Post
Topic
Board Bitcoin Discussion
Re: Bitcoin can be hacked
by
illinest
on 21/11/2017, 13:12:59 UTC
In Bitcoin many believe that because the Bitcoin ledger itself cannot be hacked, their money is safe. That is why they say Bitcoin cannot be hacked.

But it is actually quite easy to steal people's Bitcoin by hacking their wallets, stealing their passwords, hacking into exchanges and so on and so forth. We see it every day.

I understand the frustration. I always say that there is a steep learning curve with Bitcoin, and there's no exception when it comes to hacks and account compromises.

But really, you're talking about two different things. Whether or not Bitcoin is used as a financial/economic system, people should be aware of how sophisticated hackers are getting. I just had a trading friend (been in BTC since 2013) who recently suffered a hack. He had his hard drive and one of his exchange accounts compromised and lost quite a few coins. I would consider him tech savvy, too.

When old timers talk about putting your coins in cold storage, you should listen. This is what they are talking about...