Re: Cryptocurrency wallets: Can they be hacked??

If your Bitcoin wallet is hosted in a third party server (coinbase, blockchain, bittrex ect) then yes it can get hacked.

If your Bitcoin wallet is hosted on your own device, personal computer or in an offline paper wallet then it cannot get hacked.

This is completely incorrect, just because the wallet is stored in your own device it does not mean it cannot be hacked, the reason we see more hacks against exchanges has to do with the fact that they are big targets because of the great amount of coins that they hold, but make no mistake there is always a way to get hacked or to make you to reveal that information, some months ago thieves stole bitcoin from a trader the old fashioned way and this is only going to happen more frequently as the value of bitcoin goes up.

Yes, and small traders like us will always get ignored by hackers because they don't know how much is really on our wallet but with exchanges, they can expect on how much they can get. But we still need to be careful because maybe one of the people you know is a wanna-be hacker trying to steal your money because you told them how much you have.

Which is why you should not trust anyone in this market, in fact one of the easiest ways to be hacked is if the hacker can get physical access to your computer since many people do not put a password in their computers, this is why you must keep the amount of coins that you are holding in secret even to your loved ones so you avoid becoming a target, after all if criminals knew that you keep a bunch of cash in your house you will be robbed immediately.