Post
Topic
Board Bitcoin Discussion
Re: Anyway to block usage of stolen coins?
by
seleme
on 02/06/2019, 05:08:29 UTC
Let`s us say that a exchange got hacked, Would there be anyway to ban those bitcoins? like blacklist the stolen coins so they cannot be used on the network? I know about going back in time with consensus of the network to a earlier block or forking and using that new chain, but could you just not ban the stolen coins?  I mean make a way to do that?
After the hacked accounts on Binance, MCaffe talked about the re-org of the whole bitcoin network. It is possible but all miners should go back to the previous block before hacked coins transferred to an address in order to split the chain which called re-org. It is dangerous and will lead to centralization. Long story short: Unlikely, but it is possible.