Can Bitcoin Be Hacked?
Imagine if one day..... We wake up, and our wallets compromised? All of our bitcoins, stolen, and sold on the marketplace, then the network goes down?
This is is something out of science fiction, right? WRONG.
Look ok at it this way, our wallets are synced to a public ledger, which everyone has a copy of. What if, there is a ptivate key ledger that only a few people have access too? There is in fact a ledger with EVERY SINGLE WALLET's private key to it. You may argue and say that isn't true, well in fact, there is which cannot be denied by facts.
Every transaction sends a private key and public key while doing the transfer. This is to validate who it came from. Well when you look at it, that private key has to go somewhere for the bitcoins to be validated. Therefore, with further research and development testing, has been found that the private ke are stored within the block finders files, encrypted, and locked.
So so if you look at some of the larger pools who finds blocks every day, then you will see, those blocks must contain Thousands of private keys.
Just keep your heads up!
Anything can be hacked. The question is how long would it take and how many resources would be required to do it? I've seen estimates it would take longer than the sun will last to crack one private key.
I have seen a few private keys get dumped on several black hat website. According to some senior members, it is dependent on how long the password is. Not sure how true that is
If you have a really old key from before some security updates and reuse the same receiving address over and over it's possible. Some people don't even encrypt their wallet in the first place which isn't very bright.
Or some people (noobs) who use "password" as their actual password.