Can Blockchains be hacked?

[Yaqoob Habib]

Blockchains are difficult to hack because every member has a copy of transactions,but they are not completely impenetrable.Hackers need to gain access to multiple individual members in order to create fraudulent transactions and have them accepted.The vast computing power required alone makes hacking blockchains very difficult and expensive.

 

[Eren Jaeger]

Recently, blockchain hacks have drastically increased as hackers have discovered that vulnerabilities do in fact exist. Since 2017, public data shows that hackers have stolen around $2 billion in blockchain cryptocurrency.

 

[Adegbindin Abdullahi]

Bitcoin transaction are recorded in a digital ledger called a block chain. Block chain technology and users constant review of the system have made it difficult to hack bitcoin. Hackers can steal bitcoins by gaining access to bitcoin owners digital wallet. Recently, blockchain hacks have drastically increased as hackers have discovered vulnerabilities do in fact exist

 

[Ralphjoe]

Blockchain technology is very strong and very difficult for hackers to hack but I don't believe there is anything that is currently impenetrable as I have read in the news that hacking of cryptocurrencies is now on the increase so we all needs to be careful on the security measures of our individual wallet as that is where hackers normally target rather than the blockchain technology itself.

 

[Patrik]

Anything can be hacked, it's just a matter of time, whenever there are smart people in the domain of security, there should be smarter people in the domain of hacking that know how to bypass things, let's just hope the security's system get better and better

 

[Judee201]

Yes I have seen countless of people complaining and their hacked block chain account.

Buy if you enable 2FA. It's hard to hack ur account with dat unless it's an inside job. I mean only wen someone has access to ur fone.

 

[mcjerry]

Bitcoin transaction are recorded in a digital ledger called a block chain. Block chain technology and users constant review of the system have made it difficult to hack bitcoin. Hackers can steal bitcoins by gaining access to bitcoin owners digital wallet. Recently, blockchain hacks have drastically increased as hackers have discovered vulnerabilities do in fact exist

And another way they hack people's account is hacking a crypto currency online wallet or an exchanger. It is very hard and not possible for now to hack into Blockchain technology. If they can hacked into Blockchain technology, they would all have been trillionaire . Because they would just be given themselves bitcoin or other coin

 

[Nomad]

I don't think there is anything in this world that can be hacked. But I know nothing about how blockchain hacking is done because I am not hacker or a developer.

 

[Aaron625]

The technology is always developing , so in the coming days we can see the crypto blockchain getting hacked if the security level is too weak. Bitcoin will remain strong though never the less.

 

[Grandeur]

I haven't heard that block chain has been hacked before except for those hackers that gain access to individual accounts but other than that I think block chains encryption on it's system is impenetrable

 

[Nurudeen]

Yes blockchain can definitely be hacked. The most important thing while buying crypto currency is that you need to ensure that the platform you using for your Buying and selling is very strong and not that prone to cyber attack

 

[gammarays]

Blockchains are created so as to limit human interference. However, they can be exploited if a loop hole is discovered. Many developers purposely leave loopholes so they can get back to the system anytime.

 

[Josemendez]

There is nothing on the internet that cannot be hacked but blockchain was built in such a way that it cannot really be hacked.

 

[Khalidumra]

Block chain cannot be hacked
Because if it can be hacked many wallet in which the seed phrase has been lost would have been recovered

 

[eLdavis]

I believe its possible, as long as its on the internet there must surely be a loophole that people can exploit on. Though the reason for the creation of blockchain was to create a system for transactions that cannot be hacked

 

[Kelly5]

Yes you may be right about blockchain being very difficult to hack. But If the hackers can get hold of your blockchain account id, they can do a lot of havock really

 

[Justin]

I think blockchain can be hacked. If hacking was not possible how would exchanges, wallets and even block chain platforms would be hacked. Every thing on the internet is prone to hacking.

 

[Dowenship]

Blockchains are difficult to hack because every member has a copy of transactions,but they are not completely impenetrable.Hackers need to gain access to multiple individual members in order to create fraudulent transactions and have them accepted.The vast computing power required alone makes hacking blockchains very difficult and expensive.

Yeah, that's why its very difficult for us to see any news or cases of hacking blockchains but only exchanges. And I think its better for exchanges to use the mode of blockchain to prevent hackers from penetrating.

 

[HayKay]

I completely agree. I've not seen a blockchain that's been hacked - there'll have to be a lot from covering transactions, to solving the complex equations that's in the blockchain and you'll find out that it's tough work for the hackers.

 

[Achawaskey]

I think it can be hacked in as much it was developed by humans and the knowledge of it not proprietary, so I suggest for every organisations that is making use of blockchain should take the issue of security serious in order not to be hacked.