It was early in the morning (Ph time) when I opened my browser to check my readcash account.
Before opening Readcash, I saw this post on my Google Feed.
The post says "Hackers Are Trying To Break Into This Bitcoin Wallet Holding $690 Million" this was written by Lorenzo Franceschi-Bicchierai
I'm gaining interests about Bitcoin and Bitcoincash after reading some of the articles here especially the one that's written by sir George @georgedonnelly with Filipino translation.
So after seeing the blog about hackers trying to hack a bitcoin wallet has gotten my attention and I read the entire article. After reading this, I don't hesitate to share it with you. I think everyone should be aware of this too
You can read here the entire content of the post.
So I did some research about this to share some informations with you.
Can a bitcoin wallet be hacked?
And certainly, I got these answers.
A blockchain is a digital ledger where bitcoin transactions are recorded.
Hackers can steal bitcoins by gaining access to bitcoin owners' digital wallets.
Fake wallets are great examples of how far the hackers can go to steal cryptocurrency.
Once a wallet is created, you get a private and public keys.
Public key is used by others to send bitcoins to you.
Private key is used by you only to send bitcoin to others.
So, if someone was able to obtain your private key, you can be hacked.
So, I can say that hacked Bitcoin wallet is probably one of the worst nightmare of any investors.
Our wallets must be secured just like the physical wallets we have in real life.
I wanted to know more and learn more how to secure your wallet, though I'm not an investor but it's a good thing to have an idea about this.
Please tell me more in how to secure a wallet and do hackers can really hacked a wallet?
I am willing to know more to be able to fully understand how secure Bitcoin Wallets are.
I hope I can get some relatable answers here.
It was the easiest thing to do earlier as security was compromised but since we now use offline wallets and keep the keys safe, it is very difficult to hack but still there are few bugs which can be easily tracked by hackers.