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Bitcoin FAQ (2019) 51 - Has Bitcoin been hacked in the past?








The Bitcoin official website(bitcoin.org) has a Bitcoin FAQ(Frequently Asked Questions), written around 2013, and some of the contents of this FAQ may have been obsolete. In order to help Bitcoin enthusiasts to understand Bitcoin (system) more comprehensively, our site will maintain a new and up-to-date FAQ on Bitcoin (system). In the content below, the content expressed by the “Knight” on the left side comes from the FAQ of the Bitcoin official website; the content expressed by the “Letters” on the right side comes from the opinions of some friends of our CEO, and is edited and reorganized by our editors. Tips: this article only states opinions of all kinds of people, and its content is NOT guaranteed to be correct, thus should never be considered as an investment advice or suggestion.

The rules of the protocol and the cryptography used for Bitcoin are still working years after its inception, which is a good indication that the concept is well designed. However, security flaws have been found and fixed over time in various software implementations. Like any other form of software, the security of Bitcoin software depends on the speed with which problems are found and fixed. The more such issues are discovered, the more Bitcoin is gaining maturity.
There are often misconceptions about thefts and security breaches that happened on diverse exchanges and businesses. Although these events are unfortunate, none of them involve Bitcoin itself being hacked, nor imply inherent flaws in Bitcoin; just like a bank robbery doesn't mean that the dollar is compromised. However, it is accurate to say that a complete set of good practices and intuitive security solutions is needed to give users better protection of their money, and to reduce the general risk of theft and loss. Over the course of the last few years, such security features have quickly developed, such as wallet encryption, offline wallets, hardware wallets, and multi-signature transactions. [Source]
There must be hackers trying to attack the Bitcoin system in the past, but they all ended in failure. Until now, the Bitcoin system is still considered safe enough, No need to worry about hackers can easily destroy the Bitcoin system. See: How does mining help secure Bitcoin?
For more, see: Is Bitcoin valuable? and Bitcoin value disputes series on this site.
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