top | item 26457323

(no title)

CorpOverreach | 5 years ago

Maybe "incredibly easy" isn't the right term for _stealing_ it - but once it's stolen it's easy to get away with it. This is especially true if you're managing your own wallet/private keys/etc.

If you're not careful with your machine, all it takes is some piece of malware lurking in the background to keylog your password, decrypt your wallet's private key, get the funds transferred from your wallet to the hacker's, and poof all your crypto is gone. That's game over. It's gone. No court or government can get it back for you unless they send a SWAT team to go steal the private key from the people who stole it from you.

If you're relying on Coinbase or another exchange to host your wallet for you, that's a different story, but at that point they're fulfilling a similar role that a bank does for you.. which to some is entirely what they're trying to get away from by using Bitcoin and such.

discuss

order

No comments yet.