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In reply to the discussion: Feds arrest married couple, seize $3.6 billion in hacked bitcoin funds [View all]localroger
(3,782 posts)33. The cryptography behind bitcoin is considered very solid
Some of the other cryptocurrencies a bit less so, as there are compromises. But one of the reasons bitcoin uses so much energy is that it is strongly protected by the most modern cryptographic strategies. If anyone ever did compromise bitcoin it would mean they had also already compromised every algorithm ever used to protect web commerce, a lot of banking, and some seriously important governmental functions. Yes, it was made by a man, but it was made with a strategy, using "one-way" functions that are easy to do in one way but very hard to undo the other way. Crypto may collapse for myriad reasons, but being hacked is unlikely to be one of those reasons for decades at the earliest.
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To get away with it they would have had to move to Russia and bribe officials.
Beakybird
Feb 2022
#5
They like saying they stole the money from the bank but the vault was safe. /nt
bucolic_frolic
Feb 2022
#16
The government calls crypto assets securities, even if their only value is some greater fool to sell
Eugene
Feb 2022
#31
Like many, they didn't get caught stealing, they got caught trying to become honest.
Tommymac
Feb 2022
#23
Cryptocurrencies: Millions of tons of Methane (CH4) released by melting permafrost...
Justice matters.
Feb 2022
#20
A Crucial Clue in the $4.5 Billion Bitcoin Heist: A $500 Walmart Gift Card
mahatmakanejeeves
Feb 2022
#37