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Guys help me here. It seems that I don't understand and maybe don't really know how bitcoin works. How can it be stolen? A change in the logs? A pseudo-transact
by Mustafabei 13y ago
Guys help me here. It seems that I don't understand and maybe don't really know how bitcoin works. How can it be stolen? A change in the logs? A pseudo-transaction?
- deleted 13y ago[deleted]
- A1kmm 13y agoIf you know the private key for a wallet, you can transfer all the coins out to another wallet (i.e. make a real transaction). Anyone holding BitCoins for someone else should protect the private key for the wallets holding the coins strongly - for example, by moving most coins to a 'cold wallet' where the private key is kept on an airgapped computer encrypted with a long secure password, and only occasionally accessed when the hot wallet runs out of funds, and protecting the computer with the hot wallet strongly as well (with multiple layers of defense and controls to detect and stop activity that might represent an attack).