Reply to post: Confused ... a little.

$67M in bitcoin stolen as hacking typhoon lashes Hong Kong's Bitfinex

JimmyPage Silver badge
Stop

Confused ... a little.

Surely the only way to "steal" BitCoins is to insert a record in the blockchain which effectively transfers from an account which *has* BTC into another account ?

So is the case here, that the exchange was holding the necessary crypto keys which were accessed by the hackers ?

Is there not a mechanism to reverse the transactions ? Is it not possible to lock the receiving accounts.

Was any of this thought about when BTC was devised ?

Are other virtual currencies at risk ?

The more I read about BTC, the more I am convinced it really was one guy alone. There's too many holes for a committee to have come up with it.

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