El Salvador leader Naib Boukel says “Bitcoin cannot be hacked.” Find out if what he says is true.

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The leader of El Salvador says 'Bitcoin cannot be hacked'.  Is he right?

Bitcoin investors are well advised to take all precautionary measures to protect their currencies

Cryptocurrencies, especially bitcoin, are becoming increasingly popular. Last month, El Salvador officially accepted Bitcoin as a legal tender, the first country to do so. On October 5, El Salvador’s leader Naib Boukel shared a post on Twitter where he wrote, “#Bitcoin cannot be hacked.” The report attracted the attention of people around the world. If the tweet was decoded, we can say that Buckell put too much pressure on the security aspect of Bitcoin. Basically, he was trying to convey that people are using technology that cannot be hacked by Chivo Wallet.

However, many began to criticize Bukeley’s tweet. A few people started sharing news related to hacker attacks on cryptocurrency sites. There were some who praised Bukela as well.

Can Bitcoin Be Hacked?

Although not possible, Bitcoin is very difficult to hack. There are chances of coins being stolen from the wallet, but the entire Bitcoin network cannot be hacked. Bitcoin uses blockchain technology, which makes hacking a very difficult task. Data is not stored in one place or on the central server. It is distributed to a network of computers that are constantly checking and verifying accuracy.

Since the appearance of bitcoins in 2009, there has not been a single case of network hacking. Yes, there may be times when wallets are hacked. Therefore, it is advisable for bitcoin investors to take all precautionary measures to protect their currencies.

In a business process like digital currency, accessing other people’s wallets and stealing coins is not so easy for anyone. The two-factor identification process goes a long way as a safety measure.

However, Bitcoin said hacking is very challenging. But we cannot say that it is impossible.



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