TOPIC #0007

Stolen Private Key

TOPIC #0007: Stolen Private Key

Trying to steal someones private key should be considered a very severe offense with jail time.

When someone steals your private key, that person can access the blockchain data, because the key is needed to decrypt it. If there is blockchain data added with your private key, you will be notified. The blockchain is set up in a way that a person is not able to change his private key regarding the stored data. When someone steals your private key, that person could steal your coins (if there is no additional security) and can copy your personal data. But clearing your history on the blockchain is not possible. Trackers of your identity should be able to spot where someone is that is copying your data. Payments that are done with your stolen private key can be traced and be undone, unless a strawman is used. In that case an insurance could solve problems.

It is possible to add security to crypto payments, for example with a code generator that needs to sync with a number list in your blockchain data.


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