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How can Bitcoin be stolen?

Bitcoin Stack Exchange

Bitcoin News / Bitcoin Stack Exchange 170 Views

Firstly, there is no "each Bitcoin". On a technical level, there is no such an object as "a Bitcoin". Rather it is a ledger of transactions, and the Bitcoin that people own are entries on that ledger.

When Bitcoin is stolen, an additional transaction is added to the ledger that says that the Bitcoin is transferred from the original owner to the thief. This transaction is exactly the same as any other Bitcoin transaction; it says money is sent from person A to person B.

In the case of a theft, the thief has gained access to the private keys necessary to send the Bitcoin elsewhere (i.e. create a valid transaction). Using those keys, the thief created such a transaction and sen the coins to himself.


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