tandich wrote:How does one secure their Bitcoins from such and attack?
By safely storing what is called a private key. Every bitcoin wallet address such as 12GKDgxkG3WPMedAXQvbpgA7364v3HBxXa has a corresponding private key.
Think of a wallet address a a pad lock to a safe whose key is the private key.
By safely storing this private key, then Bitcoins can be securely held. One example, is having your private key on a physical piece of paper ie a paperr wallet.
Another way is to have multiple private keys that access a single wallet. This allows 3 people to have 3 different keys (OR 1 person having 3 different keys in separate storage locations) that are required simultaneously to access bitcoins held in a wallet. Also known as multi-signature wallets. in such a case, access to 1 of the keys is not enough to gain control of funds.
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