Yes, blockchain networks can be hacked, though they are generally secure by design. The most common attack methods include:
- 51% Attacks: When a single entity controls over half the network’s computing power, allowing them to reverse or block transactions (common in smaller blockchains).
- Smart Contract Exploits: Bugs in smart contract code let hackers steal funds (e.g., the DAO hack).
- Phishing/Scams: Tricking users into sharing private keys or passwords.
- Sybil Attacks: Creating fake nodes to overwhelm or disrupt the network.
- Code Vulnerabilities: Exploits in the blockchain’s core software (e.g., bugs in consensus mechanisms).
Human errors (like poor key management) and insecure third-party services (e.g., exchanges) are also weak points. While blockchains are resilient, no system is entirely unhackable—proper security practices are crucial.