The security of the open source code has been thoroughly tested and improved over time to ensure that it can't be "hacked". Cryptographic principles are also used in order to regulate the mining of the currency as well as it's authenticity. the possibility of digital counterfeiting is completely moot due to the system's design.
In conjunction to the cryptographic principles involved in it's production, Bitcoin is also administered in a decentralised network that can authenticate the validity of all Bitcoins produced using user keys and signatures in a distributed onlline registry, which ensure that duplication of transections does not happen and frauds are avoided.
The nature of this cryptographic setup is based on ensuring that the computational cost of hacking such a system for outruns the possible gains that could be the possible gains that could be made. The processing power required to circumvent this cryptography extends far beyond the reaches of the largest multinationals such as google or Microsoft and are therefore well outside the reaches of the basement hackers. The technique used is known as a "proof-of-work" based system which can only be resolved through brute force application of computing power. This power is normally used by swarms of miners through pools of distributed processors over large periods of time resulting in the sharing of the discovered Bitcoins. This ensures that the effort of the miners is reworded and no single entity is capable of exploiting the system to unfair gain Bitcoins.
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