That's fine on your personal system, where you manually update your package's dependencies and manually update the hashes of your package's dependencies.
Now, what happens if an attacker compromises the repo where people download your package from? Or what if he executes a MitM attack on the repo or a user who downloads from it? He can change the entire package, including all manifests, all hashes, etc. Users who download it will be none the wiser. By the time someone notices and corrects it, people will have downloaded the compromised versions and be infected.
The only thing that protects against this is strong crypto signatures. For example, if a Debian mirror were compromised and an attacker uploaded compromised packages, users would be safe, because apt would refuse to install the packages, because they would fail signature verification.
Please read the link I gave. It explains everything in detail.