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 Ian Balina, the famous cryptocurrency YouTuber has reportedly lost 2 million USD during a livestream. Famous for doing sponsored ICO reviews, the YouTuber was reviewing yet another ICO on his channel when a viewer notified him that “someone” had moved all of his tokens out of his wallet.
Read our post to know what happened with the famous cryptocurrency YouTuber!

Read the complete article here : https://coinfrenzy.io/ian-balina-loses-2-million-usd/

I don't think a powerful advisor like ian will be so dumb to not use a hard wallet. This is just sick tactic to create an hype!

It is not clear why it is so attractive when people lose money, you need to have compassion and understanding for such people, many people lose every day the amount is much more than $ 2 million, especially a lot lost those who hold more than 100 bitcoins since the fall, here they really have lost a lot. if this person is very famous youtuber he will quickly earn much more.

haha. I saw the memes on him. He apparently put his private key address on ever note?
i hope the hackers are found and ian gets back his tokens

I thought it's 1million usd. How is he right now? It's very frustrating that you're hard earned money was vanished. I'm sorry for hin but he needs to speak up with that hackers and seriously 2million usd is very big..

Sounds fishy to me. For some reason he moved all his tokens week ago, than was hacked during the review (so everyone can confirm it), then posting tweet that hacker is trying to sell his tokens on Kucoin (before they were even sent to Kucoin), on top of this using Evernote and Gmail for his private keys... Don't think that person with $2M is this dumb. But well, hack happened on April 16th, right before the last day to pay his taxes. Convenient, don't you think?

If he is popular within the space at least he should be aware of how to safly secure his funds. Hopefully other people will get the point why it is really important to keep your cryptocurrency safe and secure. I know many people that even keep they keys on text files on the computer they use daily...

Very sorry, I sympathize with the loss of that amount! Now, from the hands of hackers can suffer everyone, so we need to unite and fight with hackers. If even such a smart and knowledgeable person in the cryptanalytic world like Ian Balina lost his money, then it's very scary and you need to be as careful as possible.

Ian is a veteran  in the industry and it is possible that many hackers targets him once in a while but I don't think Ian is that clumsy when it comes to his coins. It is possible he did it to avoid taxes but it is just a conspiracy. If he ever did got hacked I hope he gets back his coins.

Yeah it is hard to belive that he was holding 2 millions $ worth of tokens on a regular hot wallet, and store private keys on evernote. Seriously? I send all the tokens, I am holding long term, to the hardware wallet right after I buy them. On the other hand why would he fake that hack? What could be the purpose for this? I don't think you can avoid taxes for 2017 by losing your cryptocurrencies now, he made all those trades anyway.

I don't believe it, surely there is a plan behind all this

This sounds sober to me. Of course, it's sad if he was really hacked, but for me it seems like a trial to avoid paying taxes.
Or at least I want to believe in this version, because... if the trader of that level was hacked, then how can we protect ourselves?

Are you sure he needs to pay taxes if he hasn't cashed out? I don't know IRS rules too good, but it can be the reason

Agreed. If this hack is true, then it is another reminder for everyone about security. Don't put your private keys anywhere, make sure to secure them etc. (and not store them on evernote...)

Ian Balina now falls into the category of idiot and newbie I am not adding insult to injury but he is not a newbie when it comes to security, is not using a phone verification or authy to keep his email safe only newbies fall to this not someone like Balina.

The whole hack story looks so staged to me, cos for someone like Ian, he should know better to use a hardware wallet and layers of authorization for his mails.

But funds have been stolen from hard wallet! Somebody hacked his wallet during Ians live stream when wallet was connected to his desktop. So i believe that he can return his funds and punish the fuckin' hackers!

I once used to use Evernote as a means of storing my info and all. But was advised by someone very experienced never to keep my private keys and info. Took them down immediately and now I have them on written out and copies kept in strategic places. This Ian case is an eye opener for everyone to be security conscious out there. And to the hackers and thieves, I hope y'all get caught and disgraced soon enough

I think this new is fake. This is done in order to create a hype around the name Ian balina and attract more attention to his person and followers to his Twitter account.

Wow that is really really bad :( 2 million USD

This is the problem when you keep on telling the whole world that you own huge amount of cryptocurrency, of course hackers will find a way to get those from him, so it is his own fault. If he's an expert on investing in cryptocurrency for a long time then how come that he don't know how to secure his assets, how about using a hardware wallet? I saw an article about this hacking incident, the timing of the hack before the tax filing deadline is really suspicious, maybe he's trying to avoid paying taxes on his gains from investing in ICOs and cryptocurrencies, lol
Also check this article https://www.newsbtc.com/2018/04/16/well-known-ico-investor-ian-ballina-hacked-millions-worth-cryptocurrency-lost/

It is big amount of money. If it is true too bad for him even I don't like his style to be honest.
There are some interesting discussions on Reddit though.

There is a lot of different speculation in this story in what really happens to Ian Balina, Whether this is a really a hack, or an intentional moving for his threshold on another wallet, We can really never say for sure but if this is real and Balina only wants the culprit to be caught then we should be aware on anything that may happen to our Cryptocurrency that hackers can sure penetrate even the most secure wallet we got.

To be honest I am not sure about taxes in USA, do you pay only for crypto to fiat conversions? How much % is this tax? If this is the case, then maybe Balina really staged it, and "hackers" will cash it out so he can keep all the money.

When I was reading about the question and the issue of losing money of worth $2million, I was surprised and amazed how really is true, maybe it is only a form of over imagination and trying to attract some people to share different ideas and opinion. But it has also a good value to the people who hold huge amount of money on their wallet to be more careful to avoid such kind of losses.

Thats his fault not ours,he didnt secure his private keys that is why the hacker got his tokens,he might be upset right now because of his stupidity! he is the one to blame not that hacker,because if he is protecting his keys he wont get hacked easily.Now all he can do is to cry and beat up himself,he shows his wallets everytime he is doing streams that is why some hackers have been working to his email  ;D

If this information is accurate then it's a shame that's happened. It goes to show you must keep all your information stored on an external device somewhere and it should be entirely separate to your main device. Hackers will find a way to get to you, especially if they sense you have that amount of money.

I read the whole story and sincerely I don't believe it... I think he's trying not to pay taxes.... I don't believe that one that has more than 2 million $ in crypto don't use an hardware wallet...

Well, if it really turns out to be an atheist, then I think it's a very successful scam that will attract a lot of attention to this person's personality. I think it's a bad way to increase my ratings and the number of followers. But if this news is true, then I'm very sympathetic to this man!

The safest way is staying anonymous and not telling anyone that you have crypto investments. Because when you announce your portfolio it means that you gave a target for hackers...

That is why we shouldnt be exposing our portfolio to anyone,for our own security because it might be the reason why our life or our family's lives will be put to risk,hackers can do everything ,email addresses can be hacked,if the target doesnt have any 2fa ,or if his keys are saved in his computer which is why we shouldnt be taking any chances! protect your keys life your life.

I wonder about this kind of news. Ballina is famous for shilling and being somewhat unprofessional as an advisor. (paid promotions etc) so I take a lot of what he says with a big grain of salt. How could he not be using a hardware wallet , and what kind of seasoned investor stores their private keys on evernote!!!
I think there is something fishy going on here.

Yeah sources do confirm that nothing like that happened in reality. But wha makes me laugh is why there is statement of his wallet getting hacked right before the tax day? That seems to very fishy in first place and I can confirm that he just dont wanna pay the taxes for his earning. Lolz. Thats like the best excuse anyone can give to the tax authorities. However, it was not needed to do as the coins were still in his online wallets and they were not taxed. But it was inconvenient for the Balina as he might have had bad time paying the taxes from pocket.

It is not a joke to lose such huge money and it is not either worth for his work to do it again when someone was just robbing him. How are you gonna feel when you are in his situation? Doing blog with youtube is not that simple but that money is still huge to not mind it. But i think there is something wrong with it because if i were him i would have put my money in a bank or vault just to secure my money from those thieves but i guess this is just an all show to become famous because this is what the show business industries were doing.

This teaches us that we need to be anonymous for us to be not targeted by those scum hackers. I will try to hide mine for me not to have huge problems in the future.

im a bit skeptical about this story, how can someone so well versed in cryptocurrency be so careless?? even if its true, I ask the same question.
how can someone so well versed in cryptocurrency be so careless??

This teaches us all a lesson to be vigilant at all times, regardless of experience in the market

I feel sorry for him, a great champion of cripto, but I feel even more sorry for myself because I cannot loose that amount of money since I don´t have it. You see, not even in cold storage boy.

A very unpleasant situation with such a well-known investor, I listen to all his advice and recommendations on investment, usually all projects bring profit, which he piarit. I hope he can return some of the lost coins.

He should keep all his keys on a Hard Wallet next time, it's quite shocking that would happen to someone like Ian Balina. It's shocking because someone with Balina's knowledge as regards cryptocurrencies and how they work and all the security measures that come with it, he should of known better.
This should be a lesson to all of us, to keep our private keys stored in an entirely separate place.

Well, this is not a mainstream opinion. But as long I don't see the proof, I still say this is a truly hacked.
This is a lesson learned for us, that hacker always around us.

And that's why, in this world, specially the cryptocurrency's one, it's important to keep a LOW PROFILE. I'll earn my coins without people know exactly what I have and IF I get rich in the process, almost nobody will know.

Very sad story, I like this investor, his investment advice, he says a lot of very useful things on YouTube. But you must always remember that it's better to take more to protect your money from hackers.

Ian remained Pundi-x tokens so if NPXS's price will make x10-x20 near future Ian will be millionare again. And NPXS rised up for 75% on IDEX today - it's just a beginning)

It was not a hard wallet, it was MEW.

very strange when he use MEW to stored million $ worth of tokens lol.
BTW, EVERNOTE is FUCK! when I join this crypto market and have my 1st MEW account I kept my private key on Evernote. after 3 months all of my token gone damn it.
so the lesson is never keep your private key on any cloud service. write down and plastic for it! Bingo!

Agreed, using MEW (and some people said that tokens were moved week before to this address), storing private keys in Evernote, using colleague's email as recovery email... Sounds really fishy, and right before IRS

I read his twitter, it looks like it's true! Very frustrating, he is a sensible guy, helping people! But the fact that this happened before paying taxes is a bit suspicious. It would be a good move not to pay.

I've no idea Why save the important private key in Evernote, it's a online platform, It's a big amount of Cryptocurrency (2 Million USD), maybe he don't care his money, I want to know that it's a hardware wallet (store private on Evernote) or Just a MEW online wallet?

Exactly, 100% agree with this. That is why most of the popular crypto influencers on Twitter are anonymous, using only aliases. Also do not brag about how much money you have made on trading/investing in ICOs, that is ridiculus. It's like asking all the hackers out there to steal it.

Losing money before tax day, seem like Ian Balina wants to avoid some tax for his Cryptocurrency. Same happen with James Trevon he has 100 Bitcoin say hacked. But on some video, he still has the 100 bitcoin still on his wallet.

Ist fake for sure. Good for his Marketing.

I don't think so.Ian Balina is a pro in his profession.It's hard to do such mistake by him.A pro like him always uses a hard wallet, not a soft one.But still, we are human mistakes happen.2bln is a huge money .i hope that he will get his money back.But there were rumors that the hack happened a day before his tax payments.I don't mean anything I just heard this rumor.Whatever happened is not good.hope For some thinks good.And he is a really good man in my thoughts.Cause no one said the real fact about any ico, Everybody wants to give them money then they speak ian balina do it for free.And not spread any scam ico.So Hope he hear some good news soon.

Its clearly his fault not anyone's but himfself,he learned his lesson in a hardway,that amount is unrecoverable for me,but if he has more money today he can easily get back what he have lost from being careless.That is why we shouldnt be exposing our weath to the public because we might be targeted by these hackers,or greedy people.

I pity him,he surely do not deserve this but his carelessness have resulted into big loss,this is the reason why we shouldnt be telling others how much we have in our portfolio,.so that we wont get targeted by these hackers.These people are going to do everything that they can to get your private keys so you should be protecting it will all that you've got.

He has been showing his portfolio to the people which is why he was targeted by the professional hackers,we shouldnt be showing millions of dollars to anyone because it might be the reason why we our lives might be in great danger for example that one hacker knew where you are living,your kids might be kidnapped or something else,which they would require you to send your money thru their wallets.

Its his fault not anyone's,he should be in a deep trouble right now or he might be just using this hack inccident so that we wont pay taxes because he doesnt have any to pay,as he said he was hack before the payment of his taxes  ;D He is indeed clever so that the IRS wont get any taxes from him because he was hacked before the taxes!

This is basically a perfect example of being careless,which resulted into big loss,you shouldnt be showing your portfolio to anyone especially when you have millions of dollars because it might be the reason why your life will be in danger.As far as we can see these scammers can easily get into our email addresses,even if you have 2fa enabled,that is why we should be protecting informations.

Too bad for him. Ian Balina is only a blogger and his reviews on youtube are just his opinions. The reason why he got hacked is simple.  HE IS USING HIS COMPUTER FOR ACCESSING AND STORING ITS ETH WALLET WHILE AT THE SAME TIME FOR LIVE STREAMING OF HIS REVIEWS. Exposing your Public Address and the computer is risky.

Im just thinking why he did not use hardware wallet


On the other hand, US tax for crypto is about to start. Maybe he created his own hack to skip paying tax.

If theres someone he can blame it is himself,because of his foolishness to put his key into something that can easily hacked,his account might be in watchlist of these professional hackers that is why the timing of the hack was perfect! or it might be just another shit movie because the taxes would be paid in just few days or weeks that is why he wanted to show people that he was hacked  ::)

Clearly his mistake,his fault! that is why we shouldnt be showing our portfolio to anyone because our lives might be in danger! and you will never know what these people can do.Showing millions of dollars on stream isnt a good idea because these hackers will be tempted to try to hack your accounts,or worst you might be targeted infront of your house.

So the sponsored ICO reviews were valuable for him? :) What kind of tokens did he hold? The tokens of the ICOs he reviewed and was sponsored? No offense, but if you hold tokens worth 2 millions in one wallet, then it is literally your own fault! You should never put money worth 2 millions under one pillow and you should also not hold 2 millions in one bank account even though it might be insured.

Clearly his fault,he shouldnt be showing his wealth to thousands of people because someone can easily wait for him in his doorway and take his life if we wont give his private keys.It is the risk that we shouldnt tried to,because our life will depend on it, as these people will do everything that they can to get those millions of dollars.

I have heard abiut this case, it is so bad to loose that amount of money :( Poor guy. Do you think it is an opportunity to get them back?

This is ridiculous why would he put his keys into some shit evernote? its clearly his fault ! he is careless to put those delicate keys into some shit note app.He is too confident too because his email doesnt have any 2fa enabled,which is why the hacker cracked his email addresss without him knowing that his email address was compromised already.

IMO he shouldnt be showing his portfolio to the public we shouldnt too because it might be the reason why his life or his family's life might be put into danger as the people know how much he has,he can easily be tracked by anyone who has resources.

This is also what came to my mind after reading others comment about this.

Do you guys can see the timing? It's tax season.

He surely deserves a medal,because he have done many stupid things,showing his portfolio worth millions of dollars? putting his private keys to evernote? and not activating 2 factor authenticator to his email and his exchange account or whatsoever account he has,that is purely bullshit ! he learned his lesson very hard and he deserves it.

Looks like a scam to me. A guy who reviews and kind of a know how guy on crypto. Puts his private keys on evernote and tokens in a hot wallet. Seems a bit fishy to me. Prolly just doing it to avoid the IRS tax. What is more suspicious is, his wallet was hacked a few days before the deadline of the IRS tax filling. Thus raising more questions. We just have to wait and see what comes up later on. Everything else is just speculation.

I am sorry this happened to him, or to anyone that has been hacked.

However people seem to think that a hardware wallet would have avoided that. Not really - he may have had hardware wallets and store on Evernote his recovery words, with them anyone can access those funds very easily.

I think there are lessons to be learned by everyone about what actually happened. I hope he actually shares his story, and a guide so people can prevent this from happening to them.

On the meantime please follow best practices, be safe, always be in control of your private keys, and in control of your digital life (passwords, etc.).

And please be aware that your funds held in hardware wallets can easily be stolen if someone gets access to your recovery words.

Ian Balina shouldn't have been bragging about his high balance blockfolio on social media.   I think this resulted him in being a target for hackers.  Putting private keys on evernote wasn't a smart thing to do either.  

I have been following since then and i have learned alot from this person,he surely does know the risk of putting his keys into some evernote or whatsoever app,he might be bluffing as well and no one can tell he was hacked or not,because the taxes should be paid and he might be using this tactics to prevent taxes.

Clearly his fault,he was too confident with his security, it might be his excuse so we wont be required to pay big taxes,but who knows? if he is just setting this up so that IRS wont bother to check his assets,which if true he is in a deep trouble because that is a huge amount! it might be unrecoverable for the people like me but if he still got some of his coins he should be fine.

With those 2 Million $ he could move to Thailand and live there very well for the rest of his live.

What I've learned from this lession:

1. never tell some one, that I hold crypto currency

2. Use Hardware Wallet

3. If I have enough money, I will cash out and enjoy my retirement in Thailand (don't be too greedy)

No doubt, you'd think someone that popular would be better about security.

After all, i read that he used Evernote for storing his passwords, that's just dumb.

This is surprising, losing money or assets with a considerable amount. Looks like it's his own fault, should we have to learn from his mistakes so as not to suffer huge losses. And hopefully the security in every wallet is fixed in order not to happen something like this.

Now we have unmasked this idiot as not a good and knowledgeable when it comes to cryptocurrency security, if you are preaching how and what coins to invest your first lesson is how to keep all your tokens safe, he loses the $2 million but he also loses his credibility.