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Author Topic: Did you guys read this story about a guy who lost $30K Bitcoin...  (Read 433 times)
daweller
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November 07, 2017, 07:14:18 AM
 #1

I thought it was a great story, because once i started reading it, I could not stop!
link: https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/
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mondobitcoin
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November 07, 2017, 07:26:26 AM
 #2

Sad story... we need to have caution because if we are using an online wallet or exchanges we can lost money too, they can disappear with our money
The better way is to use an offline wallet and save the private key on a paper
treather
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November 07, 2017, 07:37:21 AM
 #3

I thought it was a great story, because once i started reading it, I could not stop!
link: https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/


It is a very sad story but also an all too familiar one. I have lost a couple of wallet passwords myself by being careless. But now I make sure that never happens. What was worth $10 to me back in the day is now over $200.

moonchaser_babylove28
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November 07, 2017, 07:51:26 AM
 #4

That is one sad story but we can say that part of it is his fault. There are many ways to back up his pin and that we all knew, right. Pin, password, private keys, passphrase means money so we should take or these no matter what happen for it might hold our future and it will just go to waste when we are going to just ignore those.
daweller
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November 07, 2017, 08:00:08 AM
 #5

You guys didn't read the whole thing  Sad
There IS a happy ending!
Opquar
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November 07, 2017, 08:02:14 AM
 #6

Well that was entertaining. I would have gone as far as he did if I lost that amount as well lmao. It was smart of him to try to use that vulnerability. I didn't think it was actually ever exploited because no one has been hacked as far as I know.
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November 07, 2017, 08:16:49 AM
 #7

That's his own fault. He left the pin under the pillow of his daughter. Its really funny at one side of the story, but on the other hand its terrible for the person who lost more than 7 bitcoins like this. Truly heartbreaking.

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phelbaby
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November 07, 2017, 08:38:34 AM
 #8

i have lost keys online like this so i learnt my lesson in saving keys offline
timikulit
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November 07, 2017, 08:45:23 AM
 #9

This article is very long and heart pounding.

Because of the trezor exploit he was able to recover his bitcoins

Luckily he didn't install passphrase (passphrase_protection: false) to his trezor.

Then a guy helped him how to exploit his low version trezor.

He is not that technical guy but he made it. Good Job!.

His family is very supportive also.


The Real pin is 45455544. No more heart pounding guessing. cheers.


The lesson is : Do not store your passphrase in orange paper  Wink


raiblock
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November 07, 2017, 09:39:34 AM
 #10

I thought it was a great story, because once i started reading it, I could not stop!
link: https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/


It is a very sad story but also an all too familiar one. I have lost a couple of wallet passwords myself by being careless. But now I make sure that never happens. What was worth $10 to me back in the day is now over $200.
You haven't even read the story!  Roll Eyes Roll Eyes
And that's a pitty cause it's so well written and dramatic that you feel you're watching an action movie.

spoiler: he spent like one btc but got them all 7 btc back in the end.
DarnellL
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November 07, 2017, 12:36:24 PM
 #11

It's just your responsibility to safely store all your credentials and never lose it.
It's a simple internet hygiene!

It makes me wonder: how many geeks had 1-10-100 BTC on their wallets back in 2010 and lost their passwords?
So basically there can be millions of $ that are lost forever!
EugeneAS
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November 07, 2017, 01:50:27 PM
 #12

On different estimates, more than 3 million BTC are buried on lost wallets.

The crypto economy is still raw, and requires a specific mindset. Nowadays, nearly everything can be restored. You can restore you passport, you credit cards, your passwords using your identity (your body) or existing records (ex. email password or birth certificate).
When you generate a private key, it's just you and the key. No one knows it, and no one can restore it.
This is quite challenging to understand for many people, not because they are dumb, but because this is something completely new.
Xenrise
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November 07, 2017, 02:05:40 PM
 #13

Wow, that is a big loss. That is so sad for someone to lose bitcoins amounting $30k. But with a big fall, a human has 2 choices. Either stay on the ground or try to wake up from that fall and will recover from that loss. Well, many entrepreneur fell down before they succeed. So it is best to recover from that fall.
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November 07, 2017, 02:12:57 PM
 #14

I've read several such stories and I always do facepalm. Why don't they type their PIN in a PDF-file with master password (such word that easy for only to you to remember) that is a cloud (iCloud, Google Drive, Dropbox, etc.)? It's simple and safe at the same time!
poletando
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November 07, 2017, 02:13:26 PM
 #15

wow its a sad story, my advice is if you save bitcoin more $10000 you can save it in hardware wallet or you can save it in paper wallet, so you can need to afraid that you lost your pin key. if hardware wallet you can save it in your storage box and make a note about the pin and the information about it

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November 07, 2017, 04:14:04 PM
 #16

The Real pin is 45455544. No more heart pounding guessing. cheers.


The lesson is : Do not store your passphrase in orange paper  Wink
It's a nice long story to read indeed, but it also confirms to me why I don't want to trust a hardware wallet:
1. I still need to keep 24 words as a backup somewhere safe.
2. I can never verify on my own if a hardware wallet has exploits.

Saerel
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November 07, 2017, 04:16:44 PM
 #17

I just read it i would have cried if i had invested so much in it and after a year i saw that it was developed a lot and i lose my password i would have literally cried and hope to get it back again would have tried everthing i got this is why we all need a backup.
farhaan
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November 07, 2017, 04:54:27 PM
Last edit: November 08, 2017, 12:16:15 PM by farhaan
 #18

Definitely,its a sad story.It shows that we should be cautious while storing bitcoins.But happy that at last he has recovered the pin and the seed.I could understand what feelings might have gone in his mind.Hop that this story would make others to be alert about their hard earned money.

I recently heard story of another guy who lost his 45 BTC by storing it in a wallet downloaded from a fake website Electroncash.com instead of official website Electrum.org while trying to claim free BCH coins.

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dasdo
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November 07, 2017, 05:00:11 PM
 #19


Yes, I do not envy a guy who has lost so much money. And all the rest of the great advice, do not neglect ever any ways of security. Because once you lose, you will not want to lose any more, and you will not be able to return time. Undecided
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November 07, 2017, 05:10:34 PM
 #20

Quote
“Where is it?” Carla asked. “I threw it away.”

I am sure there are also other people into Bitcoin who experienced almost the same horrifying experience when the piece of paper where the vital information was recorded is gone for good. The big lesson here is never trust yourself in keeping the record...make sure that you rightly recorded all the necessary details and that you are storing it like a precious jewelry as it would be so hard to get them back once they are lost for careless grounds. Good thing that the story here still ended up nice. 
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