IOTA - Thousands of Wallets Compromised and Funds Stolen

[Warren Buffert]

A buddy of mine is in the hole for 15k, I can't believe they don't have their own seed generator.

[1714874477]

1714874477

[1714874477]

1714874477

[Bayuvivi90]

what happened with IOTA?

[Osiris0]

WOW. did not ever expected that from IOTA. But now in cryptoworld anything can happen - we should be aware and with eyes opened

[MadMac]

what happened with IOTA?

Read from the beginning, not too difficult

[exadex.org]

what happened with IOTA?

Some guys thought it's a good idea to use an online service to generate their passwords.

[immakingacoin]

There is about to be a Reckoning with all these Linux Nerds and MIT guys that have been trying to keep a Stranglehold on the Bitcoin world.

[Stanlymaker]

Oh my god, this looks really terrible. This is a huge loss for people. I sincerely sympathize with those whose funds have been stolen. I wonder how much was stolen from the accounts?

[rejosh]

Is this a true news the price is still solid so I am expecting it to be an FUD   

[immakingacoin]

Oh my god, this looks really terrible. This is a huge loss for people. I sincerely sympathize with those whose funds have been stolen. I wonder how much was stolen from the accounts?

This could be the first massive Crypto Lawsuit.

All those guys put on suits and pretended to be important for the Cameras. Now they need to do it for the Judges, they did this to themselves.
Everyone should sue them.


TEMPLATE

You
Address
V
Them
Address

Complaint

Stacy  Pincus (“Plaintiff”), on behalf of herself and  all others similarly situated, brings  this  class  action  case  against  Defendant  Starbucks  Corporation  (“Starbucks”  or “Defendant”), and alleges the following

INTRO (FACTS)

CLAIM

WHEREBY THE PLAINTIFF PRAYS THE COURT

[immakingacoin]

All these people want to call other Coins Shit Coins, and pretend that if you aren't a programmer and the only thing you can offer can be taken from everyone in an instant, by an EMP, or by a lost internet connection in a storm, or whatever.

These people are not really offering you anything. It's all smoke and mirrors.

Coins should have a higher purpose than Websites.

[eaLiTy]

How so? People were told to use online seed generators. Yes, a seed, online. Not from the wallet itself, no password, not protection at all. And one clever chap collected all the generated seeds and just cashed in.

I really do not understand why people are so dump enough to use a online seed generator ,is it that hard to create your own rather than trusting a third person and that too from a random site,i am not aware of the coin so basically people are just dump and you cannot complain about it to anyone for being stupid,but if the team behind the project encouraged people to use it,then they might be liable to the situation.

[MadMac]

I really do not understand why people are so dump enough to use a online seed generator ...

Simple, their own wallet can not create seed/private key and the malicious sites that are now exposing those keys were promoted in their official IOTA forum.

[MonkeyBrain]

So frustrated with all the Cryptocurrencies.  Its not safe to put money in exchanges as they can get hacked, can't trust wallets they can get hacked, store offline, lose key, fire, theft your dead. Seems like more risk than just putting fiat in bank. At least it's guaranted. I like crypto but some better and easier system need to be setup. The average person just can't go through so many steps to just keep their money safe. This inhibits growth.

[solarion]

How so? People were told to use online seed generators. Yes, a seed, online. Not from the wallet itself, no password, not protection at all. And one clever chap collected all the generated seeds and just cashed in.

I really do not understand why people are so dump enough to use a online seed generator ,is it that hard to create your own rather than trusting a third person and that too from a random site,i am not aware of the coin so basically people are just dump and you cannot complain about it to anyone for being stupid,but if the team behind the project encouraged people to use it,then they might be liable to the situation.

Are they any offline to keep the IOTA safe. For bitcoin and some altcoins may be supported by the hardware wallets but the IOTA and all not accepted by the hardware as much my knowledge. As op said if the wallet for IOTA alone empty means you have to understand there is attack by the source coder site or hackers involved in the core development. Other than trying to hack on cheap altcoin is not a possible. Hackers will have worst time try on the online wallet sites.

[chuckblocker]

What's wrong with randomly typing HTRWHTWEJHEWJ0J0TE0JT0EJ0TE0JE0J0J ....... in a txt file and saving that as a seed? Then just c/p to login.

People generating their password on an online site should check themselvs.

[immakingacoin]

What's wrong with randomly typing HTRWHTWEJHEWJ0J0TE0JT0EJ0TE0JE0J0J ....... in a txt file and saving that as a seed? Then just c/p to login.

People generating their password on an online site should check themselvs.

And we should all know how to use the Algorithms on Xcel too, right? Get real.

[mobilazy]

This is just stupid! Why would anyone use online seed generator? An absence of such tool is clearly a miss from dev team. But where is common sense? I saw these warnings against generating your seed only yourself and not reuse address you used to send iotas. And yet people do it again and again!

[kingzues09]

This is just stupid! Why would anyone use online seed generator? An absence of such tool is clearly a miss from dev team. But where is common sense? I saw these warnings against generating your seed only yourself and not reuse address you used to send iotas. And yet people do it again and again!

For some newbies they don't even know what they are doing. ask permission to others? i think they are just for money. Developer should be one to blame. Sorry for those people behind it for their money loss. Seed generator shouldn't be compromised.

[immakingacoin]

There are people who threw away their computers when AOL stopped being the main way everyone used the Internet. And those are people that these people are asking to invest.

Donald Trump was the only 70 year old who wanted to read Emails by someone else, and Hillary might be the only other 70 year old who was that into the Internet. And these people are starting to invest in Cryptocurrencies. People grew up on farms.

There are News Papers writing Stories about this stuff every day.

[immakingacoin]

Everyone thinks the 60s was a movement where all the kids came out, but a lot of kids were on Farms, and didn't have TVs until the 70s.

And the Internet was for Nerds until like 15 years ago.