Ukraine - man arrested for stealing bitcoins and altcoins

[sehoon]

I think these kinds of information must be given to the newcomers and how are they are going to prevent this. And we should start investing in hard wallets like ledger in order to improve our security. I also propose that trading sites must require the 2FA and improve it a little more.

[1714731352]

1714731352

[dothebeats]

This just proves that hackers aren't always from the outside and some are working on the inside--mostly within a company's ranks. This also proves the point that no one should ever, ever leave huge balances on exchanges even with 2FA as some people from the inside can still alter some information and possibly withdraw your balance. Good thing they know that something's up and nabbed the criminal before he can even do things on a larger scale. Exchanges should also screen their employees very thoroughly and do random inspections during working hours to see whether they are doing something nefarious or accessing things they aren't allowed to.

[Moiyah]

Yeaah another incident that no one should store their coins on exchanges. And for 2FA, google authenticator or authy would be a great of help to at least the security for your funds.

Though it happened to an unnamed crypto exchange, we can take this too as a lesson that dont ever trust your fund with anyone even a trusted exchange can have this kind of employee.

Indeed true. That is why I installed 2fa in my mobile phone to secure all my accounts. This is a lesson for those who are unaware about google Authenticator with 2fa.
The suspect was dazzled with the huge amount of bitcoin. I pity those who were victims which they thought that their balances are still intact.

[romero121]

This is the problem with centralized exchanges. If the same is a decentralized exchange then the employ could have never got the access to the funds. Now, if it wasn't found people will be பின் the respective exchange as a fraudulent one due to one employee mistake. Recently Quadriga exchange closure too is mentioned as a drama to steal user funds, and it is getting common in cryptocurrency industry employees stealing funds of the customers.

[Stanlo]

Online wallets are always that scary ,anything can happen to it ,I've lost some satoshi to online wallets and since then I've always use paper wallet to store my funds ,I hope people learned from this

[BTMBitcoinVN]

Storing your crypto online will ruin the security connected with the decentralisation of bitcoin. Just like with banks, it just takes 1 bad guy in a powerful position to ruin everything.

[eternalgloom]

Gambling addicts will do anything to get their fix, this is a good example of that.
You can tell by the way he was scamming people, that he was being very careless. I mean, changing people's recovery e-mails and scamming individual customers is just bound to get out eventually.

In the grand scheme of things, $26k isn't all that much, I'm sure that the exchange would have no trouble paying back that amount of money.
Heck, they probably make that in under a week if they have decent trade volume.

[aad140386]

It is good that the crime was revealed and the criminal was detained. I hope that soon police officers from different countries will be able to come up with a system for tracking stolen cryptocurrencies and the number of thefts will be much less. This will increase the attractiveness of cryptocurrency and will be able to stop the impunity of thieves. As far as I know, many countries are already trying to create systems for monitoring and tracking stolen funds. Of course, in parallel, it is necessary to improve the security of the crypto wallet and the security of the exchanges.

[drumamat]

As we can see, in the near future, there is a lot of news related to the cryptocurrency theft.This is a very serious problem.And really, you can protect your assets as much as possible using 2Fa.I think this is the best option.I suppose I have never heard that someone was deceived using 2Fa.

[JPSelzer]

I think that there are already a lot of similar stories that show us that you do not need to keep your money on the stock exchange. It's good that you published it here. I think it may be useful for many who are not yet aware of the security measures.

[Eildosa]

As it was silly for him to spend that kind of money on gambling. If I stole that much, I'd spend it on something useful. But either way, it's a good thing he got caught.

[bitfocus]

right, from this practical example, people can learn the importance of 2FA and the cons of keeping all the crypto on online wallet.

[DavidStone]

Ohh! He just ruined his career, I guess he spent the stolen money for trading or smth like this. So stupid.

[andi_wahid]

this is a warning for us to always use the 2FA security in e-mail or others. thank you for the information, but we should not be silent with one security because from day to day the hackers began to look for loopholes to break into. at least there must be several other safeguards.

[Slow death]

I have to say the following:

When someone goes to work somewhere where they will be responsible for other people's data and will be responsible for the safety of other people, that person must be someone honest and very professional. The company must supervise and audit its accounts and its workers so that it is seen that everything is well. I know people should also be careful, but let's give an example:

Imagine that someone does day trade in some exchange, the price does not choose time to rise or time to fall, so people become obligated and leave their coins in the exchanges. It is the duty of the exchange to protect the currencies of its customers, as well as the duty of a bank to protect people's money. If an exchange does not have the competence to guarantee the security of the people's currencies, then those exchanges must tell their customers that their clients must withdraw their funds and the exchange must close its operations

[Pab]

Looks like gambling addiction cause his criminal activity
Congratulation to UK Police to take that seriously
I am curious did he spent those money on bitcoin casinos
I agree it is bad idea to store coins on exchanges
We had last from  stories from Cryptopia ans Quadriga
 Quite big cmentarny of exchenges has been created  during last ten years

[imstillthebest]

As it was silly for him to spend that kind of money on gambling. If I stole that much, I'd spend it on something useful. But either way, it's a good thing he got caught.

what do you expect from a criminal ? do good things like donating to charities and orphanage  ? no they wont do those things because those things can kill thier image  . stolen money will always be used for bad activities such as gambling ,  buying drugs and alcohol , paying for hookers , and other's alike  ... its not a good thing either if he already got caught because the money cant be recovered anymore  .

[Kemarit]

This just proves that hackers aren't always from the outside and some are working on the inside--mostly within a company's ranks. This also proves the point that no one should ever, ever leave huge balances on exchanges even with 2FA as some people from the inside can still alter some information and possibly withdraw your balance. Good thing they know that something's up and nabbed the criminal before he can even do things on a larger scale. Exchanges should also screen their employees very thoroughly and do random inspections during working hours to see whether they are doing something nefarious or accessing things they aren't allowed to.

That's the scary part, people behind the exchanges should be the one helping us protecting our account, but sadly this one bad actor take advantage of the situation and chooses to be on the other side and be the bad guy. I guess we can't never stress enough the importance of 2FA and the funds you leave on a exchange, also it's a hassle to move funds around and cost you a few sats, but this precautions will really save you ass in cases like this. I used to work as Billing Operations Support, with access to lots of personal data but never in my mind did it crossed to steal for my own gain.

[coolcoinz]

As it was silly for him to spend that kind of money on gambling. If I stole that much, I'd spend it on something useful. But either way, it's a good thing he got caught.

It doesn't really matter since he was caught. He's most likely going to get his properties seized and auctioned off to give back what he stole from his victims. I can understand his way of thinking because an addict doesn't predict the consequences he just acts. He needed to feed his gambling addiction so he chose to steal and now he's going to end up in jail. A tragedy if you think about it.

[khufuking]

Why would anyone leave his exchange account with a balance on it without setting up 2FA that is beyond my thinking it is just flat dumb. By the way, I believe that all the exchanges so-called hacks are an inside job like this example we are seeing here nothing to be said can convince me anything else.