An investor lost $24 million worth of bitcoin

[barabarian1]

I am also sad to read this story hacking always happens in cryptocurrency a few months ago I also watched the news about a young man who managed to break into the American corporate network and hack it then asked for a ransom of bitcoin. cryptocurrency is very vulnerable to theft and hacking. therefore we always have to be careful when making crypto transactions and install security in our wallets using 2af. because hackers always have a way to break into our wallets.

[Wysi]

I am also sad to read this story hacking always happens in cryptocurrency a few months ago I also watched the news about a young man who managed to break into the American corporate network and hack it then asked for a ransom of bitcoin. cryptocurrency is very vulnerable to theft and hacking. therefore we always have to be careful when making crypto transactions and install security in our wallets using 2af. because hackers always have a way to break into our wallets.

Yes true that's really saddening and shows the vulnerability of crypto and wallets when it comes to security. These hackers are too cunning and ruthless they hacked my friend's wallet as well and got away with crypto worth $40,000 which literally made him broke. I think it's our responsibility as well to have security features enabled like 2FA and all.

[Jalinayr]

I think this thing not be happened because if you hold a huge amount of Bitcoin you need to find some hardware wallet like trezor or anything like that, because at the first place you need to think about your security.

[akirasendo17]

I always tell to my friends always make sure you are secured your computers, mobile phones and everything that is connected to something like money crypto
that will compromise it, having a authentication and other features to be able to relax everyday without having to think that is my phone secure my account secured?
those are the things that we should not want to happen to our life, having to wake up in the morning and realize its all gone, so please im begging you never ever
depend on one security always make sure there are one or more security features from any of those things

[Eugenar]

I always tell to my friends always make sure you are secured your computers, mobile phones and everything that is connected to something like money crypto
that will compromise it, having a authentication and other features to be able to relax everyday without having to think that is my phone secure my account secured?
those are the things that we should not want to happen to our life, having to wake up in the morning and realize its all gone, so please im begging you never ever
depend on one security always make sure there are one or more security features from any of those things

Based from my experience, you can't really tell them to completely stay anonymous and safe in cryptocurreny. Why? Because in cryptocurrency, there is allot of opportunities when you cosider yourself as a risk take, and being a risk taker involves you being able to try out new things. What we can just provide them that is considered effective is to separate their main account from accounts that could be use to experiement. In this regard, why don't they try to use offline hardware wallets to secure their funds.

[vlasrodz]

A Crypto investor Michael Terpin lost roughly 1,5oo bitcoins on January 7, 2018, after falling victim to a SIM swap attack, The Wall Street Journal reported.
The bitcoin stake was worth $24 million that day, roughly three weeks after the asset hit its record high price.
The incredibly precise hack involves thieves taking control of a phone number and using it to access email accounts, bank reserves, and even crypto wallets.
Visit the Business Insider homepage for more stories.
One crypto investor lost bitcoin worth as much as $24 million after falling victim to a new kind of hack known as SIM swapping, The Wall Street Journal reported.
Michael Terpin was hit by the attack on January 7, 2018, days after bitcoin reached its record high price. Thieves stole roughly 1,500 bitcoins by taking control of his phone number and using Google's "Forgot password?" feature to gain access to his email. With possession of the two personal accounts, the thieves hacked Terpin's crypto wallet, stole the digital assets and quickly sold them, according to WSJ.
Bitcoin traded between $16,969 and $15,790 per coin on January 7, 2018. The digital coin now trades at roughly $8,700.

Source:
Wall Street journal

Commoooon!

[JC btc]

I always tell to my friends always make sure you are secured your computers, mobile phones and everything that is connected to something like money crypto
that will compromise it, having a authentication and other features to be able to relax everyday without having to think that is my phone secure my account secured?
those are the things that we should not want to happen to our life, having to wake up in the morning and realize its all gone, so please im begging you never ever
depend on one security always make sure there are one or more security features from any of those things

Based from my experience, you can't really tell them to completely stay anonymous and safe in cryptocurreny. Why? Because in cryptocurrency, there is allot of opportunities when you cosider yourself as a risk take, and being a risk taker involves you being able to try out new things. What we can just provide them that is considered effective is to separate their main account from accounts that could be use to experiement. In this regard, why don't they try to use offline hardware wallets to secure their funds.

That's why it is important that we will tell this to people especially to our friends and relative to have extra precautions with this as they won't retrieve something that was hacked to them, so be very careful and always and be concern to other people, and if you are new and don't have any info, better to ask in forum or search for your safety..

[danggoron]

That's why it is important that we will tell this to people especially to our friends and relative to have extra precautions with this as they won't retrieve something that was hacked to them, so be very careful and always and be concern to other people, and if you are new and don't have any info, better to ask in forum or search for your safety..

Basically everything has its own risks. And the best thing that can be done is to understand the ecosystem to be able to take preventative measures. This precaution is useful to minimize the risk of loss, although there are still other risks that follow, at least we have tried. Because everywhere, there will always be "thieves".
In addition, we also have to prepare mentally and strategy, especially cryptocurrency full of mystery. Always remember, never invest money that you can't afford to lose.

[rdluffy]

I remember this thread yesterday, another problem with sim swap atack, this time the victim was my stepfather
The people who did this stole a good amount of money in the bank, pay some bills, take the whatsapp of my stepfather and asks money to his friends

It's incredible how easy you can lose a lot of money with this problem, and for me the mobile company have total guilty in these cases, because the only possible way to change a number of sim, is being present at a store with your id to prove

[Velkro]

This sucks, I see stories like this all the time on here. He really shouldn’t have been keeping that amount of crypto online though. It should be on paper wallets or a hardware wallet. Sad for him

He learned his lesson tho.
Jokes aside, this is pain in the as@% for "old investors" used to stock market, banks and general no brain needed in terms of security.
Now when you are your own bank and YOU must handle all things that bank needs to handle so hacking, scams, not paying back loans etc etc it start to show human errors.

This is first in financial history that people need to gain big knowledge to invest/keep it safe.

[Silberman]

This sucks, I see stories like this all the time on here. He really shouldn’t have been keeping that amount of crypto online though. It should be on paper wallets or a hardware wallet. Sad for him

He learned his lesson tho.
Jokes aside, this is pain in the as@% for "old investors" used to stock market, banks and general no brain needed in terms of security.
Now when you are your own bank and YOU must handle all things that bank needs to handle so hacking, scams, not paying back loans etc etc it start to show human errors.

This is first in financial history that people need to gain big knowledge to invest/keep it safe.

This is not really the first time in history in which something like this has happened, in fact that is the reason banks exist at all, long time ago when people used gold those that had a lot of money were most of the time the targets of thieves and they had to find ways to secure their coins, this sounds familiar doesn't it? Eventually someone had an idea, to create a place where people could store their coins securely, it was a success, and then he began to use the money that he had in his vault to make loans creating what we know as a bank.