gentlemand
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Welt Am Draht
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February 22, 2020, 02:16:40 PM |
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The Banks NEVER accept responsibility for so-called hacks like this and they always put the blame on you.
In the UK it's still a bit of a grey area. Plenty of people have been reimbursed after being conned or hijacked but it seems to be on a very case by case basis. What sucks more is that phone companies seem to be indifferent and immune to the problems their slackness creates. Whole lives are tied up in phone numbers now and that doesn't seem to have dawned on them. |
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fiulpro
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February 22, 2020, 02:45:20 PM |
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Considering they are telling the truth they should have known a few thing about cyber security
*Even giving your mobile to someone for a while might pose a threat for you , your personal data , your personal savings , all gone.
*Using a paper wallet needs good investment , just go and lock it down in an unknown cabin for like a 1000's years if you can't take care of it
*One should know there are softwares that if you download can hack all your mobile in few seconds , or links if you click accidentally or on purpose can cause you great distress .
*One should learn a thing or two about cyber security that would help them in the long run.
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20kevin20
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February 22, 2020, 03:34:37 PM |
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Holding millions of dollars and not even caring about the minimum security of your funds. Pretty dumb.
I can't take the risk of losing even $1 worth of BTC. If I was to own this much money, I'd probably spend more than five grand on security. Those relying on their email/phone or on a centralized service such as Blockchain.info, especially with these immense amounts at stake, is stupid as the risks are obviously there..
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dunfida
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February 22, 2020, 03:57:18 PM |
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Another sim hacked? this is huge and I don't know what to say either if ever I'm on that situation.
Can an expert explain how did the hacker got his funds?
Sim hack? Try to read this up on how its being done https://www.pandasecurity.com/mediacenter/security/sim-hijacking-explained/On topic, i dont know why do people really trust up some centralized services on storing up their holdings. We are talking millions of dollars here and it would be much more safer if they do just consider on buying or budgeting a hundred bucks for some hardware wallet. Well, its too late to regret now. |
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Artemis3
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CLEAN non GPL infringing code made in Rust lang
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February 22, 2020, 04:13:41 PM Merited by vapourminer (2) |
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Obviously not, and what has this to do with Bitcoin? Its clearly not Bitcoin's fault someone couldn't have the discipline of handling his/her own money correctly. Time and time again we warn people to be serious handling those wallets, and moving to cold wallets important sums, and yet this keeps occurring. Its the human error, Bitcoin is not at fault, Bitcoin was NOT "hacked", some guy SIM was, and this is as silly as it can get (large sums depending on a mobile, really?) 2fa? Hmmpf. Give me a piece or paper to write my words with my own hands. To move those funds you are forced to manually open that paper and type those words into a secure computer and there is no magical way around it, you just cannot connect to a "cold" piece of paper, and if its folded good luck taking pictures of it, and if its properly hidden, stenographed, or whatever; well you can imagine the chances. |
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wiggi
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February 22, 2020, 05:54:54 PM |
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I don't know this story how much true or false. A crypto whale is so weak with the security of his own assets! I Can't Imagine this. If I had this amount of assets, then of course I would have spent good amount in order to increase security to protect my assets from bad boys. When you have million dollars worth of assets you certainly cannot protect these assets with a sim, this is very risky. He learned a very expensive lesson!
Claims of being hacked and having lost Btc are just too easy to make. If the story was an attempt to manipulate prices, then this would also explain facepalm worthy press coverage like Cointelegraph's "Bitcoin Cash faces slow death after 30m hack". |
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kryptqnick
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Join the world-leading crypto sportsbook NOW!
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February 22, 2020, 06:02:21 PM |
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Bitcoin dropped more than 6%, I wonder whether the main reason is this new hack (or information suggesting that it occurred). To be honest, I don't usually trust some Twitter accounts claiming that something happened, even if the accounts are not unpopular. I can see the webpage with transaction IDs, sure, but it does not itself mean that the money was stolen. It could be transferred for various reasons. Moreover, I noticed that reputable media wrote 'allegedly hacked' in their coverage of this story. So perhaps it did not even happen... Yet the FUD, in any case, was probably enough to cause a price drop. This SIM swapping stuff is very frightening, though, even if this particular case is not related to it.
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johnyj
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Beyond Imagination
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February 22, 2020, 09:01:10 PM |
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There has been some talk in chinese twitter that BeiJing police could (in theory) order the biggest 3 mining pools to do an reorg to get the stolen coins back. So fragile the bitcoin network currently is
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pixie85
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February 22, 2020, 09:29:28 PM |
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That twitter account does not have much credibility. I remember it posting fake news about Chinese president banning cryptocurrencies a few months ago and that coincided with that first dump belo 10 thousand dollars in 2019.
I wouldn't call that news bad for BTC or BCH. He was careless if he kept everything on a single address with only a phone numbre protection. SMS verification is an old system that was popular before authenticators and hardware wallets were made. It may be good for your bank where there are rollbacks but not your crypto.
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20kevin20
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February 22, 2020, 09:47:59 PM Merited by vapourminer (2) |
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There has been some talk in chinese twitter that BeiJing police could (in theory) order the biggest 3 mining pools to do an reorg to get the stolen coins back. So fragile the bitcoin network currently is
That should've happened minutes after the hack if that was the case. This is a scenario in which you have to act quickly. Otherwise, someone's gonna be really damaged from this theft. If the hacker manages to put their coins in a coinjoin/mixer and spend the BTC and BCH on stuff and then the reorg happens, the products will be delivered basically for free to the thieves and a LOT of Bitcoin users will be affected. Possibly even the reader of this reply, if they had a BTC transaction after the hack and part of the funds (or the entirety) comes from one of the many addresses the hacker had. The Beijing police won't do shit. Ordering the pools to do a rollback would affect even the largest companies in the world and a reorg will come with a cost. Binance had a $40M hack last year and the reorg idea came up too. However, Changpeng Zhao from Binance tweeted out saying it's a bad idea for a good reason. First thing that came up in my mind when I read "reorg" in your post was the credibility of Bitcoin. If hacks would lead to the reorg in order to reverse them every time, it would literally be manipulating the blockchain. If so, then how will the miners ensure me they are not going to do a reorg with malicious intentions behind it? I would personally start becoming skeptic and doubt the future of BTC if we ever head that way. If the police can order that, then it means they can also order the reorg when I spend my BTC in a way they consider suspicious, if I go through a mixing service or, worse, they can seize anyone's funds that way. There are too many consequences. It's just not worth it. If one is dumb enough to not secure their MILLIONS, then it's their fault. Nobody will reverse time in the Universe if you leave 100kg of Gold uncovered in front of your porch. |
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Utoy101
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February 22, 2020, 10:14:03 PM |
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These hacks happening here and there, it's really giving the traditional finanacial institutions an edge against cryptocurrency. With the way things are going, no one is perfectly safe in this space as all your life savings and investment might be gone within a blink of an eye. I don't know if it's right to say this, but i think crypto isn't really the best assets to put in all your life savings
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gentlemand
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Welt Am Draht
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February 22, 2020, 10:50:30 PM |
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There has been some talk in chinese twitter that BeiJing police could (in theory) order the biggest 3 mining pools to do an reorg to get the stolen coins back. So fragile the bitcoin network currently is
Don't be a twat. Miners will abandon any pool in seconds that takes that idea seriously. A mining pool is not a miner and never, ever will be. Miners know better than to even voice the idea. 15 million is fuck all and no one's going to care other than the owner. BCH however.... - https://www.removeddit.com/r/btc/comments/f7lbae/30m_bch_sim_hack/ |
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MystMoney
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February 22, 2020, 11:50:32 PM |
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It's hard to believe stories like this. It could have been staged by the owner to run away from obligations (i.e. taxes). Who would really store a huge amount on their mobile phone? And to say that he is a security expert makes it even worse. If it were true, did he really asked for the miners to rollback?
Sounds like bull, someone would need to be a Billionaire to be that careless with $45 Million on a cell phone. Stories like these make people worry about BTC, when it is actually still safe. |
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gentlemand
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Welt Am Draht
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February 23, 2020, 12:03:41 AM |
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Sounds like bull, someone would need to be a Billionaire to be that careless with $45 Million on a cell phone. Stories like these make people worry about BTC, when it is actually still safe.
It's not a phone hack, it's a 2FA hack. It wouldn't matter if they hijacked your sim if a wallet was on there. You'd still be in control of the data on there. Presumably it's an exchange account or even some online wallet. |
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mahilchii
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February 23, 2020, 02:16:57 AM |
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I am really saddened after hearing this news, this is just insane. I don't know how much true the news is but feel sorry for him, let carelessness be a way on the other hand security systems need a strong enforcement to stop all these things.
Also I don't have any idea about how the miners would help to recover his stolen coins.
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LogitechMouse
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Chancellor on brink of second bailout for banks
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February 23, 2020, 02:32:02 AM |
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Really a sad news but this is just one proof that crypto is very vulnerable to hacks and we must double our security with regards to the coins we are holding especially if we are holding huge amount.
At the time that is posted on twitter, nothing really happened that much with either BCH or BTC although it went down slightly from its previous price on a daily chart. Probably the hacker didn't sold either BCH or BTC yet or it has been sold days ago before the post (probably 3 days ago before the post where there is a huge red candle on the chart).
With this, I'm expecting for a further downside in the next few days.
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xvids
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February 23, 2020, 02:58:13 AM |
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What if this was just stage to creatr FUD since we are near halving?
And the question is why didn't the whale secure it on a hardware wallet since it is a huge amount.
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matchi2011
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Buy $BGL before it's too late!
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February 23, 2020, 03:25:29 AM |
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What if this was just stage to creatr FUD since we are near halving?
And the question is why didn't the whale secure it on a hardware wallet since it is a huge amount.
Possibilities are there for this reason, knowing that he's a so-called whale give people ideas that he knew the importance of securing his funds. Though it's also just an opinion and we really can't say what's the real score the matter right now is to how we can balance our decision making just in case there's movements that will take place after this news. |
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BlackFor3st
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February 23, 2020, 04:46:47 AM |
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What a big loss, miners should cooperate with this problem so the hackers cannot get hold of this amount as it can surely affect the market if it will be dump. The owner should also announce the exact amount that he/she is willing to give to those who can help him/her so it can give attention to those who have control over this transaction. I am not really familiar with SIM hacked but I knew already how scary it is as it was able to penetrate this amount. |
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Mpamaegbu
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Once a man, twice a child!
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February 23, 2020, 05:10:10 AM |
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These hacks, now and then, are a major reason the crypto business is still scary. One would think one already had the cryptos secured in a wallet (even with private keys) only to discover upon login that one had been hacked. Nevertheless, if I were the victim of that hack I wouldn't be putting all my BTC in a single wallet. I would split that into (at least) 10 different wallets.
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