Bitcoin Robbery

[Crptomagma]

Security is also man basic needs on earth because it’s very devastating and most times deadly when someone steals our valuables. The reason I suggest for a confirmation code for every transaction is simply because bitcoin and most crypto are decentralized making it almost impossible to recover lost coins. There should be a confirmation code sent to our email or phone number during transaction in crypto wallets to originally prove the transaction is being performed by the real owner of the wallet, once  the confirmation code is received via gmail or any other means and has been copied in the appropriate place. This action will automatically confirm the transaction in the wallet.

I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.

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[GreatArkansas]

Security is also man basic needs on earth because it’s very devastating and most times deadly when someone steals our valuables. The reason I suggest for a confirmation code for every transaction is simply because bitcoin and most crypto are decentralized making it almost impossible to recover lost coins. There should be a confirmation code sent to our email or phone number during transaction in crypto wallets to originally prove the transaction is being performed by the real owner of the wallet, once  the confirmation code is received via gmail or any other means and has been copied in the appropriate place.

It's like two-factor authentication (2FA) for every withdrawal or outgoing transaction in your wallet. I believe that this is already existing in some centralized Bitcoin wallets or crypto wallet providers, even on centralized exchanges that allow you to withdraw your cryptocurrency.
But there are still some decentralized cryptocurrency wallet providers that also have this kind of feature, as far as I remember, Coinomi is one of the cryptocurrency wallets, they have featured before that you have some password that using when you are doing a transaction or logging into your wallet.

Overall, I don't find any good reason to add this kind of feature for a decentralized cryptocurrency wallets, if you want to be safe your funds, start with yourself, practice safety measures, especially adding some security to your phone so before they can open crypto wallet, there is still some security they need to pass.

[Dave1]

This is well known already, it's the $5 wrench attack:



https://xkcd.com/538/
If you want to know more, here is a list of known bitcoin physical attacks:

https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md

So in any case, if you are into bitcoin or crypto in general, don't tell anyone, specially in public places as criminals are roaming around and looking for their next victims.

This website can help you as well: https://cryptosec.info/

[Darker45]

Perhaps the best form of security is providing no indication that you own Bitcoin. Tell no one that you have some. Outside of this, there is really no guarantee that you are safe. Use all kinds of encryption; use 2FA, email confirmation, OTP through your mobile phone, finger and retina scanners; use a hardware wallet, and so on and so forth; that does not mean you are 100% safe. If somebody knows you own Bitcoin and you are held at gunpoint, which would you choose, your Bitcoin or your life? Well, perhaps it helps if you are storing your Bitcoin in smaller amounts in different wallets.

[sirminesalot]

This is well known already, it's the $5 wrench attack:



https://xkcd.com/538/
If you want to know more, here is a list of known bitcoin physical attacks:

https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md

So in any case, if you are into bitcoin or crypto in general, don't tell anyone, specially in public places as criminals are roaming around and looking for their next victims.

It's sad when a highly private digital wallet like cryptocurrency could be "highjack" by thug person like that, consequently as a crypto wallet owner we should not share our crypto's owning to social media or to anything on the internet. Usually new people on crypto who have the wallet with thousand bucks or after got hundreds percent profits from trading futures is feeling like so cool and post their things on their social media and let their friends think they're so cool as the "crypto guy".

[aoluain]

Bitcoin wallet, using a hardware wallet will provide those security measures,
needing a passphrase or series of numbers to access the device, sending a transaction
needs the owner to verify each transaction.

Personal security hasnt changed, we need to be vigilant and try to keep our posessions
secure particularly smartphones as they hold so much information. Broadcasting
ownership of Bitcoin publically IMO is a no-no.

Being able to defend ourselves is important, most thiefs are opportunistic.

[bittraffic]

Security is also man basic needs on earth because it’s very devastating and most times deadly when someone steals our valuables. The reason I suggest for a confirmation code for every transaction is simply because bitcoin and most crypto are decentralized making it almost impossible to recover lost coins. There should be a confirmation code sent to our email or phone number during transaction in crypto wallets to originally prove the transaction is being performed by the real owner of the wallet, once  the confirmation code is received via gmail or any other means and has been copied in the appropriate place. This action will automatically confirm the transaction in the wallet.

I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.

How did the robber know that she has a blockchain.com wallet or even have BTC?

I wouldn't really think that all the people in your area have BTC which robbers could just randomly rob anyone and ask for blockchain wallet login. They've got to have information which they know that she has bitcoin. This could be a common crime eventually when there is mass adoption. Probably ask for MEW wallet too.

[NotATether]

How did the robber know that she has a blockchain.com wallet or even have BTC?

I wouldn't really think that all the people in your area have BTC which robbers could just randomly rob anyone and ask for blockchain wallet login. They've got to have information which they know that she has bitcoin. This could be a common crime eventually when there is mass adoption. Probably ask for MEW wallet too.

I bet that they simply stole her phone and went through the apps, and saw the Blockchain.com app on it. I doubt that they would just randomly ask for crypto wallets unless they know the victim has one.

[swogerino]

What is the police doing,in my country there are cameras everywhere,a lot of criminals,even murderers have been caught and arrested thank to these cameras.No one can steal anything you in the road here,they can kidnap you yes but as I said there are cameras everywhere so this is very difficult.

I have said many times that I am a fan and enthusiast about Bitcoin and so are many others here yet we don't have fear of being robbed.Online robbery is another thing and only us are responsible for the security of our wallets.

[Welsh]

The great thing about using a currency which isn't mainstream is no one will assume that you are holding any, if you don't tell someone that you use Bitcoin, and there is no evidence on you at the time of robbery that would hint to you holding Bitcoin, they probably aren't going to try, and get that information out of you. Therefore, as long as you don't tell anyone, you could argue that holding value in Bitcoin has its own defense mechanism, simply because most robberies are looking for items that you have on you that are of value, and fiat.

Therefore, you could just give up the cash that you have on you, which should be minimal because you shouldn't be carrying all that much, and then you hopefully would be holding most of your money in Bitcoin rather than fiat.

[yazher]

Here's a reason why you don't blabber too much on how you earn money, you don't know who's listening and you don't know if they are a malicious entity, remember to always be lowkey and if there's an incident like this in a neighborhood, if able to move, you need to move away from that neighborhood.

Even though you are not earning too much money it's best to be someone like a normal person in your community or in the crypto industry because of the other people that will hunt you if they know you got something big in your wallet. These kinds of people are expert scammers and they have some unique strategies on how to get your money or how to steal it from you. They won't hesitate as soon as they see some hole or if they can get it from you. they will execute their plan as soon as they can. It's fine to let people think that we are fools as long as we know what we really are.

[Kong Hey Pakboy]

What is the police doing,in my country there are cameras everywhere,a lot of criminals,even murderers have been caught and arrested thank to these cameras.No one can steal anything you in the road here,they can kidnap you yes but as I said there are cameras everywhere so this is very difficult.

I have said many times that I am a fan and enthusiast about Bitcoin and so are many others here yet we don't have fear of being robbed.Online robbery is another thing and only us are responsible for the security of our wallets.

Cameras aren't reliable, I mean most of them don't have a high definition camera so it's going to be hard to chase them of if they have that kind of outdated surveillance system. Also, the only way to prevent this kind of thing is for the people to stay humble and don't flaunt your money where a lot of people can see.

[kryptqnick]

Security is also man basic needs on earth because it’s very devastating and most times deadly when someone steals our valuables. The reason I suggest for a confirmation code for every transaction is simply because bitcoin and most crypto are decentralized making it almost impossible to recover lost coins. There should be a confirmation code sent to our email or phone number during transaction in crypto wallets to originally prove the transaction is being performed by the real owner of the wallet, once  the confirmation code is received via gmail or any other means and has been copied in the appropriate place. This action will automatically confirm the transaction in the wallet.

I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.

In my case, there's no confirmation for a transaction, but I have 2FA enabled in order to access the wallet. So if I'm already in the system, I can spend money, but to get there, I have to go through confirmations. I think it's a common and sufficient practice to limit mistakes and hacks. As for the gun point, this is an extreme situation, in which no additional confirmation would help not to lose the money. In case of a robbery, I think that mental stability and staying alive is way more important than securing your money. And if she had some confirmation set up, the robbers would just ask for that and leave once everything is complete.

[leea-1334]

OP you are simply saying what most security people already say,,, which is, secure your device and make sure only you have access. You can still use Bitcoin as it was intended, to be only accessed by you and you alone. Even on Electrum you can install 3rd part 2fa confirmation so you do not need to rely on external wallets or websites to protect your coins.

Lost wallets is not a weakness of Bitcoin, it is a weakness of storage. If you also lost your passport, nothing can help you recover it

[Yaunfitda]

Security is also man basic needs on earth because it’s very devastating and most times deadly when someone steals our valuables. The reason I suggest for a confirmation code for every transaction is simply because bitcoin and most crypto are decentralized making it almost impossible to recover lost coins. There should be a confirmation code sent to our email or phone number during transaction in crypto wallets to originally prove the transaction is being performed by the real owner of the wallet, once  the confirmation code is received via gmail or any other means and has been copied in the appropriate place. This action will automatically confirm the transaction in the wallet.

That is the basic part of decentralization, you only have the key and you need to protect it by any sense. You can used 2FA, and this is what you are describing.

I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.

This is another thing, you can't do anything if someone is pointing a gun in your face. Not sure how your friends become a victim and it's unfortunate event. I can only speculate that she might have talk to someone offline or online and blurted about her bitcoin stash. So that's a big lesson not to divulge your bitcoin holdings to a total stranger, just keep a low profile.

[batang_bitcoin]

What you're asking is already being done by centralized wallets and exchanges so there's really no need for that to ask. As you have said that this is a decentralized market, you're responsible for your every action. Looking at the perspective of receiving a code or a confirmation then it's not decentralized anymore. But if you use non-custodial wallets then you just have to activate the 2FA and everybody knows that and probably a few still doesn't that are very new.

[btc78]

I thought this is a story of someone being a victim or a latest news about Bitcoin robbery but it seems like this is just another Old thread that tackles about 2fa ( two factor authentication)

we must always secure our account with 2fa because scammers and hackers are more great than before , there are even scenario that a newly created account after depositing losses his funds because of no 2fa.

But thanks for the reminder this might be fore Newbie in crypto or those old timer that has Hard head not putting security in their funds.

[Potato Chips]

Get a Second phone. Most people only owns one smartphone at a time hence there's a high chance the robber wouldn't be able to think you have another one. Worst case scenario is if they thoroughly check your bag (get a bag with secret pockets!) although IMO most robbers are in hurry and so I don't think this is something highly likely.

If you can, leave your main phone at your house. That would provide better security.

[Jawhead999]

OP do you create fake story?

If the robbery only know the blockchain password, how can he able to log in? He need to confirm the confirmation link send to your friend email.

If the robbery know the seed pharse of your friend wallet, then your suggestion is useless since they don't need to confirm 2FA.

And it's not about security, but privacy of the person.

[bitterguy28]

OP do you create fake story?

 

Obviously mate this is a Merit farming thread , there is no clear statement in this one actually .

even the title is Misleading because i find interest visiting the thread because of the "Robbery" word in which i look for the story behind that but seeing nothing but a generic story  

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Anyway , Nice Story OP   you entertained us .