Stories about lost Bitcoin

[hZti]

To those who are seniors, I want to know how to avoid such damage?  If he told me, I would have benefited a lot.  As I am a new user please help me seniors with your valuable feedback

To avoid this you have to educate yourself about bitcoin. You can only give away your PUBLIC address to strangers. Do not give your private key, seed or anything else, since if you give other stuff away you are at risk of loosing your bitcoin. You can store your bitcoin on a paper wallet for longterm storage or on a hardware wallet for more secure storage. Software wallets are also good, but not as secure.

[BTCGalaxyA12]

Hello friends. Has anyone ever lost bitcoin? I am curious to listen to your stories. My purspose is to educate ourselves of possible scams, or rookie mistakes that we may do, that can lead to our BTC being stolen or lost.

Because they have learned a lot from the experience of predecessors or anyone who has experienced loss, they will always be careful in protecting anything that can make their Bitcoin disappear.
Because joining the forum in 2022, one of them we must be able to keep the seed phrase safe from the reach of viruses and others as we often read in every discussion.

[S A KHAIR]

As a newbie, mistakes are inevitable, I don't lose bitcoins by giving my private keys to someone, but I also lose a lot of bitcoins because of investing in scam projects like HYIP or Ponzi...The important thing is that we have learned from the experience and not let it happen again in the future.

[lovesmayfamilis]

I have never had to lose large sums of bitcoins, but I have had experience with storing seed phrases incorrectly. As a beginner, I experimented with wallets, choosing the most convenient for me. I made a bunch of wallets, and one day I got some money, just a few dollars, in one of the wallets. But since I was not careful with the storage and kept everything on my laptop, at one unpleasant moment my system crashed, and I lost all passwords and all phrases.
Losing a few bucks taught me to be careful; the amount is not big, but at one time it made me very upset. I can say that I belong to that group of people who learn from their mistakes. I was so confident in myself that I thought I was doing everything right. But life shows us the truth, which recommends learning from other people's problems in order not to get our own problems in the future.

[Crypto_H]

Hello friends. Has anyone ever lost bitcoin? I am curious to listen to your stories. My purspose is to educate ourselves of possible scams, or rookie mistakes that we may do, that can lead to our BTC being stolen or lost.

Edit: Back in Feb 2020, I gave my seed phrase to someone on twitter. The convinced me the seed phrase was equal to my address and that they needed it to send me bitcoin. Don't ask me why I was so stupid... I lost approx. 1M sats and I had to start accumulating again. I bought a Trezor and I started reading...

I had been an early investor in cryptocurrency and had amassed a significant amount of bitcoin over the years. I was proud of my investment and had been eagerly watching the market as the price of bitcoin soared higher and higher.

One day, I decided to transfer some of my bitcoin to a new wallet, so I could keep it more secure. I carefully copied the wallet address and double-checked everything before hitting the "send" button.

But when I checked my new wallet, the bitcoin was nowhere to be found. I panicked, wondering where my hard-earned cryptocurrency had gone. I frantically checked the transaction record, only to realize that I had accidentally copied the wrong wallet address.

I felt sick to my stomach. The bitcoin I had worked so hard to accumulate was now gone forever. I tried to reach out to the person who owned the wallet I had mistakenly sent the bitcoin to, but they never responded.

Days turned into weeks, and I couldn't shake the feeling of regret and frustration. I had lost a significant portion of my wealth in just a few clicks, all because of a simple mistake.

From that day forward, I became even more vigilant with my cryptocurrency investments. I triple-checked every transaction and made sure to always copy and paste wallet addresses with extreme caution. But the memory of my lost bitcoin never left me, a constant reminder to always be careful with my investments.

[ringgo96]

Actually there are many bitter experiences that we experience in the crypto world, losing assets that we already have is certainly a thing that is difficult for us to forget, and I have experienced this when sending Bitcoin to the wrong wallet address, and until now all these events have become very valuable experiences and always careful in making transactions, Moreover, as you did give the phrase seed there is a very fatal thing for our assets.

[Rupok]

I have never come across a bitcoin scam.  Ever since I started investing in Bitcoin, the number of scammers in cryptocurrency has been very low.But nowadays the number of scammers is increasing day by day.  But I lost some bitcoins due to my own mistakes.  Back in 2017 when the price of bitcoin was $12k I held some bitcoins, but later I lost some bitcoins due to a transaction to a wrong address.But the most important thing in cryptocurrency is to secure full access to your seed phrase and wallet.These accesses should never be shared with anyone, as sharing them is tantamount to giving away your bitcoins to that person.  And while adding different tokens to the wallet should be well justified because there are many scam coins in the market.

[Jody.Drummer]

I have never come across a bitcoin scam.  Ever since I started investing in Bitcoin, the number of scammers in cryptocurrency has been very low.But nowadays the number of scammers is increasing day by day.  But I lost some bitcoins due to my own mistakes.  Back in 2017 when the price of bitcoin was $12k I held some bitcoins, but later I lost some bitcoins due to a transaction to a wrong address.But the most important thing in cryptocurrency is to secure full access to your seed phrase and wallet.These accesses should never be shared with anyone, as sharing them is tantamount to giving away your bitcoins to that person.  And while adding different tokens to the wallet should be well justified because there are many scam coins in the market.

Oh, friends, hearing your story, you must be very annoyed with yourself, because losing you is a carelessness that should have been avoided. How not, sending bitcoins to the wrong address is clearly carelessness. Actually talking about the loss may not be because of fraudsters, but also occurs due to carelessness yourself, for example not double-checking the address when we make a transaction, or we connect our wallet to an unclear site. All of these experiences will definitely make us more careful in the future, and for beginners this is valuable learning for them because they can minimize the risk of seeing and hearing from the experiences of bitcoin holders who are older than them.

[apogio]

Hello friends. Has anyone ever lost bitcoin? I am curious to listen to your stories. My purspose is to educate ourselves of possible scams, or rookie mistakes that we may do, that can lead to our BTC being stolen or lost.

Edit: Back in Feb 2020, I gave my seed phrase to someone on twitter. The convinced me the seed phrase was equal to my address and that they needed it to send me bitcoin. Don't ask me why I was so stupid... I lost approx. 1M sats and I had to start accumulating again. I bought a Trezor and I started reading...

Bitcoin doubler for me when I was still inexperienced, way back in 2017. I thought that I can double it right away, the scam was good, they give me my first payout and so I reinvest it again, roll my bitcoin on that site. Then suddenly it goes offline and when I search about it, maybe have been bitching that they have lost big amount. Luckily for me, it's just small as I just want to test that scheme or shall I shall now "scam".

As for the seed phrase or private key, no I haven't go to that extend to give someone that information because right away I knew that it is very important to us. It's good that we have learn this kind of lessons when we are a newbie, it's a wake up call to us to really be vigilant and learn safety practices before hand as not to fall for this trick again.

This is an investment case, and when it comes to investing, there are different ways to lose bitcoins. I also joined many bitcoin doubler sites when I was new to the market and can say at the time, there were countless such sites, doubling bitcoin weekly, daily, and even hourly...I lost quite a bit at that point, but it was a pleasant experience I don't regret. I only lose when investing with greed and lack of knowledge, I have never lost or hacked in my bitcoin storage.

I ve never heard of this before... the bitcoin doublers.

As a newbie, mistakes are inevitable, I don't lose bitcoins by giving my private keys to someone, but I also lose a lot of bitcoins because of investing in scam projects like HYIP or Ponzi...The important thing is that we have learned from the experience and not let it happen again in the future.

I have never had this kind of temptation to buy something for quick money. However, I understand what you say and it is unfortunately very common.

I have never come across a bitcoin scam.  Ever since I started investing in Bitcoin, the number of scammers in cryptocurrency has been very low.But nowadays the number of scammers is increasing day by day.  But I lost some bitcoins due to my own mistakes.  Back in 2017 when the price of bitcoin was $12k I held some bitcoins, but later I lost some bitcoins due to a transaction to a wrong address.But the most important thing in cryptocurrency is to secure full access to your seed phrase and wallet.These accesses should never be shared with anyone, as sharing them is tantamount to giving away your bitcoins to that person.  And while adding different tokens to the wallet should be well justified because there are many scam coins in the market.

 

IMO, all the wallets should replace "seed phrase" with "secret phrase, don't share". That way newbies won't confuse it with a normal bitcoin address.

yeap. And there is also a misconception between passhphrase and passwords. The passphrase in BIP39 is extending your seed phrase and therefore in order to recover the wallet you need 12 + passphrase and you can recover it in any device that utilizes BIP39. If you lose your passphrase everything is lost. Some wallets also allow you to add a password which is tied to the specific device that you use and you can simply recover the wallet using your 12 words. If you forget your password you can just factory reset the device and import the 12 words later.

[suzanne5223]

In the early days of Bitcoin ^{(I am talking about 2015-2019 when rookies barely get the needed information that will help their Bitcoin journey)} a lot of people (I am one of them) have been the victim of crypto scam but now I believe any rookie that's a victim of a crypto scam is either greed or don't care about building her knowledge before diving into the crypto space because most scams of these days are still using the same strategy what they do is refine the strategy to make it look genuine.

[Becassine]

A few years ago I found a link on this forum to a site where people were talking about how they lost their bitcoins. Since then I've been trying to find that link, and it was with a search engine that I came across this topic. Maybe someone will find this link?

[kryptqnick]

Thankfully, I haven't lost any BTC along the way. But I did lose some Ethereum early on. I kept my BTC safer than ETH back then, and it was a time when not many places supported Ethereum (unless it's an exchange). So I knew that it's best not to keep ETH on an exchange, but I didn't know the difference between custodial and non-custodial wallets. I kept Ethereum in an online custodial wallet that was very popular back then, until one day I had a zero balance and a notification that the wallet company suffered allegedly from a hackers' attack. They offered 40% reimbursement to those who filed the requests early on, and I got 40% of my ETH back, which then gave me a nice profit over my initial investment because Ethereum has soon skyrocketed, but still, it's a loss and a lesson I remember. The lesson is simple: Not your keys, not your coins. Don't trust a centralized service, even if it seems popular and reliable.

[NicNacCoin]

Hello friends. Has anyone ever lost bitcoin? I am curious to listen to your stories. My purspose is to educate ourselves of possible scams, or rookie mistakes that we may do, that can lead to our BTC being stolen or lost.

Edit: Back in Feb 2020, I gave my seed phrase to someone on twitter. The convinced me the seed phrase was equal to my address and that they needed it to send me bitcoin. Don't ask me why I was so stupid... I lost approx. 1M sats and I had to start accumulating again. I bought a Trezor and I started reading...

No I have never lost bitcoins. But many scammers like you have sent me messages like this. But I never heeded their message. But I have often heard and seen cases like yours. If you can save yourself a little here, you will not fall into such problems. One thing you should always remember is that you will not get anything for free here. Of course you have to earn by working hard. Therefore, no matter how many such messages come, if you avoid them, you will definitely be saved a lot. I don't blame you because many newbies make mistakes like this. You made a mistake here you lost money and you are now one of the highest cautions.

[DeathAngel]

I’ve never lost any bitcoin but I have spent some whilst the price was very low in 2015 & 2016. Luckily I didn’t sell most of my stash but I did sell some very low to buy dumb stuff back in the day. I think it is character building though, early adopters have all made some silly mistakes earlier on but it makes you appreciate the bitcoin that you do have more.

[Hyphen(-)]

Hello friends. Has anyone ever lost bitcoin? I am curious to listen to your stories. My purspose is to educate ourselves of possible scams, or rookie mistakes that we may do, that can lead to our BTC being stolen or lost.

There are numerous ways to lose your Bitcoin that are not only due to scams, as a simple mistake made by you can cause you to lose all of your Bitcoin in a matter of seconds, particularly if you make a mistake in the wallet address you are about to send the Bitcoin to; if you make a mistake in the wallet address, you will automatically send Bitcoin to an unknown wallet and your Bitcoin will be lost forever.

Edit: Back in Feb 2020, I gave my seed phrase to someone on twitter. The convinced me the seed phrase was equal to my address and that they needed it to send me bitcoin. Don't ask me why I was so stupid... I lost approx. 1M sats and I had to start accumulating again. I bought a Trezor and I started reading...

Because of these types of errors, it is always advisable to obtain some basic knowledge about Bitcoin, keys and addresses, and blockchain technology before beginning your Bitcoin investment, so that you do not fall for such scams, because if you know you would know that there is a difference between wallet address and seed phrase.

[serjent05]

I’ve never lost any bitcoin but I have spent some whilst the price was very low in 2015 & 2016. Luckily I didn’t sell most of my stash but I did sell some very low to buy dumb stuff back in the day. I think it is character building though, early adopters have all made some silly mistakes earlier on but it makes you appreciate the bitcoin that you do have more.

Well, Bitcoin needs to be spent to make its economy active.  So there shouldn't be any remorse on that.  Bitcoin had achieved its status now because of the help of people who are eager to buy, spend, and sell their Bitcoin.  This makes the Bitcoin market lively and adoption to proliferate.

Anyway, I never lost my BTC because I gave my private key to anybody else but I lost my holdings due to an account hack on one of the exchanges I used to trade/store my BTC.  It was a lesson learned that one should not make exchanges as a stash and always enable 2fa for more security.

[Lida93]

Had my own fair share with virtual mining machine scam from a certain site like that. It's been almost three years now I can really recollect the site address but it was introduced to me by a childhood friend and what certainly convinced me was that fact that he had just made his first withdrawal from the mining stuff which raised up his optimism about the whole stuff by deciding to put in money 3x the initial amount he first invested and I did same too after much explanation from him.

To cut long story short, few days to our expected withdrawal we got locked out of the site till date. Immediately I knew I have been scammed through a gullible bro. Not until I got to know about bitcointalk community and with all informations I have gathered from mind blowing members in the community about crypto and Bitcoin in particular it's easier now for me to discern a scam scheme or trick when I see one from afar.

[AmoreJaz]

I’ve never lost any bitcoin but I have spent some whilst the price was very low in 2015 & 2016. Luckily I didn’t sell most of my stash but I did sell some very low to buy dumb stuff back in the day. I think it is character building though, early adopters have all made some silly mistakes earlier on but it makes you appreciate the bitcoin that you do have more.

Well, Bitcoin needs to be spent to make its economy active.  So there shouldn't be any remorse on that.  Bitcoin had achieved its status now because of the help of people who are eager to buy, spend, and sell their Bitcoin.  This makes the Bitcoin market lively and adoption to proliferate.

Anyway, I never lost my BTC because I gave my private key to anybody else but I lost my holdings due to an account hack on one of the exchanges I used to trade/store my BTC.  It was a lesson learned that one should not make exchanges as a stash and always enable 2fa for more security.

if all are thinking of holding and not selling, i don't think we will see this market as active as now. we need movement in any market so the supply demand will also be prominent. it will be a stagnant market if no one is selling, and don't know if the price will reach to this level. and as much as possible, the use case such as being in the payment sector should be in active mode to assess its actual value in the market. without use case, you can't determine the value of a certain currency.

[Jawhead999]

if all are thinking of holding and not selling, i don't think we will see this market as active as now. we need movement in any market so the supply demand will also be prominent. it will be a stagnant market if no one is selling, and don't know if the price will reach to this level. and as much as possible, the use case such as being in the payment sector should be in active mode to assess its actual value in the market. without use case, you can't determine the value of a certain currency.

It's true if all people don't want to sell their coins, the market will not active. But the market will not be stagnant because people who want to buy Bitcoin will place order buy with higher price in order to attract people to sell their coins, this will increase Bitcoin price because people willing to buy Bitcoin with a premium price.

I think that's what happen during bull market, many people want to buy Bitcoin with premium price.

[Party24*7]

if all are thinking of holding and not selling, i don't think we will see this market as active as now. we need movement in any market so the supply demand will also be prominent. it will be a stagnant market if no one is selling, and don't know if the price will reach to this level. and as much as possible, the use case such as being in the payment sector should be in active mode to assess its actual value in the market. without use case, you can't determine the value of a certain currency.

It's true if all people don't want to sell their coins, the market will not active. But the market will not be stagnant because people who want to buy Bitcoin will place order buy with higher price in order to attract people to sell their coins, this will increase Bitcoin price because people willing to buy Bitcoin with a premium price.

I think that's what happen during bull market, many people want to buy Bitcoin with premium price.

If you look at the market, the traders are much more than the holders. Holders like us are only a fraction of the market. So there is no way the market will stand still without any buy or sell orders. But whether you are a holder or a trader, the goal is still profit, so just pump bitcoin up to a high price, and people sell bitcoins massively, no one can hold it forever.