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Author Topic: [2014-09-30] CD: Early Bitcoin Adopter lost 750 BTC because of his stupidity  (Read 2270 times)
LiteCoinGuy
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September 30, 2014, 03:56:04 PM
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Early Bitcoin Adopter lost 750 BTC because of his stupidity

Treasure, a former computer science student and bitcoin entrepreneur from Perth, Australia, told CoinDesk he was traveling in Bali and didn’t think connecting to public Wi-Fi could be a security issue as his bitcoins were stored locally.

Upon reading about the ‘Bash Bug‘, he checked one of his bitcoin addresses on the block chain and noticed an unfamiliar transaction.

Once he synchronized the Bitcoin-Qt client on his MacBook, the ‘sent’ records confirmed the worst. A series of transactions leading to unfamiliar addresses had occurred from his wallet.

It was no small hack – the amount stolen represented the majority of Treasure’s bitcoin holdings, leaving him with only small amounts stored elsewhere.

Treasure admitted that keeping such a large stash on his hard drive wasn’t a good idea, but confessed to having the “could never happen to me” feeling of false comfort that precedes many a disaster.



http://www.coindesk.com/early-bitcoin-adopter-calls-multi-sig-solutions-750-btc-theft/



750 BTC in a hot wallet on your macbook with public wifi, on a travel around the world and then lost all BTC ? cant see something wrong here.

but iam glad that the lost BTC were found by someone else  Grin

"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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September 30, 2014, 07:17:14 PM
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I can't believe he had that much in a hot wallet.

Technology is a harsh mistress, and he'll never forget that lesson. Apparently he has more stashed away, so don't go passing the hat around just yet. I guess its the most brutally "fair" system devised though, if you screw up, you pay the price.

fortitudinem multis - catenum regit omnia
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September 30, 2014, 07:21:54 PM
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complete idiot.
especialy when devices as http://www.bitcointrezor.com/ are availbele....

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October 01, 2014, 12:43:57 PM
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I feel bad for him; have dealt with him in the past buying ASICs, he's a good guy.  Would not wish that loss upon him.

 
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LiteCoinGuy
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October 03, 2014, 06:39:20 AM
 #5

bad for him yes. i never said that he is not a good guy but especially when you are a computer nerd like him: Facepalm!

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