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Family loses life savings when hackers empty crypto wallet

Family loses life savings when hackers empty crypto wallet



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18 Comments

  1. Never buy your hardware wallet from a third party retailer. He didn’t buy it from ledger so it was probably compromised before he even opened his package and made a single transfer. I know the police say there are no signs of it being tampered with but frankly I’m not sure the local police are qualified to make that claim.

  2. >“The device is kind of a USB drive that you plug into your system. It doesn’t work by itself, we had to download these extensions into the browser and hook it up to the [crypto] exchange,” he said.

    Ehhhmmm. Yeah, right. /S

    The moral of the story: **Never download and unreflectively use any shady browser extensions with your hardware wallet!**

    And also **never forget to verify the pgp-signatures of the software you use, which at best is even open source, available on github and reproducible.**

    >”IT expert”

    Yeah, yeah. Right…

  3. Old news
    https://np.reddit.com/r/BitcoinAUS/comments/t9gpcd/are_these_new_stories_intentional_coordinated_fud/

    These stories always leave out the key details, provoking unfounded guesses such as those in this thread. The details which are provided fit the profile of many “theft” reports seen here. The gambler lost his coins and invented a theft claim to avoid admitting his weakness and failure to his family

  4. All that happened is he told his kids he had bitcoin in that cupboard, his kids then told their friends, one of his kids friends then opened the cupboard and took a picture of the seed and proceeded to steal the funds probably with help of another older sibling or father. Or he could have told other family members he had bitcoin and a nephew or cousin or brother-in-law stole it who the fuck knows.

    Would you keep $100k in cash in a cupboard and expect it to never be stolen. No, this was simply very bad seed management and it sounds like he had no idea the seed alone could be all that was needed to steal the funds, he probably thought the seed could only be used with the device which was pin protected.

    Its just stupid to store a recovery seed that way and then be surprised when its compromised.

    The really sad part is whoever stole it is someone he has let into his own home and probably knows very well.

    Or plot twist, he regretted telling his own family he bought bitcoin and when its worth $1million he no longer wants to be married to a wife he hates, so hes planning a divorce but doesn’t want to give her half of his bitcoin so he moved it to another wallet he secretly controls and is now pretending it was stolen before he files for divorce. Damn.

  5. Please upvote, as this is a big lessons learned. People need to know what not to do in order to keep their wallet safe, and this article highlights them all.
    3rd party purchase, fridge password, software downloading.

  6. Ledger should tell people before they use the device for the first time to wipe it in order to generate a new key. Never use the default key when you first plug the device in.

  7. “I have started to feel I was better off to have this in [a crypto] exchange than to have it [in] Ledger Nano S.”

    This is important and may reflect the reality of what could happen in the future. Most bitcoin could end up stored exchanges or held by third parties.

    Outside the bitcoin community here a considerable amount of ORDINARY people may be terrified of looking after their bitcoin themselves and would be happy to even pay someone else to look after it for them. Same for some businesses.

    Seed recovery phrases, multi sig are not practical for everyone who are not experts or choose not to be experts on self custody storage under current technologies.

What do you think?

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