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Someone just lost 1400 BTC because of phishing during wallet update.

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this isn't happening well with that man , I sure that holding a such amount of money in cold wallet always risky . 1400 BTC is really a huge amount for anyone . we need to update overself from time to time in Crypto market .

sometime due to these type of incidents , newbie didn't enter in Crypto market. 


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Very sad and touching news, Indeed it's a huge amount for that matter.  This is what kept me wondering and leave me in fear about Crypto world.

Why this keep happening from time to time, loosing big amount of Crypto coins to scammers or hackers?

When will this stop happening for God sake?

If this is happening to big investors, traders what of us holding small amounts of Crypto coins.

Because loosing at any means it's not a good thing.

 

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6 hours ago, Guru2050 said:

Very sad and touching news, Indeed it's a huge amount for that matter.  This is what kept me wondering and leave me in fear about Crypto world.

Why this keep happening from time to time, loosing big amount of Crypto coins to scammers or hackers?

When will this stop happening for God sake?

If this is happening to big investors, traders what of us holding small amounts of Crypto coins.

Because loosing at any means it's not a good thing.

 

It happens because we ourself are responsible for security of our private keys, and we aren't alert all the time. We aren't taking the security seriously and we are flawed as humans. We can get phished, or accidentally sent them in a wong address, lose private keys or you name it. And it will not stop any time soon without fundamental change in how cryptos are operated.

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Well iam not sure this news real are any publicity stunt, because I have some doubts against this topic, is it possible anyone should have 1400 bitcoins and can't access his account two years, because it's something suspecies imagine if we have 1 btc in our account, then we daily check our balance but this person not access since two years.

If he want update wallet then he know everything because he knows crypto very well, then how he do mistake and lost 1400 bitcoins its not small amount, I think some possibilities that this person wants maybe he trying to damage that wallets reputation, are want gain publicity are really loss 1400 bitcoins any thing happens. 

Edited by Honny143
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Wow, that is a really sad story, especially for the part of the person who lost that amount of money. 1400 BTC is a really huge amount of money if you are holding that you should use a hardware wallet for security. 

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Losing that much BTC is truly a nightmare.😱

 

The lesson we can take is to be careful when downloading or updating anything, always make sure the source is correct to avoid something like this.👍


 

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This news is very sad, and what a bad thing happened is that the amount of 1400 Bitcoin is very large, and we must learn from this person that storing very large quantities of cryptocurrencies is dangerous and what happened to this person may happen and repeat with anyone else so we must choose our wallets carefully and must We have to store our coins in many places

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Oh My world thats so many of them wow, someone had all those bitcoins wow, thats around 14 Million dollars , Lord have mercy , my they relax and pray to God they get it back, thats a lot man.

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My God, losing 1,400 Bitcoins is really sad news, and it is also an important alert for all cryptocurrency users to take all necessary steps to protect their account in any wallet or crypto platform against hacking, I advise those with large amounts of Bitcoin to buy Ledger wallets they are safer

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On 9/4/2020 at 11:51 AM, Honny143 said:

Well iam not sure this news real are any publicity stunt, because I have some doubts against this topic, is it possible anyone should have 1400 bitcoins and can't access his account two years, because it's something suspecies imagine if we have 1 btc in our account, then we daily check our balance but this person not access since two years.

If he want update wallet then he know everything because he knows crypto very well, then how he do mistake and lost 1400 bitcoins its not small amount, I think some possibilities that this person wants maybe he trying to damage that wallets reputation, are want gain publicity are really loss 1400 bitcoins any thing happens. 

But this was a known bug back in days. It doesn't really damage the wallet's reputation because it's fixed a long time ago and that damage was also done long ago. He could have easily missed the news if he has been using the other wallets and didn't have any use for this one. And when you hodl btc in an offline wallet, you usually don't really need to pay attention on these things.

 

Ihmo this was a stupid mistake, and just proves that you can't underestimate the stupidity of any man. I myself have made many mistakes and lost money by accident. So i can relate.

 

Still... you have an interesting theory.

Edited by rekter

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He did not take any precautions because he stored all the money in one wallet only. I advise everyone to store the money in several wallets so that they do not lose their money at once.

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On 9/14/2020 at 9:47 AM, Omar Ommeish said:

He did not take any precautions because he stored all the money in one wallet only. I advise everyone to store the money in several wallets so that they do not lose their money at once.

In fact this wasn't his only wallet. But i think he mentioned that majority of his coins were (for some reason) in this wallet. Why he didn't choose to keep them in ledger, i don't know. Maybe because it was an older wallet in an old offline laptop and he thought it would be safe as long as he had his private key somewhere too.

 

Turns out that privatekey doesn't really help when your funds get stolen.

Edited by rekter

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Many people are exposed to fraud and theft similar to this method, and this is very bad and for this reason we must store our currencies in different wallets so that we do not lose all our money if we are exposed to a hack

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It is so frustrating when your hard work come to waste. I hope someday all the scammers go to jail, so that no one will be scam, especially to those people who invested so much effort and time just to make an income that much. It is so important to make a preventive measures from scammer like don't engage or deal to any stranger on internet, don't easily trust people on internet and choose the most secured wallet it is okay if it is expensive because it is for your security.

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On 8/30/2020 at 6:30 PM, rekter said:

https://github.com/spesmilo/electrum/issues/5072#issuecomment-683356052

 

User is saying that he haven't accessed the wallet since 2017. Now old Electrum wallets were susceptible to phishing, and new versions should always be loaded trough the original site, not trough the wallet popups suggesting an update.

 

1400 btc is a lot of money, but anyone not storing that much in a cold wallet probably have way more as they weren't doing enough precautions.

That's real bad, seems like no matter how carefully you are, you get caught one way or another, people likes to keep their wallets up to date so scammers have are taking advantage of this. We should know there are always new scamming methods so we should be careful at all times in all ways, knowing the old methods of scammers does not keep us safe, we should outsmart them with their new tricks.

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13 minutes ago, Teminali69 said:

That's real bad, seems like no matter how carefully you are, you get caught one way or another, people likes to keep their wallets up to date so scammers have are taking advantage of this. We should know there are always new scamming methods so we should be careful at all times in all ways, knowing the old methods of scammers does not keep us safe, we should outsmart them with their new tricks.

True, but to be honest, he wasn't being very careful, following news of the industry you have invested in is pretty standard way to to keep yourself safe.

 

Just like you should always follow the news of any altcoin you have invested in, in case of swaps, unlistings (if you are holding in an exchange) or mandatory software updates.

Edited by rekter
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On 9/19/2020 at 3:12 PM, rekter said:

True, but to be honest, he wasn't being very careful, following news of the industry you have invested in is pretty standard way to to keep yourself safe.

 

Just like you should always follow the news of any altcoin you have invested in, in case of swaps, unlistings (if you are holding in an exchange) or mandatory software updates.

I do no disagree on that but let's all be advised that been carefully is not enough we must be extra carefully because most of these scammers are programmers so they can easily manipulate us who knows nothing of programming, some of these scammers are even a team of people who are dedicated to scam people, you see how serious scammers get??!!

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1400 BTC. It's too much . It can change life of a man. What type of news we hear now a days related to crypto. This much amount of asset is loosed and nobody can do anything for it. This is the reason why countries and peoples don't link to crypto world. I think there must be a court who can control the crypto transactions.  But we know it is decentralized. 

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Vow! 1400 BTC is really so much and no doubt to have such BTC is everybody dream. l'm very sad about that bad experience, scammers are really everywhere and this world would give us a lot of opportunity, but there is also bad advantage of this world like scammers. Unfortunately there is not any way to solve this problem, however we should try staying away from them.

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On 8/30/2020 at 9:30 PM, rekter said:

1400 btc is a lot of money, but anyone not storing that much in a cold wallet probably have way more as they weren't doing enough precautions.

Yes definitely 1400 BTC is too much money. And hardware wallets are too secure then how it can be hacked. But as you are saying during update it have been hacked so there is chance of hacking but it us very difficult. However it is sad news for crypto world. 

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27 minutes ago, malik6314193 said:

Yes definitely 1400 BTC is too much money. And hardware wallets are too secure then how it can be hacked. 

This wasn't a hardware wallet though, this was a normal outdated Electrum wallet that should have been updated directly from their website and not from the hijacked popoup.

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Very sad post. I myself once got caught on a phishing site. It was an Ethereum wallet and I lost $ 75. It was very disappointing. And lose 1400 btc. It's hard to imagine what it's like. It is advisable to add links to online wallets to your bookmarks. This reduces the risk of getting phishing links.

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Thats about 1400*11100=15,540,000. This is really a lot of money when we take into consideration that its a huge sum that could even open up the best company on anything thats really bad to the dude.

You can imagine I also lost my laptop with my wallet on it and so is the balances that I had then, its painful today I have  nothing because I cannot tell where it is, and the desktop wallet had no security so someone could have already transferred the amount.

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On 8/30/2020 at 7:30 PM, rekter said:

https://github.com/spesmilo/electrum/issues/5072#issuecomment-683356052

 

User is saying that he haven't accessed the wallet since 2017. Now old Electrum wallets were susceptible to phishing, and new versions should always be loaded trough the original site, not trough the wallet popups suggesting an update.

 

1400 btc is a lot of money, but anyone not storing that much in a cold wallet probably have way more as they weren't doing enough precautions.

Whoever deals with digital money and Bitcoin should be very careful and keep it just like real money. The digital wallet may carry a higher value than the regular wallet, so the investor must take care of his portfolio well, and update it always and not waste its retrieval words.

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I've read about this and I don't know if I should trust Electrum. While there is a tendency by bitcoin people in another forum to always recommend Electrum they all know that a ledger or a trezor is more secure. I'd recommend one of these as you will have better support too.

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