Founder of Exchange "Loses" Private Keys

[williamz902 696]

According to a recent news report, a founder and CEO of a Zimbabwean exchange has lost the keys to the private wallet which contained 33 BTC worth of user funds. You can read more about the story here: https://thenextweb.com/hardfork/2019/11/01/ceo-loses-private-key-crryptocurrency-exchange-wallet/

[Thekingcallme 1975]

He must look for the key well and remember all the places he went that day and because this amount is not insignificant, especially since the money is not his own

[Zzoro6110 19]

This is one of the disadvantages of the wallet that provides a key with the loss of the key will not be able to enter and lose everything and even who will find the key to know the login information to be able to use

[spyaquino 907]

It is certainly an attitude at the least suspicious, 33 BTC is not any value to arrive and simply say: guys I lost the key to the wallets and your funds are lost! It sounds like a joker, because at least a lack of professionalism or responsibility.

[bentayebsalah 2280]

What a bad luck this person has, how to lose a private key in a wallet with a good amount of bitcoin
He had to make backup copies

[Akbor 1042]

It is not a good news. how a founder can loss the private key. as he is the owner of the exchange he must have two back ups for the exchange private key. the owner of the asset is the members of the exchange .they may loss their asset if the key cant be recovered . but it is unbelievable  to me. but if it happened then the owner should find out the key.

[Anonylz 80]

That's not a good news to the users of that exchange, how can that happen if i may ask? i mean shouldn't things like private key be kept in a very secured place where not everyone can have access to! how can he be so careless not to secure the keys properly, this can lead to great loss if he urgent action is not taken, see why it is not advisable to live funds in exchange.

[PiroSense 2681]

On 11/8/2019 at 12:40 AM, williamz902 said:

According to a recent news report, a founder and CEO of a Zimbabwean exchange has lost the keys to the private wallet which contained 33 BTC worth of user funds. You can read more about the story here: https://thenextweb.com/hardfork/2019/11/01/ceo-loses-private-key-crryptocurrency-exchange-wallet/

Looks real suspicious, and an attempt to get away with people trying to withdraw their funds. However, the fact that his identity is known, could potentially have some hope for recovery for the affected users.

 

If his purpose is to scam, then chances are he still has the private key. Authorities might get a hold of him and try to search his files. Another thing to note is any transaction he would make using that address would be broadcasted to the blockchain, so a transfer of funds would bust his cover. Transparency could be utilized in these times.

[khan22 3478]

This is not a good news because now the investors will loss their all money and now they are not cliam to the exchnage owner. Like my friends lost their all investment in the cryptopia exchange. They buy so many different coins and now they are lost everything in cryptopia exchange.

[Moon 88]

Crazy story, so much crazy and shady stuff happening around crypto exchanges all the time, very interesting stuff to read about.

[scorpiali 5626]

First time to know that there is an exchange in Zimbabwe and lost her private key with 33 Bitcoin a lot of freaking news in one news I can't bielve this rumer 

[Keith700 1885]

On 11/7/2019 at 12:40 PM, williamz902 said:

According to a recent news report, a founder and CEO of a Zimbabwean exchange has lost the keys to the private wallet which contained 33 BTC worth of user funds. You can read more about the story here: https://thenextweb.com/hardfork/2019/11/01/ceo-loses-private-key-crryptocurrency-exchange-wallet/

I really believe that this is very ironic, losing the private keys of your exchange, it compromises you and much, it is an extremely low level of seriousness, I think that this person should be investigated by law, a CEO of an exchange must certify the security of user funds and where appropriate the ability to replenish them as well.

[Sahbana 212]

The incident was a disaster for the founders and investors. The founder of the exchange was so careless in storing the private key that he lost it. I hope the founder is responsible for investor funds.

[soupster 239]

i feel bad for the users of that exchange. The exchange must at least pay a compensation for them and should be trialed for having such a poor exchange security system. 

[Sumayya 493]

On 11/7/2019 at 11:55 PM, Zzoro6110 said:

This is one of the disadvantages of the wallet that provides a key with the loss of the key will not be able to enter and lose everything and even who will find the key to know the login information to be able to use

Each wallet has a key and the key owner is the one sole responsible for the key protection, I don't believe with what happened, how will the key get lost

[yifnt 666]

This is a fatal accident and very sad, as a CEO he should understand and understand how to protect private keys that contain lots of money. It's a pity but this is a trial for him

[Afrizal rahman 2636]

That is we must tighten our personal data. many scammers are eager to take what we have. 33 BTC is very much, it makes us sad if we lose it all. message me take good care of your personal data.

[febriyana 934]

He as CEO must aware about cryptocurrency, because private key is really easy going nowhere if not store in safe place, also i think that is like impossible lost the keys because they have fund from investor where need atleast double backup for security.

I think that is only reason him and company scamming people then running away. Because now Zimbabwe government also banned Bitcoin, so i think more hard for investor get back their fund.

[Fahad1345 17]

I'm new to this forum. So I have no idea about that. But I would like to know about this.

[Sohel Rana 406]

This is not good news for our crypto community. 

Private key is most important for who store any crypto any wallet.

Some people lost her private key for security issue. 

I think all Exchange secure his private key in many ways.         

Edited December 10, 2019 by Sohel Rana

[Sohel Rana Sazzad 453]

It's a pity that private keys are lost because anyone can open a private key in their account and transfer valuable assets to the account.

[Jokeer 648]

This quite sad. The private key is the most important thing which through we can recover or access our account so we should be careful about it if it loses then there is no way to access which happens that persons.

[Sagor 500]

This not fair. he should find out the private key first . i think an exchange owner has back up key for recovering the btc.

[Yanadia 1517]

In my opinion humanerror is normal but this is very suspicious exchanged is not a small company This case is like a scammer who tries to defend himself in a strange way really suspicious

[jmigdlc99 360]

I truly despise irresponsible people who loose keys just like this, especially when lots of people depend and count on you. The amount of 33 BTC is no small amount and it is purely irresponsible for the CEO to simply loose it just like that. He should be held accountable and be asked to pay for it.