• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
Crypto News
Advertisement
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Crypto News
No Result
View All Result

Crypto User Loses Over $100K in Bitcoin While Transferring His Wallet

by
January 9, 2021
in Uncategorized
0
Crypto User Loses Over $100K in Bitcoin While Transferring His Wallet
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Crypto User Loses Over $100K in Bitcoin While Transferring His Wallet

A bitcoin user has shared his story of how he lost more than $100,000 in BTC during a wallet transfer. The bitcoiner attempted to transfer a wallet to a new computer without making sure that he had access to the encryption passwords tied to his private key storage.

Related articles

Taraxa Wants to Put Every Informal Transaction on the Record, Unveils Details About the Upcoming TGE

March 6, 2021

John McAfee Indicted by DOJ Over Alleged Cryptocurrency Fraud Charges

March 6, 2021

Password Manager Didn’t Store Passphrases Needed to Access His Private Keys

According to the testimony published on Reddit, the crypto user known as “Onnar” claimed to have lost access to 2.6 BTC from the transfer of his wallet to a new computer acquired during the Christmas holidays.

He wiped the hard disk of his old computer, which he wanted to use only for work-related matters. However, he did not check the password manager he used to store the passphrases needed to access the wallet’s private keys.

Onnar detailed that he had already encrypted backups of his private keys on two USB drives stored in separate locations. He then plugged one of the USB drives into the computer to verify that everything was properly stored, which he later realized that it was not enough.

Could a Hardware Wallet Have Prevented This Error?

Although the crypto user admitted that a Ledger device would be more convenient than the way he was handling his bitcoins, he did not believe at the time that his method was less safe. Onnar continued:

Let’s start with BTC. To import the private key, I just have to decrypt the file from one of the two USB drives and, well… just import it … The terminal now asks for … the password. No problem, I have all my passwords in my password manager, which I trust 100%. I go to my password manager to grab it and… It’s not there. No mention of a BTC password anywhere to be found. I spend the next 30 mins rechecking and rechecking, but it’s not there.

The bitcoiner made a mea culpa of the incident, admitting that he did not realize that passwords were not auto-saved in the manager.

He wrapped up by taking full responsibility for missing bitcoins worth over $100,000, according to the latest data by markets.Bitcoin.com. He concluded:

It’s 100% my fault anyway.

What are your thoughts on this incident? Let us know in the comments section below.

Share76Tweet47

Related Posts

Taraxa Wants to Put Every Informal Transaction on the Record, Unveils Details About the Upcoming TGE

by
March 6, 2021
0

PRESS RELEASE. The Taraxa Foundation, a non-profit body supervising research and development of the Taraxa project, announced a public sale...

John McAfee Indicted by DOJ Over Alleged Cryptocurrency Fraud Charges

by
March 6, 2021
0

Tech entrepreneur and former anti-virus tycoon John McAfee has been indicted by the U.S. Department of Justice (DoJ) on money...

Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

by
March 6, 2021
0

Bitcoin and Ethereum are down from their recent 2021 highs, but compared to their traditional market counterparts, have shown more...

3 million active users help lift Audius (AUDIO) to a new all-time high

by
March 6, 2021
0

Audius price hit a new all-time high after the decentralized music streaming platform surpassed 3 million active users and developers...

$1 Million per BTC in 10 Years: ‘In Terms of Dollars Bitcoin Is Going to Infinity,’ Says Kraken CEO

by
March 5, 2021
0

While bitcoin prices have been coasting along between $46k to $48k during the last three days a number of proponents...

Load More
  • Trending
  • Comments
  • Latest
Grayscale CEO outlines 6 themes that will shape crypto market in 2021

Grayscale CEO outlines 6 themes that will shape crypto market in 2021

January 20, 2021
GrayScale Reopens ETHE Buying

GrayScale Reopens ETHE Buying

February 1, 2021
Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

February 3, 2021
Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

February 6, 2021

Taraxa Wants to Put Every Informal Transaction on the Record, Unveils Details About the Upcoming TGE

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0

Taraxa Wants to Put Every Informal Transaction on the Record, Unveils Details About the Upcoming TGE

March 6, 2021

John McAfee Indicted by DOJ Over Alleged Cryptocurrency Fraud Charges

March 6, 2021
Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

March 6, 2021

3 million active users help lift Audius (AUDIO) to a new all-time high

March 6, 2021
Crypto News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Aave (AAVE)
  • Abra
  • altcoin
  • Altcoin News
  • altcoins
  • Altseason
  • Basic Attention Token (BAT)
  • Binance
  • Binance (BNB) News
  • Binance Coin (BNB)
  • Binance Ecosystem
  • Binance Smart Chain
  • Binance Smart Chain (BSC)
  • bitcoin
  • Bitcoin
  • Bitcoin (BTC) Adoption
  • Bitcoin (BTC) General News
  • Bitcoin (BTC) News
  • Bitcoin (BTC) Predictions
  • Bitcoin Cash (BCH)
  • Bitcoin Cash (BCH) General News
  • Bitcoin dominance
  • Bitcoin Futures
  • Bitcoin Miners
  • bitcoin network
  • Bitcoin Options
  • Bitcoin price
  • Bitcoin SV (BSV)
  • Bitfinex
  • BitGo
  • Bitstamp
  • Bittrex
  • Blockchain
  • Blockchain News
  • bloomberg
  • Brad Garlinghouse
  • Business
  • Cameron Winklevoss
  • Cardano (ADA)
  • Cardano Upgrade
  • ChainLink
  • ChainLink (LINK)
  • Chainlink (LINK) News
  • Chainlink Community
  • Chainlink Price Prediction
  • Changpeng Zhao
  • charlie lee
  • CME Ethereum Futures
  • CME Group
  • coinbase
  • Coinmarketcap
  • Consensys
  • Craig Wright
  • Crypto Exchanges
  • cryptocurrency
  • Dash (DASH)
  • DeFi
  • DeFi Pulse
  • Deribit
  • Dogecoin (DOGE)
  • Electric Coin Company
  • Elon Musk
  • ETH 2.0
  • ETH2.0
  • Ethereum
  • Ethereum (ETH)
  • Ethereum (ETH) News
  • Ethereum 2.0
  • Ethereum Classic (ETC)
  • Ethereum Fees
  • Ethereum Futures
  • Ethereum Miners
  • Ethereum Network
  • ethereum price
  • Ethereum price analysis
  • Ethereum Staking
  • Ethereum Upgrade
  • Ethereum Upgrades
  • Flare Networks
  • Flare Networks Snapshot
  • Gemini
  • google
  • Grayscale
  • Grayscale Bitcoin Trust (GBTC)
  • Grayscale Ethereum Trust (ETHE)
  • Grayscale Investments
  • Guide
  • Guides
  • Huobi
  • Institutional Investors
  • jack dorsey
  • Jay Z
  • justin sun
  • JustSwap
  • LINK Marines
  • Litecoin
  • Litecoin (LTC)
  • Litecoin (LTC) News
  • Litecoin Development
  • litecoin foundation
  • Litecoin MimbleWimble
  • Market
  • Michael Saylor
  • MicroStrategy
  • MimbleWimble
  • Mining
  • Monero (XMR)
  • News
  • NFT
  • NFTs
  • Non-Fungible Tokens
  • OKECoin
  • Other
  • Pantera Capital
  • Polkadot (DOT)
  • Polkadot Price Analysis
  • Poloniex
  • Prices
  • Regulation
  • ripple
  • Ripple
  • Scams and Hacks
  • sec
  • Securities and Exchange Commission
  • Spark Token (FLR)
  • Spark Token Airdrop
  • Spark Tokens (FLR)
  • Square
  • SushiSwap (SUSHI)
  • Tesla
  • Tether (USDT)
  • tether bitfinex lawsuit
  • Tron (TRX)
  • TRON (TRX) News
  • Tron Foundation
  • Twitter
  • Tyler Winklevoss
  • Uniswap
  • UniSwap (UNI)
  • Wallets and Exchanges
  • WallStreetBets
  • Weiss Ratings
  • Wrapped Bitcoin (WBTC)
  • XRP
  • XRP News
  • XRP Price Prediction
  • Yearn Finance (YFI)
  • Zcash (ZEC)
  • ZCash Halving
  • Zeus Capital
  • Zilliqa (ZIL)
  • Zilliqa (ZIL) News
  • Zilliqa Staking

Tags

Altcoin Bitcoin drops Bitcoin Wallet Cointelegraph Cryptocurrency ICO Investment Lending Market Stories Mining Bitcoin

Newsletter

[mc4wp_form]

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2018 JNews by Jegtheme.