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Topic: [2017-06-29] Revealing Your Digital Currency Holdings Online Is a Horrible Idea (Read 4996 times)

legendary
Activity: 1918
Merit: 1012
★Nitrogensports.eu★
Too many errors to count here.  Once again we have coins being stored in an online exchange.  Will folks never learn?

Apparently, only after costly mistakes. 7 BTC for this victim is a pretty high price to pay.
Previously, people used to leave bitcoins on exchanges purely for convenience. Now, it is to avoid frequent transaction fees.
legendary
Activity: 2016
Merit: 1107
calling himself trader,stores assets worth over 7 bitcoins online
wonders how the hell he could have been hacked,shows his API key on youtube
sigh,some people are too newb to be allowed to trade
legendary
Activity: 1232
Merit: 1091
Once again we have coins being stored in an online exchange.  Will folks never learn?

As long as people value convenience over security, they will continue to do this. Problem with these people is that they keep them there to [1] save on fees, and [2] they want to have their coins ready to sell. People will only learn that this is a horrible way of storing coins, when things go horribly wrong, and they as result lose their coins. I don't think this will ever change.
hero member
Activity: 761
Merit: 606
Too many errors to count here.  Once again we have coins being stored in an online exchange.  Will folks never learn?
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
newbie
Activity: 16
Merit: 0
Wow, he posted his API key in YouTube videos...
sr. member
Activity: 700
Merit: 250
This week a cryptocurrency trader who traded altcoins and bitcoin on the digital currency exchange Bittrex lost over 7 BTC ($18,000 USD) while recording the entire theft. The trader from New Zealand revealed his testimony and believes he was hacked by malicious bots created to steal digital assets.

A Trader’s Worst Nightmare

 trader named Shayne who calls himself “Crypto is Key” detailed an unusual experience watching his Bittrex account that held eleven BTC drain down to four BTC. The victim explains the Bittrex account was shared with a buddy of his who helped him make decisions and trades. Additionally, he says the account was protected with two-factor authentication and a very long password. However, when he woke up and logged into Bittrex, he noticed his holding were being sold, and his account was missing 7 BTC which was withdrawn to an unknown address.

“Everyone’s worst nightmare concerning trading is losing their wealth to thieves,” explains the Bittrex trader.

   
Quote
     Last night I was in the nightmare, and what’s worse is I had to fight while they tried to take my last four Bitcoin.

Continue reading
- https://news.bitcoin.com/revealing-digital-currency-online-horrible-idea/
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