Well, this is one of the reasons privacy/anonymity is very important for a good currency system. If you intentionally or unintentionally expose very valuable things that shouldn't be exposed to anyone you don't trust, you are equally exposing yourself to such attacks. I get a bit worried when people boldly say that a cryptocurrency is not very anonymous. It should be very anonymous, and the network should still be able to track(and possibly de-anonymize) those who hide under the anonymity to commit serious crimes.
*Kyc should be very safe, privacy-friendly and anonymity friendly. It's important that those who handle such data for others are held accountable, or they shouldn't handle kyc data atall. Better to use identity system that's very decentralized and privacy-friendly.
* the splitting of funds/keys into multiple parts for safe storage and usage is also important.
Topic: Bitcoin Physical Attacks getting more serious - page 2. (Read 249 times)
I agree, just have a discussion with some of my bitcoin enthusiast friends and this is what we don't want to happen to us, The $5 Wrench Attack.
In 2018, we decided to print T-shirts with bitcoin (BTC) logo and try to go to public places and raise awareness. However, this 2020-2021, we think that this is a bad idea as you don't know, criminals are always around the corner and you could be their target, specially wearing a shirts screaming that you are a bitcoiner, not a good idea anymore.
In 2018, we decided to print T-shirts with bitcoin (BTC) logo and try to go to public places and raise awareness. However, this 2020-2021, we think that this is a bad idea as you don't know, criminals are always around the corner and you could be their target, specially wearing a shirts screaming that you are a bitcoiner, not a good idea anymore.
- Never talk in public how much Bitcoins you own, or maybe don't even say that you even own any Bitcoin.
To be fair, those people that talk about their bitcoin and how much they own especially in a condescending manner deserves to have their bitcoin stolen, braggarts have the loosest lips so I don't mind them losing what they have.- Try not to reveal your private information with various KYC procedures, or for ordering any crypto related stuff like hardware wallets.
This is a no brainer thing to do, it is your private info, keep it private as it is. It is enough that your government and those that need your info has yours.- Don't keep all your Bitcoins in one wallet address and use multiple decoy wallets with small amount of coins.
I get it in a way but my question is why do we need to keep small amount of coins on it though?- Use better security for your seed backups.
This won't matter if the person is a tattler and careless with their devices because when opportunity strikes, the attacks will happen no matter what.
I think we just need to practice it the normal way. Now the Gold exists since many years and almost everyone owns gold. We see many many cases of gold snatchers everyday but it does not mean we will stop using the gold.
Bitcoin is an asset now, with tremendous value. So it's but obvious technical thieves will now shift to the trends where they are stealing your private keys and putting us in situation to share the bitcoin wallet information.
However,
I believe that bitcoin holding is way lot more secure and anonymous as compared to asset like gold or diamond jewellery.
The risk is reduced due to this fact. So yes, as long as we don't publicly speak about it or about our holding then no one will ever know about it.
Bitcoin is an asset now, with tremendous value. So it's but obvious technical thieves will now shift to the trends where they are stealing your private keys and putting us in situation to share the bitcoin wallet information.
However,
I believe that bitcoin holding is way lot more secure and anonymous as compared to asset like gold or diamond jewellery.
The risk is reduced due to this fact. So yes, as long as we don't publicly speak about it or about our holding then no one will ever know about it.
List of known attacks against people who own Bitcoin and crypto assets are getting bigger every day, as we can see in Jameson Lopp github page.
Who knows how many similar unknown attacks are happening all the time but they never got published for various reasons, maybe victims are scared, they don't want publicity and they just never report the crime.
It would be a good idea to go through this previous cases and learn from their examples how to avoid getting attacked for owning Bitcoin.
Only this years there was four known attack on people, two of them happened in Hong Kong, and other two happened in Europe, one in Poland and other one in Sweden.
Depending on your location in the world someone could attack you for $100 or $1M worth Bitcoin, just like people got attacked for fiat currencies all the time and with rise of Bitcoin popularity this attacks will probably increase.
Famous people who own Bitcoin are at much higher risk to become victims of this attacks so they care much more about their security and they use multisig, multiple wallets, different locations for backups so that even them alone can't recover all their bitcoins even with gun pointed in their head.
What can regular people do to reduce this risk?
- Never talk in public how much Bitcoins you own, or maybe don't even say that you even own any Bitcoin.
- Try not to reveal your private information with various KYC procedures, or for ordering any crypto related stuff like hardware wallets.
- Don't keep all your Bitcoins in one wallet address and use multiple decoy wallets with small amount of coins.
- Use better security for your seed backups.
Do you think it is important to keep somehow private the fact that you own Bitcoin and crypto or you should talk everyone about it?
Who knows how many similar unknown attacks are happening all the time but they never got published for various reasons, maybe victims are scared, they don't want publicity and they just never report the crime.
It would be a good idea to go through this previous cases and learn from their examples how to avoid getting attacked for owning Bitcoin.
Only this years there was four known attack on people, two of them happened in Hong Kong, and other two happened in Europe, one in Poland and other one in Sweden.
Depending on your location in the world someone could attack you for $100 or $1M worth Bitcoin, just like people got attacked for fiat currencies all the time and with rise of Bitcoin popularity this attacks will probably increase.
Famous people who own Bitcoin are at much higher risk to become victims of this attacks so they care much more about their security and they use multisig, multiple wallets, different locations for backups so that even them alone can't recover all their bitcoins even with gun pointed in their head.
What can regular people do to reduce this risk?
- Never talk in public how much Bitcoins you own, or maybe don't even say that you even own any Bitcoin.
- Try not to reveal your private information with various KYC procedures, or for ordering any crypto related stuff like hardware wallets.
- Don't keep all your Bitcoins in one wallet address and use multiple decoy wallets with small amount of coins.
- Use better security for your seed backups.
Do you think it is important to keep somehow private the fact that you own Bitcoin and crypto or you should talk everyone about it?
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