This is one concern that we have nowadays. As the popularity of Bitcoin goes higher, so as the crypto robbery incidents. Right now, the most popular robbery is through phishing websites where they forcefully ask them to provide their seed phrase or private key.
The $5 wrench scenario is the scariest because they force you to give them your credentials rather than stealing your device without even knowing the password, phrases and keys you have which will be just a waste to them.
Topic: Bitcoin Robbery (Read 466 times)
Get a Second phone. Most people only owns one smartphone at a time hence there's a high chance the robber wouldn't be able to think you have another one. Worst case scenario is if they thoroughly check your bag (get a bag with secret pockets!) although IMO most robbers are in hurry and so I don't think this is something highly likely.
If you can, leave your main phone at your house. That would provide better security.
If you can, leave your main phone at your house. That would provide better security.
Nice idea I never thought about this,,, in fact a better idea might be to have a second phone but also make sure you have another BTC wallet there maybe with a small amount,,, or a fake account on a crypto casino you do not use at all. Just have a balance there from faucet or whatever and so if you are ever robbed you can show that yes you have BTC but only on casino and you gamble most of it (or show the fake wallet with small balance).
Security is also man basic needs on earth because it’s very devastating and most times deadly when someone steals our valuables. The reason I suggest for a confirmation code for every transaction is simply because bitcoin and most crypto are decentralized making it almost impossible to recover lost coins. There should be a confirmation code sent to our email or phone number during transaction in crypto wallets to originally prove the transaction is being performed by the real owner of the wallet, once the confirmation code is received via gmail or any other means and has been copied in the appropriate place. This action will automatically confirm the transaction in the wallet.
I don't know if a feature like that exists, though in Coinbase, if you make a transaction/payment, they have a feature that requires your biometrics/pin before finalizing the transaction and sending it through Blockchain, but if they stole your phone along with your credentials, there's really no possible way on controlling the transaction, you can either try to retrieve your account but I am quite sure that your bitcoins will be gone by the time you retrieved it, also, you can't track the transaction and the receiver, of course, we have the power of being anonmyous, and the power of having as many addresses as we want.
I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.
I feel bad for those who worked hard for their bitcoins and for your friends, those robbers probably gathered info on people who holds BTC around your area, the downside of being socially open and open about being a crypto enthusiast, sometimes it's better to be in a lowkey state, some people will really take advantage, well, if that's the case on why he got robbed, and if it's not, then that's just really unfortunate.
Get a Second phone. Most people only owns one smartphone at a time hence there's a high chance the robber wouldn't be able to think you have another one. Worst case scenario is if they thoroughly check your bag (get a bag with secret pockets!) although IMO most robbers are in hurry and so I don't think this is something highly likely.
If you can, leave your main phone at your house. That would provide better security.
If you can, leave your main phone at your house. That would provide better security.
Man, robber would most definitely kill you If you can't provide any, especially If they knew you're into digital and cryptocurrency.
So, I'd like to add something on your idea. Just a put a small amount of asset in that phone you're carrying everyday just to make the robber believe that's the only asset left after a devastating trade or something like that. A made-up stories might spare your life and of course a little asset so he won't get angry for not getting anything from you
of coins or crypto into your online wallet or something like that.
Its actually a good move or avoidance of possible being robbed completely but you cant really be still sure that you wouldn't be killed on such situation because not all criminals would really
just simply leave their victims even if they haven't get something from it.
The key here for your security is never to boast off or make yourself that bit obvious that you do deal up with crypto.
Its good to not brag that you owned bitcoin or cryptocurrency so that you're safe.. I mean its good to live in a simple life wherein no one knows what's your work and where did you get your income so that no one will put interest in your life.. Lol there's a bunch of fraud people even in public places so much better to keep quiet and avoid losing money and also prevent any suspicious activity especially around the internet because that's the main reason as well why people lost their bitcoin because of some hacking issues.. So be aware and alway keep your mouth zipped.
It's a sad fact that nowadays people are more on bragging their personal income ( not to brag but to inspire as they said) when in fact, they should keep it private. I think that's mostly the reasons right now why some are losing their bitcoins either due to hacking or they are just too confident that it will always be safe even without precautionary measures taken.For i know, as long as you keep the security of your account without sharing your password to anyone, or without any intentions to let other people know that you have that huge amount in your wallet, then no one will get interest on you.
Bitcoin can be robbed by hackers who hack your personal information and digital wallets. We hearer many cases that people lost millions through Bitcoin account hack. But there are some policies if you follow these then there are too much low chances that you will be scammed.
Its good to not brag that you owned bitcoin or cryptocurrency so that you're safe.. I mean its good to live in a simple life wherein no one knows what's your work and where did you get your income so that no one will put interest in your life.. Lol there's a bunch of fraud people even in public places so much better to keep quiet and avoid losing money and also prevent any suspicious activity especially around the internet because that's the main reason as well why people lost their bitcoin because of some hacking issues.. So be aware and alway keep your mouth zipped.
And this kind of attacks might increase as obviously the price of bitcoin is going up. So if you are a bagholder, yes you can protect it as much as you want with proper security hygiene. But if you exposed yourself to criminals then physical attacks are inevitable. So the right practice will be not to tell in your social accounts that you have bitcoin or crypto. So it's not hackers are we should avoid, but real life criminals as well.
Security is also man basic needs on earth because it’s very devastating and most times deadly when someone steals our valuables. The reason I suggest for a confirmation code for every transaction is simply because bitcoin and most crypto are decentralized making it almost impossible to recover lost coins. There should be a confirmation code sent to our email or phone number during transaction in crypto wallets to originally prove the transaction is being performed by the real owner of the wallet, once the confirmation code is received via gmail or any other means and has been copied in the appropriate place. This action will automatically confirm the transaction in the wallet.
I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.
I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.
If you link your mobile phone number or email-address to your wallet, you will lose absolutely all privacy and anonymity. I think that those who keep their private keys in safe places and don't tell it to anybody and use mostly cold wallet, will not face robbery, as usually robberies happen because of people negligence, so just be more careful and suspecting.
Get a Second phone. Most people only owns one smartphone at a time hence there's a high chance the robber wouldn't be able to think you have another one. Worst case scenario is if they thoroughly check your bag (get a bag with secret pockets!) although IMO most robbers are in hurry and so I don't think this is something highly likely.
If you can, leave your main phone at your house. That would provide better security.
If you can, leave your main phone at your house. That would provide better security.
Man, robber would most definitely kill you If you can't provide any, especially If they knew you're into digital and cryptocurrency.
So, I'd like to add something on your idea. Just a put a small amount of asset in that phone you're carrying everyday just to make the robber believe that's the only asset left after a devastating trade or something like that. A made-up stories might spare your life and of course a little asset so he won't get angry for not getting anything from you
Although BTC is non tangible, but those who knew that you own btc can be a big problem for you in the future. Always be lowkey when talking about your earnings. Doesn't matter if they feel suspicious but tell them if they are willing to learn. Btc maybe in tangible but you need to take note that you need to protect yourself, privacy is the key to it.
This is the most vicious of any kind of crime right now, there's a physical violence involved. Hopefully there's some sort of solution in this kind of issue because if the crypto community isn't feeling safe then we won't be able to make the best out of the market because we're terrified of this kind of stuff from happening.
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I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.
What i do not understand is that how the robbers are aware that your friend is holding cryptocurrency to hold them at gun point and ask for the blockchain password. Even if you are telling is true you can run away with the money without providing further verification like 2 FA before withdrawing.I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.
These things happen if you are foolish enough to advertise your cryptocurrency investment in social media so that the robbers will target you. Just stop those stupid actions and have some common sense if you think that criminals will target you.
This is the drawback of being open to the social media regarding your crypto involvement.
Some people are really proud of their crypto holdings they will post every thing on their social media.
They will now be the target of these criminals as they know who are easy targets.
Maybe, his friend also know those criminals as they are just living in one area.
For me, there's no need to let the public know that you are into crypto. Just be glad you found it.
And if someone asks your assistance, then, share what you know and educate them.
People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.
People are so much aware but do not expose yourself to a $5 wrench! This is the mistake most people make an end up helpless like your innocent friend. There are many people who have Bitcoin, lots of it, but you can never know because they do not loud it. Your friend was not just a random victim because if you think more, you'll realize that not the average person has a Bitcoin wallet. And out of those that have a wallet, not the average has a robbery-worthy amount. So, IMO, this was targeted. Here is a list of such happenings: https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md. With the most recent on the list being "Crypto Trader’s Murder Blamed On Social Media Bragging". And here's how you can Protect Yourself From $5 Wrench Attacks.
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I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.
What i do not understand is that how the robbers are aware that your friend is holding cryptocurrency to hold them at gun point and ask for the blockchain password. Even if you are telling is true you can run away with the money without providing further verification like 2 FA before withdrawing.I have had reports of people complaining of their lost wallets. some where asked to provide the pass codes of their wallets forcefully at gun point. In my locality now this is the modern age robbery. People are much aware about bitcoin and are using this means to steal from innocent bitcoin enthusiasts. My friend was a victim couple of days ago as she was robbed of her valuables and the robbers went further to ask for her blockchain password which she fearfully provided and immediately her bitcoin was wiped away from her wallet. This is so scary and threatening to bitcoin enthusiasts.
These things happen if you are foolish enough to advertise your cryptocurrency investment in social media so that the robbers will target you. Just stop those stupid actions and have some common sense if you think that criminals will target you.
Most wallet has some sort of second password or "spending password" that you can set. When you are about to send a coin, you will have to use that password (they can still access your coins if they have access to your recovery phrase or your private keys!). And like the other user said, most of the centralized/custodial wallets (worst choice. never store your coins on a custodial wallet) have 2fa enabled where you receive confirmation codes on your phone (the thing you are looking for). But you can still lose your coins if the wallet provider loses their coins from their hot/cold wallet. You just have to be careful how and where you store your coins. Take proper precautions and your coins will be safe.
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I think satoshi knows very well why he had to hide till now and he is not even identified to the public, and yes because bitcoin is money then privacy is mandatory for every user to increase security.
That's right mate, when you have a lot of crypto assets (bitcoin or altcoin) then you have to be quiet and maintain your privacy online or in the real world. A person who has tens of thousands of bitcoin in his wallet today would probably never want to talk to any media because they know there is potential danger to come to them if there are no strict security guards. Honestly I will never tell anyone about the actual amount of assets I have, this will give me some percent protection from unwanted things. While people keep exposing the value of their assets on their facebook and whatsapp stories all the time no matter what they will face in the future. When someone realizes bitcoin is money, then they must have security and protect themselves from the potential for unwanted things to happen, robbery for example. I think satoshi knows very well why he had to hide till now and he is not even identified to the public, and yes because bitcoin is money then privacy is mandatory for every user to increase security.
Physical threats against bitcoin owners have happened before and we've probably heard of them being discussed several times on this forum. This is not a new story even though the time and place of the events are different.
Just like on being rich with fiat on where security would really be a big issue when someone do really notice it out that's why its never been great to have some show-off with your riches.I agree that you should keep quiet that you do hold lots of bitcoin or crypto.When it comes to wallet security then this is something on owners personal responsibility to avoid human error
but if its been brutely asked then you wouldn't really have any choice but to give it on exchange of your safety but not still an assurance that you wouldn't be killed on that situation.
Physical threats against bitcoin owners have happened before and we've probably heard of them being discussed several times on this forum. This is not a new story even though the time and place of the events are different.
There are solutions already answered by several users above so I probably don't have many other options to mention. I just want to talk about why financial privacy is so important to prevent bitcoin robbery and physically threaten users. Yes, many people may not realize that there are people out there who are constantly stalking reckless bitcoin users and have a bad habit of exposing their bitcoin holdings in public or in online media. This can increase the potential for experiencing a robbery so that all bitcoins owned will change hands to the robber. I think satoshi knows very well why he had to hide till now and he is not even identified to the public, and yes because bitcoin is money then privacy is mandatory for every user to increase security.
There are solutions already answered by several users above so I probably don't have many other options to mention. I just want to talk about why financial privacy is so important to prevent bitcoin robbery and physically threaten users. Yes, many people may not realize that there are people out there who are constantly stalking reckless bitcoin users and have a bad habit of exposing their bitcoin holdings in public or in online media. This can increase the potential for experiencing a robbery so that all bitcoins owned will change hands to the robber. I think satoshi knows very well why he had to hide till now and he is not even identified to the public, and yes because bitcoin is money then privacy is mandatory for every user to increase security.
Bitcoin wallet, using a hardware wallet will provide those security measures,
needing a passphrase or series of numbers to access the device, sending a transaction
needs the owner to verify each transaction.
Personal security hasnt changed, we need to be vigilant and try to keep our posessions
secure particularly smartphones as they hold so much information. Broadcasting
ownership of Bitcoin publically IMO is a no-no.
Being able to defend ourselves is important, most thiefs are opportunistic.
The funds needs to be used and secured in best possible manner and hardware wallets are the best possible solutions for them rather than keeping them on hot wallets and centralised exchanges having your private keys and you can loose your funds with blink of an eye.There are possible explanation with so many threads related to it but still people pretend they know nothing about it and was not at fault and then loose funds.Make sure about your funds security as hackers are many ways to find about your personal information.Take security measures. needing a passphrase or series of numbers to access the device, sending a transaction
needs the owner to verify each transaction.
Personal security hasnt changed, we need to be vigilant and try to keep our posessions
secure particularly smartphones as they hold so much information. Broadcasting
ownership of Bitcoin publically IMO is a no-no.
Being able to defend ourselves is important, most thiefs are opportunistic.
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