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Topic: Ukraine - man arrested for stealing bitcoins and altcoins - page 2. (Read 781 times)

copper member
Activity: 140
Merit: 3
This is a great case for 2fa because scammers can be internal so all they need to do is reset your password and they can empty your account
legendary
Activity: 3080
Merit: 1500
Bitcoin exists on the Internet, and there is no central bank to help you keep accounts. At the core, Bitcoin is based on cryptography. You have to rely on your own secret key to get money.

Each person has a unique key string. In fact, it is the only string in the whole world and universe.

Bitcoin networks only recognize "secret keys" and do not recognize people. The system does not have a phone number to retrieve, nor does it bind to an ID card.

So, when bitcoin is stolen, the secret key is actually stolen. After the hacker successfully attacked, the user's secret key was stolen.

Then use the user's password to transfer the user's bitcoin to his pocket.

So the question arises, how can a good secret key be stolen by hackers? Who should take the responsibility for losing the secret key?

First of all, it depends on who keeps the secret key. The custodian has a disadvantageous custody and loses the secret key. Naturally, it is the custodian's responsibility.

In general, the personal computer is attacked by hackers and the secret key is lost, which can only be considered unfortunate. Therefore, we are required to strengthen personal safety awareness.

Have you read through the news and the nature of fraud that happened or you just want to share your knowledge about the cryptograpy without knowing the nature of the fraud?? The nature of fraud being discussed here has no relation with cryptography and can be applied to your bank account as well to siphon out the funds. Please read the thread first!
newbie
Activity: 28
Merit: 1
Bitcoin exists on the Internet, and there is no central bank to help you keep accounts. At the core, Bitcoin is based on cryptography. You have to rely on your own secret key to get money.

Each person has a unique key string. In fact, it is the only string in the whole world and universe.

Bitcoin networks only recognize "secret keys" and do not recognize people. The system does not have a phone number to retrieve, nor does it bind to an ID card.

So, when bitcoin is stolen, the secret key is actually stolen. After the hacker successfully attacked, the user's secret key was stolen.

Then use the user's password to transfer the user's bitcoin to his pocket.

So the question arises, how can a good secret key be stolen by hackers? Who should take the responsibility for losing the secret key?

First of all, it depends on who keeps the secret key. The custodian has a disadvantageous custody and loses the secret key. Naturally, it is the custodian's responsibility.

In general, the personal computer is attacked by hackers and the secret key is lost, which can only be considered unfortunate. Therefore, we are required to strengthen personal safety awareness.
legendary
Activity: 2016
Merit: 1107
this guy spent all of the money playing rigged ukrainian online casinos
I have no pity for him, he must be retarded
I wonder how in hell this ineffective cyberpolice managed to bust him, must have recieved a signal from their british colleagues
one more lesson: do not store your coins at an exchange
always transer them back to a cold storage after you finished trading

jr. member
Activity: 205
Merit: 1
Source (in Ukrainian): http://mvs.gov.ua/ua/news/18175_Kiberpoliciya_vikrila_cholovika_u_vikradenni_elektronnih_koshtiv_z_kriptogamanciv.htm

My short summary:

The suspect worked in some unnamed crypto exchange based in Britain as tech support worker. He was targeting accounts of inactive users without 2FA installed, he was changing or adding recovery emails to those accounts, which allowed him to reset passwords and steal all user balance. The police estimates that he stole 720,000 UAH this way (~26,000 USD). The suspect was spending stolen money on gambling.

This should be yet another reminder to never store coins online for long term, and always use strong 2FA on your account and your email.

Great evidence to understand that our on line crypto storages are no longer safe and this should be considered as significant because majority of people don't use hardware wallets and most tends to store there cryptocurrencies in on line sites or in exchanges which is know to be very common but these exchanges often gets hacked by hackers so at the end holders loose there both money and time
legendary
Activity: 3038
Merit: 2162
I have to say the following:

When someone goes to work somewhere where they will be responsible for other people's data and will be responsible for the safety of other people, that person must be someone honest and very professional. The company must supervise and audit its accounts and its workers so that it is seen that everything is well. I know people should also be careful, but let's give an example:

Imagine that someone does day trade in some exchange, the price does not choose time to rise or time to fall, so people become obligated and leave their coins in the exchanges. It is the duty of the exchange to protect the currencies of its customers, as well as the duty of a bank to protect people's money. If an exchange does not have the competence to guarantee the security of the people's currencies, then those exchanges must tell their customers that their clients must withdraw their funds and the exchange must close its operations

Not only they need to supervise, they also should design their system to be more robust against inside jobs. Like, does a tech support really need the ability to change someone's reset email? I can imagine hackers impersonating users to trick even honest tech support workers into giving them access.
member
Activity: 616
Merit: 30
Stealing money for hes stupid vices,this man should be firing squad lol

But this is the best example that people here in crypto must learn the importance of 2fa and we must be aware of the possibilities of happening this same stealing from us

Thats why i never did put all my assets in crypto with single safety instead I scattered them all from different apps
sr. member
Activity: 840
Merit: 266
Why would anyone leave his exchange account with a balance on it without setting up 2FA that is beyond my thinking it is just flat dumb. By the way, I believe that all the exchanges so-called hacks are an inside job like this example we are seeing here nothing to be said can convince me anything else.
legendary
Activity: 2814
Merit: 1192
As it was silly for him to spend that kind of money on gambling. If I stole that much, I'd spend it on something useful. But either way, it's a good thing he got caught.

It doesn't really matter since he was caught. He's most likely going to get his properties seized and auctioned off to give back what he stole from his victims. I can understand his way of thinking because an addict doesn't predict the consequences he just acts. He needed to feed his gambling addiction so he chose to steal and now he's going to end up in jail. A tragedy if you think about it.
legendary
Activity: 3080
Merit: 1353
This just proves that hackers aren't always from the outside and some are working on the inside--mostly within a company's ranks. This also proves the point that no one should ever, ever leave huge balances on exchanges even with 2FA as some people from the inside can still alter some information and possibly withdraw your balance. Good thing they know that something's up and nabbed the criminal before he can even do things on a larger scale. Exchanges should also screen their employees very thoroughly and do random inspections during working hours to see whether they are doing something nefarious or accessing things they aren't allowed to.

That's the scary part, people behind the exchanges should be the one helping us protecting our account, but sadly this one bad actor take advantage of the situation and chooses to be on the other side and be the bad guy. I guess we can't never stress enough the importance of 2FA and the funds you leave on a exchange, also it's a hassle to move funds around and cost you a few sats, but this precautions will really save you ass in cases like this. I used to work as Billing Operations Support, with access to lots of personal data but never in my mind did it crossed to steal for my own gain.
full member
Activity: 1638
Merit: 122
As it was silly for him to spend that kind of money on gambling. If I stole that much, I'd spend it on something useful. But either way, it's a good thing he got caught.

what do you expect from a criminal ? do good things like donating to charities and orphanage  ? no they wont do those things because those things can kill thier image  . stolen money will always be used for bad activities such as gambling ,  buying drugs and alcohol , paying for hookers , and other's alike  ... its not a good thing either if he already got caught because the money cant be recovered anymore  .
Pab
legendary
Activity: 1862
Merit: 1012
Looks like gambling addiction cause his criminal activity
Congratulation to UK Police to take that seriously
I am curious did he spent those money on bitcoin casinos
I agree it is bad idea to store coins on exchanges
We had last from  stories from Cryptopia ans Quadriga
 Quite big cmentarny of exchenges has been created  during last ten years

legendary
Activity: 3262
Merit: 1130
Leading Crypto Sports Betting & Casino Platform
I have to say the following:

When someone goes to work somewhere where they will be responsible for other people's data and will be responsible for the safety of other people, that person must be someone honest and very professional. The company must supervise and audit its accounts and its workers so that it is seen that everything is well. I know people should also be careful, but let's give an example:

Imagine that someone does day trade in some exchange, the price does not choose time to rise or time to fall, so people become obligated and leave their coins in the exchanges. It is the duty of the exchange to protect the currencies of its customers, as well as the duty of a bank to protect people's money. If an exchange does not have the competence to guarantee the security of the people's currencies, then those exchanges must tell their customers that their clients must withdraw their funds and the exchange must close its operations
jr. member
Activity: 490
Merit: 7
this is a warning for us to always use the 2FA security in e-mail or others. thank you for the information, but we should not be silent with one security because from day to day the hackers began to look for loopholes to break into. at least there must be several other safeguards.
newbie
Activity: 21
Merit: 0
Ohh! He just ruined his career, I guess he spent the stolen money for trading or smth like this. So stupid.
member
Activity: 532
Merit: 15
right, from this practical example, people can learn the importance of 2FA and the cons of keeping all the crypto on online wallet.
member
Activity: 572
Merit: 10
As it was silly for him to spend that kind of money on gambling. If I stole that much, I'd spend it on something useful. But either way, it's a good thing he got caught.
member
Activity: 689
Merit: 14
World's First Crowd Owned Cryptocurrency Exchange
I think that there are already a lot of similar stories that show us that you do not need to keep your money on the stock exchange. It's good that you published it here. I think it may be useful for many who are not yet aware of the security measures.
sr. member
Activity: 1193
Merit: 251
As we can see, in the near future, there is a lot of news related to the cryptocurrency theft.This is a very serious problem.And really, you can protect your assets as much as possible using 2Fa.I think this is the best option.I suppose I have never heard that someone was deceived using 2Fa.
member
Activity: 420
Merit: 20
simply getting the job done
It is good that the crime was revealed and the criminal was detained. I hope that soon police officers from different countries will be able to come up with a system for tracking stolen cryptocurrencies and the number of thefts will be much less. This will increase the attractiveness of cryptocurrency and will be able to stop the impunity of thieves. As far as I know, many countries are already trying to create systems for monitoring and tracking stolen funds. Of course, in parallel, it is necessary to improve the security of the crypto wallet and the security of the exchanges.
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