Gotta say that as a big fan of everything card related I really liked the Coldkey and even thought about getting some for myself and as a present for others, but the idea of someone else having an access to bitcoin on it eventually put me off. Anyway, what happened sucks big time and yes, yet another proof that you simply can't trust anyone with your own bitcoin.
Is there any estimate how much yogg stole so far?
Topic: Trust no one in Bitcoin (Coldkey story) - page 2. (Read 429 times)
Taking a quick look at Coldkey, isn't this pretty much something like the Ballet Wallet? Pretty much like trusting a person/manufacturer to generate a paper wallet for you? Yikes.
It is. But the manufacturers pretty much try to sell them like art (imho). There are unloaded and DYI ones which imho they make much more sense, but the loaded ones bear much higher premium, plus the owner will think twice before redeeming the "paper wallet" because it decreases its value more than just with those bitcoins it was holding.
But yes, at the end of the day, they're just nicer paper wallets made by somebody else.
Even more, while 95% of the cases the manufacturers can be trusted (at least until now), the more hands the collectible pass on, the bigger the chance somebody has found a way to unseal it and copy the private key for "future use".
As minerjones said it very good:
Our "hobby" of loaded coins is inherently a bad idea and against everything bitcoin stands for!!!
Taking a quick look at Coldkey, isn't this pretty much something like the Ballet Wallet? Pretty much like trusting a person/manufacturer to generate a paper wallet for you? Yikes.
With the look of it, it is. The reason we should not trust anyone or anything. Bitcoin was created to be trustless. I can never use such wallets, I can never call it cold wallet when I was even not the one that generated the keys myself and I can never trust anything like or related to me not generate my keys myself. 
but he choose to leave it and promote his project [ANN] Coldkey™ -- Secure cold storage wallet cards.
Taking a quick look at Coldkey, isn't this pretty much something like the Ballet Wallet? Pretty much like trusting a person/manufacturer to generate a paper wallet for you? Yikes.
yogg was very known trusted user in this forum, he was once a Chipmixer participant, but he choose to leave it and promote his project [ANN] Coldkey™ -- Secure cold storage wallet cards.
There's no problem about it until this thread was created My Cold Keys Just Got Swiped! All Halving Sets!!, this user lost all of his coins since yogg was swiped his funds, there's a user said yogg was saved the private keys of at least one specific series of pre-funded coldkeys.
What can we learn from this story?
1. Don't trust anyone including the most highest trusted user in this forum!
2. Don't buy cold wallet/hardware wallet from second hand user e.g. not from official seller.
3. Only buy the popular, open source and secure cold wallet/hardware wallet e.g. trezor.
4. If you buy or get collectibles in this forum, just use it as a collection.
5. Don't need to worry and afraid if you think the firm/company which created the cold wallet/hardware wallet will save your seeds or private keys because it's generated randomly Seed Generation in Hardware Wallets.
Is there anything else I missed? feel free to give any suggestions
There's no problem about it until this thread was created My Cold Keys Just Got Swiped! All Halving Sets!!, this user lost all of his coins since yogg was swiped his funds, there's a user said yogg was saved the private keys of at least one specific series of pre-funded coldkeys.
What can we learn from this story?
1. Don't trust anyone including the most highest trusted user in this forum!
2. Don't buy cold wallet/hardware wallet from second hand user e.g. not from official seller.
3. Only buy the popular, open source and secure cold wallet/hardware wallet e.g. trezor.
4. If you buy or get collectibles in this forum, just use it as a collection.
5. Don't need to worry and afraid if you think the firm/company which created the cold wallet/hardware wallet will save your seeds or private keys because it's generated randomly Seed Generation in Hardware Wallets.
Is there anything else I missed? feel free to give any suggestions
Jump to: