Friday, December 3

Investor loses R$ 10 million in bitcoin after making a simple mistake

Losing money with cryptocurrencies is normal, since losing money with market variations, problems with hacker attacks or other bigger ones, such as scams. The website The Sun highlighted one such story, with a user losing a fortune in Bitcoin by relying on the wrong server to store their passwords.

Tomoko Slankard, a Reddit user posted on the social network his story about how his small fortune in Bitcoin was stolen. According to the report, he lost bitcoin after hackers gained illegitimate access to a server where he had saved his passphrase.

He shared his harrowing story in a thread titled: “What’s your cryptocurrency horror story?”

With improper access, hackers managed to steal the 33 bitcoins that the investor had in his wallet, value of approximately US$ 1.8 million in the current quotation of the cryptocurrency, around 10 million reais.

10 million reais

According to TomokoSlankard, he spent $20,000 to start his bitcoin fortune, and if it hadn’t been robbed, he would have been a millionaire today.

“My recovery phrase was stolen. My wallet had 33 BTC. At the time it was worth around US$ 600 thousand, now, almost US$ 2 million (…) The phrase was stolen when the backup server was hacked.”

For many, the investor ended up “going soft” with their key, trusting an unsecured server to store such important information.

Others were more empathetic with the situation, with one user commenting that “It hurts, but it wasn’t your fault. I hope you can earn a lot more than that.”

Losing money in the cryptomarket is not uncommon, as we talked about at the beginning of the text, losing money on any investment is not. And while all necessary precautions must be taken to prevent theft and loss of your money, it is even more important to take the necessary precautions not to be negatively affected in your health and psychological condition by these losses.

Regardless of what happens, there are things more valuable than your investment in cryptocurrencies and things that are sunk.

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