wallet security

Original Bitcoin Core Developer Has BTC Stolen From Wallet

An original Bitcoin Core developer has recently had their BTC stolen from a wallet that held over 4000 BTC. The news was first posted on an online forum and then was quickly picked up by crypto news outlets and social media. This incident has highlighted the need for everyone, especially those who possess large amounts of BTC, to take extra security measures when it comes to storing their digital assets.

Here’s What Happened

According to the developer, their wallet was hacked in the early hours of the morning and the hacker had access to the wallet for a reported five hours. During this time, the hacker made off with over 4000 BTC which amounts to a whopping $68m. The wallet in question was a hardware wallet, however, the exact model or brand remains unknown.

Security Measures To Avoid This

This incident highlights the need for users to double-check their security settings, especially those who hold large amounts of BTC. Here are some of the measures you can take to avoid falling victim to something similar:

  • Ensure that your wallet is kept offline whenever possible.
  • Set up two-factor authentication (2FA) for better security.
  • Always use strong, unique passwords for your wallets.
  • Make use of a reliable physical security system for your wallet.
  • Regularly back-up your private keys.

Conclusion

This incident should serve as a reminder to us all to take extra security measures when handling our digital assets, especially large amounts of BTC. Following the suggested steps and keeping yourself updated with the latest security protocols can help keep your crypto holdings safe.

Author avatar
Nusrat Jahan

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