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An unidentified 36-year-old man who owns a Bitcoin account has lost more than 100,000 euros ($117,000) worth of Bitcoins while he was logged in on a public wireless network in a restaurant in Vienna, Austria.
The Austrian police, however, claimed that they are still investigating whether the victim's account was already hacked before he opened his account on the unsecured network, CBS reports.
This latest case reflects the growing concern over the security of digital currencies like Bitcoin and Ethereum amidst their growing popularity as a mode of payment.
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Bitcoin Account Holder Loses $100K Over Public Wireless Network
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Everything you know is wrong!
(Score: 0) by Anonymous Coward on Sunday November 26 2017, @01:47PM (8 children)
Duh. It's far less safe than most any other currency or precious metal I can think of. Most people are in it because they are speculators. Bit coin is not safe.
(Score: 2, Insightful) by Anonymous Coward on Sunday November 26 2017, @02:31PM (1 child)
If you want to transport a significant amount gold, you have to travel with it, in secret or with an expensive posse of armed guards.
During WWII, Jews traveled with gold sewed up in their clothes.
Yet, with Bitcoin, your money is merely data, which can be organized, stored, hidden, split apart, and put back together in all manner of clever ways. You can split control between multiple groups, or store one piece of "seed" data in your own brain, etc.
There is nothing in the world of money more secure than Bitcoin.
With Bitcoin, your safeguards are limited only by your own imagination or knowledge; it would seem you are lacking in both of these.
(Score: 0) by Anonymous Coward on Monday November 27 2017, @01:18AM
You've reminded me of the john Wayne, Kirk Douglas 1967 action flick "The War Wagon", set circa 1875.
Armor, gun ports, and a turret with a Gatling gun [alamy.com]
The way the bandits deal with the turret is a pretty great scene.
Full movie 71:08 [youtube.com]
-- OriginalOwner_ [soylentnews.org]
(Score: 1, Informative) by Anonymous Coward on Sunday November 26 2017, @02:41PM (5 children)
It sounds like he was logging into a web-based exchange.
Well... that's not Bitcoin. That's just regular web security.
It's amazing how few people comprehend what Bitcoin is; they just cannot fathom a system that is divorced from a centralized corporation that provides accounts.
(Score: 4, Insightful) by maxwell demon on Sunday November 26 2017, @07:09PM (4 children)
Indeed, had he logged into his regular bank account, a compromise could as easily have cost him the contents of his bank account instead. Indeed, that is actually a not too uncommon occurrence, it just usually doesn't make it into the headlines.
The Tao of math: The numbers you can count are not the real numbers.
(Score: 0) by Anonymous Coward on Monday November 27 2017, @01:28AM (3 children)
The OP said as much.
(Score: 0) by Anonymous Coward on Monday November 27 2017, @02:46AM (2 children)
Not explicitly.
(Score: 0) by Anonymous Coward on Monday November 27 2017, @05:53AM (1 child)
TIL people are morons who need to be spoonfed. (not OP)
(Score: 0) by Anonymous Coward on Monday November 27 2017, @02:58PM
TIL = Today I Learned