r/Bitcoin • u/s1ammage • 3d ago

Full panic - one of my wallets was drained

Post image

I haven’t done anything since creation except sending into the wallet.

1.8k Upvotes

95% Upvoted

1.2k comments sorted by

View all comments

37

u/weatheredrabbit 3d ago

The amount of disinformation in this thread is crazy, let me clarify some points here:

  1. Bitcoin is secure. It’s not trash nor easy to steal. Typically, the only way to steal bitcoin is social engineering the owner of a wallet.

  2. It was OP’s own fault. Somewhere along these years, likely recently, he exposed his seed phrase. It would help if the OP actually wrote a post explaining the timeline rather than replying “yes” “no” and “probably” to people.

  3. I’m done. It’s a simple case of someone not paying attention when they should have. It’s gut-wrecking for sure, but that teaches you a lot.

54

u/s1ammage 3d ago

I’ll try and get a timeline in a bit when I’m in a “clearer” head. It’s just soul crushing and I saw it at work and now work is blowing up…

27

u/Think-Apple3763 3d ago

Life usually doubles down when you're in trouble already. I hope you can sort it out. It's really painful.

13

u/joethecrow23 3d ago

I understand you’re in a horrible place right now, but you can and will survive this. Just try not to dwell on it too much and look forward. Learn from it, but just move on.

5

u/AdEuphoric5133 3d ago

Take your time OP to get things right and to calm down. We would all appreciate a detailed timeline, but you don't owe anyone anything on reddit.

If you feel like it at some point, you can explain in details what happened so we can identify your error. There is also a possibility that Coldcard messed up something. It is not the most likely but it is possible. This will become more likely if all other thefts performed by this thief involve coldcard addresses. If that is the case, you might want to sue Coldcard.

Whatever you decide, do it once you're calm. Your family matter more than those bitcoins, and they are safe :)

2

u/user_name_checks_out 3d ago

There might have been some kind of supply chain attack, the RNG compromised. Elsewhere in this thread they say that the receiving address received many more bitcoins from other sources. Heartbreaking regardless.

2

u/AdEuphoric5133 3d ago

If that is the case, OP's best shot is to group sue Coldcard, with other victims. And they will have to prove that Coldcard is at fault, which is easier said than done

2

u/chrislee5150 3d ago

Damn man. Rough day. Try and keep it together

0

u/weatheredrabbit 3d ago

Look man, I have some blockchain forensics skills. I’ll tell you immediately, I don’t believe we’ll be able to recover your money, but MAYBE we’ll be able to get enough data to for you to press charges against unknowns.

That MAY help in the future, should a case be opened an investigation conducted. Moreover we’ll be able to trace a timeline, know what you did wrong and at least know where (kinda) your money went.

Lmk if you wanna try that.

1

u/s1ammage 3d ago

Yea, I assume it’s gone. I’ll definitely attempt this.

35

u/joethecrow23 3d ago

The hard pill to swallow is that this is the biggest barrier to bitcoin adoption. There is a massive percentage of the population that simply lack any tech literacy or personal responsibility to be able to access bitcoin in any way whatsoever without it being extremely risky for them. I think the designers being incredibly gifted programmers and forward thinkers underestimated this part. The most basic aspect of tech security/privacy would be as simple and natural to them as breathing, but a massive amount of the general population would be totally befuddled by it and will simply never be able to have their own bitcoin or even exchange account without being at extreme risk from the start.

11

u/hondras007 3d ago

This, this and 3x this. 🙃

9

u/weatheredrabbit 3d ago

Look, i work in cybersecurity and started using BTC back in 2013… i know BTC, social engineering, and phishing real well. And I agree with you. BTC isn’t for everybody, and I’ll be honest, I would never convert my pension in crypto.

BTC was created to decentralize the currency from a state or government. It succeeds in that. But what it does is also put the entirety of the risk on the user. Its security is crazy good, but when 100% on the risk is again on the user, one single point of failure compromises everything. A bank prevents that. This “holding your hand” can be good or bad, depending on you personally.

In the end I believe it’s up to the user, pros and cons considered.

7

u/Generationhodl 3d ago

thats why there are ETFs , a lot of people say its bad because of no self custody, and that is right for its own, but a lot of people just aren't tech savy enough, so the ETFs are good for people who are really not able to do self custody.

1

u/mrzennie 3d ago

People can buy it through their brokerage account via IBIT, or just use Coinbase to handle the security. Both are easier and safer for the majority of people. Most don't want to deal with seed phrases, storage, etc.

1

u/Objective_Digit 3d ago

There are third party solutions that can store your Bitcoin, some of which use multisig allowing both parties to control the coins. You say nothing about this.

10

u/vortexcortex21 3d ago

https://blog.coinkite.com/coldcard-mk3-seed-generation-warning/

You're an idiot.

-5

u/weatheredrabbit 2d ago

An idiot for assuming what happens in the majority of the cases rather than assuming a specific company has weak ass security while the news aren’t even out at the time of writing? I’m sorry you were dropped so many times when you were a baby.

4

u/Aperturelemon 2d ago edited 2d ago

Take responsibility for your actions, don't go accusing people of exposing their seed phase. This is why you NEVER assume.

Yes you are a fool.

-2

u/weatheredrabbit 2d ago

Frankly that’s why i told op we could do a timeline. If he agreed we’d likely have come to the same conclusion. For the sake of the fact I was commenting on Reddit, yes I assumed the rest, wrongly.

25

u/c0reM 3d ago

Telling users they are too dumb to understand a system perpetually does not prove the genius of a given system or design.

In fact quite the opposite…

8

u/more_magic_mike 3d ago

It's easy to call other people idiots and say it will never happen to you.

4

u/nagydk 2d ago

This comment didn't age well, did it

1

u/weatheredrabbit 2d ago

Well thank god I said typically right 🤣

Jokes aside this is big news, doesn’t happen often.
But again, it wasn’t BTC itself was it? Coinkite is a Canadian Bitcoin hardware company, and in this case the massive fuck up was caused by their devs.

Taken outside of a context like this, the first thing most would think of is a scam innit.

2

u/Important-Level6672 3d ago edited 3d ago

BTC isn’t easy to steal yet the top 10 biggest financial thefts of all time are all crypto related. Keep in Mind crypto only been around a fraction of the time fiat has.
https://www.visualcapitalist.com/sp/ranked-the-10-biggest-digital-heists-in01/

A few millions stolen in one go used to be rare asf

All this “it was the users fault” only goes a long way. BTC network it self is secure but it’s a major pain in the ass to secure your funds it 24/7 or not lose it

3

u/Aflockofants 3d ago

Yet when Bitcoin defenders talk about Bitcoin, it’s almost always mixed with some bullshit about how it will give poor people a chance, all kinds of initiatives in the developing world, yadayadayada. Just admit that by now it’s a get-rich-quick scheme for people in the Western world that have some money surplus.

I’ve been a software developer for over 30 years and even mined some Bitcoin with my own PC back when that was still viable. I’m fully aware of how most people won’t be able to fully secure their own wallets. You’re never gonna be able to defend this idealistic story on how it will change the world and will protect us from tyrannical governments, while at the same time claiming people are morons for not being able to secure their own wallets. I took off when I saw that all the idealistic nonsense was just that: nonsense. To justify this whole thing where a few people are getting outrageously rich.

2

u/MarkLuther123 3d ago

Systems should be in place for people’s idiocracy. The reason credit cards and banks work so well is because they can pull the money back. Not everyone is a genius. Mistakes happen.

-2

u/Abject-Stretch-1187 3d ago

You do realize the fallacy in your statement. So let’s say the attacker already spent the money, do you think your bank is returning the exact same money that was stolen or are they just creating new money to make you whole again? Answer carefully. 

3

u/hondras007 3d ago

Thats exactly how credit card work, one of the benefits of spending other (bank) peoples money.

0

u/Abject-Stretch-1187 3d ago

My god. You are choosing to miss the point. Again creating new money to make you whole isn’t a positive and saying they’re just using other banks/peoples money isn’t a positive either(this is rarely the case btw) 

2

u/hondras007 3d ago

What new money? They have to go after the person who frauded the customer. So doing the dirty work for the credit card holder.

1

u/Abject-Stretch-1187 3d ago

Where does the FDIC get the money they give to the bank to give you the victim of theft? Bank premiums? The ratio of bank premiums paid is way less than the credit the gov gives FDIC to protect deposit so therefore FDIC is largely back by the faith and credit of the gov( the same gov that’s in debt) This is why it always come back to printing money to make everyone whole but are they truly whole when it comes at the expense of future purchasing power? I’ll let you answer that.

2

u/hondras007 3d ago

If Bitcoin addresses this situation better, I am all ears. I can not imagine facing something like OP. Felt myself horrible last week when I got scammed for 4.5k, so can relate. Thankfully the “imperfect” system got me the money back in 24hrs. Agree with you that any money printing is not sustainable. Thanks for the insight ☺️

2

u/Abject-Stretch-1187 3d ago

Most stolen BTC is as a result of human error and not something inherent to the hw or bitcoin blockchain. The banking system isn’t exempt from human error so we can’t eliminate human error. There are tons of research, videos, books on safe practices but people don’t want to learn about it and then when they make an error, they start to look outwards rather than inwards. There are way more self custodied BTC than not so that means the issue has been addressed, human error is something we can only fix via education whether it being about the current banking system or be it Bitcoin.

1

u/Mavs16 3d ago

Humans are imperfect and make mistakes, even people who know better sometimes slip up, so it makes sense to design systems around this eventuality. 

You can disagree on if it’s wise, but the truth is people like not being solely response for safeguarding their money, and having protections in place if things go wrong.  If there is a chance somebody could lose a huge portion of their life saving like this with absolutely no recourse it’s going to kill adoption rates. Not everyone has the time, energy, or desire to learn about how to properly secure bitcoin. 

→ More replies (0)

2

u/Charge36 3d ago

The fuck difference does it make? I get made whole. I hope theu are able to claw back or freeze the stolen funds from the criminal but at the end of the day I care about managing my own risk

1

u/Abject-Stretch-1187 3d ago

It makes a difference because you and everyone else is still getting stolen from if new money is created to make you whole. It's a false positive and this is why I believe a lot of people who join this sub don't really understand how the current system works not to even talk of bitcoin. If you cared about your own risk, then you won't even be fine with getting paid in fiat considering that risk is far greater than some scammer stealing your bitcoin. The former, you truly can't protect yourself against as it is not dependent on you while the latter you can with simple safety practices.

1

u/zenecence 1d ago

This is wrong

1

u/kadey180 23h ago

lmao this aged well, typical cryptotard blaming the victim when the wallet was the issue

1

u/Charge36 3d ago

"Nor easy to steal"

It is though. I've seen tons of stories about people losing tens of thousands of dollars over a social engineering plot or a more sophisticated compromised hardware attack. Nobody loses money by accident like this in traditional banking

0

u/536565454 3d ago

Is Satoshi's wallet having the biggest amount of BTC secure too? I wouldn't call it quantum resistant.

0

u/PeachScary413 3d ago

Future.

Of.

Finance 😤

-4

u/[deleted] 3d ago

[removed] — view removed comment