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Apple Co-founder and Tech Giant Steve Wozniak Swindled Out of $70,000 in Bitcoins

3 months ago 2286 views

Bitcoin scams are increasing day-by-day and no one is an exception to the fraud; not even tech legends like Steve Wozniak. Scammers have successfully tried to steal cryptocurrency from exchanges and even mining services. Now they have made a victim out of Steve Wozniak also.

The multi-millionaire revealed this week that he had 7 Bitcoins stolen from him recently. The bitcoins are valued at about $10,000 currently. The loss of Steve Wozniak can be valued at approximately $70,000 according to today’s exchange rate.

He had bought the bitcoins as an experiment back when they were worth $700. Like many other people, he decided to sell them off online owing to the current erratic fluctuations in cryptocurrency exchange rates. He admitted that he sold his bitcoins to someone on the internet who paid through a stolen credit card and then cancelled the payment. With a stolen credit card number, it is impossible to get it back. He explained it was that easy and simple. It was a perfect scam.

Joe Blackburn of Cryptohunt said that it is most important to take a number of security measures when it comes to cryptocurrency because there is a lot that can go wrong. And if the scammer can steal Steve Wozniak of such a huge amount, then the amount of fraud happening to other people will be so big.

With everyone owning bitcoins in a large amount of money, certain security measures are important.

1. Store Offline:

One of the safest ways to secure your bitcoin is by taking them off the internet completely. It can be done by generating a public address and a private key (PIN) which are basically a set of number and letters in combination.

2. The sources:

Buy and sell your bitcoins only through trusted sources like exchanges and never attempt an ‘over the counter’ transaction like Steve Wozniak did. Day by day the hackers are becoming more and more sophisticated and so attempting a transaction through untrusted source could be dangerous.

3. Authentication:

Just like your emails and everything account online, a two-factor authentication is essential for storing your cryptocurrencies too.