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Bitcoin core developer loses BTC stash to hackers

Bitcoin developer

TL;DR Breakdown

  • Hackers steal BTC from Bitcoin developer
  • The Bitcoin developer refused to disclose his total loss
  • Community members give an opinion on the hack

One of the contributors in the development of Bitcoin has claimed to have lost all his Bitcoin stash to a hacker at the cusp of the new year celebrations. According to the developer Luke Dashjr, the hack occurred some hours before midnight. In a post by the developer on Twitter, he mentioned that the hackers were able to breach his PGP, a device that acts as a key in hardware wallets.

The Bitcoin developer refused to disclose his total loss

The PGP, also known as Pretty Good Privacy, is a security measure where two keys are deployed to secure encrypted data and, in this case, the BTC stash. In the thread, Dashjr released the recipient wallet to which his stolen asset was sent but failed to disclose how much of his BTC was stolen in the hack.

At the time of the thread, the wallet contained more than 200 BTC totaling more than $3.6 million. Also, only four transactions were carried out towards the end of the year using the wallet, with the first coming in at 2:08 and the fourth at 2:16 pm on December 31. The developer said he had no idea how the hackers could carry out the dastardly attack on his account.

Community members give an opinion on the hack

Some members of the crypto community have lent a helping hand in ascertaining how the hackers were able to breach his security. The members concluded that the hackers deployed a malware attack on his servers, which compromised his systems. Dashjr also mentioned that he noticed the changes in the account when some exchanges sent him messages about activities. Others in the crypto community have lent their condolences and support to the developer, Binance CEO CZ led.

Redditors have also expressed their condolences, while others have noted that the developer failed to address the issues that first occurred on his computer. The Redditors said that he kept all his wallet and other activities on the same computer, and when the malware was deployed, the hackers could access everything. While others suggest that it might have been carelessness on the developer’s part, some claim he is trying to evade paying taxes with the recent claims. This recent news has also triggered the need for people to own hardware wallets. Influential crypto community members have also drummed up the need for hardware wallets going by the recent FTX issues.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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