Large hack in crypto

On February 22, Dreamhost founder Josh Jones claimed that $ 30 million worth of cryptocurrencies were stolen. In a post on Reddit, which was deleted in the meantime, Jones said he was stolen 60,000 BCH and 1500 BTC by compromising the SIM card. This is the first large-scale hack in crypto.

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1 Roger Ver praises the attack

2 Large-scale hack in crypto – Nothing can be done!

2.1 Related posts:

In the deleted post, Jones appealed to BCH miners not to validate the transactions. He wrote:

“They only had 3 confirmations, if some miners / community can help somehow, I have private keys. Help help help … Great reward, obviously. “

Hackers appear quite frequently in the crypto industry. But when such an attack involves millions of dollars in one of the most prominent cryptocurrencies, it draws attention to the highest level.

Roger Ver praises the attack

In an interview with Cointelegraph, Bitcoin Cash supporter Roger Ver highlighted the positive aspect of the theft for BCH:

“Here’s someone worth at least $ 45 million and who chooses to keep most of their wealth in Bitcoin Cash, not in what everyone calls Bitcoin today. This is a positive sign for Bitcoin Cash – that someone with so much money keeps them in Bitcoin Cash and not in BTC. ”

He also argued that the attack could have positive implications for BCH, indicating that, despite the tragedy, its intrinsic value is high enough to attract criminal interest:

“The fact that hackers are willing to go and steal Bitcoin Cash means that it is something worth stealing, that it is valuable. If it wasn’t valuable, it wouldn’t have been worth it, the hackers wouldn’t have tried to steal it. ”

Ver has not ruled on Jones’ ability to recover stolen funds. He stressed that the impossibility of recovery is reduced to the intrinsic nature of cryptocurrencies. He acknowledged that nothing can be done:

“They cannot be recovered, although in a way I wish there was a method of recovery to some extent. But, on the other hand, this is an essential aspect of cryptocurrencies – transactions are irreversible. ”

Large-scale hack in crypto – Nothing can be done!

He seemed to give the hacker tips on how to avoid getting caught:

“The reality is that no one can do anything unless the hacker is stupid enough to hack cryptocurrencies directly on an exchange without sending them through any mixer. Something like CoinShuffle or CashFusion on Bitcoin Cash. There are a lot of interesting tools that allow you to hide the origin of Bitcoin Cash cryptocurrency. In this case, it is a little sad that these tools will be used to help a hacker. ”

Commenting on the events, Dovey Wan, founding partner of the crypto fund Primitive Ventures, warned that the theft will have a major impact on BCH. She criticized Jones for having kept such a large amount of cryptocurrency in an accessible wallet on his smartphone.

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Kaspersky security chief Pavel Pokrovsky, however, said mobile wallets are not inherently risky – it depends on the implementation:

“Normally, portfolios developed by crypto-large companies that have passed security assessments can be considered more reliable compared to the portfolios developed by individuals. Quite often, we deal with phishing cases when wallet applications are developed specifically for the purpose of stealing funds. Also, targeted attacks appear, though they are not specifically related to mobile wallets. “

In any case, keeping such large amounts in easily accessible wallets is not a good idea, as Jones’ situation has shown.