This Guy Lost $67,000 in Bitcoin When he Upgraded His Computer
Keeping a Bitcoin wallet on a computer makes a lot of sense to consumers, but they do not always take the effects of upgrading the machine into account. One guy upgraded his computer and lost $67,000 USD worth of bitcoin in the process. Upgrading the Computer With a Bitcoin Wallet. When users install a bitcoin wallet on their computer, several important....
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Bitcoin holding is only as good as long as the holder does not lose their keys. It is very important when it comes to holding to make sure that one’s keys are secure. This is because once the keys are lost, there is no way to recover the lost coins. That is how secure the Bitcoin network is. This is the case of a South African man who had accidentally deleted the keys to his wallet that contained 20 BTC. A report from MyBroadband follows the story of 24-year-old Mark Michaels (name changed), an electronic engineer from Pretoria, South Africa, who had lost the key to his wallet which had 20....
Bitcoin is scarcer than people think, as most look at the current distribution at close to 16 million BTC released so far. However, far fewer Bitcoins are actually accessible. Many people don’t account for the thousands missing, some of them burnt, and wallet stashes that may never be spent. Missing Hard Drives, Faulty Upgrades, and Lost Paper Wallets....
Hong Kong-based digital currency exchange ANX has upgraded its iOS app with added functionality, after Apple recently relaxed its strict stance towards bitcoin-transmitting apps. The 'ANX Vault' app now includes the all-important send and receive functions vital to any bitcoin wallet. Although always available on the Android version, these features have only now appeared for iOS. ANX has also upgraded the Android version. Both Android and iOS editions of ANX Vault now feature the ability to send bitcoin via email to recipients who do not yet have bitcoin addresses. Security features. Both....
A Spanish Court has issued an order compelling a division within the country’s police to investigate the possible existence of “computer fraud” on the Bittrex cryptocurrency platform. The order was issued following the filing of a complaint by a Tenerife based Bittrex user who claims to have lost 1.3 BTC (or $58,000) that was stored on the exchange platform. Cybercriminals Blamed According to a Spanish media report, the unnamed user’s problems started when initial attempts to access his funds were unsuccessful. However, after gaining access some 48 hours later, the....
A young South African electronics engineer has rued his decision to delete a text document containing the keys and password to a crypto wallet that held some 20 bitcoins. According to the engineer, the lost coins had been mined more than ten years ago using a modified personal computer that “boasted an AMD Phenom X3 processor and 512MB RAM.” Low BTC Price and Lack of Exchanges According to a Mybroadband report, the 24-year-old engineer whose pseudonym is Mark Michaels, started mining the cryptocurrency “after reading about the technology on the internet.” At the....