Phone call yesterday from a friend confirming the first @npub19can...qj29 loss of funds from within our local Bitcoin network. 😢 Thankful that I was not personally affected, but it just hits so close to home.
An entire stack wiped out; a truly significant amount of funds. How do we as a community react? Socialize the losses? Start a fundraiser for a fellow pleb? Pat them on the back an say “you can always start stacking again…”???
I’m truly at loss how to process and move forward. Something we should probably consider as fellow bitcoiners is how to adequately respond and move forward from here.
It could have been any one of us. Pure luck that I still hold the keys to my PoW after all these years. 🧡
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Replies (21)
Define a significant amount in terms of sats.
I'd donate to that fund if i felt like others would do the same for me. None of us can do it alone and I don't want to be rich while everyone else is poor.
Something something rising tides.
I'd be at a loss for words. 🫂🫂🫂
How would the community react if someones shop got burnt down by bad wiring from an electrician who already fled town?
Or how would the community react if a burglar broke into someone's home and stole all their cash?
This situation is kinda comparable to those situations.
Frankly, I don't feel bad for people putting code between themselves and their PoW.
Satoshi didn't need a fancy device to secure 1M BTC.
Lesson in there somewhere.
Financial stress can be tough, focus on nutrient dense foods like meat to help cope with stress.
I agree. You’d like to *think* the community would rally behind in those examples and offer some kind of a support net.
Yeah we all take on a personal risk in everything we do, as it is with everything in life.
But generally, when someone close to us gets hit with some type of significant unforeseen life changing event (severe sickness or disease, natural disaster, depression, debilitating accident, victim of crime or negligence, etc) you’d like to think the community would rally behind and at least help them get back on their feet.
They aren’t gonna be homeless, but they lost their regiment savings and anything thy would have handed down to their children.
Loss is an opportunity to re-examine risk and responsibility, pillars of individual sovereignty.
My feelings too. I’d do the same. The question is though: *Would* they?? I mean, if it were you? Or me?
My personal lived experiences tells me that while I am the one to jump up and try to help anyone and everyone whenever possible and in proportion to my personal abilities, etc. But when the situation is reversed: the few times in my life I have stood up and said, “I am suffering I could really use a hand” there was no one there.
Same, I had no idea how to even reply or what kind advice I could possibly give. Everything I could think of in that moment just seemed shallow and inadequate.
*retirement
Kinda looking for a number, even a range would be nice. I know someone who wouldn’t be homeless and their life savings was 2m sats.
I'm kind of stuck in a doom loop reading over stories of loss from the coldcardtastrophe. It hits me hard every time. I still don't really know what to say.
🫂
I recommend them to start anew with Monero.
They will even thank us later.
@Filou socializing the losses feels good and teaches nobody. the thing that actually protects the rest of your network is everyone checking this week whether their own setup has the same failure his did, while the story is still fresh enough to scare people.
We catch this fucker by eternal vigilance of the funds, checking what moves they make, be a step ahead in seeing where they go and use the power of a decentralized network to make this hacker paranoid. Many can be returned if the hacker is caught everything is traceable
Serious question: how can you be sure is not a fake drain?
Can you prove the destination address is not his own other wallet?
I do not deny the vulnerability, but this incident can be an opportunity for some people to say " I lost my sats in a coldcard accident"....
Exactly why it will be nearly impossible for any redistribution of funds even in the slim chance that they are ever recovered.
In this case yes, the organizer of our local Bitcoin meetup was with them personally helping to migrate their funds off coldcard. When they loaded up the xpub in sparrow they discovered the outgoing txs together… funds had already been swept.
Some people would definitely try to take advantage of this situation for sure. But yeah, sadly this one at least they have verified that the funds went to one of the known addresses of the attacker.