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by pinkybanana 1763 days ago
> It's pretty crazy the number of people who bought Bitcoin/crypto at such an early stage (e.g spending >$1000 on something nearly worthless and very obscure) yet are very bad at the security of this. You would think the first step to recovering >$10M plus would involve a Google search or two.

Though $1000 is a money typical let's say IT employee can easily spend and lose without having major issues. The issue with some early BTC adopters is that it was like buying a lottery ticket, most probably assumed that they would be likely losing the money, therefore they didn't invest in security and careful planning. Many people working for FAANG for example don't have to work that long to make $1000, so it is quite natural not to spend several hours of r&d on $1000 investment.

1 comments

The lack of security at the time of purchase isn't really the issue... it's the lack of security & best practices at the time of recovery that is the issue. Anyone getting >=10,000x returns on crypto basically had to have either forgotten or temporarily lost their crypto because 99.99% of people would sell after getting 1000x gains.

I think the main issue in this vulnerability was only fixed in early 2019 so it is super recent compared to the value & state of cryptocurrenty. Even I would expect any crypt wallet software from 2018 to be secure because crypto was no longer a niche interest at that point. Sure regular security & bug fixes are a norm for modern software but having such an egregious issue as recent as late 2018 is unacceptable.