Merged Bitcoin - Part 3

[psionl0]

bitcoin is a cryptocurrency, not sure why you’d don’t think it’s part of that $9.3b when it almost certainly is given it’s popularity

So, no news reports. Just your assumption.

 

[dirtywick]

it's not an assumption that bitcoin is a cryptocurrency, that's a fact.

anyway, if you really need a news report specifically about a phishing scam regarding bitcoin, which isn't difficult as you'd have found out if you had even put a tiny amount of effort into educating yourself about information you just learned about instead of getting mad at me for presenting it to you, here's an example of a $21m bitcoin phishing scam that targeted the south korean government

South Korea Sells 321 BTC Recovered From Phishing Attack

The sale follows a custody breach that briefly removed seized Bitcoin from prosecutors’ control, raising questions about handling confiscated crypto.

cointelegraph.com

 

[psionl0]

it's not an assumption that bitcoin is a cryptocurrency, that's a fact.

Wow. So THAT'S what we were talking about.

 

[dirtywick]

yes, we were talking about the article covering the $9b in scammed cryptocurrency the whole time. cryptocurrency includes bitcoin, because it's a cryptocurrency. i hope we finally got that cleared up, but i have a feeling there's some rude follow up post coming

 

[psionl0]

yes, we were talking about the article covering the $9b in scammed cryptocurrency the whole time.

No, we were talking about the article covering scams involving Ledger and Trezor. You tried to include bitcoin in the mix without evidence.

Bitcoin wallets are obviously susceptible to loss/theft/fraud as well but if it is by the same mechanism as that for Ledger and Trezor then the onus is on you to show that it is. You can't just say "something else is bad therefore bitcoin is bad".

 

[dirtywick]

they’re cold storage wallets for bitcoin and other crypto

 

[dirtywick]

also bitcoin isn’t bad because ledger is bad. bitcoin is bad because it’s stupid

 

[psionl0]

they’re cold storage wallets for bitcoin and other crypto

So it's using a third party to hold your cryptos?

also bitcoin isn’t bad because ledger is bad. bitcoin is bad because it’s stupid

Opinion =/= fact. And what is the link between ledger's badness and bitcoin's "stupidity"?

 

[dirtywick]

So it's using a third party to hold your cryptos?

it’s a device you can use to store your crypto offline, often referenced as one of the most safe and secure ways to store it

Opinion =/= fact. And what is the link between ledger's badness and bitcoin's "stupidity"?

nothing.

bitcoin is stupid for a lot of reasons, one of them is self custody and safe storage from theft. cold wallets attempt to address that by being one of the most secure ways you can store your bitcoin. despite that, tens of thousands of people lost billions

 

[psionl0]

it’s a device you can use to store your crypto offline, often referenced as one of the most safe and secure ways to store it

But the article you linked to was not about offline storage devices. It was about fake wallet apps.

nothing.

Of course not. You attempted to segue into bitcoin in the hope that the reader would infer that the article was proving something about bitcoin.

 

[dirtywick]

lol i have to assume you're messing with me at this point

just do a little reading on the topic if you want to know more about it.

 

[psionl0]

At least you are not accusing me of being emotional this time.

 

[dirtywick]

you're being ridiculous this time

Get started with the Trezor Safe 5 | Trezor Knowledge Base

Learn how to set up your Trezor Safe 5 hardware wallet using Trezor Suite. This step-by-step guide covers firmware installation, wallet creation, secure backup methods, and PIN configuration to ensure the safety of your cryptocurrency assets.

trezor.io

here's how to set up a trezor hardware wallet, which is a physical device. notice step 1 is installing an app

 

[dirtywick]

1.5 Million Binance Users' Data Is for Sale. This Is the Third Time in Three Months - DailyCoinPost

Threat actor PexRat is selling a database of 1.5 million Binance users including names, emails, KYC status, 2FA type, and login IP addresses. Here's what's in it and what to do right now.

dailycoinpost.com

binance has a data security problem, 1.5 million user info including everything you need to access their accounts is for sale

 

[dirtywick]

Bitcoin miners are becoming AI companies and selling their BTC to fund the transition

The average public miner spent $79,995 to produce one bitcoin last quarter. Bitcoin is trading at $70,000. The math doesn't work, so the industry is pivoting to AI, taking on $70 billion in contracts, and liquidating bitcoin treasuries to finance the shift.

www.coindesk.com

bitcoin miners pivot into ai offering massive contracts, following mining costing significantly more than the reward.

 

[jeremyp]

Suffice to say that nobody can take tokens out of your bitcoin wallet without your private key and no amount of phishing will convince a wallet holder to disclose it. (Trusting a third party to hold your btc in their wallet is a different matter).

A private key is a very large randomly chosen number of the order of thousands of binary digits long. Typically, people can't remember numbers that big so they store them somewhere encrypted with a pass phrase or other protections. There are several ways a phishing scam could target bitcoin wallets. Assuming it's on the mark's PC, you could compromise the PC to get the private key and use a key logger to get the passphrase. Or you could use a convincing looking web site to get them to upload the private key and passphrase.

People aren't that stupid, I hear you say. Well, they are. If they don't fully understand the technology, they can do all sorts of stupid things. In the company I used to work for, One ostensibly IT literate guy allowed access to an important server by creating a single ssh key pair and then handing the private key to anybody who needed access. This was precisely the opposite of what needed to happen (the people needing access should create the key pair and then give the public key to the guy operating the server).

Most people don't understand Bitcoin at the technical level. You, at least, seem to know what a private key is but I bet most people with a crypto wallet don't know and wouldn't understand the significance of uploading a certain weirdly named file to a web site.

 

[psionl0]

Most people don't understand Bitcoin at the technical level. You, at least, seem to know what a private key is but I bet most people with a crypto wallet don't know and wouldn't understand the significance of uploading a certain weirdly named file to a web site.

You don't need to be all that tech savvy to be aware that an unencrypted walled stored on an unprotected computer can be stolen.

Many people get scammed in many ways (not just crypto) because they fail to follow some simple rules such as Never click on a link in an Email sent by somebody you don't know and trust or never install software provided by somebody you don't know and trust or . . . (I'm sure that you can add to this list).

 

[dirtywick]

https://www.forbes.com/sites/digita...ers-could-break-bitcoin-sooner-than-expected/

google moves up the quantum computing algorithmic break of bitcoin to 2032, aims to protect it's users by 2029

"My confidence in q-day by 2032 has shot up significantly," Drake, who joined the paper as a late coauthor, wrote on X. He estimates at least a 10% chance that a quantum computer recovers a private key from an exposed public key by that year.

 

[dirtywick]

https://ourcryptotalk.com/news/drift-protocol-hacked-270m-solana-defi-exploit

meme coins take huge blow as solana dex drift lost $270m in a hack, second largest in history somehow.

Drift Protocol, a major Solana perpetuals DEX, lost an estimated $200M to $285M in a sophisticated exploit on April 1, 2026, making it Solana’s biggest DeFi hack since the 2022 Wormhole bridge incident
The attacker spent three weeks creating a fake token (CarbonVote Token), manipulating its oracle price on Switchboard, then used a compromised admin key to list it on Drift and drain nearly 20 vaults in just 12 minutes
Stolen assets include 66.4M USDC, 42.7M JLP, large amounts of JitoSOL, wrapped BTC/ETH, stablecoins, and various Solana tokens, with funds already being bridged to Ethereum

 

[jeremyp]

You don't need to be all that tech savvy to be aware that an unencrypted walled stored on an unprotected computer can be stolen.

No you don't but crypto wallets still get stolen. Even quite intelligent people have fallen victims to such scams.

Many people get scammed in many ways (not just crypto) because they fail to follow some simple rules such as Never click on a link in an Email sent by somebody you don't know and trust or never install software provided by somebody you don't know and trust or . . . (I'm sure that you can add to this list).

That's all true, but it still happens.