Bitcoin Horror Stories
The first 10000 bitcoins over two pizzas on My 22, 2010 by Laszlo Hanyecz at Papa John’s pizza restaurant. Back then it was worth $40. Currently they are worth 586 014 000 at the time of writing.
James Howells in 2013 lost 7,500 Bitcoins now worth after disposing the hard disk with private keys by mistake. At the time of writing 7,500 Bitcoins are worth 439 510 500.
Ross Ulbrit lauched Silkroad on the darkweb. The website used Bitcoin and was shutdown in October 2013 and 144.336 Bitcoins where seized. At the time of writing this is worth 8 458 291 670.
Stefan Thomas an engineer forgot the password to hid encrypted hard-drive holding 7.002 bitcoin. He lost the paper which had the password. Ironkey users attempts have only 10 attempts and the contents are encrypted forever.
Gerald Cotten CEO of Canadian exchange Quadriga allegedly died in India 2018 while an orphanage. He was the custodian of the exchange crypto store held in cold storage. He kept the password on an encrypted laptop which no-one unlocked since his death. This lead to over 115,00 coins of users being lost. 430,000 Ether, 200,000 lite-coin, 11,000 Bitcoin cash, 26,5000 Bitcoin. The Canadian securities regulator OSC found that Quadriga was a fraud.
64 million was stolen by Hackers from Nicehash market place. The Slovenian-based mining market place hackers where highly professional with sophisticated social engineering which resulted in 4,7000 bitcoin stolen.
Davyd Arakhmia lost 400 Bitcoin. He had a business which accepted Bitcoin payment and he lost the private key after deleting the encryption file in his harddrive freeing up space and deleted it along with movies.
Reddit user TomokoSlankard lost his seed phrase used to keep his Bitcoin locked away. The hackers got into his server which he stored the code taking his 33 Bitcoin which he raised from USD20,000 worth 33 Btc then now worth Millions.