Bitcoin Core Dev HACKED For $3.6 MILLION in BTC!
Bitcoin (BTC) developer, Luke Dashjr, announced on New Year’s day a cry for help on Twitter, explaining how his PGP key was compromised, leading to the theft of multiple Bitcoins (BTC) from his hot wallet.
The hacker didn’t spare the controversial Bitcoin Core dev, who allegedly lost more than 200BTC ($3,5 million) from his hot wallet because of this incident.
Luke Dashjr provided addresses that outline the alleged damage sustained and followed up with multiple Tweets that raised more questions regarding the incident.
Luke Dashjr still has no clue how the hack transpired, but he followed the route of funds and tried to notify authorities while the attacker attempts to obfuscate his trail.
We all denounce theft and wish Luke Dashjr to get his Bitcoin (BTC) back. Everyone values individual property and what matters is no theft goes unpunished.
Still, the plead to the FBI sounded suspicious to many that shared their thoughts and similarities regarding crypto whales losing their crypto wealth due to similar massive hacks or even… boat accidents!
We have often heard about boat accidents and how so many BTC whales suddenly lose their ledgers and private keys.
Luke did well to publicize the theft as the community can act, but it appears he did not convince the public, who is rightfully vigilant lately, especially right after the FTX collapse.
People will ask the real questions today:
A better question would be how this will reflect on Bitcoin (BTC), when one of its prominent developers, the person with control over the BIPs, got hacked and lost hundreds of Bitcoins (BTC).
While there are plenty of comments on Twitter considering the odds this was a staged event, Luke Dashjr presents a different perspective:
It seems that Luke Dashjr suspects the FBI might be involved in this hack, mentioning the sophisticated approach the hackers used but not sharing details regarding this assumption.
Blockstream co-founder Luke Dashjr, a Bitcoin Core developer and editor (controller) of Bitcoin Improvement Proposals (BIPs), blamed this hack on Bitcoin Knots, a software implementation for Bitcoin similar to Bitcoin Core.
While nine implementations are available, one alone (Bitcoin Core) controls 97% of nodes. The purpose is defeated.
This pie chart should raise questions about the single party controlling Bitcoin (BTC) developments.
Meanwhile, the mining map of Bitcoin (BTC) did not drastically change.
Weekly Hashpower — 02/01/2023 (Source)
Bitcoin’s (BTC) hashrate is concentrated by 75% in four major pools, with two of them (Foundry, and Antpool) controlling almost half of BTC’s computing power.
There are multiple reasons the crypto “industry” is perceived as a circus today.
One of the reasons is the lack of acountability by those supposed to be the top spokespeople of cryptocurrency.
In short, CZ offered to help Luke by freezing any of his BTC reaching Binance, but in reality, this offer was hollow since CZ can’t freeze stolen coins belonging to someone living in the US.
According to CZ, Binance.com can’t serve US citizens.
Thus, he can’t help Luke Dashjr either but will have to ask for legal advice if he were to proceed with his promise.
In September 2017, with Bitcoin in the middle of its parabolic uptrend having reached $4000 (x20 from a year ago), Luke’s home suffered damage from a hurricane.
It was strange to see a wealthy Bitcoin OG and BTC dev needed fundraising for damages by hurricane Irma to his already-insured home.
Luke does have home owners insurance, but it’s unsure how many of the claims will be approved and there’s a deductible of nearly $5,000.
A fundraiser that also raised many questions:
Anyway, the fundraiser collected nearly $5000, yet immediately Tuur Demeester started a second one, asking for $12,000 this time, so Luke could also get a fiber optics connection:
There’s a lot more in this story, and we all wish Luke Dashjr to get his coins back.
The crypto market is plagued by hacks and scams. Theft is unacceptable.
Usually, the targets are crypto exchanges, however, always an inside job is the most probable cause in these examples.
Still, it is rare to see a Bitcoin dev getting hacked and losing a significant amount of BTC which translates into a multi-million dollar loss.
Perhaps for security reasons, Dashjr didn’t explain why he held so much BTC in a hot wallet and how exactly the compromise happened.
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