Is your money safe?

117 857
Avatar for Read.Cash
3 years ago

We've got quite a few articles and comments from people that seem to assume that if somebody stole your password they would automatically get your money. Even @Telesfor , who is generally pretty well-versed in these things seems to this so.

This is not true.

To get your money a thief needs access to your seed phrase.

Having just your password is not enough.

Don't believe me?

Let's see. I've created an account @NoSeedNoMoney .

This account has about $200 in balance.

And here:

You can even check the block explorer:

https://explorer.bitcoin.com/bch/address/bitcoincash:qzwjq2d77t9le4cv63ssahx9y09a4mhrhvwwxhcuj3

I should be careful to protect my password from thiefs, right?

Keep my password, which is 123verysecret for the account NoSeedNoMoney a total secret, right?

Ooops...

Did I just tell you my password?

I surely did.

Don't get it?

Let me try again:

My login: NoSeedNoMoney
My password: 123verysecret
Balance: ~$200

First one to take it gets to keep it!


EDIT (24 hours later): Even with password right in the open, nobody was able to steal the money, we returned it to where it originally came from via this transaction. Someone even decided to change the password :) that still didn't help to steal the money. Your money is safe, unless a) somebody has physical access to your computer; b) somebody has access to your seed phrase; or c) your computer has a virus, so that hackers have full access to it.


But you won't be able to take it, since only my device has the seed phrase.

My account at read.cash (which is what my password protects) doesn't have that seed phrase, so if you try to login with my password, you will be notified that your device doesn't have a seed phrase associated with this account.

That means that if somebody stole your money, then one of the following is true:

  1. The thief bot access to your computer/mobile phone and sent your money from your device;

  2. The thief got access to where you store the seed phrase;

  3. You have a malware or virus that gives hackers access to their device (sometimes that can be a application that gives you free money or free services, like most of free VPN services, or "phone mining" apps - ask yourself why would a company give you something for free that they normally sell? What do they get in return?)

Ok, so if read.cash is so secure, then why do we keep telling people not to keep more than $20 in their online wallet?

Easy. Because even the biggest companies are vulnerable to server hacks. If hackers got to our infrastructure (it's hard, but even the biggest companies fall victims to this), then hackers could potentially replace the wallet code from an honest wallet that we have to something like "When a user logs in, just send all money to my account using user's seed phrase". So far, that has not happened, but to protect you from that risk we ask you not to keep big amounts in your online wallet or accept the risk.

But frankly, it's possible even with a phone app or a desktop app. You don't know what code is there and let's be honest, even if you had access to the code, you have no idea how to review it. (Ok, some of you know, but they are less than 1% of all people) So a wallet developer on a rampage could just as easily replace their honest wallet code with "send all money to us, ok, thanks bye!" and the next time you open your wallet on your phone - there's $0.00. So far that hasn't happened either, but it's possible too.

As for @Sarahmay article

@Sarahmay published an article that somebody took the money.

She claims that this transaction was not made by her.

She's right. She didn't do that transaction, because it's a transaction were somebody sent her $0.01 as a tip:

If you have questions like this, please don't write articles starting a public panic, but email us at hello@read.cash instead.

And, dear @Broker you get a personal downvote from us for trying to capitalize on the panic that has no reason:

But read.cash sooner or later has to take up steps to make its wallet more robust and hack proof.

Dear @Broker , we took a lot of steps to make our wallet secure, we have thousands of users to confirm its security. You can confirm it yourself - login with the password we provided above and enjoy the security.

Unless you have a virus or a thief with a physical access to your device or your seed, your money is safe.

Don't spread the panic. And don't forget to keep your seed words secure. If you lose them - we won't be able to help you. Your money will sit forever on the blockchain, just like these guys.

EDIT: Some people opened the account and even commented below. The money is still untouched.

UPDATE: The money was eventually found, nothing was stolen.

162
$ 2.26
$ 0.54 from @MintDice
$ 0.53 from @Telesfor
$ 0.50 from @Cain
+ 7
Sponsors of Read.Cash
empty
empty
Avatar for Read.Cash
3 years ago

Comments

GET RICH WITH BLANK ATM CARD, Whatsapp: +18033921735

I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich. {DARKWEBONLINEHACKERS@GMAIL.COM} I email them also and they sent me the blank atm card. I have use it to get 500,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

You can also contact them for the service below

  • Western Union/MoneyGram Transfer

  • Bank Transfer

  • PayPal / Skrill Transfer

  • Crypto Mining

  • CashApp Transfer

  • Bitcoin Loans

  • Recover Stolen/Missing Crypto/Funds/Assets

Email: darkwebonlinehackers@gmail.com

Text & Call or WhatsApp: +18033921735

WEBSITE: https://darkwebonlinehackers.com

$ 0.00
1 year ago

passionate in life speculating in bitcoin cash investment

$ 0.00
2 years ago

thanks

$ 0.00
2 years ago

people who love to point fingers take advantage of situation like this. I salute patience of you guys if it was someone else they rather would not reply such a thin on public forum and could've ask user to contact support . Thanks for your caring advice I already have a lessons that I learnt from what happened to me..

$ 0.00
3 years ago

I had 100$+ in this wallet for more than a week , It is impossible to hack into it, More could happen is some one steal my password use new phrase in his browser and can edit some of my articles to get "New tips" in his wallet Lack understanding of technology create fuss like this. And people who love to point fingers take advantage of situation like this. I salute patience of you guys if it was someone else they rather would not reply such a thin on public forum and could've ask user to contact support . I think this rule should be implemented about situation like this like "contact support for issues rather creating article begging for it" I read whole comments and article yesterday. Let me tell you all from my personal experience, There are ethics of every work place and some ethics are common sense, If this is a work place for you behave like one . You don't start campaign against office management for your misunderstanding with out talking them first , IT will get you fired from any company and doing things like this will only result in decrease of respect in other colleagues of yours. For this situation I will be more careful for my upcoming things and will remember who is like what and could create problem.

$ 0.00
3 years ago

I'm so sorry about this post, I'm not blaming readcash I know I'm wrong for doing this without contacting them though their email. I'm in a panic situation that time and I don't know what to do. That's why I made this article. I just need an answer from others that also have this kind of issue. I already said it to readcash that I'm not blaming them. Please 😭 I really feel bad about this 😭😭😭

$ 0.00
3 years ago

It may not be safe in an entirely different way. You guys have a bug. I tried boosting a post twice. It sent the money and never activated the boost or deposited the funds so I lost $3

$ 0.00
User's avatar scottcbusiness
This user is who they claim to be.
We have manually verified this user via some other channel.
Proof
3 years ago

Any technical problems - send us an email to hello@read.cash, especially about things that didn't work as expected. Public comments are unsuitable for this.

$ 0.00
3 years ago

I mean if there's a bug that makes people lose money when they try to boost, I think it's worth cautioning people. I replied to the email sent.

$ 0.00
User's avatar scottcbusiness
This user is who they claim to be.
We have manually verified this user via some other channel.
Proof
3 years ago

this helped me understand the seed phrases a little bit more... i get the big picture idea of it, but not each individual part you know? anyway its enough for now to keep me secure thanks!

$ 0.00
3 years ago

Вы должны согласиться что для профи хакеров 200$ это не показатель для рисков :)

$ 0.00
User's avatar Dmi
3 years ago

By the way, I did not open my account for a week only to come back and find out my money reduced drastically, what could be the course

$ 0.00
User's avatar Ify
3 years ago

You don't have "money" in your "account," you have Bitcoin Cash (BCH) in your "wallet." For instance, my account says $0.35 right now, but that simply represents what the BCH in my wallet is currently worth. In reality, below that number, it shows that I have .00128202 BCH. The most likely explanation is that the exchange rate changed since you last looked. However, as discussed in this article you are replying to, you can look at your address in a block explorer to see if there were transactions.

$ 0.00
3 years ago

Infairness , you did a great job🥰🥰 More power read.cash.

$ 0.00
3 years ago

Informative....

$ 0.00
3 years ago

Thanks for this article really educative

$ 0.00
3 years ago

Thank you. This is an assurance that our money is well protected.

$ 0.00
3 years ago

Thank you for this information.

$ 0.00
3 years ago

Here's one of the multiple reasons I love this platform is that they update you on every thing you need to know. The security of one's funds here is guaranteed unless a loophole comes from a user by not handling his/her seed phrase secret. Thumbs up to @Read.Cash

$ 0.00
3 years ago

I saved this article, read it later, it's so important.

$ 0.00
3 years ago

This is a very informative article that informs the users. We can be sure we are safe. Thanks read cash!

$ 0.00
User's avatar Jim
3 years ago

Why do I feel guilty all of a sudden? Is this because I posted my topic or is it because of @G3ni3r4L that the security of the wallets used are brought up?

$ 0.00
3 years ago

Very informative. Thank you! This lessens our worries.

$ 0.00
3 years ago

This is a great way to prove the point!

Again and as always read.cash, you have gone to extra mile to safeguard our community.

Thank you.

$ 0.00
3 years ago

Our money is well protected. Thanks read.cash more power!.

$ 0.00
3 years ago

You should always keep check for the seed and every browser has a their own wallet address so once you delete your browser probably it would be lost and generate another wallet address even you put your seed phases

$ 0.00
3 years ago

No, the same seed phrase always leads to the same wallet address. You can easily import your seed phrase to any number of devices, wallets, etc... and have the same address on all of them.

$ 0.00
3 years ago

When I try it. It generate another wallet and my balance was lost. I tried to put my seed but it shown that it always zero balance and when I saw it. It has a different wallet address. That is my experience

$ 0.00
3 years ago

Make sure to use the same derivation path too. It works, I can assure you about that. I personally have the same balance on two devices.

$ 0.00
3 years ago

Ow I see maybe I've confuse on Derivation path so that leads me for another BCH wallet. Thanks for being an informative always.

$ 0.00
3 years ago

Go to "Backup your seed phrase" and you'll find your derivation path there.

$ 0.00
3 years ago

Nice post man 😂😂😂

$ 0.00
3 years ago

Thanks! Got to the money yet? 😉 (Yeah, we'll have to delete that account eventually :) )

$ 0.00
3 years ago

Hahaha nice replying to yourself, bruh. But, thanks for the update, it takes away our worries.

$ 0.00
3 years ago

Thanks for reassuring us and making things clear here!

$ 0.00
3 years ago

Thank you @read.cash for clearing doubt. You always did great job

$ 0.00
3 years ago

Well explained. I have personally tried to login in my PC before, but I was requested to put my seed phrase because I used my phone to register. Read.cash is highly secured and it's obvious even to the blind to see.

$ 0.00
3 years ago

Thank you for making us feel safe for the money we earned

$ 0.00
3 years ago

I knew it, telesfor is one of them. He said he is not one of them but i think he is legit scammer. He always, makes conflicts to the other articles. 🤔 I also recieve a tip from someone. But thank you i dont take an action for this ahaha i know it an scam alert. 😊 Be aware of this people

$ 0.00
3 years ago

Wow.. Thank-you for this we can sure that our earned is always safe😊 trusted #earningsite #Read.cash😍

$ 0.00
3 years ago

Very well said.. now i know my money is safe.. good job again Readcash..

$ 0.00
3 years ago

Thanks man , its a great info.

$ 0.00
3 years ago

I figured no one would ever get my coins without my seed. But it's good to know that our username/password is not tide to our seed. Keep up the good work!!

$ 0.00
3 years ago

Yes this is true , I'm almost 1month here but I did not lose my money

$ 0.00
3 years ago

Thank you for this, Now there's no worries for me

$ 0.00
3 years ago

I liked this. Keep it up with this energy and community engagement.

$ 0.00
3 years ago

Thanks read cash ..

$ 0.00
3 years ago

Thank you read.cash very informative article.

$ 0.00
User's avatar Jaz
3 years ago

Thank you read cash for sharing..

$ 0.00
3 years ago

I also experienced that my balance will decrease sometimes and sometimes increasing, when someone upvoted me for example $.50 I only recieve .45, so I assume that the 0.05 is something fee for an upvote? I'm not sure of this but I read it from ralak that it seems like that so I didn't make any fuzz about it.

$ 0.00
3 years ago

You should read the affiliate programme. 3% from your upvote is distributed to your referer and read.cash fund.

$ 0.00
3 years ago

I like how @Read.Cash is taking these issues and making it clear to everyone.. also very fast in giving good information.

$ 0.00
3 years ago

So the password is for the account on read.cash and the seed phrase is for the underlying BCH wallet right? How are these 2 linked? Also in that case couldn’t you just do away with the password then and just keep the seed phrase? Probably too long to remember?

$ 0.00
3 years ago

I think read.cash is safe.

$ 0.00
3 years ago

As I said earlier, big organisations that have invested huge amount of money in security are vulnerable to hacking. This not to say @read.cash is not meticulous enough in terms of security. Users really need to be careful with who surround us, they could steal seed phrase and tamper with funds.

$ 0.00
3 years ago

Yes true your money is safe in read cash almost 1 month here I did not lose my money. Super safe.

$ 0.00
3 years ago

If you don't have your seed phrase( private key), you don't own the coin.

$ 0.00
3 years ago

Yeah, sure. Crypto is actually safe until you do no disclose or lose your pass-codes. And definitely we should not write an article about this type of situation, we should contact support team. Such type of articles will creat trust issues to newly joined members and also non-members of the platform.

$ 0.00
3 years ago

Outstanding! Love the article and the real explanation about the embedded security. Putting money on the line to prove it is simply icing on the cake!

Well played sir! Well played.

$ 0.00
User's avatar M.Rosenquist
This user is who they claim to be.
We have manually verified this user via some other channel.
Proof
3 years ago

Nice article. That's what I was wondering how did someone can make a transaction without getting the seed phrase.

$ 0.00
3 years ago

Only calm can save us :) Well written and very useful article!

$ 0.00
3 years ago

Something that all of us must be aware is that our device secure our seed, the unique way to someone steal our money is to directly have possession of it, meaning he need first to have access to our device and login details to access read.cash and transfer money to his account, more things are just blah blah blah, and please guys first we need to know how a wallet works first before making a complain...cheers🙌

$ 0.00
3 years ago

Unlike everything else I think that part is safe.

$ 0.00
3 years ago

I don't know what is happening here . But I also didn't lose any of my money yet . And I think this is just a coincidence. But, If there is no fire then where the smokes are coming from. Right? So ,we should be more careful I think. And if the thief has guts, then accept the challenge and proof @read.cash wrong.

$ 0.00
3 years ago

Thanks for making sure that our money is safe

$ 0.00
3 years ago

So far I didn't lose any money here.

$ 0.00
3 years ago

You cannot even get money from your 2nd browser in your mobile except the seed phrase! Everytime I try to login from another browser,it ask for seed phrase. If I cannot provide seed phrase,it creat another wallet where the balance become 0$. So How can someone steal my money?? That is so foolish.

$ 0.00
3 years ago

Thank you for the explanation and apologize that I have spread false information here. I didn't know that the wallet is so secure. I didn't tried to login myself with my password on another device to see the seed. This is a lesson for me to refer to you next time when user will have such special problems

$ 0.00
3 years ago

I hope the issue with funds security is now crystal clear to others with this article hehehe.. I'm not trying to log in the new account. I know it'll make no sense for me hahaha... save it for the others to try haha

$ 0.00
3 years ago

People shouldn't be making careless comments just like the case of the broker. I guess he deserves that downvote because of his comment

$ 0.00
3 years ago

Even when i lost access to my older account due to forgotten password i was still able to get my money because i have my seed words integrated with bitcoin.com wallet. I believe all that read.cash has stated here.

$ 0.00
3 years ago

Yeah, that's true. Without seed words, no one can not use my account. If I try to open my account in other browser, I also need seed words. Seed words very important for the Read.cash site.

$ 0.00
3 years ago

Good job and security given by read.cash

$ 0.00
3 years ago

Thank you for the reassurance read.cash. I also believe that our wallet is safe as we keep the seed phrase.

$ 0.00
3 years ago

As crypto users, we should always security as the primary issue and be watchful against malwares. Do not dowload apps claming that they will mine token for you without doing anything etc. Majority of them are viruses. Take your own precautions dear mates.

$ 0.00
3 years ago

Thanks for your caring advice I already have a lessons that I learnt from what happened to me..

$ 0.00
3 years ago

Thanks for the explanation and efforts in making it a safer place for all of us .

$ 0.00
3 years ago

I really like the way you explain how Read.cash works by answering to users in a direct style.

I have also added this article to my synthesis article to keep it the most relevant for news (and old) users.

I have also noticed that boosting seems to grow fast, as I noticed the average price by click is now much higher than the first time I boosted one of mine. I think you really made the good choice by developing boosting and sponsoring.

All my support.

$ 0.00
3 years ago

I'm really tired of repeating this, but if you have a question - email hello@read.cash, not write articles about it. You either need help or publicity.

$ 0.00
3 years ago

Understood. Please accept my apologizes, I will send you an e-mail.

$ 0.00
3 years ago

Thanks for the reassurance..I believe you!!

$ 0.00
3 years ago

I know that my money is safe here in read cash because the security here is very tight.

$ 0.00
3 years ago

Thank you so much 😭 You confirmed that it wasn't me who transact the withdrawal. I'm sorry if I do panic but now that you give us email account to message if there is something that we want to ask is more helpful. Thank you so much again 😭 I maybe still can't move on but I will because i loved to write and this platform has a lot of help to me although It's been 3 weeks that I used it. It gives me help to buy groceries on my workplace using points that I earned here. I'm very grateful that I'm part of this platform you know it because I always submit my articles to readcash community when I feel very inspired and motivated.

$ 0.00
3 years ago

Again, it was not a withdrawal, it was a deposit. Somebody sent you $0.01. That was the transaction that you didn't make, because someone else did send you $0.01

$ 0.00
3 years ago

I lost my earnings last night when readcash payment sent to me. That's the issue I'm asking for answer. It was small amount but it has a value. That I could buy food for my family.

$ 0.00
3 years ago

All of your withdrawals go to one address (which I guess is your Trust Wallet, like you told @Telesfor): bitcoincash:qr7947mueva4s4ktsl9pfn9lch6rvju3s5mwcyymdc

You can check your history yourself: https://blockchair.com/bitcoin-cash/address/qzvsg4pflmdtl2p2da6qv8ult7d50vecx569jkngwq

Again, the transaction that you show us is a deposit - somebody gave you money, not took it from you.

Nothing was stolen, nothing was lost. The blockchain is public and anyone can check it.

$ 0.00
3 years ago

You both didn't understand me. I thought you both now understand. I'm not doing that transaction 🤦🏼‍♀️ That's why I did an article 😭 I already post my proof history of my trustwallet. I only consider it as a system error.

$ 0.00
3 years ago

If you say you didn't make the transaction, I believe you. The important thing is that the transaction went into your trust wallet and not somewhere else. You didn't lose the money.

$ 0.00
3 years ago

If I may suggest, dear @read.cash, would it be possible to have a transaction history? For tips and withdrawals? So much so there would be clearer overview of the transactions made by a user? If it may be considered.

$ 0.00
3 years ago

Connect your read.cash wallet with the bitcoin.com wallet, as I described here: https://read.cash/@Telesfor/how-to-integrate-readcash-wallet-into-bitcoincom-wallet-80747c24 You will see your whole history.

$ 0.00
3 years ago

Aww.. i hope everything will be alright and you can withdraw it

$ 0.00
3 years ago

Yeah I found it ❤️ Thanks to @read.cash for the help.

$ 0.00
3 years ago

The $0.01 deposit is from my favourite author telesfor. Please take a look if i do received the payment from readcash? And if someone do the transaction on the same day and time.

$ 0.00
3 years ago

read.cash never pays you, unless I personally tip you. Donors to the fund pay you directly from their own wallets.

So, the interesting thing is that you do have two wallets registered on your account: one is qzvsg4pflmdtl2p2da6qv8ult7d50vecx569jkngwq (which is what you use right now) and another one qp5dh9pqqzxechj96r0q04k6h26s88x6puwcenmyz5, which you (or someone with your password) used just before the payment from the fund on that day, so the payment went to that wallet and still sits there unspent. https://blockchair.com/bitcoin-cash/address/qp5dh9pqqzxechj96r0q04k6h26s88x6puwcenmyz5

Did you open the site in Incognito/Private window? From another device? Another computer, mobile phone? Does anybody know your password? Is it written somewhere, where somebody could have read it? Did you visit somebody and log in from their computer?

Because it's the only way. When you open a site from a new device and generate a new wallet - we'll automatically send money to that wallet from now on, until you log in from your original wallet - then we'll send it back. But we really need to add something like "+$1.01 in other wallets" to the dropdown menu.

$ 0.00
3 years ago

Here @telesfor please read.

$ 0.00
3 years ago

No I only use chrome. I don't know what kind is that ingocnico. See? Someone stole it 🤦🏼‍♀️😭

$ 0.00
3 years ago

I can't tell what happened, because all we know is that you or somebody else created another wallet and money went there. But money hasn't moved since then, so it suggests that it wasn't stolen.

$ 0.00
3 years ago

You still don't believe me? Though I have proof that was not me? You already said that It looks like someone use other site for accessing it and it called ingocnico right? And you also asked me if I use other devices, I answered, No. Because I only have one phone.

$ 0.00
3 years ago

Incognito/Private mode is not somebody, it's when you click "New private window" or "New incognito window". I mean it's pretty stupid for someone to steal your password and not move your money, that's why I still think that there is something that you did and missed. Maybe you cleared cookies, maybe opened incognito window, maybe something else. I don't need to believe you or not, because for us the important question is only was it read.cash's fault? The answer is no.

$ 0.00
3 years ago

Yes, I know readcash has no faults about this. Im just felt really sad because of this. I feel like I'm a liar. 😭😭😭 Because I already told all of you that I didn't do what you said 😢 It's all fine now. I think I just need to moved on. Because its already happened.

$ 0.00
3 years ago

was it read.cash's fault?

well, it was your decision to design the system to be hackerproof and as unintended consequence it is now not proof against user error.. Please consider doing "1 acount = 1 wallet" + 2FA

$ 0.00
3 years ago

Don't bother about it. I found my lost earnings ❤️ I did research when read.cash said about another window tab. 😇

$ 0.00
3 years ago

But I remember I signed up to memo.cash that recommended @scottsbusiness before the readcash payment sent to me. Is it coincidence? I did sign up using same username and password here. I'm not continuing to that memo.cash because after I did a sign up It shows that I need to pay 0.01 bch as I remember then they give me option if I don't have bch to pay them to install some application. But I didn't install it. I just already sign up.

$ 0.00
3 years ago

It's probably a coincidence. Memo is a legitimate website that I've been using for two years. It's not a faucet and it's not a scam. You haven't lost any money. It's all good.

$ 0.00
3 years ago

Readcash has an answer about this. He asked me if I use other devices or ingocnico. I will mentioned you there.

$ 0.00
3 years ago

Thank you. The most important thing is that we now know that read.cash Wallet is safe and that you have not lost your money. Then you learned that you should not use the same password on several websites. You also know that Memo.cash and bitcoin.com are legitimate websites and wallets.

$ 0.00
3 years ago

this system is too complicated and prone to user error, also difficult to login from multiple devices. Please consider doing "1 acount = 1 wallet" + 2FA

$ 0.00
3 years ago

I think if we read the posts about read.cash rules and then we know every detail and we can know the detail about seed phrase and how secure an account in read.cash as they are very nicely explain iy in their posts.

$ 0.00
3 years ago

Thank you for sharing some info!

$ 0.00
3 years ago

That great

$ 0.00
3 years ago

I will rather panick if i got $200 from nowhere😂.. I trust read.cash so much . I forgot my first password before and i cant find my seed words i thought i will never access my account again but because of guide of read.cash here i am again im earning at read.cash😊😊😁

$ 0.00
3 years ago

Morning read cash🙃

$ 0.00
3 years ago

Oh ok . Thank you for your advice

$ 0.00
3 years ago