News

Turkish Investor BTC Lost by $ 170,000

Owners of cryptographic wallets that do not have a proper backup, if you have not done anything to secure your wallet and recovery key, big losses may be waiting for you. For a moment he lost his wallet and password recovery information investors lost $ 170,000 in Turkey.

Kerem Albayrak lost his wallet information in the shop he went to replace his current computer with another computer. She forgot to store or copy the wallet information securely in a hurry. When you notice this, the computer is already formatted and all the information has been deleted. He says:

Im My wallet had just been transferred onto a blockchain wallet created on the iMac, and I had an accident with an offline wallet. I've created an automatic password without iCloud to back up the key chain. When I created the password, I got a screenshot of the recovery at the iMac, but now I've lost it. Par

Kerem Albayrak explained this sad event in detail to Reddit. When you lose the password, your entire accumulation is gone because the wallet manager does not store this information, nor does he have access to the wallet.

If money is sent to a wallet address that is incorrect or in fact absent, then the money is permanently lost unless the party receiving the money is politely treated and returned. Especially if you have great savings like Albayrak, you should pay attention to such cases about wallets. His advice to cryptosaurs:

. It's not a joke, you don't understand until you experience what you might have. Copy backup codes and secure your wallet, it's not a good feeling that I live. Even the event here is not to lose my 170bin, but to lose the wallet in which is so bitcoin. There you can see the wallet but you can't use it. It's the most annoying part of me seeing the price rise. Fiyat

According to an assumption of 2017 by Chinalysis in 2017, $ 30 billion worth of BTC May be lost forever. More than half of this money is thought to be lost or misrepresented. Whether this is a warning for bitcoin and other digital asset owners, secure your wallet information properly to avoid losing money.

Source: Zycrypto

Up Next

Is Ethereum Price Lower?

Don't Miss

Paypal Launches Blockchain Based Reward System for Employees

Selin Üstündağ

Click to comment

Industry News

SEC Accuses 5 Insiders of BitConnect for Illegal Promotion

SEC, Yasadışı Tanıtım’dan BitConnect İçerisinden 5 Kişiyi Suçladı

About the five people at BitConnect SECIt said it “violated Federal Securities laws.”

The SEC's complaint is that “persons who support the BitConnect Program are sold without registering the Securities with the Commission and registering as a broker-dealer with the Commission as required by law.” BitConnect's lending program is said to encourage people to invest in potential investors, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble, by creating promotional-style videos and posting them on YouTube. It is also claimed that some YouTube channels that make promotions are paid on a commission basis in return for their promotional efforts.

Shortly after his release, Trevon Brown (better known as Trevon James) posted a tweet saying he didn't deny the charges and said the community would "rally" around him.

Real crypto OG's will rally around me.

The real ones that know the truth, and what happened from day 1.

Talk to you guys soon.⏳#FreeTrevon

— Trevon James, Founder of our.glass Crypto (@BitcoinTre) May 28, 2021

Lara Shalov Mehraban, Deputy Regional Director of the SEC's New York Regional Office,

“We will try to hold accountable those who make illegal profits by taking advantage of the public's interest in digital assets”

said.

To be the first to be informed of the most important crypto money news and price analysis: You can follow us at Telegram!

Bitcoin News

Who Has The Most Bitcoin (BTC) Savings?

Bitcoin Analizi, Bitcoin 5.700 Doları Geçti!

According to the research result, the Winklevoss twins own 150,000 BTC, but there are names that own more Bitcoin than them…

Blockchain Center, which investigates who owns the largest amount of Bitcoin (BTC); From Winklevoss twins to scammers, from hackers to "zombie coins", he laid out all the data.

On the other hand, the most famous hacking case of the cryptocurrency world, Mt. Gox incident allegedly owned 166,000 BTC.

It is claimed that 30,000 BTC seized from the Silk Road scandal is in the hands of Tim Draper.

Plus Token scammers were said to have 200,000 BTC.

On the other hand, “Zombie coins” are surprisingly plentiful. These tokens we are talking about consist of 1.5 million BTC, which will never be used and will not be spent by anyone forever.

Grayscale's Bitcoin Trust is known as the largest institutional Bitcoin investment vehicle and currently holds over 400,000 BTC of liquidity. Lightning Network only holds 1,000 BTC, while Ethereum (ETH) has another 80,000 BTC locked.

Another 2.5 million Bitcoins are expected to enter circulation over time. Time will tell which other names will be included in this list.

To be the first to be informed of the most important crypto money news and price analysis: You can follow us at Telegram!

Blockchain News

National Fisheries Institute and IBM's Blockchain Tracking System Food Trust

Ulusal Balıkçılık Enstitüsü ve IBM’in Blockchain Takibi Sistemi Food Trust

The United States seafood trade association, the National Fisheries Institute (NFI), is working with Food Trust, IBM's blockchain supply chain solution, to monitor FoodOnline's reports on June 11 seafood and food-related news.

In the report, they mentioned the new system for monitoring the type of seafood jointly carried out by multiple companies. In addition, NFI members representing harvesters, importers, cold storage, food service restaurants and retail sales were also included in the program.

IBM's Blockchain Tracking System Food TrustSIRF President's Statement

The project is funded by the Seafood Industry Research Fund (SIRF), whose chairman Sean O'Scannlain said in a statement on developments:

“The tracking system is nothing new to the seafood industry, but we'll test how blockchain is a new concept, with IBM's Food Tracking system, helping seafood businesses earn revenue and reduce costs to customers from harvest to distribution.”

The system also states who can access and how long companies can control data, and who will retain control after the chain is loaded. Raj Rao, IBM Food Trust general manager Food Food Trust can change any sector, especially when we have large ecosystems, businesses and organizations ” He said.

To be the first to be informed of the most important crypto money news and price analysis: You can follow us at Telegram!

Source: Cointelegraph