While mentioning on Twitter, an individual mentioned his story how he apparently fell victim to a crypto phishing attack. Within his video that has since caught the attraction of several crypto enthusiasts, Eric Savics said that he lost 12 Bitcoins within the attack that has now halted his dream of shopping for his own apartment.
Eric posted the video on twitter in an attempt to help him in recovering his lost bitcoins. Consistent with him, his 7-years of hard work is now up in smoke. Eric goes on to appeal to whoever stole his Bitcoin to think about returning a little portion so he can at least start from somewhere in rebuilding his portfolio.
Like many of us who might share his sentiment, Eric isn’t much of a technical person, as he admits. The phishing attack was orchestrated via a malicious version of his hardware wallet.
Moreover on the brighter side, the victim is getting support from the community – including the Binance CEO, Changpeng Zhao. The CEO even promised to direct his team to blacklist the addresses to which the Bitcoin was transferred. Details of the fraudulent transactions can be found here, along side the receiving address.
Dark Side Of Crypto Industry
It’s not the primary time that reports have emanated of individuals losing their holdings in cryptos to scammers and other technical attackers that mostly feed on the technical ignorance of their victims. However, it’s notable that attackers aren’t just targeting individuals. a couple of exchanges, including Binance itself, have suffered attacks over the previous couple of years.
Granted, exchanges along with the makers of hardware wallets have stepped up their game in securing crypto assets.
While the reaction to Eric’s story is one among empathy, especially considering Binance CEO’s offer to blacklist the receiving address, it does raise the question of censorship.
For one, cryptos have managed to win hearts by offering a free economic system with zero government interference, and now the exchanges’ ability to dam specific address will fuel fears that, within the future, governments might start ordering them to blacklist target-specific address – which will trample privacy and financial freedom that cryptocurrency fans have loved for years.