An unfortunate investor posted his story on Twitter for help after he fell victim to the phishing attack. In the video, which attracted the attention of many cryptocurrency enthusiasts, Eric Savics said he lost 12 Bitcoins he had accumulated for his dream of buying a house.
Bitcoins (BTC) Stolen with Phishing Attack
Eric posted the video on Twitter in the hope of reaching his lost BTCs. Eric said that his 7 years of hard work accumulated was steam, and that he wanted some to be found to rebuild his portfolio.
The investor also stated that he did not have much technical knowledge. Apparently the phishing attack was organized through a malicious version of the hardware wallet. The victim received tremendous support from the community, including Binance CEO Changpeng Zhao. The CEO promised to blacklist the address that BTC was sent to.
The Ugly Side of the Crypto Money Market
This is not the first reports that people lost their crypto assets to scammers and other technical intruders, who mostly hunted their victim’s technical ignorance. However, it is noteworthy that the attackers did not only attack individuals. Over the past few years, many exchanges have been attacked, including Binance. Such attacks reveal the dark side of the cryptocurrency.
Crypto and Censorship
While the reaction to Eric’s story was sympathetic, the issue of censorship came up again, especially considering the offer by Binance’s CEO to blacklist the recipient’s address.
Cryptocurrencies managed to win hearts by offering a free financial system with zero government intervention. However, the ability of crypto exchanges to block specific addresses means that governments may press to use this power in the future. When this happens, the privacy and financial freedom that crypto fans have enjoyed for years will be violated.