The Uphill Battle Of Bitcoin Cash

The Uphill Battle Of Bitcoin Cash

Crypto news Media Social
February 26, 2020 by Super System
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Bitcoin News

Hacker Allegedly Steals $30 Million In Bitcoin Cash

Bitcoin Cash News

Bitcoin Cash (BCH) has come under lots of heat these past few weeks after a significant investor claimed he lost $30 Million in a waller hack. 

The investor in question is Dreamhost founder Josh Jones. In a now-deleted post on Reddit, he said the attacker stole around $14.4 million worth of Bitcoin. 

The cames as a result of SIM card hack. He is still not sure if the hack occurred via a SIM swap or through any other means.

In a cry for help, Jones appealed to BCH miners not to validate any transactions from his wallet. 

“It’s only had three confirmations, if any miners/the community can help somehow, I’ve got the private keys. Help help… Big reward obviously,” he wrote.

Analysts already predict a butterfly effect from Jones’ demise. Dovey Wan, the co-founder of Primitive Ventures, a crypto asset fund, warned that the overall effect of the hack would go beyond Jones. 

Wan was quick to criticize Jones rather than console him. She criticized him for keeping such large sums of crypto in a wallet that could easily be accessible by phone. 

Getting Away 

Wan described the attack has vast. She added that the hacker had split the stolen funds into various parts so as to conceal their source and make it a bit easier to part away with and sell on an exchange platform. 

“RIP BCH .. only a double-spent can help this poor guy now,” she wrote. “No matter what, this 60000 $BCH hack, the dispute among BCH camp between Ver and Jihan, all these will mark a slow death of it.”

At the time of filing this report, BCH/USD remained unmoved. BCH was still valued at around $373. 

 


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