Tech guru and former Apple co-founder Steve Wozniak claims that he was recently scammed out of bitcoin worth $70,000, thus becoming the latest victim of a bitcoin-related scam.
A report by the India Economic Times that was published on Monday claims that Wozniak lost roughly 7 bitcoins which are equivalent to about $70,000. The bitcoin thieves managed to steal the bitcoin through a credit card. He also stated that the thieves stole the bitcoins using a stolen credit card which makes it even more difficult to get them back. According to the Indian news outlet, Wozniak was giving a speech during this year’s Global Business Summit which took place in New Delhi.
“I had seven bitcoins stolen from me through fraud. Somebody bought them from me online through a credit card and they canceled the credit card payment. It was that easy!” stated Wozniak.
The tech legend claims that he acquired the cryptocurrency when its price was just $700 per bitcoin. However, the performance of the cryptocurrency has been quite intense, with prices almost hitting $20,000. The price has however gone down and it is now around the $10,000 mark. However, bitcoin worth $70,000 is minute compared to the massive investments in bitcoin by other investors. Some have even invested millions in blockchain and other cryptocurrencies. The amount is also chump change given that Wozniak has a net worth of $100 million.
The bitcoins that were lost through the scam were part of Wozniak’s experimental purchase. During his recent report, he pointed out that bitcoin is decentralized, free from being controlled by the government and this has been one of the key selling points of blockchain and cryptocurrencies.
The theft of Wozniak’s bitcoin further highlights one of the problems that has been plaguing the world of digital currencies. However, it is next to impossible to hack into a blockchain and steal cryptocurrency but it is relatively easier to steal cryptocurrency from exchanges that do not have ample security. The successful nature of cryptocurrencies has also attracted a lot of fraudsters in the hope of cashing in on this new technology.