Over 100 Recorded Physical Attacks Against Bitcoin Holders
A recent list documenting all recorded attacks on June 12 shows that there have been at least 100 physical attacks against Bitcoin holders or infrastructure facilitating BTC transactions. The list records all known physical attacks on BTC holders or facilities, including crypto ATMs, as early as 2014.
The list published on GitHub, a public code repository and shared by Bitcoin supporter Jameson Lopp, the chief technical officer of Casa, shows that the first recorded attack on BTC was in 2014 when Hal Finney fell victim. Finney was one of the first supporters of Bitcoin who was also in touch with Satoshi Nakamoto, the mysterious founder of the cryptocurrency.
According to circulated news on that day, Finney was “SWATed” after months of online harassment. Being “SWATed” is a cybercrime where the attacker reports a false crime to the police. The SWAT team responds and invades the alleged perpetrator’s home only to discover that the caller had lied about the crime.
In 2014 an unknown person attacked Finney and demanded 1,000 BTC in exchange for not releasing his personal information. Finney failed to pay and so ransom attacker released his home address to public while calling police saying he wanted kill himself which happened few months before he passed away in August same year.
Another notable event happened in Netherlands when thieves stole two bitcoin ATMs back in year-2015 but it took them almost two years later until they were caught red-handed trying sell stolen machines via darknet marketplaces like AlphaBay Market (which has since been shut down).
Lopp became another victim when he got “swatted” by extortionists demanding nearly $700k worth bitcoins from him late last year; these attackers called up local law enforcement claiming Lopp had shot his wife then proceeded extorting money out him through threats violence if their demands weren’t met promptly enough.
Crypto Is Digital And Transactions Traceable
There is a misconception among new users, thieves or attackers that Bitcoin is a physical asset more like cash that can be stolen. However for attackers who failed to do their groundwork including those who stole the crypto ATM in 2015, digital nature of cryptocurrencies means coin holders must first approve transaction by signing using their private keys.
Without private keys attacker cannot steal coins and moreover transparent nature of crypto transactions advantages victim since on reporting matter to law enforcement assets can be trailed.
On multiple occasions hackers especially of decentralized finance (DeFi) protocols have ended up reversing funds due risks identity being revealed because underlying blockchains are transparent such as Ethereum or BNB Chain which has led some people question whether these platforms really offer any privacy at all given how easily one’s activity could potentially traced back them if they’re not careful enough about what information they share publicly online via social media accounts etcetera.
Feature Image From Canva Chart From TradingView
#Physical #Attacks #Bitcoin #Holders #Infrastructure #Recorded