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18-Year-Old Reports $1 Million Bitcoin Theft From 'Bank' He Controlled...

• Business Insider
 An 18-year-old Australian says that he has had $1 million in Bitcoin stolen from the Bitcoin "bank" he was running, but he cannot go to the police because he worries that giving authorities the keys to investigate the case is the same as giving them control of the money itself, according to ABC Australia.

The man ran a Bitcoin bank called Tradefortress.

Bitcoin transactions cannot be reversed if the receiving party doesn't agree to the refund. ABC noted:

1 Comments in Response to

Comment by Ed Price
Entered on:

They say to do your Bitcoin transactions offline, and on a computer that doesn't hook to the Internet, or at least isn't connected to the Internet when transacting. I wonder how that works. If you are running a Bitcoin bank, you should probably have nothing else on that computer than the apps you need to run the bank. Better to see through what is going on in the hacking department that way.

Going to the authorities probably wouldn't do any good, anyway, except to give more permission to a different group of thieves.

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