The First Bitcoin Hack Reported Had 25000 BTC Stolen

Cryptocurrency News and Public Mining Pools

The First Bitcoin Hack Reported Had 25000 BTC Stolen

In 2011, Bitcoin was still very young, cheap and large transactions of BTC were very common. Although this numbers today are big, back in the day they weren't so big, but the potential gains by holding to this day can't be ignored, even if it was a very remote possibility holding BTC from that days to these day.

In 2011, Allinvain (Bitcointalk user), made a thread about being hacked. This person was victim of a virus that stole his wallet private key. Someone broke into his slush pool account, a Bitcoin mining pool, but he didn't think that everything on his computer was compromised and he only changed his slushpool password, instead of taking precautions right away. When he checked his Bitcoin wallet he saw what was a tragedy, 25000 BTC were drained from his wallet. The value of this hack today is 647 million dollars, of course at that time the value wasn't even near this.

He even tried to do something that we know doesn't make sense, he tried to restore a old backup of his wallet, but the transaction was in the blockchain already, confirmed and nothing could be done, all of his 25000 BTC were gone.

The history of Bitcoin can still teach us many things, like having your wallet in a secure place and always have backups of everything.

If you are curious you can check the Bitcointalk thread here

The beauty of this is that everything can be followed on the blockchain and even to this day this hack can be tracked.

submitted by /u/speedfire21
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