$1.1M Drained Due to Police Body Cam Footage

[paymentflo]

Nevada police had stopped a man and searched him, what they had found was a paper with some words on it.

The words were his seed phrase, the body cam footage was made public and shortly after his wallet was drained for $1.1M.

The lesson here is, if you have your seed written down, have a system behind it, mix words, add random words or use a system only YOU know.

Stay safe, this can happen to anyone.

Note: this is an old video but the lesson is important

video on X

 

[SettingSun77]

 

[Panther28]

so he must have had his wallet address and seed phrase together on a random bit of paper on his pocket? lol

Or how were the 2 put together?

 

[eerdeshi]

Lol, dude I just watched the video. The first officer started reading it out which would have stayed anonymous until he asked for clarity and the next guy mentioned it's crypto related now that would have been stolen even by people passing by not necessarily all the way till video went public.

That's bad luck man

 

[SEOGami]

so he must have had his wallet address and seed phrase together on a random bit of paper on his pocket? lol

Or how were the 2 put together?

You don't need the public wallet address if you have the phrase.

 

[eerdeshi]

so he must have had his wallet address and seed phrase together on a random bit of paper on his pocket? lol

Or how were the 2 put together?

No need for hltje address only complete seed phrase unfortunately

 

[Mrnewbie]

 

[jeezabull]

Now that's a big oof.

 

[Panther28]

You don't need the public wallet address if you have the phrase.

You don't need the public wallet address if you have the phrase.

Thanks, never knew this! Seems wallet is made from seed address, i thought it was encrypted locally so that you still needed both! lol

 

[eerdeshi]

Thanks, never knew this! Seems wallet is made from seed address, i thought it was encrypted locally so that you still needed both! lol

Unfortunately even 10 seeds can get cracked so the need to keep them secure is highly important

 

[AdEngine]

You don't need the public wallet address if you have the phrase.

that means if we can try random 10 phrase we can take over wallet by luck?

 

[eerdeshi]

that means if we can try random 10 phrase we can take over wallet by luck?

10 has to be exact else no one will be left with any coins if randomness wins, lol.

Don't even think about it, try and keep it safe, use translations for some words if new word inserts would be confusing.

Whoever has the keys owns the coins unfortunately, rule still stands

 

[Panther28]

that means if we can try random 10 phrase we can take over wallet by luck?

Seems its easier to win the lottery everyday with 1 ticket! lol

 

[deppo]

Multisig wallet and/or a strong passphrase would have prevented this. One of the reasons crypto will not go full mainstream if things stay as complicated as they are. You cannot teach a boomer to jump through all these hoops.