Post
Topic
Board Bitcoin Discussion
Re: Uncovering the mystery of lost Bitcoins
by
xenon131
on 20/01/2021, 15:00:32 UTC
This is quite an informative article that can help especially the beginners but just want to add to it.

I realized you mentioned how bitcoin can be lost by misplacing private key and also from hacked exchanges but you did not mention how it can be lost through malware installation on wallet devices and also through phishing attacks.

Also, you did not mention seed phrase all through, for beginners to understand, you need to let them know how important seed phrase are. Because losing the master private key, seed or the seed phrase can be used to steal your whole wallet and lead to Bitcoin and other funds lost.

Ways Bitcoin can be lost
1. Forgotting the encrypted password used
2. Seed phrase accessed by attackers
3. Malware attack like trojan and keyloggers etc
4. Through phishing sites
5. Through fake exchanges
6. Through fake wallets.
7. Through lost passphrase
8. Hacked exchanges
9. Lost to cloud mining sites
10. Lost to Ponzi scheme
11. Lost through fake giveaways and airdrops
12. Lost through misplaced seed phrase, private key or seed etc.


Plus through  factory reset taken on mobile phone  if    your bitcoin wallet is there. I was always saying that  mobile is the last stuff to think of when choosing the device to hold private keys.  And this is true in all aspects, privacy, security and ability to restore data from corrupted/reset media.