Crypto Influencer Loses All His Funds After Accidentally Exposing Seed Phrase on Live Stream
Popular Portuguese crypto-influencer Ivan Bianco inadvertently revealed his seed phrase while live-streaming about his DeFi (Decentralized Finance) earnings. This incident underscores the paramount importance of safeguarding sensitive information related to one’s digital assets.
What you'll learn 👉
The Fateful Mistake
During the live stream, Bianco attempted to log into his Gala gaming account—a platform that utilizes cryptocurrency. Finding himself without his smartphone, which likely contained two-factor authentication (2FA) measures, he resorted to opening a stored password file to proceed with the login.
“Let me log in here folks, on the other screen so that I don’t show my account details,” he assured his viewers.
But as he navigated his Windows Explorer to drag files to a second screen, a mishap occurred. The file named “back.txt,” intended for his eyes only, ended up being displayed on the shared screen, exposing his seed phrase to the world.
“Fuck, I screwed up big time! Will have to close the stream and I explain later on. I fucked up big, big time,” a visibly distressed Bianco exclaimed before hurriedly ending the stream.
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Show more +Before Bianco could secure his assets, an opportunistic viewer moved swiftly to pilfer his funds. In a follow-up stream, a tearful Bianco lamented, “He stole everything, man, the money of a lifetime. I can’t believe I did this, that I screwed this up.” He revealed that the stolen amount was around $50,000, essentially his life savings, all earned from DeFi projects.
In a desperate appeal, Bianco implored the thief to return the stolen assets, stating he would be left without the means to pay his bills. Subsequent reports suggest some funds were returned, though the exact amount remains unconfirmed.
Key Takeaways
- Never Share Your Seed Phrase: This incident serves as a harrowing reminder of the irreversible nature of transactions on blockchain networks. Seed phrases are the ultimate keys to your digital fortress; keep them secure and offline.
- Even Experts Make Mistakes: No one is immune to human error, not even seasoned crypto aficionados. This incident proves that when it comes to security, overconfidence can be ruinous.
- Digital Storage Risks: Storing your seed phrase digitally can make you an easy target. Physical storage or hardware wallets are safer alternatives for storing sensitive data.
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