{"id":251886,"date":"2020-02-24T07:47:43","date_gmt":"2020-02-24T12:47:43","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=251886"},"modified":"2020-07-17T11:07:37","modified_gmt":"2020-07-17T15:07:37","slug":"bitcoin-cash-sim-hack-rumor-sparks-online-debate","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-cash-sim-hack-rumor-sparks-online-debate","title":{"rendered":"Bitcoin Cash SIM Hack Rumor Sparks Online Debate"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">A new story about an alleged crypto SIM hack is making its rounds across the internet, and it seems to be sparking more conspiracy theories than facts.\u00a0<\/span><span data-preserver-spaces=\"true\">The story in question comes from a now-deleted post on Internet forum Reddit, where it was explained that a Chinese cryptocurrency investor lost up to $30 million in Bitcoin Cash and $14.4 million in Bitcoin.\u00a0<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Online Sources Pick Up an unverified Story\u00a0<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">The original report explained that the investor\u2019s SIM card was hacked, and the alleged victim decided to beg BCH miners to help track the transactions. The post was deleted not long after it was originally published. Unfortunately, the internet never forgets. The post was picked up by Dovey Wan, a Chinese blockchain insider and head of Primitive Ventures.\u00a0\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In a\u00a0<\/span><a class=\"_e75a791d-denali-editor-page-rtfLink\" href=\"https:\/\/twitter.com\/DoveyWan\/status\/1231073856669933569\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-preserver-spaces=\"true\">series of tweets<\/span><\/a><span data-preserver-spaces=\"true\">, Wan explained pretty much what was in the Reddit post, inclusive of her opinions on the matter. She confirmed that keeping so much in cryptocurrency was a \u201cstupid move \u201cin the first place, while also adding details in real-time that the hacker seemed to have been moving the money stolen into a mixer to conceal their identity and the source of their funds.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING<\/p>\n<p>1M <a href=\"https:\/\/twitter.com\/search?q=%24BCH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BCH<\/a> sim hack!! worth $30M from 1 single Chinese whale (he claimed lost $15M <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> too) He&#39;s now asking for help from miners ..I&#39;m talking with top BCH pool owners on this OMFG<\/p>\n<p>\ud83d\ude31\ud83d\ude31\ud83d\ude31<\/p>\n<p>BCH address :qzumak2rvxksjgkjuxe2fe5jxatktlsnhy5sthr5p7<\/p>\n<p>THIS IS REALLY BRUTAL <a href=\"https:\/\/t.co\/19XM3w5BL7\">pic.twitter.com\/19XM3w5BL7<\/a><\/p>\n<p>&mdash; Dovey &quot;Rug the fiat&quot; Wan (hiring) (@DoveyWan) <a href=\"https:\/\/twitter.com\/DoveyWan\/status\/1231073856669933569?ref_src=twsrc%5Etfw\">February 22, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Wan also pointed out that the victim seemed to have been Josh Jones, the founder of Bitcoin Builder, a service with close affiliations to hacked crypto exchange Mt. Gox.\u00a0<\/span><span data-preserver-spaces=\"true\">Bitcoin Builder came into prominence around the same time that Mt. Gox imploded, as it provided a means for the exchange\u2019s users to trade the Bitcoins in their <a href=\"https:\/\/insidebitcoins.com\/bitcoin-account\">Bitcoin account<\/a> despite the freeze put on the exchange\u2019s funds.\u00a0<\/span><\/p>\n<p><iframe title=\"Mt. Gox: Solving the Mystery of Bitcoin\u2019s Biggest Disaster I Fortune\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/SfiiF1zHWU4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><span data-preserver-spaces=\"true\">The service also created an arbitrage trading arm for users to take advantage of the spread between Mt. Gox and other exchanges. Traders on bitcoin Builder could sell the Bitcoins in their Mt. Gox accounts on the Bitcoin Builder marketplace, thus taking advantage of the exchange\u2019s temporary freeze to make money. However, it would seem that the service didn\u2019t operate for long, as Mt. Gox never came back from that infamous hack.\u00a0<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Bitcoin Cash Takes a Slight Downturn<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Regardless, it\u2019s currently impossible to find out if Jones was the victim of the hack. His Twitter account hasn\u2019t had a tweet since August 2019, and while a lot of industry news outlets have already picked up on the story, none has been able to verify anything concrete.\u00a0<\/span><span data-preserver-spaces=\"true\">As for Bitcoin Cash, the asset\u2019s price has taken a tumble over the past 24 hours. It\u2019s trading at $386.36, down 1.7 percent on the day after crossing the $400 threshold for the first time in about a week.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It\u2019s still unknown whether the drop was caused by panic over the alleged hack, as the entire crypto market seems to be having a rough day- of the top crypto assets by market cap, only Tether has managed to be trading up on the day, with a paltry 0.3 percent increase in the period.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">A new story about an alleged crypto SIM hack is making its rounds across the internet, and it seems to be sparking more conspiracy theories <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-cash-sim-hack-rumor-sparks-online-debate\" title=\"Bitcoin Cash SIM Hack Rumor Sparks Online Debate\">[&#8230;]<\/a><\/div>","protected":false},"author":1770,"featured_media":156340,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5518,7648,5881,10409],"class_list":["post-251886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-bitcoin-builder","tag-bitcoin-cash","tag-mt-gox","tag-sim-hack"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Cash SIM Hack Rumor Sparks Online Debate - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"An alleged Bitcoin SIM hack is making its rounds across the internet, and it seems to be sparking more conspiracy theories than facts.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/251886\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Cash SIM Hack Rumor Sparks Online Debate\" \/>\n<meta property=\"og:description\" content=\"An alleged Bitcoin SIM hack is making its rounds across the internet, and it seems to be sparking more conspiracy theories than facts.\u00a0\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-24T12:47:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-17T15:07:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/07\/shutterstock_762813718-hacker-1024x640.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jimmy Aki\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@adejimi\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jimmy Aki\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/251886#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/251886\"},\"author\":{\"name\":\"Jimmy Aki\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/a66ff7827d8bed054aa6be4e9d8c1dad\"},\"headline\":\"Bitcoin Cash SIM Hack Rumor Sparks Online Debate\",\"datePublished\":\"2020-02-24T12:47:43+00:00\",\"dateModified\":\"2020-07-17T15:07:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/251886\"},\"wordCount\":504,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/251886#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/07\/shutterstock_762813718-hacker-1024x640.jpg\",\"keywords\":[\"Bitcoin\",\"Bitcoin Builder\",\"Bitcoin Cash\",\"Mt. 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