Crypto Twitter Reacts To Bitcoin Core Developer Losing Over 200 BTC

Bitcoin core developer Luke Dashjr on Monday said his PGP key was compromised, resulting in the theft of over 200 Bitcoin worth about $3.5 million. While Crypto Twitter finds whether the hack was real or a “boating accident” to save tax, another Bitcoin core developer Peter Todd confirmed the hack was real and happened due to security negligence.

Binance CEO Changpeng “CZ” Zhao felt sad and offered to help by monitoring the hack and freezing assets if it comes to the crypto exchange Binance.

Bitcoin Core Developer Luke Dashjr Loss Over 200 Bitcoin

Bitcoin core developer Luke Dashjr in a tweet on January 2 claimed that his PGP key is compromised and lost all his Bitcoin holdings. However, he has no idea how it happened, but claims that it started on December 31st.

He claimed that some of his Bitcoin were tracked to a wallet address. He also shared Bitcoin transactions showing the movement of small BTC to the same wallet. At the time of writing, the wallet address shows two transactions and the wallet has 216.93 BTC worth $3.6 million.

Some believe the hack is related to suspicious activities on Luke Dashjr’s server that he reported in November and December. Moreover, he kept his Bitcoin holdings in a hot wallet, which increases security risk as it is connected to the Internet.

While some think the event is a “boating accident,” which generally means avoiding paying taxes by claiming to lose all their BTC in a hack or other reasons. However, another Bitcoin core developer Peter Todd confirmed the hack was real and happened due to lax security.

Binance CEO “CZ” also tweeted in response, questioning the safety of Bitcoin holdings if a core developer can lose his BTC holdings. However, he offered to help Luke Dashjr and freeze bitcoins related to the incident. He said, “Self custody have a different set of risks.”

Bitcoin Price Hold Above Crucial Support

Bitcoin price is currently trading at $16,660, continuing to move sideways. The BTC price has kept above the crucial support level of $16.5K.

In the last 24 hours, Bitcoin saw a low and high of $16,521 and $16,677, respectively. The trading volume is also down 9% in the last 24 hours.

Also Read: Complete Report On What To Expect In 2023

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.