Steve Wozniak Scammed off 7 Bitcoins

Just like other people who lost a huge chunk of money to Bitcoins, Apple co-founder Steve Wozniak says that even he was a victim of a bitcoin scam.

In a recent conference at the Economic Times of India, Steve exclaimed how he was involved in a bitcoin fraud where he was stolen off 7 bit coins.

“Somebody bought them from me online through a credit card and they cancelled the credit card payment,” he went on to say. “It was that easy. And it was from a stolen credit card number so you can never get it back.”

What really had happened that Steve went ahead to sell his bitcoins to an unsolicited person. He transferred his Bitcoins without any verification and as soon as the scammer received the coins, he cancelled out on the credit card. Therefore the payment never reached Steve’s accounts.

Wozniak said he bought the bitcoin when it was priced at $700, but his loss would be valued at approximately $71,400 today as per the current market prices.

Even with some transactions going south, Wozniak is still a cryptocurrency proponent, having maintained his bitcoin holdings up until late last year.

“Bitcoins to me was a currency that was not manipulated by the governments. It is mathematical, it is pure, it can’t be altered,” Wozniak was quoted as saying which is really true.

Not just bitcoins, but also cryptocurrencies fit the way Wozniak described bitcoins. That’s the reason why even Amazon is planning on launching its own coin.

He revealed in January that he decided to sell his bitcoin holdings because he was interested in the cryptocurrency only as an experiment.

He wanted to sell it because he didn’t want to be one of those people who would keep watching the price fluctuate rather he wanted to sell it off and be care free of its tension. Although it resulted into a completely unexpected outcome.

Steve Wozniak Scammed off 7 Bitcoins was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.