Apple co-founder Steve Wozniak has revealed he was a victim of a scam that robbed him of $70,000 worth of Bitcoin.
He told an audience at the Economic Times of India‘s Global Business Summit: “The blockchain identifies who has Bitcoins… that doesn’t mean there can’t be fraud, though. I had seven Bitcoins stolen from me through fraud.
“Somebody bought them from me online through a credit card and they cancelled the credit card payment. It was that easy. And it was from a stolen credit card number so you can never get it back.”
Though at the time it was worth much less, CoinDesk points out that the loss would amount to about $71,400 in today’s terms.
Wozniak also said that, rather than purchasing Bitcoin as an investment, he did so as an experiment, adding: “I had them so that I could someday travel and not use credit cards, wallets or cash. I could do it all on Bitcoin. I studied which hotels and facilities accepted Bitcoin… it’s still very difficult to do so. I also tried to buy things online and trade Bitcoin online.
“I didn’t want to watch the price everyday… I sold all except one. It was enough to experiment.”
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