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Market News

YouTuber Loses $60K In Crypto After Showing Seed Phrases Mistakenly

Bianco accidentally shared the address of his Polygon wallet and that led to the loss of 86,600 MATIC.

Written By Dishita Malvania
Published 2023-09-01
Make The Crypto Times preferred on GoogleGoogle
YouTuber Loses $60K In Crypto After Showing Seed Phrases Mistakenly

A Brazilian blockchain gaming-focused YouTuber, Ivan Bianco, lost nearly $60,000 worth of cryptocurrency and NFTs after accidentally revealing his seed phrases during a livestream. 

During a livestream on his channel, Fraternidade Crypto, Bianco accidentally showed a document containing his seed phrases. Unfortunately, this mistake led to unidentified people taking control of his digital wallet, which led to the theft of his cryptocurrency assets. 

⚠️ O Youtuber Ivan PERDEU TODO O DINHEIRO ao vivo por abrir sem querer um bloco de notas com a sua Chave Privada.

Autocustódia é algo que demanda extremo cuidado. Jamais guarde suas seeds e senhas no computador ou em local de fácil acesso. Perder todas as criptos é bem mais… pic.twitter.com/AxPsgQ7LWu

— Guilherme Rennó (@RennoGuil) August 30, 2023

Bianco accidentally shared the seed phrases of his Polygon wallet, and that led to the loss of 86,600 MATIC, which was worth $50,800 at the time of the theft.

Additionally, about 3.35 ETH, worth approximately $5,750, from his stolen funds remain in another person’s wallet on the Arbitrum network, as Bianco shared. Several other viewers who could not hold back from this opportunity also swiped smaller amounts of crypto.

In a consecutive livestream, Bianco was seen crying and was explaining to viewers what had happened to him. He also tried to create a new wallet immediately after realizing that he had accidentally exposed his seed phrases, but within a short time, the cryptocurrency held in that wallet  had already been taken.

Surprisingly, after the theft, an unidentified individual contacted him on Discord. Later, they connected over a call, and Bianco claimed that the person who called had stolen his funds.

“He said, ‘I fucked up here, I know what I did was bad,’ and he just hung up and left,” Bianco reportedly said after the incident that 

After the call, the stolen funds of about 86,600 MATIC were returned to Bianco. Bianco confirmed that around $50,000 worth of total cryptocurrency was returned to his address.

“I didn’t do anything to recover it. The guy wanted to return it for some reason, I won’t say his name, because the guy returned it, and there’s no reason for me to screw him, even though what he did was wrong,” Bianco said. 

Also Read: YouTubers Face $1Billion Class-action Lawsuit for Promoting FTX

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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