Ian Balina, known crypto investor and YouTube influencer has been ripped off his cryptocurrency worth $2 Million in a hacking incident. After finishing with a live stream ICO review, he noticed something was missing when he was asked to sign in to his Google account. When Google account asks for signing in in a same session, it means someone else had changed the password. Hackers Stole $2 million from Cryptocurrency Vlogger Ian Balina Wallet . Knowing that his account has been hacked, he ended the stream and went on to social media seeking help.
Balina asked his followers to support him in tracing $2 million worth of cryptocurrency being stolen from his Ethereum Wallet. However, he said he is least bothered about the money he has lost but he rather want to catch and expose the culprits behind this scam.
He posted on his social media account:
“Crypto Family, I need you now more than ever. I ended today’s live stream b/c I am being hacked. I’m not worried about the money. I learned my lesson. I only care about catching the hacker. Please email any information to email@example.com. Thank you all the support. $ETH $BTC”
Please read our article on how to avoid fake Bitcoin Wallet Scams
What Actually Happened with Cryptocurrency Vlogger Ian Balina Wallet?
Hackers are never smarter than the developers. The fact is that developers are more resourceful to develop programs that are well encrypted with multiple security checks. On the other hand hackers only exploit the vulnerabilities to get into your defenses. Balina’s account had a weaker security which he admits is the reason of the hack.
Hackers Stole $2 million from Cryptocurrency Vlogger Ian Balina Wallet
While creating his account, he gave a back-up email address which was he used when he was studying in college years ago. We all know that he keeps posting his financial data on public platforms which might have enticed the hackers to find a way into his wallet.
It is a strong observation that the hacker had his old email’s password and he recalls one such incident where he was asked to change his old email password because of a notification from the email service providers.
Once the hackers accessed the older email, they easily changed the password of his current email address. It is a lot easier to hack the data when you have the password of your primary email account.
Which Wallet was He Using?
Balina was using a cloud based wallet, Evernote. However, all the wallets are password protected yet only few of them are considered safe. Hackers got the password after following a procedure through the primary email and accessed millions of dollars worth crypto currencies.
Interesting rumors are going across. Few people doubt Balina’s hand in this robbery because of tax evasion. The deadline of filling the tax returns was just one day ahead before the incident happened. Another fact that support this suspicion is that Ian Balina had already knew that his old email (College Email) had been compromised but he still kept a compromised account attached to his primary email.
“I remember getting an email about it being compromised and tried to follow up with my college security to get it resolved, but wasn’t able to get it handled in a fast manner and gave up on it thinking it was just an old email.”