Steve Wozniak Is the Latest Victim of Crypto Fraud
Tech legend and Apple (AAPL) co-founder, Steve Wozniak, has joined the list of victims of cryptocurrency fraud. “I had seven Bitcoins stolen from me through fraud,” said Wozniak at the Economic Times’ Global Business Summit on February 26th. At the event, the American philanthropist had positive things to say about crypto though: “Bitcoin to me was a currency that was not manipulated by the governments. It is mathematical, it is pure, it can’t be altered,” he said.
So, while the currency itself may not be subject to government manipulation, its exchange isn’t entirely guarded against human manipulation. The blockchain identifies who has Bitcoins, but that doesn’t prevent fraud from tarnishing the system.
Wozniak Had 7 Bitcoins Stolen
“I had seven Bitcoins stolen from me through fraud. Somebody bought them from me online through a credit card and they canceled the credit card payment. It was that easy! And it was from a stolen credit card number so you can never get it back,” disclosed Wozniak at the event. At today’s price of around $10,721.50/BTC (Feb 27, 8:30 AM UTC), Wozniak’s stolen crypto is worth $75,050.50.
Wozniak had bought the Bitcoins not for investment purposes, but as an experiment at $700 a Bitcoin, so that he could use them one day when traveling without his credit cards, wallets or cash. He decided to sell (all except one of) them as he didn’t want to obsess over its price every day. Wozniak’s net worth stands at around $100 million.
Bullish on Bitcoin
On a broader level, Wozniak has by and large been bullish on Bitcoin and blockchain. He called it better than gold or the U.S. dollar, at the Money 20/20 conference in October 2017, because of its finite supply. “Maybe there’s a finite amount of gold in the world, but Bitcoin is even more mathematical and regulated and nobody can change mathematics,” he said back in October.