Newsred flags

Bitcoin Scam : Apple co-founder Steve Wozniak’s bitcoin stolen

Steve Wozniak has been stung by a Bitcoin scam. If you’ve fallen prey to a Bitcoin scam, you’re likely too mortified to admit it publicly. However, you should take heart because even Apple co-founder Steve Wozniak has found himself a few BTC short at the hand of an experienced bitcoin scam artist .

Wozniak related this embarrassing incident at the Economic Times Global Business Summit, explaining that he had sold approximately 7 BTC to a buyer using a stolen credit card number. The payment was ultimately canceled, presumably by the card’s rightful owner, leaving the tech mogul with nothing but an empty Bitcoin wallet.

Wozniak has an inventive mind, so it comes as no surprise that he’s a fan of Bitcoin . The Apple cofounder spoke at the ET GBS about what made him a fan of the cryptocurrency. “Bitcoins 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. Unfortunately, all of this doesn’t safeguard Bitcoin from fraud.

Asked about his experience of investing in Bitcoin when they were going at $700 a piece and then selling them for a fortune when the price shot up, Wozniak said that he “did not invest in bitcoins”, but bought them as an experiment. “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.”

So, why did he sell them? “Because I didn’t want to watch the price everyday… I sold all except one. It was enough to experiment,” added Wozniak.

The tech millionaire bought the cryptocurrency when the value of a bitcoin was around $700, meaning that he invested around $4,900 in total. However, at today’s price of around $10,700, seven bitcoin would be worth $74,900.