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Wozniak

The Case of Apple Co-Founder Steve Wozniak’s Stolen Bitcoins

Adam James
by Adam James
7 years ago
·
Posted in News, Bitcoin, Bitcoin Security, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Apple co-founder Steve Wozniak has long been a fan of Bitcoin and cryptocurrency, citing their purity as attractive in a manipulative world. In fact, he’s added to his already sizable fortune with some shrewd Bitcoin trades. He too, however, has fallen victim to fraud.


‘It Was That Easy!’

Apple co-founder Steve Wozniak is a big fan of Bitcoin — or, at least, he used to be.

Wozniak first bought into Bitcoin when it was worth $700, before flipping it for massive profits during the digital currency’s monumental run-up.

Woz found Bitcoin and digital currencies attractive, thanks to its decentralized and apolitical properties. He explained to ET GBS:

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 learned the hard way, however, that it can be stolen.

Wozniak @stevewoz likes bitcoin because it is based on mathematics pic.twitter.com/keanqCxf43

— Finom (@finom_company) October 22, 2017

Wozniak told a packed house at the Global Business Summit that his bitcoins were unkindly liberated from his possession as he fell victim to fraud. He explained:

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 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.

At the time of this writing, those seven Bitcoins are worth nearly $75,000 USD.

Steve Wozniak

Woz Not Exactly Hurting

Nevertheless, Wozniak wasn’t burned too badly by the rookie mistake. He reportedly bought a whole bunch of bitcoins when they were only $700 and sold them for a fortune — so the multimillionaire’s losses presumably were kept to a minimum.

He also never saw himself as a Bitcoin investor.

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.

Don’t worry, Woz. Mainstream adoption is coming.

Are you surprised to hear that a tech pioneer like Steve Wozniak fell victim to a rookie mistake? Let us know in the comments below!


Images courtesy of Bitcoinist archives, Shutterstock, and Twitter/@finom_company.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Adam James

Adam James

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Adam James lives in Budapest and is the Managing Editor of Bitcoinist.com. He digs Gibson guitars that sound like Tyrannosauruses, Romantic & Victorian poetry, Franco-era Spanish films, LPs, Chelsea FC, Bob Dylan, Pilot G2 10s, black coffee, video games, and cryptocurrency.

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