Also, the $32k stolen was in crypto and not physical money I think? So I don’t think if anyone has the game installed that their bank account is in danger. But change passwords just to be safe.
The article says he is a pump.fun streamer. That’s not even real crypto. It’s literally a pump and dump website where anyone can make a new fake token by giving it a name and a picture. Then the price is set algorithmically until it gets enough people buying it that it converts into a real token. There are no fundamentals or differentiating factors between the tokens. It’s all a scam built upon the greater fool theory. At least different crypto currencies have different attributes and reasons to use them over others.
You wouldn’t want cold storage of any tokens on that site since they’ll be worthless the next day.
But, tbf, I don’t know if it was pump.fun slop that was stolen or a real crypto currency.
For context, here’s an article about another pump.fun streamer: Teen creates memecoin, dumps it, earns $50,000. Regretably, I don’t have any articles on-hand about the tens of thousands of people that are losing money to this scam.
sounds like using crypto is a huge contributor to even being affected here.
Maybe next time, an ETF might be more lucrative in the long run (can’t crypto-steal that) and more secure…
Paywalled article, not using 404media again.
Also, the $32k stolen was in crypto and not physical money I think? So I don’t think if anyone has the game installed that their bank account is in danger. But change passwords just to be safe.
And if you have crypto on your PC, make sure it’s stored safely, with encryption, as well as a cold storage backup somewhere else.
The article says he is a pump.fun streamer. That’s not even real crypto. It’s literally a pump and dump website where anyone can make a new fake token by giving it a name and a picture. Then the price is set algorithmically until it gets enough people buying it that it converts into a real token. There are no fundamentals or differentiating factors between the tokens. It’s all a scam built upon the greater fool theory. At least different crypto currencies have different attributes and reasons to use them over others.
You wouldn’t want cold storage of any tokens on that site since they’ll be worthless the next day.
But, tbf, I don’t know if it was pump.fun slop that was stolen or a real crypto currency.
For context, here’s an article about another pump.fun streamer: Teen creates memecoin, dumps it, earns $50,000. Regretably, I don’t have any articles on-hand about the tens of thousands of people that are losing money to this scam.
I keep mine cold stored in the cellar but the crisper drawer of the fridge is also okay
Be sure to use archival grade paper!
sounds like using crypto is a huge contributor to even being affected here. Maybe next time, an ETF might be more lucrative in the long run (can’t crypto-steal that) and more secure…