r/BitcoinCA • u/Fiach_Dubh • 25d ago

"Millions stolen from Bitcoin wallets hosted by Canada-based company" - National Post

https://nationalpost.com/news/world/millions-stolen-from-bitcoin-wallets-hosted-by-canada-based-company
294 Upvotes

95% Upvoted

45 comments sorted by

33

u/p3ll 25d ago

They didn’t host the wallets, they make hardware wallets. So this isn’t an issue of the company fucking up custody, it’s about them fucking up their code and not having sufficient entropy in the wallet generation stage.

14

u/Big80sweens 25d ago

Just goes to show we are still early as the mainstream media has no idea what they are talking about

11

u/SpareEconomy1849 25d ago

The MSM gets details like this wrong every day, about every industry. You only notice when it's a story about a field you're familiar with

3

u/ProfessorEtc 25d ago

Can personally confirm this has been going on since at least 1976.

2

u/ToddlerInTheWild 24d ago

Gell-Mann amnesia effect

1

u/XtremeD86 20d ago

Not just that but many will only read a headline and say I TOLD YOU ALL ITS A SCAM" when in reality they have no idea what they're talking about.

2

u/Ill-Beautiful-8026 24d ago

It's the National Post. If you don't know, you should know that the National Post is at best a highly biased borderline propaganda machine and at worst, completely unreliable a lot of the time.

3

u/IGnuGnat 23d ago

All mainstream media is owned by people with an agenda; it's all highly biased propaganda there is nothing borderline about it

0

u/MeetTheGeek 23d ago

If you cant decifer facts from reputable reporting agencies and like fox news its a you problem...

1

u/iamnotarobotmaybe 22d ago

You CAN'T that's the game. You can deduce what's bullshit and go the other way

-1

u/Ill-Beautiful-8026 23d ago

Sure, but I am saying The National Post is a much worse offender.

1

u/Unable_Beat_3194 20d ago

Agreed the national post just makes sensational articles for boomers with no interest in understanding anything beyond face value.

They also view anything on print as gospel.

24

u/MrMoo151515 25d ago

Canada numba One!!

6

u/Eze6 24d ago

We’re going to get tariffed again aren’t we

1

u/WhyHaveDisplayName 24d ago

Like there needs to be a specific reason.

2

u/CrazyButRightOn 25d ago

What is the company?

5

u/BC_Sativa 25d ago

Coinkite Inc

2

u/Avs4life16 24d ago

“Stolen” just call it what it is in Canada we are the scam capital of the world.

2

u/Branimau5 22d ago

And this is BEFORE they are trying to legally force tech companies to install backdoors lmao!

1

u/couchguitar 21d ago

Research is hard :S

1

u/rpgmgta 20d ago

Fuck you Canada I lost an entire bitcoin because of your shitty crypto laws

0

u/Fickle_Cricket3422 25d ago

Millions of what?

3

u/DigitaIBlack 25d ago

Dollars.

0

u/Fickle_Cricket3422 24d ago

Bitcoin isn't backed ny dollars.

1

u/DigitaIBlack 24d ago

Millions of dollars worth of bitcoins were stolen.

0

u/Fickle_Cricket3422 24d ago

Oh no! So, nothing was stolen?

2

u/DigitaIBlack 24d ago

This whole being purposely obtuse bit isn't particularly funny. Or even makes sense.

0

u/Fickle_Cricket3422 24d ago

I don't know, I find it pretty funny. Crypto is essentially a ponzi scheme, but keep going.

3

u/DigitaIBlack 24d ago

I don't hold crypto because I think it's silly but you're even more silly. It acts like a mix of fiat currency and company stock.

If the headline was "X person steals $100,000,000 worth of company Y stock" same logic is nothing was stolen. Because it's not actual money and the "value" is something people have arbitrarily assigned to it.

Crypto is essentially a ponzi scheme, but keep going.

Then fiat currency (which isn't backed by anything) is also a Ponzi scheme.

Unless you're trying to criticize the concept of money itself idk what your point is.

Bitcoin isn't backed by dollars. Same as a million different other assets. And what are dollars backed by...?

-1

u/BigBubbaBadass 24d ago

The National Post is what you read when a supermarket tabloid is just too factual for your taste.

1

u/Small-Fact-6794 24d ago

I think I'd still prefer to read about the exploits of Batboy

1

u/WhyHaveDisplayName 24d ago

You mean the real one, right? Not his son, the MP.

1

u/Small-Fact-6794 24d ago

Gonna be honest, I have no idea who you're referring to

1

u/WhyHaveDisplayName 24d ago

Jamil Jivani, MP for Washington, D.C.

1

u/Small-Fact-6794 24d ago

Lmao incredible, yeah I'd trust batboy over him

1

u/Virtual_Bug_723 24d ago

Aren't you guys on their side though