Tech Legend Steve Wozniak Scammed Out of $70K in Bitcoin

Apple co-founder Steve Wozniak says he once lost seven bitcoin, worth more than $71,000 today, to a ruse involving a stolen credit card number.

AccessTimeIconFeb 27, 2018 at 2:45 a.m. UTC
Updated Aug 18, 2021 at 8:18 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Apple co-founder Steve Wozniak says he was the victim of a bitcoin scam.

"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," he reportedly told the audience at the Economic Times of India's Global Business Summit this week.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • "Somebody bought them from me online through a credit card and they cancelled the credit card payment," he went on to say. "It was that easy. And it was from a stolen credit card number so you can never get it back."

    Wozniak said he bought the bitcoin when it was priced at $700, but his loss would be valued at approximately $71,400 today.

    Nonetheless, Wozniak is still a cryptocurrency proponent, having maintained his bitcoin holdings up until late last year.

    "Bitcoins to me was a currency that was not manipulated by the governments. It is mathematical, it is pure, it can't be altered," Wozniak was quoted as saying.

    He revealed in January that he decided to sell his bitcoin holdings because he was interested in the cryptocurrency only as an experiment.

    "I said, 'I don't want to become one of those people that watches it, watches it and cares about the number.' I don't want that kind of care in my life," he explained.

    Steve Wozniak image via Shutterstock 

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.