Apple Co-Founder Steve Wozniak recently revealed that he had seven bitcoins stolen from him in an old school scam that has been around as long as credit cards. Those coins are now valued at roughly $70,000 and change. He wasn't duped by one of the many cryptocurrency scams out there, like those that pretend to be
Woz says that someone online bought the seven bitcoins from him using a credit card, but the card was canceled after the bitcoin was transferred, so the payment failed to process. To make matters worse Woz says that the card number was also stolen so there was no way to get the bitcoin back.
Woz talked about the fraud that cost him tens of thousands of dollars with the Economic Times of India. He said, "The blockchain identifies who has bitcoins... that doesn’t mean there can’t be fraud though."
Woz says that the bitcoin was purchased at $700 each back then, when the cryptocurrency had risen from about $70 each. He says that originally the bitcoin was an experiment to see if he could one day use cryptocurrency instead of cash or credit cards. Woz isn't exactly hurting for money, but that doesn't mean losing thousands of dollars