How Scammers Steal Bitcoin (And How to Stop Them) | Ep. 6
Show Notes
Gary Leland, Bob Burnett, and Larry Lepard sit down with Joe Kelly, CEO of Unchained, and surprise guest Terrence Michael of The Bitcoin Advisor to break down how scammers are targeting Bitcoin holders right now and what you can actually do about it.
Gary shares a real-time scam call he got from someone spoofing Unchained's number. Bob walks through a sophisticated fake Bloomberg interview that compromised his computer. Terrence tells the story of a client who lost his entire Bitcoin stack to a pig butchering scam in under three weeks, and his sister's home invasion where multi-sig saved her holdings.
Topics covered: social engineering and phishing attacks, phone number spoofing, pig butchering scams, how multi-signature custody works as a security layer, YubiKeys, wrench attacks and physical security, time-locked Bitcoin, decoy wallets, Unchained's collaborative custody model, estate planning and legal ownership of Bitcoin, and practical tips every Bitcoin holder should know.
Sponsors: Bitcoin Well, Sazmining.com/Boomers, Ledn.io
Bitcoin Boomers is a monthly show hosted by Bob Burnett, Larry Lepard, and Gary Leland.
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0:00 Scams and Security in Bitcoin
2:05 Unchained Capital Overview with Joe Kelly
4:59 Owning and Custodying Bitcoin Explained
17:31 Concerns About Government Seizing Bitcoin
19:09 Scam Call Impersonating Unchained Support
24:22 Bloomberg Interview Scam Attempts
29:36 Terrence Michael Joins the Discussion
30:56 Multi-Sig Setup and Honeypot
33:05 Collaborative Security with a Client
41:16 Multi-Sig and Social Verification
45:55 Wrench Attacks and Physical Threats
52:58 Pig Butchering Scams and Social Engineering
1:02:58 Estate Planning and Trusts
1:08:36 20 Millionth Bitcoin Mined
