Millions stolen as Bitcoin paper wallet generator is compromised

A once extremely popular paper wallet generator seems to have been compromised. Allegedly, millions have been stolen according to users that are reporting that the codebase of the platform is not safe.

Countless forum posts and tweets are highlighting the fact that the website Bitcoinpaperwallet.com is compromised. The domain changed ownership three years ago, and since then people have been reporting thefts on public venues like Reddit and Twitter.

The owner of the paper wallet generating web portal denies that the codebase is compromised, claiming that it has been audited by a security expert.

But Bitcoin users are having none of it, with the latest thread asking people for help in shutting down the scam website.

Similar reports are littered across the web including on Twitter, where one user lost all his holdings using this website. Another person lost 14.5 bitcoins, worth about $700,000 a minute after loading the paper wallet, with the crypto sent to another wallet.

According to this recent report, the paper wallet generating website is currently maintained by an individual named Sarkis Sarkissian who was available for commentary regarding these instances. He claimed that these complaints were likely resolved, or the user figured out that it was their own fault.

Yeah, right.

As things stand, the accusations are flying left and right. And the talk that the server and source code have been verified clean by an internal security expert is doing nothing to quell these serious security concerns.

Ultimately, creating a paper wallet is something that must be handled with great care. No matter what type of wallet generator is being used, it is imperative to do the whole process completely offline.

Oh, and what about Bitcoinpaperwallet.com?

The jury is still out on the matter.


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