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Ian Balina loses around $2 million of cryptocurrency


Ian Balina, a digital currency speculator and advisor, was apparently hacked for more than $2 million in crypto while completing a live stream on his YouTube channel Sunday, April 15, that he promoted as “Hacking the System.”

Watching the live stream of Balina’s Initial Coin Offering (ICO) review, watchers can see the point where Balina was suddenly logged out of his Google Spreadsheets, which is in all likelihood the minute when the hack would have occurred. Ian posted on Twitter that

“Crypto Family, I need you now more than ever. I ended today’s live stream b/c I am being hacked. I’m not worried about the money. I learned my lesson. I only care about catching the hacker. Please email any information to [email protected] Thank you all the support.”

This request to the crypto group was trailed by another tweet, very quickly erased, that expressed that his missing coins were going to be sold on crypto trade KuCoin:

The fast deletion of this second tweet right away got the Twitter and Reddit people group interested by the reported hack, with numerous clients on the two stages proposing that Balina’s record of the hack is an intricate move to abstain from paying charges to the US Internal Revenue Service (IRS).

Crypto individual WhalePanda was one of the first to bring up the incongruity of the selection of words for advancing the YouTube live stream, which could infer either innocence or an amazingly wry comical inclination.

Reddit client shanecorry remarked that Balina’s tweet about KuCoin was posted when no coins had been moved to KuCoin from the charged programmers’ wallets.

Another Reddit client, Hidden_Troll, addressed why moving the assets and faking a hack would get Balina “off the hook for taxes,” while client bbRPSeddit clarified that since Balina purchased the coins “cheap” and never sold, he owes less assessments in 2017 than “he would in 2018 selling everything.”

The coming tax day in the US, may have caused the market droop since the new year, as Americans could have been auctioning off their crypto property to pay an expected $25 bln in capital additions charge due to crypto possessions, said Fundstrat’s Tom Lee.

As one post on the subreddit/r/CryptoCurrency supposedly records Balina’s three Ethereum (ETH) wallet addresses, and the three locations of the affirmed programmers, one can see that his wallets have for sure had their coins exchanged to these different locations. The exchanges, which contain an assortment of altcoins, are presently named IanBal_Hack from 1 to 4.

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Image via crypto-news

Lucia Coleman

I’m a communication enthusiast and junior editor-reporter at Research Snipers, I have completed a degree in Mass Communication but am very enthusiastic about new technology, games, and mobile devices. I have the main interest in Technology and games.