Brazilian crypto streamer loses money by accidentally exposing private key

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A Brazilian crypto streamer named Fraternidade Crypto had a big problem with his cryptocurrency. He lost a lot of money because he accidentally showed his private key during a live video on YouTube.

Here’s what happened: He was playing blockchain games and tried to find his passwords for a gaming platform called Gala Games. He kept his passwords in a text file on his computer. But, there was a big mistake. He also had his private key for his MetaMask wallet in the same text file. This wallet had a lot of Polygon’s MATIC cryptocurrency.

When he opened the text file by accident, he showed two private keys on the live video. He quickly closed the video, but it was already too late. Someone watching the video used the private key to access his MetaMask wallet and took all the 86,000 MATIC coins. At that time, they were worth around $50,000.

In a video after the accident, Fraternidade Crypto asked the person who took the money to return it and even offered a reward. He said he lost all his savings and was planning to tell the police. About 70 people were watching his video.

Later, some people said that Fraternidade Crypto might have gotten back some of his money. But he still lost some non-fungible tokens (NFTs) and some Ether (ETH) on the ARB network.

This incident shows how important it is to keep your private keys safe when dealing with cryptocurrencies. It’s not a good idea to store them on your computer or in an easy-to-find place. Some people suggest using custodial solutions, like exchanges, to keep your crypto safe. Diversifying how you store your cryptocurrencies can also help prevent losing all your money.

When it comes to self-custody of crypto, security is the most important thing. Handling private keys and seed phrases should be done very carefully. Remember, “Not your keys, not your coins” is a saying in the crypto community. It means that if you show your private keys to someone else, they can take your money because you no longer own it in the crypto world.

What is a private key in cryptocurrency?

A private key in cryptocurrency is a secret code that allows you to access and control your digital assets within a crypto wallet. It’s a crucial piece of information that must be kept confidential, as anyone who has access to it can control and potentially steal your cryptocurrencies.

How did the crypto streamer lose his money?

The crypto streamer, Fraternidade Crypto, accidentally exposed his private key during a live YouTube video. He had stored his private key in a text file on his computer, and while attempting to access his gaming platform passwords, he unintentionally revealed the private key. This allowed someone watching the video to access and transfer the cryptocurrency from his wallet.

Can the streamer recover his lost funds?

It’s unclear whether the streamer can fully recover his lost funds. In the article, it’s mentioned that he managed to recover some of the lost MATIC tokens but lost non-fungible tokens (NFTs) and Ether on the ARB network. The recovery of stolen cryptocurrency can be challenging, and the streamer may face difficulties in retrieving all of his lost assets.

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