NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

The $0.5M Mistake: Sends 800 BTC to Wrong Address Belonging to Mt. Gox

newsbtc
newsbtc
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Think you’re having a rough Monday morning? Probably not as bad as the guy in this next story and his mistake of epic proportions.

Up on the bitcoin page at Reddit.com is a story that’s no short of eye-catching. It starts with said user trying to send a bitcoin address funds. Except — oh dear — it’s the wrong address.

It’s happened before, and it will continue to happen in the future, likely.

But the amount sent is what’s really eye-popping. In the words of the original poster: “If you just received 800 Bitcoin out of the blue, it was from me”.

You read that right. Eight hundred bitcoins. If you were wondering, that’s worth a whopping $504,000 at the current exchange rate. That brought the total received by the address (viewable here) 1,100 BTC or $693,000.

The previous 300 BTC transmission was sent by the same person, presumably intentionally.

(Side note: the user did confirm the validity of this story by signing a message, which you can view the contents of here.)

Wondering who the address belongs to? According to the poster, it’s Mt. Gox. And given the company lost access to hundreds of thousands of bitcoins earlier this year, it’s unlikely he’ll ever get them back (we’re hopeful for him, though!).

It outlines that one of the key benefits of bitcoin — the fact that bitcoin transactions are irreversible — can also be a downfall, particularly in these sorts of cases.

It’s an all-around unfortunate situation. Moral of the story: always verify the address you’re sending to!

[textmarker color=”C24000″]Source[/textmarker] Reddit [textmarker color=”C24000″]Image[/textmarker] Alex E. Proimos

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 5

  1. John says:
    11 years ago

    ultimate facepalm.

    Reply
  2. FreeJack says:
    11 years ago

    This is why the top priority in Bitcoin development (and any crypto), by the core developers, needs to be human interface design. We need more than just engineers working on this. Bitcoin, Litecoin nor any other crypto is TRULY going to achieve mass acceptance until users are no longer confronted with long strings of confusing random letters & numbers. It has to be MUCH more intuitive than that. Every user lives in fear of getting one letter/number wrong in their send address and having their coin end up somewhere they didn’t intend them to.

    Reply
  3. Professor Digressor says:
    11 years ago

    On a total side note.. this is also why Namecoin won’t work. I registered all of my (.bit) domains on the namecoin blockchain a few months ago and the private keys were unintentionally deleted before I had a chance to make backups. So now, until the end of time, nobody can ever manage any of those 13 domains I created records for. Things like DNS cannot afford to be so permanently and irreparably destroyed as a result of a simple accident or mistake. Forever is too permanent for some things. Like DNS for instance. Sorry to digress.

    Reply
    • st4rbux says:
      11 years ago

      Those registrations will expire in 36,000 blocks (a couple of years), and you can re-register.
      Also: backups!

      Reply
      • Professor Digressor says:
        11 years ago

        Awesome I did not know that, thank you. I am normally mr backup, this just wasn’t one of those times. So if I find the block with one of my domains in it.. I can just add 36,000 and wait for that block.. hey at least it’s something! thanks

        Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 5

  1. John says:
    11 years ago

    ultimate facepalm.

    Reply
  2. FreeJack says:
    11 years ago

    This is why the top priority in Bitcoin development (and any crypto), by the core developers, needs to be human interface design. We need more than just engineers working on this. Bitcoin, Litecoin nor any other crypto is TRULY going to achieve mass acceptance until users are no longer confronted with long strings of confusing random letters & numbers. It has to be MUCH more intuitive than that. Every user lives in fear of getting one letter/number wrong in their send address and having their coin end up somewhere they didn’t intend them to.

    Reply
  3. Professor Digressor says:
    11 years ago

    On a total side note.. this is also why Namecoin won’t work. I registered all of my (.bit) domains on the namecoin blockchain a few months ago and the private keys were unintentionally deleted before I had a chance to make backups. So now, until the end of time, nobody can ever manage any of those 13 domains I created records for. Things like DNS cannot afford to be so permanently and irreparably destroyed as a result of a simple accident or mistake. Forever is too permanent for some things. Like DNS for instance. Sorry to digress.

    Reply
    • st4rbux says:
      11 years ago

      Those registrations will expire in 36,000 blocks (a couple of years), and you can re-register.
      Also: backups!

      Reply
      • Professor Digressor says:
        11 years ago

        Awesome I did not know that, thank you. I am normally mr backup, this just wasn’t one of those times. So if I find the block with one of my domains in it.. I can just add 36,000 and wait for that block.. hey at least it’s something! thanks

        Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

On-Chain Data Shows Key Bitcoin Support & Resistance Levels—Here’s What To Expect

On-Chain Data Shows Key Bitcoin Support & Resistance Levels—Here’s What To Expect

Bitcoin (BTC) has seen a pullback after days of sustained upward momentum, reacting to the latest U.S. Consumer Price Index...

Samuel Edyme 2 hours ago

Google AI預測2025年山寨幣千倍幣:XRP、Pi幣與Snorter強勢爆發

在2025年夏季,比特幣成功突破12.2萬美元歷史高點之後,加密貨幣市場再次迎來熱潮,而山寨幣則成為這波資金輪動中的關鍵焦點。Google人工智慧平台Gemini近日發佈的最新預測報告中指出,多種特定...

Mark Mak 4 hours ago

TOKEN6900已募資突破53萬美元 達成硬頂10%

當你把毫無計畫、類似邪教的追隨者,以及加密貨幣混在一起會發生什麼? 令人滿意的是,僅用了兩周,你就能看到超過 53萬美元 的融資成果。 但如果你以為 TOKEN6900(T6900) 的崛起歸功於某個...

estherw 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Profit-Taking Spikes Without Price Drop – Strong Demand Or Delayed Reaction?

Ash Tiwari 28 minutes ago
Bitcoin price whale news

Bitcoin OG Whale Moves 40,000 BTC To Galaxy, Triggering Market Shock

Jake Simmons 1 hour ago
Bitcoin Price Attempts a Comeback

Bitcoin Price Dips — Is This the Calm Before the Surge or the Storm?

Aayush Jindal 2 hours ago

Premium Sponsors

Press Releases

  • e 3 coiny poniżej 1 dolara mogą zamienić 200 dolarów w...

    8 hours ago
  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    14 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    14 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    15 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    15 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.