Ian Balina Supposedly Got Hacked While on Livestream, But Did He Really?
Ian Balina is a popular crypto investor and educator that was supposedly hacked for over $2million via a livestream on YouTube on Sunday while teaching his “Hacking the System” course to followers.
Is this a really ironic hack (look at the name of his course) or an incredibly elaborate ruse to try to avoid paying taxes to the government?
Or was this a way to gain attention from the crypto community and possibly gain more followers?
Because this whole situation has really gotten the attention of the entire crypto community!
I waited a couple days after the hack to post my thoughts because I wanted to see what other comments were released by Balina and his organization.
During the livestream, Ian supposedly received this message:
“Ian, did you know that somebody transferred all your tokens from your account?”
He then released this message to his followers via Twitter:
Then he released this message on Telegram that has since been deleted:
This is how I think I got hacked. My college email was listed as a recovery email to my Gmail. I remember getting an email about it being compromised, and tried to follow up with my college security to get it resolved, but wasn’t able to get it handled in fast manner and gave up on it thinking it was just an old email.
I kept text versions of my private keys stored in my Evernote, as encrypted text files with passwords. I think they hacked my email using my college email, and then hacked my Evernote.
Criticisms of The Situation
Personally, I don’t think that I have ever heard of Evernote being hacked because I think their security is better than that.
Charlie Shrem, a controversial Bitcoin millionaire, had this to say about the situation:
“So he moved all the tokens and ether into 1 account last week and that’s the account that got hacked?”
I have to say that it seems a little bit weird that a supposed crypto guru had $2million worth of crypto coins in unsecure accounts. If he did and this was truly an accident, then I’m not sure I would trust this guy to teach me anything about crypto, just sayin’.
To the people that are saying that he’s trying to get out of paying taxes, isn’t he based in the United Kingdom? I’m not completely sure about that one though.
And he would still owe the taxes even if he lost the money, right? Because the money was stolen in 2018 but taxes are for 2017.
Offering Another Theory
From a business perspective, this may have been a gimmick to get him more attention for his business. Think about it this way, if he loses a ton of money and then makes it back really quickly he’s going to get a lot of attention from the media.
That much attention is going to likely bring more clients for his business. People love rags to riches stories! And this one will make a great one if he can pull it off.
So, do I think he got hacked? No, not really. It’s possible but not probable in my book. It would really be a smart business move if it wasn’t so very deceptive.
What do you think about this supposed hack and do you think he will be able to make the money back? What is the story here? I want to know your thoughts!
Thanks for reading,