Ian Balina Hacked for $2 Million AMA Live Stream w/Notes – April 24th, 2018

Note: These are notes taken from the live stream by a community member. If there are any errors in the notes, please check the video for clarification.

10:01 (timestamps)

Statement on the Recent Hack

During my last live-stream, somebody commented my wallet was being drained during the stream. I didn’t take this seriously at first but towards the end of the live-stream I noticed I couldn’t log in to my Google spreadsheet and my password wasn’t working. At this point, I knew something was up so I had to stop the live-stream to check everything. When I checked, my wallets had been depleted (around $2 million).

They didn’t steal everything from me, only my ERC-20 tokens. I won’t allow the hack to affect my spirit or any of my operations/lifestyle and I won’t have to go back to a corporate job. Many people question whether I got hacked and ask why I’m still going to NBA games etc. but I have to continue to live my everyday life and there are private investigators on the case, so well-trained professionals are handling this.

I really messed up by having my private keys on my Evernote. Since I’m always traveling, I had concerns that if I lost my paper wallet I’d be in trouble. I thought I was safe storing my private keys on Evernote because I encrypted them but clearly that didn’t help. I did have 2FA on my Gmail with the authenticator app but that didn’t help because my recovery email address was my college email and there is no 2FA on that. Once the hackers had access to my Gmail, they basically had access to everything. I’m now getting people to help me with my security and getting audits on my accounts.

The accusations regarding me trying to evade taxes are completely false. I wouldn’t file police reports and have the FBI investigate the case if I was trying to avoid paying taxes.

Many people have asked if we’ve found the hackers. The investigation is ongoing so I can’t reveal too much but we do have very strong leads and are confident we will recover the money. This may take a while since it’s bound to be a long process.

Many people have also asked how they can help me out. I really appreciate these nice gestures but my lifestyle hasn’t been affected much and I’m not looking for handouts. Instead of accepting donations, I plan to create merchandise for the community (clothing, mugs etc.) so if anyone would like to show support, they can receive something in return by purchasing the merchandise.

I’ve also been asked if the hackers are targeting other people. This is still under investigation so I can’t say much but regardless, everyone should take active and proper security measures to protect their crypto assets.

6:34 

Ian Balina Crypto World Tour Europe Dates (Confirmed)

 

24:56

Thoughts on Quarkchain

I covered Quarkchain briefly last week and I think this is an all-star ICO. I think it’s the best ICO this quarter. I was waiting for a demo from the team last week to see if they could deliver on their claims and the demo blew me away. I rated Quarkchain at around an 84% score and I participated in the private sale. I’ll do an official review of it probably on the next live stream.

27:00

Thoughts on CryptoCurve

This is the first Wanchain ICO. They do have a product but I’m passing on it as they don’t have an all-star team. I do think this ICO is good for Wanchain token holders though since they are only accepting WAN tokens.

30:10

LendingBlock

I participated in the ICO and will be having an AMA with their CEO Steve tomorrow at 2pm Eastern Time.

32:14

Why did I tweet my funds were moved to Kucoin and then the funds were moved afterward?

I was told by authorities to take my Twitter posts down because they didn’t want me to alert the hackers. If you check the time of my tweet and the time of the transaction on the blockchain, you will see my tweet was not posted before funds were moved from my wallet.

33:56

Still bullish on Loom Network?

I’m bullish on Loom and wish I still had my Loom tokens! I’ll be featuring the Loom team on my next vlog episode.

40:10

Thoughts on Edenchain

I have no plans to invest in Edenchain as the prototype isn’t ready. There’s a good ICO coming out almost every month so I prefer to have a more patient and targeted approach. Quarkchain was a better investment opportunity in my opinion.

42:22

Tips to secure crypto assets

There are some good tips here to protect your crypto assets:

https://hackernoon.com/ten-hacker-proof-steps-to-secure-your-crypto-assets-b564fe938e8

49:06

Thoughts on Solana

Billed as another high-performance blockchain with up to 710k transactions per second.

The idea was conceived in November 2017 and the initial testnet was released in Feb 2018. The token generation event won’t take place until 2019.

They have an all-star team but I heard there will be a long lock-up which I try to avoid. I’ll add it to my watchlist and will have to do more homework on it.

56:03

Thoughts on Hedera Hashgraph

This is a good project but not a good investment in my opinion. I don’t think there will be a good ROI based on the token metrics.

1:09:05

Thoughts on Casper

This is a decentralized storage project, which is quite a competitive space.

The ICO is taking place in May. I’ll need to do more research on this one and cover it on the ICO review live stream.

1:10:44

Thoughts on Holochain

This is a framework for dapps. It looks like they already have a product. We’ll have to cover this on the next ICO review live stream as well.

1:14:50

When will I release my own token?

I can’t do this any time soon. I have to register the token with the SEC and was planning to fill the papers out but then the hack happened. I’ll get to this when I have time.

1:20:22

Thoughts on Penta

I don’t think they have a product yet. There are also no dapps until Q3 of 2019 which is really far away so this is a hard pass unless I get more information.

1:26:17

Thoughts on POA Network

I think POA can get into the top 100. The team reached out to me and said there will be some kind of token swap coming up to make their token ERC-20 compatible which will make it easier to get listed on exchanges. The roadmap is still a bit vague but for me, this is a long-term hold.

1:38:05

Thoughts on Skrumble Network

This is a new blockchain project with a focus on secure connections. This looks like another one to add to our watch list.

1:45:28

Top 3 coins I’m looking at (already on exchanges)

Loom Network

POA Network

Zilliqa or Bluzelle

1:50:30

Thoughts on Algorand

This is a secure currency and transactions platform. I passed on this previously because the team is mainly academics with little business experience. They didn’t meet my criteria for an all-star team. The technology does look good though.

1:56:43

Thoughts on Virtue Poker

This is in my opinion an all-star ICO but the first round of the ICO looks pretty pointless and round 2 is in Q4, so I’m waiting until then.

1 Comment

  1. Helpwithmath April 27, 2018 at 5:55 pm

    It”s usually: 「Typical Conversation」 『Skill Names or Special Item』 (Inner Thoughts / Telepathy) So in this case, it”s because he”s talking to Syl through the statue in the shrine.

    Reply

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