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Man Lost Bitcoins Worth Over $100K via Public WiFi Network

public WiFi hotspot

A man recently lost his Bitcoin funds after connecting to a local restaurant’s unsecured WiFi network, allowing anyone to start hacking his device.

Recently, a man lost over 100,000 Bitcoins while having his dinner in a local restaurant.

The incident reportedly took place in Innsbruck, Austria where nearby hackers managed to steal Bitcoins worth around $117,000 from the man’s digital wallet while he used the restaurant’s public wireless network.

By hacking into the device over the network, nearby users were able to access the Bitcoin funds when the 36-year-old victim logged in to check the existing value in his account,

According to a statement from the Austrian police, the funds were allegedly moved to an unidentified account, the details of which couldn’t be traced yet.

Although the Austrian Cyber Crime Department is still trying to locate the account, most of the officials feel that the account is untraceable.

This incident once again brings up the impending hacking threats associated with a public, unsecured WiFi network.

While it has not yet been confirmed whether the man’s account was previously unethically accessed even before he used the restaurant’s WiFi network, this cannot in any way undermine the risks that inevitably come with connecting to a public wireless network.

Cryptocurrencies like Ether and Bitcoin have always come with security concerns.

This is exactly why the people who invest and own these digital currencies should be all the more cautious about using specific networks susceptible to hacking.

The internet is a public network where every move you make can be recorded and manipulated. So, if you’re really concerned about security, it’s high time you consider using a VPN to avoid hacking attacks.

But What Exactly Is A VPN?

A Virtual Private Network, widely known as a VPN, is a well-protected group of discrete networks that act as a tunnel among various devices.

This network is collectively used for protecting your private web history from being monitored and interfered upon.

VPN is also extensively used for protection against censorship, as it masks the IP address and location of any device that’s connected to it.

Why Should You Use A VPN?

There are many key reasons why you should use a VPN. Some of the major ones are listed below.

  • Hiding your IP address to browse through the geographically restricted content from any corner of the globe.
  • Protecting your sensitive data which can otherwise be monitored on public networks.
  • Enjoying uninterrupted and completely secure browsing safe from hacking.
  • Cutting down on the requirements of expensive leased lines in order to establish a connection in remote locations.
  • Reducing the high charges of long-distance/international calls.
  • Offloading the overall cost of support required by your business. VPNs are helpful for average day-to-day business operations as well.
  • Preventing ISPs (Internet Service Providers) from snooping on your online activities while you use public wireless networks.
tablet with vpn

VPN is a well-protected group of discrete networks to illegal intrusions on your gadget or computer

Should You Subscribe To A VPN Or Set Up Your Own?

When it comes to using a VPN, you can either create your own network or use the service from a leading provider of VPN services.

In order to set up your own network, you will first have to choose a particular protocol and then launch your VPN wizard.

But despite the apparent simplicity, in reality this process takes a lot of time and turns out to be extremely challenging for non-technical users.

This is exactly why you need to subscribe to a VPN from a local or global service provider.

Nowadays, you will find many leading VPN providers that do not only offer the best services but also protect your privacy through their strong encryptions.

So, if you’re looking to enjoy simple, hassle free, remote personal connectivity, subscribe to a VPN network right away.

This will help you eliminate the risk that your device is susceptible to hacking over a public network, thus avoiding scenarios like what happened in Austria recently.

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