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Louise Kinnear
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Louise Kinnear   My Press Releases

When Trust Is Broken

Published on 10/28/2018
For additional information  Click Here

It irks me when I find that a person has taken another for the proverbial "ride".


I have a dear friend, who had a severe stroke a number of years ago.

At first he was not able to speak at all but, thanks be to our DAD, over time, he recovered sufficiently to be able to do a daily job and earn his own keep again.

The stroke did leave its mark though, by damaging the part of his brain that can visualise figures-if he writes them down however, it solves that problem.

He trusted someone in the latter part of 2017 to invest some money on his behalf in bitcoin (Luno wallet).

During a recent conversation, he asked if I would be able to have a look for him, as he was told that the account got hacked and that he had lost everything.


In ZAR currency, the amount he invested was R3500.00. Seems to have been the wrong time to invest then I think, as the value of bitcoin was at a high then.


After spending some time at getting access to the wallet whilst being on the phone with him, I found that monies were withdrawn in March of this year and the balance is really nothing to talk about.

My thoughts on this are: if the account was hacked, would the person not withdraw everything? (it was taken to another bitcoin address which makes it unrecoverable to my knowledge).

 

As he has already accepted that he had lost his money, he is happy to just leave the small balance in the wallet until maybe, it will be worth a bit more as bitcoin rises in the future.

I had a look via Google and it does not seem to be a problem to leave the bitcoin and ethereum he still has as long as the site is accessed and not left unattended, it should be ok.


Having seen this happen and knowing that there are myriads of similar cases, causes a person to be very wary of trusting anyone.

As it is so often spelt out here and elsewhere, people do not buy a product or a service- they first "buy" the seller.


If you trust someone, you will usually accept anything they promote to you.

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