A COMMON mistake has left a famous online streamer devastated and $1million poorer.
Martin Disalvo said he lost the huge sum of Bitcoin cash when he rebooted his computer and couldn’t remember his passwords.
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The influencer, who boasts more than 3.6 million followers on Instagram, said he was facing issues with the camera on his computer so he asked his friend to format his device.
To format a computer means to erase all of the data on the hard drive; the user then reinstalls Windows or macOS for a fresh start.
Martin, also known as Coscu, claimed he asked his friend to save some local files before formatting the machine, but the friend forgot and deleted all of the files on the system – including the passwords to Martin’s cryptocurrency wallets.
His wallets reportedly contain at least 10 Bitcoins, each currently worth about $66,700 (£52,400).
The Argentinian star said he lost more than $660,000 (£518,000).
He also reported lost about $800,000 (£628,000) worth of character and weapons skins – cosmetics that modify the appearances of weapons – in the popular first-person shooter game Counter-Strike.
Some of Martin’s followers criticised him for being irresponsible with his money, while others expressed their support and sympathy.
It is not clear whether any steps have been taken – or can be taken – to recover the massive losses.
Last month, it was revealed a dad was preparing to sue his local council for £1billion over a missing hard drive containing Bitcoin worth £275million.
James Howells said he launched a legal fight to retrieve the Bitcoin fortune that was accidentally binned during an office clearout.
The computer engineer had put the hard drive containing the Bitcoin in a black bag along with other parts during a spring clean in 2013.
He claimed his ex took the rubbish to the dump in Newport, Gwent – and that he had been battling officials for 10 years for permissions to get it back.
James told The Sun: “It’s a bit like if you’re neighbours and you kick your football over next door’s fence – they have to reasonably give back your property.
“They can’t instead build a brick wall over your property, which is effectively what Newport City Council has done by continuing to pile waste on it.”
He was last year said to be planning the world’s biggest treasure hunt, with a reward of £10million, to locate the missing Bitcoin hard drive – which he believed was still at the rubbish dump in Newport.
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Five risks of crypto investments
BELOW we round up five risks of investing in cryptocurrencies.
Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market.
Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
Marketing materials: Firms may overstate the returns of products or understate the risks involved