Get All Access for $5/mo

Lesson Learned: TV Anchor Shows Off Bitcoin, Is Instantly Robbed A Bitcoin that was shown during a segment on Bloomberg TV was immediately stolen by an observant Reddit user, providing the host and his audience with a valuable lesson about security and digital currency.

By Sam Ro

This story originally appeared on Business Insider

Bloomberg TV

Bloomberg TV's Matt Miller is currently experiencing the "12 Days Of Bitcoin," a series for the business news television station.

On Friday, Miller learned an important lesson. It was an experience that everyone should remember before they start moving their money into the digital currency.

While on air, Miller surprised Bloomberg anchors Adam Johnson and Trish Regan each with $20 worth of Bitcoin.

But as Johnson received the paper gift, he briefly exposed the QR code (see above). This act was effectively like sharing a bank account and PIN number.

Immediately, someone lifted the QR code and stole the $20.

This morning, Miller reported that he had engaged the thief -- someone who goes by "milkywaymasta" -- on Reddit.

Here's "milkywaymasta":

I was watching bloomberg where they are doing the "12 days of bitcoin". The guy that is hosting the series gave bitcoin gift certificates to the other two hosts. One of them opens up the certificate to reveal QR code of the private key. They then proceeded to show a closeup of the QR code in glorious HD for about 10 seconds. Hilarious.
...
I took it, it was only $20 worth. It was exhilarating nevertheless. I'll send it back once Matt gives me a new address since someone else can sweep the old one. A segment on Bitcoin security and the importance of NOT showing the private key and also BIP0038 (Password Encrypted Private Keys) Wallets will be more than enough compensation. Blockchain confirmation and Public key of where i sent the bitcoin.

Miller, however, is done with this person. Here's Miller: "so freaking classic but also a GREAT lesson in bitcoin security! you can keep the $20 -- well earned."

As long as there are no laws in place for such thefts, one could probably argue that the money was indeed "earned."

Regardless, a great lesson.

Here's the Redditors statement and Miller's response from the Reddit thread:

Click to Enlarge+

A Bloomberg TV Host Gifted Bitcoin On Air And It Immediately Got Stolen

Sam is editor of Money Game.  He has been published on Forbes, DealBreaker, and The Fiscal Times.  He was the senior equity analyst for the Forbes Special Situation Survey and Forbes Growth Investor equity newsletters.  Sam has also held positions at James F. Reda & Associates, Brown Brothers Harriman, and Paul Weiss. He holds a BA in Religion from Boston University, and he is a CFA Charterholder.

Disclosure: Sam's investments include ProShares Ultra S&P 500 (SSO) and various equity and bond mutual funds. He does not trade frequently.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business Solutions

Build Investor-Ready Pitches in Minutes with PitchBob

Your AI-powered co-pilot for startup success.

Franchise

How to Create Franchise Videos That Inspire — And Convert Interest Into Action

The best franchise videos don't just inform, they connect emotionally. To capture those kinds of stories, you need to do more than just scripted interviews and staged office shots.

Business News

JPMorgan Chase CEO Jamie Dimon Isn't Worried About AI Taking Over Jobs — Here's Why

Dimon said AI was part of the next wave of tech innovation.

Growing a Business

How to Build Effective Collaborative Business Relationships — Your Step-by-Step Guide

Use this structured framework to form successful partnerships, manage risks and create lasting value for all stakeholders involved.

Buying / Investing in Business

What to Know About Selling Your Business

Selling your business can be both an exciting opportunity and a daunting process. This article will help you learn what you need to know before starting your sale process to ensure you get yourself on the right path to the desired outcome.

Franchise

McDonald's Is Launching the Highly Anticipated Chicken Big Mac in the U.S. — Here's When

The sandwich was a massive hit in the United Kingdom, selling out in just 10 days during its limited run in 2022.