G’day Cardano Members,
Unfortunately, I am contacting you all given all my 42,998 ADA coins were stollen from my Yorio Wallet on 17th May 2003 at 23.49 AEST. I have contacted Yorio(Emurgo) and basically, they have informed me it’s my fault given I have given or left my 12 seed word Phrase also spending password to someone etc. They have also stated that nothing can be done also that they cannot track or trace the transfer etc?
I feel absolutely powerless more so if the fact that blockchain technology is supposed to be the way of the financial future but when someone has stolen your details and then all your ADA that the transaction cannot be tracked or traced etc. It just doesn’t make any sense at all as this makes blockchain technology a criminal’s paradise. I am just a 65-year pensioner who invested my last $60,000 as I purchased Cardano coins in May 2021 from advice from a good friend. Although my stolen ADA was only worth $30,019AUD on 17/04/23 I had great faith and hope in the Cardano blockchain. Surely there is way to help track and trace a fraudulent transaction etc?
If any other member has had their coins stolen and was able to get them back, I would love to hear from you?
I will show the address my ADA was sent to:
If by chance anyone knows this receive address it would be great news and would be very appreciated. To make matters worse I just found out that I can now receive my Sundaeswap reward also reverse tokens via the Yorio Wallet but now I can’t even claim them given my Yorio wallet states that I have a nil ADA balance. Surely this blockchain technology is better than this?
No, there is sadly no way to get your ADA back once the transaction has been confirmed by the network. That’s the downside of not having middle men in control.
We are very early in this technology and in the current state this tech is definitly not for everyone, as you need some basic knowledge about online security and also about what you are doing with your tokens.
The best advice i can give you, report it to the police. maybe you will be lucky and the fraudster will be convicted sometime, then you might get your funds back.
You could also monitor that specific address and wait until the fraudster transfer those funds on a CEX and then inform the CEX about those stolen funds.
Im really sorry.
Thank for your email also advice mate as it is appreciated .I have reported it to the Australian Cyber Security Centre which is the police but I have heard nothing back from them as yet.
Mate I can only assume that given I’m currently still staying in the same hotel that I was actually using the public wifi and that is how they got me?
Mate you mentioned the CEX what is that and how can that be helpful!
Did you somehow expose your seedphrase? Or stored it digitaly?
a CEX is a centralized exchange, like Binance, Coinbase etc.
Yes my Yorio Wallet details are stored digitally but I have never shown those details to anyone. Mate given those ADA were transferred from my wallet to that address I put up online would they have also used my spending password? If yes then somehow all my passwords and bank account will also be also vulnerable now?
No, if they had access to your seedphrase (24 words), they dont need your spending password.
First of all, let me start by saying how incredibly sorry I am to hear that you suffered such a loss. We hate to see situations like this, because we know how hard you’ve worked to build up your $ADA. Please accept our sincerest condolences.
To clear up a few points:
- We aren’t blaming you. There are a lot of variables that go into a case like this, any one of which can lead to loss. It’s just the reality of non-custodial ownership, that each user is responsible for his/her own security. The wallet is secure, and so there is only one way for someone to gain access to your funds: your private key. Whether that be someone gaining access to your specific device, or to your seed phrase, the end result is the same.
- This type of loss can originate from malware/key logger on your device, someone gaining access to a file/image you saved with your passphrase, entering your passphrase on a phishing site, creating a transaction on a phishing site, gaining physical access to the words you wrote down, etc.
- Unfortunately, there is nothing we can do to trace or reverse this transaction. We would recommend contacting legal authorities, and it is possible to hire someone to try to follow the $ADA; however, this is not something we offer at EMURGO.
- One thing we strongly recommend in the future will be the use of a hardware wallet like the Ledger Nano series. This piece of hardware will add a strong layer of protection that would require physical access to the hardware wallet to generate a transaction, thus safeguarding you from some forms of hacks.
- Be wary of people/services offering to recover your $ADA. Due to the immutability of Cardano, it is a highly unlikely scenario that you would be able to recover the $ADA. We are not telling you not to try; however, be mindful that scammers may try to take advantage of your misfortune.
- While it is important to keep your spending password safe, if someone gains access to your seed phrase, they do not need your spending password to move your $ADA. Your words ARE your $ADA essentially, and so it is absolutely imperative no one ever gains access to your seed phrase.
- Fabian’s suggestions are all also really insightful, and he is absolutely correct.
We have created a security checklist that I hope can help you in the future: Yoroi Wallet 101: A Checklist for Safely Storing Your Cardano ADA - EMURGO
Truly, we wish there was something we could do in cases like this, but unfortunately there just isn’t anything we can do. We hope you’re able to recover your $ADA and/or rebuild your holdings. If you ever need help with good security practices, be sure to ask us on Twitter (twitter.com/yoroiwallet), and we’ll be happy to point you in the right direction.