Black Friday Sale! 50% Off All Access

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

Entrepreneur+ Black Friday Sale

Our biggest sale — Get unlimited access to Entrepreneur.com at an unbeatable price. Use code SAVE50 at checkout.*

Claim Offer

*Offer only available to new subscribers

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.

Business News

'Father Time Always Wins': Warren Buffett, 94, Just Announced Major Changes to His Plan to Give Away His Money

Warren Buffett continued his Thanksgiving tradition with a $1.1 billion donation of Berkshire Hathaway stock to four of his family's foundations.

Business News

This Is What Black Friday and Holiday Shoppers Are Really Looking for This Season, According to New Research

Shopify's annual holiday survey revealed some surprising news about retail spending this holiday season.

Living

These Are the 'Wealthiest and Safest' Places to Retire in the U.S. None of Them Are in Florida — and 2 States Swept the List.

More than 338,000 U.S. residents retired to a new home in 2023 — a 44% increase year over year.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Health & Wellness

Why Personal Health and Wellness Are Key to Business Longevity

Here's why health truly is wealth, especially if you want to be a good business leader.