On February 22, a post appeared on Reddit describing a theft of about 100,000 BCH (Bitcoin Cash) and 1,500 BTC (Bitcoin). According to all the information published so far, the already deleted post was allegedly published by Dreamhost founder Josh Joneson, who claimed that he lost cryptocurrencies amounting to about $ 45 million.

The hack was allegedly carried out through the so-called "Sim Swap", and if this information is true, it would be one of the largest hacks of this type in history. In a desperate attempt to reverse the hack, Josh Jones wrote:

“I am asking the community and the miners for help. I still have the private keys. I offer also an attractive reward to those who can help me.”

Of course, this did not go unnoticed, and a wave of criticism poured on Josh Jones for holding so many cryptocurrencies in his hot wallet. Dovey Wan, one of the chief partners of the Primitive Ventures crypto fund, pointed out that such behavior was irresponsible and described the attack as “truly brutal”.

The only way this hack could be reversed is, according to Wan, double-spending, which could have disastrous consequences for the whole Bitcoin Cash. But Wan is of the opinion that the end of this cryptocurrency is inexorably approaching and double-spending would only speed it up. But again, also big players can be wrong. So, if you don't want to end up like Josh Jones, you should do everything possible to keep your cryptocurrencies in secure offline wallets.