Trader loses $1.6m in bitcoin in app mistake

An online trader has claimed to have lost a stunning amount in bitcoin after a simple error, and is begging a tech giant to help get it back.

A cryptocurrency trader claims that they lost £900,000 ($A1.676 million) worth of Bitcoin when they accidentally deleted a WhatsApp photo containing security passwords.

The anonymous Reddit user posted his conundrum on the Bitcoin subreddit as he pleaded with tech savvy individuals for advice on recovering the image in some shape or form.

In the post, the user explained that a friend once gifted him 25 BTC in his wallet – accompanied by a recommendation to introduce “seed words” to protect his investment.

As a form of security, the trader claimed he tried to send a picture showing his passwords to the pal as a means of back-up in the event that something went awry.

The friend immediately told him it was his responsibility and the user removed the photo from the app with the belief that it was stored elsewhere.

However, fast forward to the present day, and the user told Reddit he had bought a new phone and had sought to back up roughly 6000 photos and videos from his old device.

And it was only after seeking the password-filled image, when the trader was shocked to find that it was not there.

“To my horror I think what I must have done when I deleted the picture from his phone I must have checked the options also ‘delete the media in this chat’ and hence it removed it from my phone as well,” he wrote.

“I have spent the past two days trawling through my old pics in the hope that I missed the picture but to no avail.”

The user went on to say that he is now seeking the help of both tech giants and the general public in a bid to retrieve his photo.

He continued: “If I contact WhatsApp will they be able to retrieve the picture? I know the rough date and time, is there any chance they would have saved this file as before it left my phone and arrived at my friends it must have gone through the WhatsApp server?

“I also was wondering how do I contact them about it as if they do look and find it they may realise it’s 12 seed words.

“I know at this point never to store anything like this digitally but at the time this happened I had only been in the crypto world for a few hours.

“Any ideas please.”

Most Redditors responded with some harsh words of advice, issuing tips on how he should be more tech-savvy.

One user wrote: “You can run some recovery software for your phone, and hope you get it. WhatsApp cannot help you, and I wouldn’t trust them with this information even if they could.

“Take some time to learn the basics.”

Another cruelly added: “On the bright side, think of the experience he is gaining.”

However, losing Bitcoin is a lot easier than you think.

Earlier this year, one man lost $510 million in Bitcoin after tossing out his hard drive.

One trader lost out on $2 million in Bitcoin when his crypto password was stolen last month.

The world’s richest Bitcoin trader reportedly lost $5 billion in one month after the Crypto bubble burst last month.

Read More:Trader loses $1.6m in bitcoin in app mistake