The Economic Times of India’s Global Business Summit took place this week, and it was inevitable that the cryptocurrency sector was going to be one of the topics discussed at length. What wasn’t foreseen, however, was Apple co-founder Steve Wozniak coming forward and saying he was a victim of a Bitcoin (available on Coinbase) scam.

It’s been known for quite some that Bitcoin (available on Coinbase), as well as every other virtual currency, holds a lot of risks. But when the co-founder of one of the largest technology companies in the world falls into its trap, then we know that anyone is susceptible to being duped by cryptocurrency scams.

The Bitcoin (available on Coinbase) Scam

According to Wozniak, he had seven Bitcoin (available on Coinbase)s stolen from him through fraud. Essentially what happened is this: an individual purchased the Bitcoin (available on Coinbase)s from the 67-year old American entrepreneur and inventor through a credit card, and then proceeded to terminate the credit card payment. The scariest part of it all, according to Steve Wozniak, was just how easy it was to steal the Bitcoin (available on Coinbase)s.

Sure, at first glance, seven Bitcoin (available on Coinbase)s might not seem like a lot. However, it’s actually the opposite. At the time, Wozniak purchased the Bitcoin (available on Coinbase)s back when it was valued at $700, but today, his loss is valued at roughly $71,400. Personally, this would have scared me off right away, but that wasn’t the case for the Apple co-founder.