Users reported that BTC funds were transferred from older Alby wallets without warning. Alby updated its terms in March to allow full balance removal after 12 months of inactivity. While current accounts are self-custodied, thousands of legacy wallets were still controlled by the company.
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373 sats \ 20 replies \ @Undisciplined 10 Jun
I’m not sure it’s right to say “without warning”. I recall them telling people that they were not going to support custodial wallets anymore.
That’s why I started using Alby Hub.
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57 sats \ 18 replies \ @kepford 10 Jun
Its funny when a paragraph literally contradicts itself
Without warning
The warning.
I mean I got the warning and moved my funds... the small amount I had in it.
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171 sats \ 2 replies \ @teemupleb 10 Jun
This is why you never keep any meaningful amounts in custodial wallets.
They might change their terms of service, you don’t read the email notifications they send, and after 12 months of inactivity your money is gone.
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60 sats \ 1 reply \ @kepford 10 Jun
I'm a firm believer that the average American is far to coddled. The state does this and its made people weak and foolish. It encourages laziness. Its a rotting force on a people. We see learned helplessness all around us.
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21 sats \ 0 replies \ @Scoresby 23h
This is true. it's like alcohol: feels good, but mainly because it dulls your ability to pay attention to things.
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35 sats \ 14 replies \ @Undisciplined 10 Jun
Literally, over a year of repeatedly warning their users.
As someone who once had a job that required getting people to follow instructions and warnings, I am very frustrated on Alby’s behalf.
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42 sats \ 12 replies \ @Rothbardian_fanatic 10 Jun
Follow directions?!?!?! Who ever heard of such useless activity? Engineers and coders are kind of noted for not following directions until they are absolutely stuck and cannot move without a hint. I’ve known too many engineers and coders to see them reading manuals, directions or even just hints. Mostly they revert to Google or now AI.
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52 sats \ 1 reply \ @kepford 10 Jun
Over generalization. Some engineers read manuals cover to cover. Its very common. RTFM for example. But yeah, there are plenty that don't. Main reason? Documentation is often terrible and out of date.
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21 sats \ 0 replies \ @Rothbardian_fanatic 10 Jun
To say nothing of being really bad translations of the original language. Once-upon-a-time, I helped translate instructions for a kidney dialysis machine. It would have been horrible to send the directions out the way they were originally translated.
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20 sats \ 9 replies \ @Undisciplined 10 Jun
Nobody follows directions. That's why trying to get them to sucks.
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42 sats \ 7 replies \ @kepford 10 Jun
I'd argue engineers are MUCH more likely than the general public. The average person never reads directions.
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0 sats \ 0 replies \ @Rothbardian_fanatic 10 Jun
It sucks extremely badly if you need to get one very specific direction where the device has a lot of mods or versions. Nearly impossible, even with serial numbers and item numbers.
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42 sats \ 0 replies \ @kepford 10 Jun
Yeah... people are the worst. Everyone should have to deal with the public for a few years as a job. You learn a lot about people. Its not all good.
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42 sats \ 0 replies \ @bumi 10 Jun
yep, that has been widely announced since early 2024. Many warnings and notifications about the shut down have been sent everywhere...
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395 sats \ 0 replies \ @bumi 10 Jun
The old Alby node has been shut down looong ago. This is generally well known and this has been widely discussed also here on stacker news.
Many notifications have been sent and announcements have been made over the period of more than 1.5 years.
Old dormant and abandoned accounts who did not do anything in that suuuper long period are affected and now have to go through support...
Alby has been fully focused on Alby Hub since end of 2023.
Set up your self-sovereign Alby Hub! Maybe this is also a good reminder for you.
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3 sats \ 0 replies \ @0xbitcoiner 10 Jun
I remember getting pinged about this, so I sorted out an alternate wallet right away. It wasn't like they didn't warn us!
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10 sats \ 0 replies \ @The_Daniel 10 Jun
This is always a problem with users who don’t pay attention and think that custodial wallets are meant for long-term storage.
Back in 2023, BlueWallet shut down its public Lightning node because they saw a large increase in usage, most likely due to Nostr zapping. They posted some messages on their blog and social media but didn’t have a way to contact any of their users directly. To this day I still run into people who gave up on Lightning because they had sats on BlueWallet that they lost, and they assumed Lightning itself didn’t work.
If you have money stored on a website, or in an app, and you don’t have the keys, you should assume it’s just an IOU. It’s not anyone’s responsibility but yours to take ownership. It wasn’t stolen from you. You abandoned it.
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0 sats \ 0 replies \ @TheBTCManual 21h
Lol they gave you a year to move funds that take a maximum of 2 minutes to transfer and you're moaning its turned into alby credits! Some people can't be saved
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0 sats \ 1 reply \ @ek 10 Jun
not your keys, not your coins
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0 sats \ 0 replies \ @Rothbardian_fanatic 10 Jun
Yes, and it smacks some people right in the face, every now and then.
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