Bitcoin Forum

There you go... another DAO....

"Steemit announced on their website that they were hacked.

The attack, according to them, has compromised about 260 accounts. A little less than US$ 85,000 worth of Steem Dollars and Steem are reported to have been taken by the attackers.

In the security announcement CEO of Steemit Ned Scott said:

“User accounts and wallets are not at risk, and we hope to soon reactivate the Steemit website to normal order. Any users whose accounts were compromised will be completely reimbursed.”

Law enforcement informed

At the moment it appears that the virtual currency itself has not been compromised but only the Steemit website has had issues. Steemit have informed their partner exchange Bittrex, who are helping with the investigation of the hacking incident. Steemit have also informed authorities including the police and the FBI of the hack.

What is being done

Some hours later Steemit have released another statement which says that they have been able to coordinate elected witnesses to secure compromised accounts which have balances of more than US$ 100. Ned Scott the CEO further states that:

“Within the next 48 hours, Steemit will begin to allow all newly secured accounts to reset their passwords simply by logging in with the same Facebook or Reddit credentials that were used to register in the first place. This easy process will work for the vast majority of the potentially compromised accounts. All of these account holders will regain full access to their funds and their original account name.”

Refund for users

Bittrex, on their part, temporarily suspended deposit and withdrawal of Steem and Steem Dollars at their exchange.

Steem has asked its users to contact their support team at contact@steemit.com if their account was not created through facebook or reddit.

For the users that used their social networking Ids to create the account, they will be able to login using the same credentials they originally used within 48 hours.

It is expected that most users will be able to regain full access to accounts and funds. Steem it is advising their users to reset account passwords. Ned Scott in his communique has assured users again that “Any Steem or Steem Dollars stolen from compromised accounts will be fully refunded by Steemit.”

Source: http://cointelegraph.com/news/steemit-website-hacked-ceo-promises-to-reset-accounts-in-48-hours

That statement implies there will be a small number who won't be able to regain full access to accounts and funds. What about them? Don't they matter if they are in a small minority, and the majority get their money back?

Was expected dont you think ??
The think is how its gonna end up , what would be their future moves and so on..
I cant not recall a single website it can not be hacked, we have seen it everywhere and we continue see that kind of incidents the question is how they will proceed in future and handle it , and last but not least every crypto currency has its own drama!   ;) but these moments are the perfect time for FUDers, mini PnD, raise your position or even make some nice & fast profit!

You're right, but the question here is how they are handling the funds (i.e. distribution). As far as I know there was no ICO/crowdsale in steem, but I'm not sure that everything is transparent.

As i understand it, Steemit is a platform where you get paid for your social media activity.  This means you run their software (that you have trust in) and use your social media credentials to log in?

Wow, they are data rich, they know everything about you then?  So there is more to lose than just a few tokens?  Sounds like a "False flag" attack

https://i.imgflip.com/17fs50.jpg (https://imgflip.com/i/17fs50)

https://i.imgflip.com/17fs27.jpg (https://imgflip.com/i/17fs27) (https://imgflip.com/memegenerator)

There is nothing wrong with a good Ponzi.  I love them.  I can make a bob or two on a good Ponzi.  You need to be an early adopter but you also need to get out early, just before people are asked to "doubble down".

Im thinking "false flag attack".  It does happen.  Mark Karpeles, the CEO  of Mt Gox, has been released today by Japanese authorities on bail 10 months after being charged with embezzlement. He has reportedly paid a bail fee of $95k.

This was going to happen at some point, especially when they are building a pretty impressive user database, this will no doubt be a target again as thei usserbase grows, I hope they nip this in the bud early on.

Good that it happened early. A late hack would mean more naive people to lose their fund.

I agree with you both, but what they are trying to do something that requires a lot of funds, not to mention that I already raised some concerns (https://bitcointalk.org/index.php?topic=1550088.0) about how it will evolve, and if this model would work. I will repeat that I didn't make deep researches on STEEM, but the way I see it... it will FAIL.

I dont think it will fail. It will be proped up by western governments as it is a crackingly good surveillance tool

bad news is steem coin is several day lauch is get hack people
i hope is clear and happy ending and unfrozen in bittrex
and will can trading again in bittrex with steem coin

Nothing is safe in crypto. Everything is hackable.. :D

I think its not crypto its website script they are using for their website. There are lots of hackers around who can easily hack websites and access user accounts. I see this as website hack rather than steemit blockchain being hacked.

I have 0 balance in my steemit account so i don't think my account is also hacked.  ;D

There is something else to worry about. What will happen with the price once trading is enabled on Bittrex? I would sell right away if I had any.

This shit doesnt have 10% of ethereum potential and it wont be able to hold its price. I own 0 steem and im not planning to buy any, but if i would be you i'd sell minimum 50% and up to 75% of the stake. And again, if i would be you, i would invest in ethereum since its obvious ( 90% chance, my estimation ) that ethereum will go above 15$ after the fork and soon after that back to 20$. Wether or not the fork will pass, but the "crysis" period will be gone.
It's just my opinion,  but atm ethereum is the only crypto out there with highest chance of growth, bitcoin halved and as i expected the halving itself didnt bring any more value, therefore theres no profit to be made with bitcoin.

From what i can tell everyone knows everything about everyone else
anyway since all your activity is logged on a public blockchain.

Yeah, right. We all saw how EF handled $200Mn+ in funds. That's why serious investors like Barry Silbert are asking some questions (https://twitter.com/barrysilbert/status/753689652020797440). But you, of course, know better.


Yet another bs. Who do you think moves the Bitcoin price? People with $5 in their pockets? It all comes to supply and demand. Serious people are now waiting. It can't happen in 5 days.

Ofcourse i know better than a clueless person that didnt bother to check, here;s your list https://medium.com/@AroundTheBlock_/a-current-list-of-use-cases-for-ethereum-b8caa5807553#.u4gzcaioq
Serious people are waiting?  What exactly, the day after tomorrow ? People buy bitcoin to make speculation and therefore profit. And goin on with that in mind, its obvious altcoins have much more profit potential, it just takes some research to do good investments.

It's true. I am not an eth fan but they have a hard-fork planed for the 20th of this month. Finally!

Also, Coinbase is continuing to cosy up to ethereum with its addition of direct buy methods later on this month. After the integration is complete you will be able to perform direct buy for ethereum with your credit card - just as you can for bitcoin.  

I guess Coinbase is waiting for the new "Geth" file....  So buy "eth" with your "steem" which you can probably do anonymously via shapshift ASAP, hold for a month, then sell?  Sounds perfect!

As for the BTC halfing.  two months ago btc was £300, today £500, two months time £600.  its looking like the halving is going well.  markets just take time to adjust

From what I was reading yesterday, there doesn't seem to be anything shady going on - at least not on Steem's side of
things. The coin itself wasn't affected, only the social platform. The powers that be over @ Steem are saying that anyone
whose funds were taken during the attack will be fully reimbursed.

Honestly i didnt research steem . Steem's big plus is their social platform and just that ? If so this is a good case to make speculation on and people that got in early made some money, but thats it. Even the dumbest person around (me) can tell it is never going to have any succes, maybe 1 in a billion chance. Social platforms are at their peaks and they are already BRANDS ( facebook ) . Even if, by miracle, someone create a FB killer, no one will use it because it wont be called FB.

You call Barry Silbert a clueless person? ROFLMAO!!!!!!!

Barry Silbert? the Founder of Digital Currency Group?  yep, i would love to know his current take on the crypto world.  He is a reputable chap in crypto for sure.  But lets remember, no one know the future.  Only time will tell.  Make your bets first...  then we spin the wheel.

I don't care who he is, but as long as he dares to ask such a stupid question without looking for an answer himself first, which didnt take me more than 30seconds, then yes, he is a clueless person. Its 2016 we all have acces to information, even he does.

Please find yourself one of the 17635364 threads about Ethereum and give your "opinions" there!

What seems really stupid is that all someone needs is your password to steemit, and they have access to all of your private keys. Also, my Windows miner no longer works because they implemented another hardfork due to this. (Oh well, didn't have any luck anyway.) Steem is too transparent. If I were a hacker, I can easily find out anyone's balance and select juicy targets that I would like to hack. There is probably a way around this, to make your tokens more secure, but I only have my 5 free steem power right now, so I am not going to bother researching it.

The hacker or steemit transferred my steem to bittrex 6 hours ago. So attack or scam isn't over yet. No response from steemit support.  ???

Where's Stan to tell us that "It's Safer Than a Swiss Bank!"?

Then just like Ethereum, Steem is not a trustless, permissionless, decentralized block chain. But this is expected, because all PoS block chains must be centralized with checkpoints and thus are under top-down control (https://bitcointalk.org/index.php?topic=1549494.0).

Steem is a corporate controlled block chain (https://bitcointalk.org/index.php?topic=1548369.msg15597218#msg15597218), which is the antithesis of why we created block chains to remove us from the certain failure of democracy and governance (http://esr.ibiblio.org/?p=984). We need block chains to be immutable and changable by no one after they are launched. I'll be trying to demonstrate a new design for a block chain which has this immutable property (even more so than Satoshi's original design).

PoS rules, no matter what you say! :D

https://steemit.com/steemit/@steemit3/third-update-to-july-14th-security-announcement-account-recovery-begins

what now will be with all steem dollars?

Thats why example cloudflare is good opinion of websites/pools/blockchain systems like steemit.  :)

This is now beyond ridiculous and clearly doesn't help Steemit's reputation either which has been on a sharp downward tangent for weeks now as reflected in a price sub $1.00. Poor security architecture!

"I wuz hacked"

Know how many times i have posted that parody comment around here ?
Well.. i have about 8,000 comments and that would be about half of them.

You people are fucking stupid period /.

Plenty of this retarded shit made me laugh so lets run through it shall we ?

CEO ?

AHHAHAHHAHAHAHHAHA ohh jeez that made me laugh  :D

yuppers i be a ponzi-coin CEO'z ya'll !!!!! ROFL

Next up..

Them darn haxors at it again  :D
Lets bask in a billion in missing funds for a minute shall we ?
oh ?
You forget Kidiots and investards ?

What never heard of Alex Green of Mintpal ?
Care ? Of fucking course you all don't LOL
..so i won't even bother talking about it ..fuck it HHAHAHAA

Did you know your MCXnow "points' are being revived RIGHT NOW by a new mystery figure here ?
Yup some mysterious character apparently bought the Database of user logins etc to MCXnow
And he is resurrected the Exchange and is posting on the forum here about it.

Next up ? Gox.
Nuff said ?
No.. because most of you are idiot noobs who showed up after it all happened.
And yeah i warned people like crazy about it loudly as much as i could LONG before it went down.
Apparently you were all so utterly obsessed with being a dipshit douche cheerleader you were willing to look the other way on the warnings / red-flags.. then it bit you in the ass or should i say it Bitcoinbuilder'd you ?
..Google it ;)
And last i seen Marky Mark was in shit in the media for posting Sunset pic's on the beach via twitter having himself a little martini.
What happened ?
He stole a fuck load of money then lied his ass off about it all..
How do we know ?
He claimed he was hacked then later he had his lawyer announce that EUREKA !!!!!!!!!!!!!!!!!!!!!
I gone doen and foundz me a pickup truck load of Bitkoinz !!!111111111
..in his couch he said on a fucking USB drive.
So.................
I guess he was not "hacked" after all huh ?  ::)

Next up ?

CRYPTSY.

Yup GOVT receivership and now a class action lawsuit has been launched.
Hey JShock.. ohhhh how the mighty have fallen huh bitch ? LOL
Remember being a big tough guy shooting your mouth off at me here in this forum section ?
Demanding Cryptsy had NEVER been hacked ? APPARENTLY YOU WERE wrong.. MORE THAN ONCE.

What happened later ?
Vern ran to China and was busted starting a new exchange then had to shut it down. (Because he was exposed)
Mullick went into hiding 1 year ago..
(JShock) Jim Shockney was last seen posting advertisements on Social Media for a scam POS coin project taken over by a scammer crew known as Stakeminers run by Leroy Fodor and Michael Wilterdink.

..You would think that Jimmy boy would lower his smug ass cocky mouthy dick-holster after getting caught up in so much bullshit over the years.
What you think Cryptsy was Jim Shockney and Paul Vernon's first "Enterprise" online ?
Ohhhhh heeeeell no !
Those boys have been at it scamming online long before Crypto coins existed.
Foopile Penny Auction scam ring a bell ?
Oh yeah Cryptsy is reputable.. run by 3 or more of the head Cryptsy staff / Owners who ran a porn advertising scam business way back.. associated with scammy fucks like Marshall "Shelby Drifting" Long "Founder of Cryptsy" LOL

Ahhhhhh GOD this amused my balls off !
This is so entertaining my balls are tingling :o
The rank obscene vulgar display of incessant stupidity in crypto is the ultimate show !
Shit... get a tub of popcorn and watch the retards fumble around bumping into each other for PROFITZZZZ
Cause cause cause i'm a supporter yo!!!!

So lets carry on with the LOL'z

Bittrex, on their part, temporarily suspended deposit ?

HAHAHHAHAHHAHAHAHHAHAHAH HAHGAHHA HAhhahahahahahahahahhaha ahhahahahhahaha hahahahha

Centralized exchange freezes market on stolen coins.... oh how centralized of you ROFL
Hey can we get a fork over here ? call it ETS ? HA HAH HAHAHH AHAHHAHAHHAHHAHAHAHHA

Oh and there is more LOL'z too !

Law enforcement informed ?

HAHHAHAHHAHAHHAHAH hahahhahahahha hahahhahha hahahahhahahahahhahahahhahahahahahahhahahha

FREE MARKET NO REGULATIONS FREE MARKET NO LAWS DECENTRALIZED COINZ !!!!


and...

we..

called the cops ROFL ROFL ROFL LOL ROFL LOL FORLOLF LOL
ahahhahahahhahahahahhahahahahhahahahahahhahahhahahahahahhahahahahhahahhahhahhhh hahahahahha

For fuck sakes you shit heads make me laugh my ballz off !!!!

What fucking part of crypto *DO* you understand ?
Any of it ?

Cash + Retards = Crypto /.

PS:
Guess what i said in 2013 1,00000000000 times ?
They would rip you off on the way out the door and it's happened infinity time after time as i predicted !
I was hacked = people who run centralized crypto services for profit Ultimate way to cash out for the last time.. or if they simply want to borrow a few million for some reason or another..

It is bad news who will make steemit's price going down and should there are updating from the developer of steemit if their coin want survive on digital currency, or it will become ending of steemit.

I believe the market has reacted to the hack already and the price has bottom out, there is no doubt about it there is nothing decentralised about steemit and the model of voting is rigged in favour of some users.

That's already an old news and the steemit is already making a recovery for this and we won't for debating about this cases again it's too long for discussing that. and especially that is already outdated  ???.

It is an old news, but STEEM was dumped right after the hack. The dump started in July 15 (the date I created this thread) and lasted until July 19, when there was a new pump. In July 19 the price and market cap of STEEM was at its peak and it is in decline ever since. See what I mean:

https://i.imgur.com/ORjOPw9.png

STEEM have lost about 400% of its value in ~50 days.

yes you are right.

Yes this is from way back July. But there is this possibility that it can happen again. We still have to be careful. If you got funds there withdraw it already. Those hacks from July are questionable it is like they are making  a statement that their website can be hacked. Next time they will say it again. (Even if it there is no real hack) That is an old story from all the scammers.

Steem was too high, the price before the pump is reasonable, it is not worth to be a top 10 coin, Steem is a piece of shit.