Bitcoin Forum

http://www.razor-forex.com/2016/10/polish-exchange-bitcurex-looses-2300.html

The hack (?) took place on 13 October, they blame 3rd party interference in their data systems, in their statement they don't use term 'hack' or 'theft' but 'damage to the IT systems'.

Site is down with vague statement and some service opt out/refund request form https://bitcurex.com/ (in Polish)

Their official btctalk thread: https://bitcointalk.org/index.php?topic=792350.0

I have never heard of them. How will the refund anyone ? They can't. This seems to be a thing going around where exchanges suddenly lose a whole lot of volume. Makes you wonder if it's on purpose or not.

Anyway an interesting read none the less.

I feel it's a bit irresponsible not to alert users from the begin. thats why I don't like to have my funds in one of those Exchanges. In most of the cases I made fast trades, in amounts that I will need for the week.

What is this with the total of 2,3k btc and why are not get listed in the exchange volume list? I guess are this a local exchange? what the hell about the fuckin trying for making new scenarios. This is my first time heard about the picture exchange.

Highly doubtful they actually got hacked.  I'd be willing to bet they took the 2300 btc and ran, just like every other exchange has done in the past.  Who's gonna hold them accountable?  No-one.  Another millionaire borne, from the rest of us losing out. 

Never keep your funds on exchanges.

 No this one is real. Every other exchange that got hacked starting with MtGox was faked but this one is real. ROFLMAO

Why does anyone ever use or trust a Bitcoin exchange now?  If this doesn't stop people are going to believe bitcoiners are nothing more than developmentally disabled idiots playing with money.

It is not the first and not the last time when exchange is not telling its users about problems they are having. It is common policy not to worry people.
Instead they always play dumb and 'everything is OK" - until the worst case scenario become reality and they can't no longer keep it under control.

With Mt.Gox was the same.

Wow....Not another one.

It reminds of that cartoon "Rocky and Bullwinkle." ( https://www.youtube.com/watch?v=kRW7pITY5Cg )

Bullwinkle: "Hey, Rocky.  Watch me pull a rabbit out of my hat."

Rocky: "Oh, no! NOT AGAIN?"

Bullwinkle: "See!  Nothing up my sleeve."


Bullwinkle: "Hmm.  I think I used the wrong hat."

Rocky:  "And now, back to our show."

http://imgur.com/a/O1Dox

Oh well. It doesnt even come as a surprise anymore and yes it does makes one wonder, what is stopping this exchanges from stealing the customers coins then citing 'hack' blah blah blah. And from what I can see on the article, they're even blaming this on the "errors"  of some third-party system they're using?

As for the refund, I hope it happens. Especially since, according to their history, they've previously suffered from a 'hack' on their hot-wallets before so maybe now they have enough funds on cold-wallets to cover the 'refunds'?  Hopefull but doubtful.

Well, Bitfinex suffered loss of 119,756 BTC far more than Bitcurex and they are still operational. 2300 BTC is only about $1.5 million.
But from the other hand, I don't know what was their total volume prior to this hack, but considered that they are local exchange it might be everything they had.

Never heard of them, chances are they saw it was going to be more profitable to make money by running away with $1.5m rather than wait for clients to slowly give them their money through fees and other means. It's a shame, but chances are it would have been better to simply exchange on a bigger one.

This is not new, That is the main reason that before going for any new exchange we have to check everything, but even after they becoming old exchange any time they can scam it, by saying that they got hack, or stolen.

This hacking thing, if it indeed took place, seems to be pretty common nowadays. I have not heard of bitcurrex before and the fact that they are not that large a company may have been the reason that they got hacked easily. The bigger ones are surely taking security to another level, what with the recent events. While these smaller exchanges could be prone to hacking because they don't have the same funds at their disposal.

It is time for decentralized exchanges to take the forefront.....  the whole exchange scam has become such a load of rubbish.

This is sad news indeed. What happens to investors bitcoins,they shall be refunded? They say damage to IT systems,not hack/theft...So, they are resposible and would pay the investor? Something fishy here,while bitcoin price is surging....

it seems like every exchange service is starting to realize "getting hacked" is more profitable for them than running a legit exchange service. i mean look at bitfinex they were earning what only fees and other profit but after they hack they are richer by 120,000 bitcoin :D


because there is no alternative for trading!

Never used them and i think 2300 btc is quite heavy amount so chances of this being inside job of the exchanger employ or the owner is also quite likely. We need decentralized exchange as soon as possible, what bitsquare is doing right now? Can they be considered as decentralized exchanger?

I am not surprised and I am afraid that more "hacks" like this will follow soon, people need to learn from previous mistakes and start realizing before it's too late that keeping their Bitcoins in centralized exchanges and online wallets is very risky.
Any predictions on who's next? ::)

One more exchange goes away. To be honest I didn't hear about this exchange site, this is my first time to hear they exists and in same moment I found out they lost all the coins they had.
Bad luck, damage on their servers, hack or what ever it is (literally can be anything) 2300 btc is big amount to be lost. Well this becomes usual practice, from time to time we see some exchange site goes down. I hope this will not stop this nice increase that bitcoin achieved in last couple days.

Not enough demand in the decentralized exchange site are made the people are not interested with it, they just think about how to gain money and money not careful about the security of the system, please correct me if I'm wrong.

Well another one bites the dust. Is anyone actually surprised any more? These Bitcoin exchanges are lining their own pockets with customers' money and then blaming a fake security breach to cover their butts.
101 Bitcoin Funds Embezzling 2016 Edition

Ikr, and the thing is they got hacked not once but twice and yet people are still using their services  ???  I mean it's not possible to be 100% certain they did it but surely after the first hack, people would be less trusting right?? ok fine forget and forgive.. but then a second hack and people are still happy to trust them with their money ?? Imagine they really did it, it's like sitting on a gold mine  :D

exchange is very dangerous to leave your money in it.
when you are hacked you will lose all your money
and difficult to get your money back.
" World there are many scam scenarios " - be wise with your money !!!

 ::) ::) ::)

Jeez,  i dont  really  like this  kind  of  exchange  hack  incident   because  i do  really afraid  to    dump  again  on bitcoin price. lol.  I do  heard   for the first  time  of this  exchange which  is suppose  this is a  local exchange for sure because its  not  a reputable  one . Hope  this  hacking  incident wont really  affect soo much 2.3k btc is small though   but still  a  million dollar amount. Thats why  i never   leave  big amounts  on exchanges.

people just keep saying this but where are these decentralized exchanges?
are any of them even good and have the same trade volume?

and most important question: can traders get the same functionality they get from the current exchanges or is it at a compromise?

i keep seeing this but when i check the projects i see nobody is using them!

It is good advice that we should be wise with our money. Nowadays people are eagerly waiting for the opportunities to become rich in super fast ways so can't believe anyone in this world when money is involved. So it is always good to secure your money by yourself than depending on others.

Scams are everywhere all over the globe  either  offline or  online,  because  people   do easily tempted   with  money especially  on  huge amounts  already thats why   they would  make  anything even if its  illegal in able to get those  money and  dont  mind   what would be the effects  as  long they have it. You are right we  must be   wise  on  our  money  and we should  secure it and be aware on  the possible scenarios   might  happen  on  the long run  like  on exchange  hacks.

Sad to have to read this type of news again. I just don't know why people keep using these new exchanges and store a lot of coins on them.

The big established exchanges are nowadays putting a lot of effort into security and are more likely to have some reimbursement plan instead of folding to the loss.

The theft still sounds quite small to me though, could've been much worse from what we have seen lately.

they seemed to be a not so popular exchange service that is why the alleged hack is also small. besides it is 1,560,000 USD which is not really small on its own if you are not comparing it.

and from what I have read it sounds more like an exploit in their weak system which was not like any other hack that has happened so far but we may never know the real thing behind it like any other hack before it.

yes never put btc in any centralized ecchanges and online wallet or any famouse man acting as escrow

any thing will change , when the money becomes a  lot

so girlbtc's slogan is " play with you solely controlled address, never put your money outside for any reason. withdraw it whenever it is possible. " and now the decentralized gamble solution is that important to btc gamble system.

This is very disappointing to hear that another crypto exchange is out of business. They should have a good security in place. Even with good security, I believe that all exchanges should warn their users not to store large amount of coins if they are not planning to trade it soon. This may sound silly, but in situations like this, it can decrease the amount of coins stolen by hackers. 

Man be smart please, there is no hack at all,  the story is told by the site, who knows?

Haker=Admin

you just gave me shock yea a huge shock because I had invested $120 in trading site but it's my biggest fear now I am thinking to get back my money in my wallet. already i had suffered losses in hashocean and I can't afford to loss again. and if i loss this amount then my business life will end here itself.

That's one thing that scares me with all this cryptocurrency world, online businesses are a lot more vulnerable to attacks and theft, unlike physical banks.

It's a Polish exchange, one of the oldest. It's not showing on coinmarketcap (if that's what you meant) as they halted trading.


Yup, Bitcurrex was hacked back in March 2014. I would risk a guess that people could actually be more trusting towards the exchanges that were hacked but managed to recover.

We are slowly running out of exchanges with clear record of never being hacked.

Anyhow, I've read that the owners of Bitcurrex are already under investigation after complaints were filed by users.

As long as these exchanges are operated by incompetent amateurs, we will see many more exchanges go down in the coming years.

These two problems form a significant factor as to why exchanges go down;

# In case of a hack - As stated before, incompetent amateurs with no real experience in programming run exchanges like it's just a hobby thing. They try to save on costs by "trying" to fix certain weak spots of their exchanges themselves, instead of investing money in hiring capable programmers to do it for them. This is mostly the case with the smaller exchanges.

# In case of an inside job - Once again, incompetent amateurs aren't able to deal with large amounts of money and coins (2300BTC definitely fits in that category). It's very easy to blame the loss of that many coins to a hack where the semi-anonymity of Bitcoin is offering them enough time and options to think out a solid plan.

In both cases it's the fault of the exchange.

Yep, u never know for sure.
Anyway its sad when any exchange go bust, always innocent people hurt :/

2300btc is nearly 1.400.000$. That's not going to move the charts suddenly. We may expect a slow dump session but it will get recovered easily and those 1.4m$ will just melt away.

I hope they didn't have many users btw.

And even after that "accident" the btc price is rising... everything is well organized ! lol

This is bad news,if it`s true.

This isn`t a major bitcoin player, so it won`t affect btc price that much,i guess.

 

Another proof that it isn't wise to keep your coins on exchangers. They are simply vulnerable and very attractive for hackers no matter to all precausion measures. If there are any.
This is a lot of money it was stolen, I don't know how will they reimburse the users.

People saying it's better to keep all their coins off the exchanges are definitely right, but when people are doing their trading, the coins have to stay there for a while as long as people aren't done trading.

In that aspect it's very difficult to blame people for storing coins on an exchange while it's not really storing that they do as their only purpose is to trade with them.

That's assuming people will cash out their coins back to their wallet as soon as they are done trading.

If people after their completed trading sessions still keep their coins on that exchange, then it's of course their fault as you should directly cash out everything.

yes this should be done immediately. we should immediately implement a system to maintain the strength of bitcoin wallet. today will grow back those people who are worried save their money in bitcoin. This is something that should be rectified as soon as possible.

sad that it has to happen. i dunno if this means exchanges will consolidate into bulletproof ones or whether that leaves the exchanges standing even juicier targets.

i hope they're taking their opsec ever more seriously.

It's bad that it's the 2nd time that they were hacked and this time they've lost a lot more. Blaming third-party applications is not the way to go, it would have been better if they had heavily invested in securing their platform and informed their users via newsletters to not store their Bitcoins or altcoins on the exchange. This would encourage users to safely withdraw their funds as soon as they've placed an exchange. I'm sure those locked in the process of exchange would be less under the users control, and they may be the unlucky ones.

just another exchange to add to the list of scammers who was either the robbers themselves or were to incompetent to secure their own platform and prevent the robbery in the first place.

Never see anything about those exchange and looks like it werent a legal or recognized exchange, soo they should were brand new into the business, and 2300 bitcoins went away, coins enought for the most retire, this is getting more popular, looks like hackers do wanna steall all the bitcoins wow.

There already is an open source decentralized exchange, check out https://bitsquare.io/
Plus, I don't think there has to be specific demand for this, the functionality should be the same as any other exchange, so all it needs it promotion by word of mouth and people making money on it.

And it's strange that Bitcurrex kept this hidden for so long, just makes everything seem all the more suspicious.
Luckily it's just a small exchange, but still bad publicity for Bitcoin.

I personally just hope this never happens with Poloniex, it's the only exchange I use and even then, I don't keep a lot of funds on it.
But I can imagine that professional traders often don't really have a choice and just have to hold a lot of funds on exchanges.

If this took place on the 13th of October, they only mentioned it within the last few days?
That seems very suspicious.
Like a Ponzi scheme that ran out of funds when people tried to make withdraws after they ran away with the loot.

Another day, another bitcoin exchange being “hacked” I’m starting to worry but not about the hacks but about the fact that I am no longer surprised by this and by the fact that I no longer get worried about it.

This type of news awaken fear in me because I had invested $200 in trading cum exchange site and I think this will not happen with me but if it happens then I might to have forget about getting back my money. And if i loss my 200$ then i will be never able to recover that amount and my financial life will ruin

Try bitsquare. not an exchange exactly more of a list of bid ask and multisig secure escrow.

No central server so no one can hack and take coins or inside person to steal coins.

Coins or fiat are only moved when both sides have proven themselves

This is certainly bad news for the cryptocurrency industry and a number of people are likely to lose faith with it. Obviously it is now a trend, big and small exchanges alike. If something drastic is not done about this ugly situation, it might turn around to become the nail that nails the coffin of this awesome discovery. I learnt a big lesson from Cryptsy - an exchange should never be seen as a bank!

I checked their thread and seems that they are not much active here in forum, and the OP of that thread hasn't been online for almost 2 months, but the hacks in these years has been increased too much which are damaging the bitcoin.

no one should be surprised any more. but i'm still surprised that people choose to put money into amateur hour shit holes like this place and bitfinex.

the chances are that you live somewhere where there's a more solid exchange. it's up to bitcoin users to support them with volume so stuff like this is left behind.

When it comes to these large amounts where exchanges get raped,it feels like there is a wide enough spot to develop a failsafe method to protect against this.
Like a program that shifts the bitcoin around in groupings,so it is constantly moving through the blockchain and when it gets altered it shows up right away as a problem and you can stop all the other bitcoins from being juggled around. Going into lock down mode! Would leave a paper trail and a pretty close time stamp as well if it could be set up.

I would like to see categorical evidence of one of these hacks not being an inside job before looking further afield. gox, this place, bitfinex, cryptsy, bter and on and on and on, there's no explanation for any of them.

Has this been confirmed to be a hack, or is it an 'inside hack'?  Either way, none of this is surprising and it'll .  keep happening again as long as these exchanges go unregulated.  Hate to say it.  But this kind of thing is eventually going to attract the attention of gov't agencies.  Law enforcement and everything else.

These kind of big hacks are occurring every now and then and what are they doing to secure the safety of the clients ,after every hack they just release a statement that it was hacked and after that what happens is the price of bitcoin goes down and the clients loses their coins.we need changes to these situation and there should be a guarantee to the clients wealth in case of a hack

I do believe this is just a admin that scammed their costumers, otherwise we would see some big warning about another hacker sucessfull auction, as stated this happened at day 13 October why just now people realize it, bitfinex went from day to night and all say, looks like the admin had hidden the reasons and maybe suspended the cashouts till he could hide anymore.

rising because people fear there would be shortage of bitcoin in market.Maybe this news will bring further hike in bitcoin price

why would there be a shortage of bitcoin in the market, satoshi can be broken down to smaller units i guess ,the price rise is mainly due to economic instability and china

But comparing with the previous incident this cases are not giving a sensitive impact for the bitcoiners community, but that's already enough for giving a shocked for the people who storing in them and the trend of rising are always gone.

I dont think there will be a shortage, because it is in someone wallet not vanished in the air, the one that i afraid is people dont trust any exchange site anymore because this is not the first time and with this incident it will affect the price

there are enough people back on bitfinex and they haven't provided any explanation of what happened. traders either don't care or choose to forget and cross their fingers. weird but that's how it is.

It's rising because Bitcoin price is controlled entirely by day traders and they're all insane. They will use any reason as an excuse to rally. LOL

That is what we suspect also,and the possibility is endless. As a trader,we have used that exchanges also as we arbitrage sometimes of coins which are profitable.And they say its IT damage network... just weird :)

Would it be possible to create a decentralized exchange running by the same principles bitcoin does?
I mean based on a blockchain? Rewards could be exchange fees. About 0.15 % of each transaction.

look into bitsquare

https://bitsquare.io/][url]https://bitsquare.io/ (http://[url)[/url]

Fortunately for us it was local exchange. We should be thankful that this hack didn't cause chain reaction and impacted to price of BTC.

From what I gathered, Bitcurex was hacked on October 13. This is one of the main addresses of Bitcurex:  1K2PKGPGrYTQjPohXjDgbjeRtynGAZU9cF we can see large portion of bitcoin being withdrawn from that address.
It took them more than a week to admit they were hacked.

The problem with these hacks is that most of them have never showed real proof they were hacked all, this is why the community is growing more and more skeptical about this.

Yeah thats right, Some times savotage happens. They said they were hacked by a hackers or they were attack by ddos attacks , Sometimes it is good to provide a proofs that they were being hacked or attacked. If they losed this kind of btc why did the price didnt fall instead it is increasing so fast