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Title: btc24 bitcoin24-com trade engine problems Post by: hackstutz on April 12, 2013, 12:26:20 PM what just happened on btc24?
anyone wants to come up with a theory? Title: Re: btc24 bitcoin24-com trade engine problems Post by: hansmentz on April 12, 2013, 12:28:52 PM Relevant Reddit discussion (http://www.reddit.com/r/Bitcoin/comments/1c77qg/bitcoin24_down_after_a_corrupt_trade_engine_gives/).
Title: Re: btc24 bitcoin24-com trade engine problems Post by: hansmentz on April 12, 2013, 12:59:51 PM You might also follow #btc24 on Freenode for the latest news.
A mod from the channel just reported: Code: <@xkallex> we cant say anything in the moment Title: Re: btc24 bitcoin24-com trade engine problems Post by: hackstutz on April 12, 2013, 01:04:25 PM thx
Title: Re: btc24 bitcoin24-com trade engine problems Post by: hansmentz on April 12, 2013, 01:27:21 PM Here's BTC-24's hotwallet.
https://blockchain.info/address/1BTC24yVKQdQNAa4vX71xLUC5A8Za7Rr71?sort=0 No activity since the closedown. Title: Re: btc24 bitcoin24-com trade engine problems Post by: hackstutz on April 12, 2013, 01:34:19 PM yes, i guess they will roll back and just the btc from the hot wallet will be lost...
i hope this won't take too long Title: Re: btc24 bitcoin24-com trade engine problems Post by: diego1000 on April 13, 2013, 09:34:53 AM any news?
Title: Re: btc24 bitcoin24-com trade engine problems Post by: siet on April 14, 2013, 10:40:04 AM what mean hot-wallet and cold-wallet?
-> does it mean the cold wallet are coins not used in trades the last hour? Or are these thinks not connected to each other? What means not important to which time you trade or put your money (EUR or BTC) on the platform it is only covered by the cold-wallet. In my case I have put coins to the platform at around 11 pm 11th of April traded at 4am and 8am and between 10-11:30am the platform trade locks like a control loop with to strong gains (12th of April). All my stuff on the platform is in BTC. As long I can understand everything, the delay of withdraw of EUR is that big that the money couldn't be lost but the delay of Bitcoin withdraws was only 30min in my case (Tested the day before). If the BTC is shown by the bitcoin network he could not bring them back. So the graphs lock like the problem started at 10am what means that 1h of loses of BTC is possible. Please give me a good feeling and say that I'm wrong. Title: Re: btc24 bitcoin24-com trade engine problems Post by: zakoliverz on April 14, 2013, 11:02:03 AM anyone know any news , please update.
Thank you so much. Title: Re: btc24 bitcoin24-com trade engine problems Post by: ineedyourhelp on April 14, 2013, 11:02:14 AM what mean hot-wallet and cold-wallet? is there any one can explain this ?? i also want to know! Title: Re: btc24 bitcoin24-com trade engine problems Post by: crazy573 on April 14, 2013, 11:14:17 AM https://en.bitcoin.it/wiki/Cold_storage (https://en.bitcoin.it/wiki/Cold_storage)
https://en.bitcoin.it/wiki/Hot_wallet (https://en.bitcoin.it/wiki/Hot_wallet) Title: Re: btc24 bitcoin24-com trade engine problems Post by: Keylan on April 14, 2013, 11:28:46 AM what mean hot-wallet and cold-wallet? is there any one can explain this ?? i also want to know! dito Title: Re: btc24 bitcoin24-com trade engine problems Post by: hackstutz on April 14, 2013, 08:20:40 PM in short: the cold wallet stores most of the bitcoins that were deposited. it is not accessible by the trading platform, so if anything goes wrong (like the trading engine incident few days ago), those coins can not be withdrawn from people who profited from corrupted trades. also if someone were able to hack the system, he cold not access the cold wallet. so the biggest part of coins is safe form incidents like that. the hot wallet is the wallet from which btc can be withdrawn. if its empty, it gets refilled by btc24 with money from the cold wallet. he usually did that every hour.
so the maximum that can be lost is the hot wallet content (usually some hundret btc). the minium that can be lost is 0 btc. the other thing is, that there seem to be legal problems with the account being block etc. check this thread, because this is where the main discussion is taking place: https://bitcointalk.org/index.php?topic=174600.0 |