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Title: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: hazek on June 19, 2011, 06:33:37 PM Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: hazek on June 19, 2011, 06:37:09 PM you can see the 500k volume at the top and the 261k order the at very right bottom.
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Bit_Happy on June 19, 2011, 06:40:08 PM Might have been a hacker, this could all be fake, maybe.
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Durr on June 19, 2011, 06:41:58 PM I think it's more in the trend of MtGox hacked, wallets of all customers emptied.
Or Satoshi knowing that the system is flawed and leaving. Only Satoshi knows the algorithm.. no one else on this forum or from the developers know how it actually works since they can't break it (not even with the source). Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: TraderTimm on June 19, 2011, 06:42:42 PM If you don't mind, I'm going to put up what I saw on bitcoinmonitor.com here, since it is a screen shot thread...
First Pic: http://farm4.static.flickr.com/3153/5849184881_b08a2145c6_b.jpg Second Pic: http://farm4.static.flickr.com/3017/5849740960_cf9d629113_b.jpg Upon further reflection, seems an order this large could absorb all intervening bids/offers - but you should see those taken out in the trade history, not just crossing at 0.01. So, something is obviously messed up here. Waiting for an official comment from MagicalTux. Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: AtlasONo on June 19, 2011, 06:44:25 PM The free market at work
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Durr on June 19, 2011, 06:45:31 PM What are you talking about TradeTimm?
The whole bid side of the Market Depth graph was emptied out.. Definitely all buy bids were completed.. With 260k left over at 0.01 Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: DamienBlack on June 19, 2011, 06:45:50 PM It did take out everything in between, I can confirm that.
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: philipp on June 19, 2011, 06:47:01 PM I think it's more in the trend of MtGox hacked, wallets of all customers emptied. Or Satoshi knowing that the system is flawed and leaving. Only Satoshi knows the algorithm.. no one else on this forum or from the developers know how it actually works since they can't break it (not even with the source). Or some early adopteri wanting to counter all the whining about early adopters getting rich once Bitcoin takes off. Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Isosceles on June 19, 2011, 06:48:12 PM Hazek, do you have a screenshot of the rest of the trades?
Putting the numbers from your screenshot in to Excel, there was only $5.3k traded, of which $2.7k was >$10, and the remaining was the stub order Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: datafish on June 19, 2011, 06:49:34 PM Psychopath or government operative. But I repeat myself.
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: semarjt on June 19, 2011, 07:03:36 PM I think it's more in the trend of MtGox hacked, wallets of all customers emptied. Or Satoshi knowing that the system is flawed and leaving. Only Satoshi knows the algorithm.. no one else on this forum or from the developers know how it actually works since they can't break it (not even with the source). what 'algorithm' are you refering to? sha256? http://en.wikipedia.org/wiki/SHA-2 ECDSA? http://en.wikipedia.org/wiki/Elliptic_Curve_DSA All algorithms used in the bitcoin protocol are very well documented. thousands of people 'know the algorithm' So, what exactly are you talking about. ....I suspect you do not know. And I have just wasted 7 minutes of my life. Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: hazek on June 19, 2011, 07:06:32 PM Hazek, do you have a screenshot of the rest of the trades? Putting the numbers from your screenshot in to Excel, there was only $5.3k traded, of which $2.7k was >$10, and the remaining was the stub order Nope sorry, that's most of what I caught when I was refreshing.. Here's something missing from the screenshot: Code: Jun 19, 2011, 17:51:16 0.01000 261383.76 Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Isosceles on June 19, 2011, 07:09:29 PM Someone uploaded it to pastebin. Answer here : http://forum.bitcoin.org/index.php?topic=19505.msg244493#msg244493
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: bitbitcoincoin on June 19, 2011, 07:10:59 PM Huge Bitcoin sell off due to a compromised account - rollback
Mark Karpeles posted this on Jun-20 04:07 The bitcoin will be back to around 17.5$/BTC after we rollback all trades that have happened after the huge Bitcoin sale that happened on June 20th near 3:00am (JST). Service should be back by June 20th 10:00am (JST, 01:00am GMT) with all the trades reversed and accounts available. One account with a lot of coins was compromised and whoever stole it (using a HK based IP to login) first sold all the coins in there, to buy those again just after, and then tried to withdraw the coins. The $1000/day withdraw limit was active for this account and the hacker could only get out with $1000 worth of coins. Apart from this no account was compromised, and nothing was lost. Due to the large impact this had on the Bitcoin market, we will rollback every trade which happened since the big sale, and ensure this account is secure before opening access again. mtgox.com Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: lonestranger on June 19, 2011, 07:13:14 PM But still unexplained is why Mt Gox reported out that the btc price fell to $.01...
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Yeti on June 19, 2011, 07:16:20 PM Because they report the price of the last sale?! If that was the "last" sale for a couple of minutes then that was the price being reported, even if bid and ask might have been higher.
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: lonestranger on June 19, 2011, 07:18:34 PM What kind of theif hacks an account and sells for $.01?
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Grant on June 19, 2011, 07:19:05 PM To all of you who wonder, don't panic!
<MagicalTux> we'll just rollback all affected trades It appears that 500k BTC trade was illegitimate, trading will resume after a rollback to its previous state, last trade was ~17$ :) Btw. i just sold almost all my bitcoins last few days i was hoping for the opposite, but this seems most fair for all to reverse an illegitimate trade. Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: lonestranger on June 19, 2011, 07:19:39 PM Uh, that's thief...I AM a true grammarian.
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Isepick on June 19, 2011, 07:22:06 PM He sells 250k stolen bitcoins for .01 from the hacked account, and buys them all with his real account. Much profit if he actually pulled it off.
Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Grant on June 19, 2011, 07:58:29 PM He sells 250k stolen bitcoins for .01 from the hacked account, and buys them all with his real account. Much profit if he actually pulled it off. The idiot didnt, thanks to MagicalTux! <MagicalTux> we'll just rollback all affected trades ;D Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: AnonymousBat on June 19, 2011, 08:45:47 PM The free market at work Someone coming over and burning down your house is free market too. Does that mean you should not live in a house, since someone can come over and burn it down? Of course not. Title: Re: Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot] Post by: Superform on June 20, 2011, 05:25:47 AM my email was on that list and i woke up this morning to find my password changed on my email account.. i have reset it - but this is a wake up .. assume your passwords have been compromised
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