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Title: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: nullius on February 19, 2020, 03:29:03 PM It is high time—no, long past time to better warn people about the billion-dollar scam with a centralized kill switch. Please support:
From Coindesk (https://www.coindesk.com/iota-foundation-suspends-network-probes-fund-theft-in-trinity-wallet), with my red boldface added: Quote from: Coindesk IOTA Foundation Suspends Network, Probes Fund Theft in Trinity Wallet Feb 13, 2020 at 23:22 UTC Updated Feb 14, 2020 at 15:14 UTC IOTA Foundation, the nonprofit behind the IOTA distributed network, recommended users close their Trinity wallets Thursday after multiple reports of fund theft. IOTA said (https://status.iota.org/) it started receiving the reports Wednesday and decided to shut off the Coordinator node in the network for further investigation. [...] On Twitter, IOTA said (https://twitter.com/iotatoken/status/1227990537799524352) it is working with law enforcement and cybersecurity experts to investigate a coordinated attack that resulted in stolen funds. Dominik Schiener, co-founder of the IOTA Foundation, did not respond to request for comments before the press time. CoinDesk will add updates as the story develops. (Note: This theft followed by IOTA hitting the kill switch happened only a few months after IOTA mainnet had 15 hours of “downtime” caused by a “corrupt ledger state” (https://www.coindesk.com/iota-fixes-minor-network-bug-following-15-hour-mainnet-downtime)... Wait, what the hell kind of cryptocurrency has network-wide “downtime”? Bitcoin has no “downtime”, and certainly no “corrupt ledger state”.) What bad news this is for a network that people are entrusting with their money:
https://i.imgur.com/cWh3l1H.png (https://twitter.com/iotatoken/status/1227990537799524352) (Archived (https://web.archive.org/web/20200213181610/https:/twitter.com/iotatoken/status/1227990537799524352)) Now, compare this fiasco and other known problems with IOTA to the dishonest claims in OP of IOTA’s announcement thread (current snapshot (https://web.archive.org/web/20200219095540/https://bitcointalk.org/index.php?topic=1216479.0)): Iota’s blockchain solves the following problems of its blockchain cousin: Centralization of control As history shows, small miners form big groups to reduce variation of the reward. This leads to concentration of power (computational and political) in hands of few pool operators and gives them ability to apply wide spectrum of policies (filtering, postponing) on certain transactions. Although there are no known cases where pool operators abused their power, there have been several instances where the opportunity were present. This possibility in a monetary system powering a multibillion (in USD) industry is completely unacceptable. “Obsolete” cryptography Although large scale quantum computers do not exist yet, future oriented companies have already begun initiating the steps towards quantum-resistant cryptography. From a security point of view it makes perfect sense to assume that hardware capable of cracking classical cryptoalgorithms may appear in the very near future, so preparation is the only defense. Let me get this straight: IOTA avoids “centralization of control” by having a centralized kill switch which can turn off your money at any time—and they use that kill switch when theft occurs because their way to avoid “‘obsolete’ cryptography” is to sell you a bug-ridden heap of snake oil that has had its homebrew crypto broken (#post_hashbreak) in the past, and apparently is overall insecure and buggy (whether or not this latest theft was caused by a break of their crypto). SCAM Because I am a techie, let me put this in terms of something that looks like maths and stuff: IOTA = your money → 🗑️ The current IOTA disaster shows that honest technical experts on this forum, including myself, were justified long ago in giving a roundhouse kick (https://schneierfacts.com/fact/vote/94) to IOTA’s snake oil security. What do I mean by “snake oil”? Everybody who knows anything about practical cryptography knows well these warning signs: https://www.schneier.com/crypto-gram/archives/1999/0215.html#snakeoil Quote from: Bruce Schneier (CRYPTO-GRAM) Snake Oil The problem with bad security is that it looks just like good security. You can't tell the difference by looking at the finished product.... The term we use for bad cryptography products is "snake oil," which was the turn-of-the-century American term for quack medicine. It brings to mind traveling medicine shows, and hawkers selling their special magic elixir that would cure any ailment you could imagine. [...] Elsewhere I've talked about building strong security products, using tried-and-true mathematics, and generally being conservative. Here I want to talk about some of the common snake-oil warning signs, and how you can pre-judge products from their advertising claims. These warning signs are not foolproof, but they're pretty good. Warning Sign #1: Pseudo-mathematical gobbledygook. In the quote above, notice the "unique in-house developed incremental base shift algorithm." Does anyone have any idea what that means? Are there any academic papers that discuss this concept? Long noun chains don't automatically imply security. [...] Warning Sign #2: New mathematics. Every couple of years, some mathematician looks over at cryptography, says something like, "oh, that's easy," and proceeds to create an encryption algorithm out of whatever he has been working on. Invariably it is lousy. [...] Warning Sign #3: Proprietary cryptography. I promise not to start another tirade about the problems of proprietary cryptography. I just include it here as a warning sign. [...] Warning Sign #4: Extreme cluelessness. Some companies make such weird claims that it's obvious that they don't understand the field. [...] Warning Sign #7: Unsubstantiated claims. [...] Other companies make claims about other algorithms that are "broken," without giving details. Or that public-key cryptography is useless. Don't believe any of this stuff. If the claim seems far-fetched, it probably is. [...] I can stop at 5 of Schneier’s “warning signs” without proceeding further, methinks. I am not only calling IOTA insecure now. See what I said two years ago in a discussion with some of the smartest people in the Development & Technology (https://bitcointalk.org/index.php?board=6.0) forum, after IOTA’s homebrew hash was cracked. All emphasis and boldface are hereby quoted as in my original posts. Merited by achow101 (https://bitcointalk.org/index.php?action=profile;u=290195) (2), LoyceV (https://bitcointalk.org/index.php?action=profile;u=459836) (1) The recent (and a really good) example of bad code here: http://www.tangleblog.com/wp-content/uploads/2018/02/letters.pdf Quote Dom, David and the rest of the IOTA team, We have found serious cryptographic weaknesses in the cryptographic hash function curl used by IOTA, curl. These weaknesses threaten the security of signatures and PoW in IOTA as PoW and Signatures rely on curl to be pseudo random and collision resistant. ... This is not “bad code”. It is DIY crypto. Worse, DIY crypto for a primitive—a DIY hash! Worse still, DIY crypto by a corporate outfit which never showed any evidence of being inhabited by world-class cryptographers—despite their claim in a spin-job piece that “the IOTA Foundation has already subcontracted a team of 5 world-class cryptographers, as well as 3 independent ones to come up with a final design of Curl and then start the long peer-reviewed process, as was always the plan. (https://blog.iota.org/curl-disclosure-beyond-the-headline-1814048d08ef)” N.b. that even world-class cryptographers need their primitive designs to undergo extensive peer review before fielding them with Other People’s Money—whether it’s the “final design”, or otherwise! One of the people who broke IOTA had some damning words for it, in “Cryptographic vulnerabilities in IOTA (https://medium.com/@neha/cryptographic-vulnerabilities-in-iota-9a6a9ddc4367)”: Quote from: Neha Narula (2017-09-07) You might think that IOTA, a cryptocurrency worth over a billion dollars, and working with organizations (https://forum.iota.org/t/current-publicly-revealed-iota-foundation-members/2280) like Microsoft (https://azure.microsoft.com/en-us/blog/azure-blockchain-update-5/), University College London (http://blockchain.cs.ucl.ac.uk/members-partners/), Innogy (https://innovator.news/securing-the-economy-of-things-9af71235834b), and Bosch, BNY Mellon, Cisco, and Foxconn (through the Trusted IOT Alliance (https://www.trustediot.org/membership)) would not have fairly obvious vulnerabilities, but unfortunately, that’s not the case. When we took a look at their system, we found a serious vulnerability and textbook insecure code. “In 2017, leaving your crypto algorithm vulnerable to differential cryptanalysis is a rookie mistake. It says that no one of any calibre analyzed their system, and that the odds that their fix makes the system secure is low,” states Bruce Schneier, renowned security technologist, about IOTA when we shared our attack. Anybody who buys into such ill-conceived crypto-junk as IOTA deserves to lose their money, on grounds of foolishness. Merited by TMAN (https://bitcointalk.org/index.php?action=profile;u=98986) (10), achow101 (https://bitcointalk.org/index.php?action=profile;u=290195) (2), LoyceV (https://bitcointalk.org/index.php?action=profile;u=459836) (1) Bitcoin requires a new mindset. [...] If you get that, then you will pay careful attention to the quality of your code. Also, you will much respect Core—because they get it, too. And if you dare to make your own currency, you will not start by designing your own hash function as IOTA did! That really wrecks any credibility they ever had. I don't know precisely what happened with IOTA but I have read a little bit about it and I'm not sure why the currency continues to circulate given what I do know. I guess too many people had invested into it by that point, which is more a political reason for continuing to exist rather than anything based on technical merit or the capability of the system. I'm not sure why the IOTA people thought it was a good idea to throw in some untested cryptography, but that seems like a very amateur thing to do. As for the latter bolded part: I don’t see “amateur”. I see PHB + NIH. Come on. We’re the big boys. Microsoft is involved—you know, the company which does \ instead of / as a directory delimiter. For our billion-dollar cryptocurrency, we will do innovation! We don’t just use a commercial off-the-shelf hash which everybody else has. We have our own hash! The boss says so. I hereby partly retract one statement that I made in the above quotes: Anybody who buys into such ill-conceived crypto-junk as IOTA deserves to lose their money, on grounds of foolishness. The word “deserves” was rhetorical hyperbole. Newbies and people who are not technical experts do not deserve to lose money on a billion-dollar scam, which they lack adequate knowledge properly to evaluate. Wherefore my new action against IOTA: People deserve to be warned, so that they do not unknowingly take the high risk of losing money that comes with investing in a “cryptocurrency” that uses snake oil crypto, has suffered thefts (due to apparently as-yet undisclosed insecurities), and has actually had its whole network shut down with a centralized kill switch. IOTA is a broken-by-design financial time bomb! Disclosures: I have no financial position which could be in any way directly affected by IOTA’s market price. Indeed, I flatly ignore >99% of the altcoin market. IOTA just keeps coming to my attention as a disaster by design. In 2018, it was their broken homebrew hash; now, it is their kill switch... I want to warn others so that people don’t take a high risk of losing money by buying into a billion-dollar scam with snazzy marketing, big corporate backers, and abysmally insecure technology. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: nullius on February 19, 2020, 03:29:21 PM Translations:
If this thread grows long, important forward references will be linked from this post. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on February 19, 2020, 03:32:28 PM I have always been advocating against IOTA, but the situation is much more worse than I have previously believed! I wish that this was handled much sooner..
See also: https://twitter.com/matthew_d_green/status/967073310604488707 Quote Matthew Green @matthew_d_green 4:26 PM · Feb 23, 2018 If you want a postcard summary of why you should avoid the Iota project — with your brains and your money — this conversation is it. Matthew Green is a professor of cryptography at Johns Hopkins University. His blog can be found here: https://blog.cryptographyengineering.com/. That was part of a tweetstorm. As reported by IEEE Spectrum, a professional publication from the Institute of Electrical and Electronics Engineers: https://spectrum.ieee.org/tech-talk/computing/networks/cryptographers-urge-users-and-researchers-to-abandon-iota-after-leaked-emails Quote Cryptographers Urge People to Abandon IOTA After Leaked Emails A dump of private emails pits developers of the cryptocurrency against external security researchers By Morgen Peck 27 Feb 2018 | 17:00 GMT This past weekend, multiple prominent security researchers and academic cryptographers took to Twitter to paint a big black mark on the cryptocurrency project, IOTA. The posts implore investors not to hold the currency and researchers not to collaborate on enhancing the security of the system. An outcry was triggered shortly after a chain of private emails sent among the IOTA team and a group of external security researchers was made public (http://www.tangleblog.com/2018/02/24/full-emails-ethan-heilman-digital-currency-initiative-iota-team-leaked/), exposing the developers’ response to the disclosure of a critical flaw in one of their cryptographic building blocks. The correspondence, which ended with vague threats of legal action by IOTA founder, Sergey Ivancheglo (https://twitter.com/c___f___b?lang=en), against a member of the Boston University security group (https://www.bu.edu/cs/groups/busec/), has prompted many academic researchers to denounce the entire project. ... However, there are many in the community who argue that the system, which today relies on the activities of a central operator called a “coordinator,” is not as decentralized as advertised (https://casey.github.io/iota/). Those who adhere to this line of thinking—people like Rick Dudley, a blockchain architecture advisor and consultant in New York City—note that the team behind IOTA has made it especially difficult for outside researchers to evaluate the technology. Also very important read: https://www.media.mit.edu/posts/iota-response/ I'm really sorry for everyone who lost money in this very sophisticated scam, and hope that we can prevent additional people from becoming victims of IOTA. My flag is here (negative rating also left): https://bitcointalk.org/index.php?action=trust;flag=1388 Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: bitmover on February 19, 2020, 06:32:33 PM From iota.com blog
https://blog.iota.org/instant-feeless-flash-channels-88572d9a4385?gi=9eb5072573c4 Quote Instant & Feeless— Flash Channels Lewis Freiberg Lewis Freiberg Sep 24, 2017 · 10 min read The goal of the IOTA Foundation is it to build a flourishing Machine Economy, where machines seamlessly interact and transact with each other. With IOTA, we have introduced the first scalable distributed ledger architecture that has no transaction fees and is able to run in the Internet of Things environment. The power of IOTA is in its network, as it scales horizontally with the number of network participants transacting with each other. Free and instant transaction. Fully scalable. But everything has a price. Looks like iota price is very expensive This scalability drama is just ridiculous. An stupid idea which became a marketing z to make fools by shitcoins and stay away from bitcoin because it is "old slow and expensive " Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on February 19, 2020, 06:34:25 PM From iota.com blog https://blog.iota.org/instant-feeless-flash-channels-88572d9a4385?gi=9eb5072573c4 Quote Instant & Feeless— Flash Channels Lewis Freiberg Lewis Freiberg Sep 24, 2017 · 10 min read The goal of the IOTA Foundation is it to build a flourishing Machine Economy, where machines seamlessly interact and transact with each other. With IOTA, we have introduced the first scalable distributed ledger architecture that has no transaction fees and is able to run in the Internet of Things environment. The power of IOTA is in its network, as it scales horizontally with the number of network participants transacting with each other. Free and instant transaction. Fully scalable. But everything has a price. Looks like iota price is very expensive This scalability drama is just ridiculous. An stupid idea which became a marketing z to make fools by shitcoins and stay away from bitcoin because it is "old slow and expensive " Quote Response Three: Source: Orcutt’s claim that IOTA is free of fees is misleading. Though perhaps not immediately obvious, IOTA transactions are "zero fee" in exactly the same way that Bitcoin transactions are. An important difference is that Bitcoin has miners who can perform the proof of work for you, while IOTA users do the proof of work on their own devices, per transaction. However, a Bitcoin user can also mine their own block to get their transactions accepted into the blockchain without paying fees. To put it another way, most people wouldn’t be interested in buying a refrigerator operated by a hand crank, even if the advertisement said “No electricity required!” It’s true that transactions with Bitcoin and other digital currencies, even when amortized over a block with thousands of other transactions, require much more work than transactions in IOTA. However, the claim is not that IOTA transactions are easier—the claim appears to be that IOTA transactions are free. Semantics aside, this claim, which appears in IOTA marketing materials, is deceptive; the work required is a fee, whether or not it requires a monetary payment. Restricting the ways in which the fee can be paid—requiring that the work be done on a user’s own device—doesn’t make it go away. https://www.media.mit.edu/posts/iota-response/ Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: nullius on February 19, 2020, 09:03:41 PM For those who need a TL;DR: There Ain’t No Such Thing As A Free Lunch! (https://www.investopedia.com/terms/t/tanstaafl.asp) (Link for Tor users, whom that website blocks (https://web.archive.org/web/20191218174034/https://www.investopedia.com/terms/t/tanstaafl.asp)—or see Wikipedia (https://en.wikipedia.org/wiki/There_ain't_no_such_thing_as_a_free_lunch).)
That is just common sense, the general concept of which has been the stuff of proverbs for thousands of years. Crypto newbies may not know Schneier’s warning signs of snake oil cryptography (https://bitcointalk.org/index.php?topic=5227016.msg53871588#post_scam). Whereas every reasonable person should know that “free” is the most expensive—especially when it comes to financial investments. From iota.com blog https://blog.iota.org/instant-feeless-flash-channels-88572d9a4385?gi=9eb5072573c4 Quote Instant & Feeless— Flash Channels [...] Free and instant transaction. Fully scalable. But everything has a price. Looks like iota price is very expensive [...] Quote Response Three: Source: Orcutt’s claim that IOTA is free of fees is misleading. [,,,] https://www.media.mit.edu/posts/iota-response/ People need MIT wizards to lay that out for them? ::) Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: allyouracid on February 19, 2020, 09:28:28 PM I'm really sorry for everyone who lost money in this very sophisticated scam, and hope that we can prevent additional people from becoming victims of IOTA. I see correlation rather than causation. There just is no real connection between how / if a product works and its market share.Fact is, though, that IOTA has always overpromised and underdelivered. It was (like most cryptocurrencies) hyped like there's no tomorrow. At the end of the day, people who lost money on it lost it because of their greed, not because IOTA is a "scam", or, as I prefer, vaporware. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on February 19, 2020, 09:34:10 PM I'm really sorry for everyone who lost money in this very sophisticated scam, and hope that we can prevent additional people from becoming victims of IOTA. I see correlation rather than causation. There just is no real connection between how / if a product works and its market share.Fact is, though, that IOTA has always overpromised and underdelivered. It was (like most cryptocurrencies) hyped like there's no tomorrow. At the end of the day, people who lost money on it lost it because of their greed, not because IOTA is a "scam", or, as I prefer, vaporware. If you say you are developing X, and it does not get released within 3-5-10 ETA's, then it is very probably vaporware. If you say that the thing that you have released today is X, and it is actually not even close to that, but Y, then that is fraudulent advertising i.e. scamming. Keep this important distinction in mind. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: The Sceptical Chymist on February 19, 2020, 10:11:55 PM People need MIT wizards to lay that out for them? ::) Lol, I probably wouldn't understand a thing that they were saying--but I definitely see where this shit took a nosedive (and why).Before reading this thread I really didn't know anything about IOTA. It was just a project whose name I saw from time to time on the forum, and I had no idea how centralized it was. I appreciate Nullius breaking everything down here (and for starting the thread in the first place), as I wouldn't have read anything about this scam otherwise. Wouldn't this sort of shenanigans be a problem with Ripple as well? And I have to profess ignorance about how Ripple works, but I'm pretty sure it's just as centralized as IOTA is. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on February 19, 2020, 10:17:41 PM Wouldn't this sort of shenanigans be a problem with Ripple as well? And I have to profess ignorance about how Ripple works, but I'm pretty sure it's just as centralized as IOTA is. It is a very different case that needs to be handled on its own. Evidently, Ripple does not claim to be a cryptocurrency such as Bitcoin AFAIK (they are something else entirely) - despite their frequent attacks and public lies by their CEO (public as in in interviews and similar). They will get their chance in the spotlight as soon as there is more time. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: JollyGood on February 20, 2020, 02:44:02 AM Any crypto having a kill switch is rather far-fetched. Why did they have it in the first place? Any centralised project can have a lot of things their way or unconventional but when I read about the whole project going off-line for those two days or so it shows exactly why IOTA should and any other centralised crypto should be avoided unless they show exactly what cards they are holding.
Back in January 2018 this project had a market capital of over $14 billion but IOTA now has just $770 million market capital and it is dropping fast. Here is yet another of many mismanaged projects that had too much talk and not enough action and development therefore it fell from massive all time highs to a fraction of that. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: PrimeNumber7 on February 20, 2020, 07:01:49 AM Any crypto having a kill switch is rather far-fetched. Why did they have it in the first place? According to the IOTA documentation (https://docs.iota.org/docs/getting-started/0.1/network/the-coordinator?q=coordinator&highlights=coordinator%27), the coordinator (aka kill switch) is to prevent certain types of attacks (https://blog.iota.org/attack-analysis-the-simple-parasite-chain-42a34bfeaf23) related to double spending. IOTA does not have any miners, and it does not cost any coin to send a transaction (only a trivial amount of POW effort), and there is the risk that someone could do something very similar to a selfish mining attack (https://golden.com/wiki/Selfish_mining_attack) that does not cost anything to try. The way I read the documentation, I don't think the coordinator was intended to be used as a kill switch, or more specifically, this is not how it is presented. I don't like the use of a centralized validator, and would not trust any coin that uses one. It appears they are rolling back (https://cryptoiq.co/iota-foundation-to-rewind-blockchain-following-1-6-million-hack/) the IOTA blockchain to reverse the transactions involving the stolen coin. Etherum did something very similar in it's early days when a hacker exploited a flaw and drained coin out of the DAO, although it has something resembling consensus before doing this. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on February 20, 2020, 07:06:11 AM I don't like the use of a centralized validator, and would not trust any coin that uses one. It appears they are rolling back (https://cryptoiq.co/iota-foundation-to-rewind-blockchain-following-1-6-million-hack/) the IOTA blockchain to reverse the transactions involving the stolen coin. Etherum did something very similar in it's early days when a hacker exploited a flaw and drained coin out of the DAO, although it has something resembling consensus before doing this. Thanks for the link. I did not know this.Quote Step 3 is a snapshot will be taken of the IOTA network from before the hack, and any transactions involving compromised wallets will be rewound. A 3rd party service will then perform a know your customer (KYC) identification process to return stolen funds. Wow.. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: allyouracid on February 20, 2020, 08:29:22 AM This space (today) consists of probably >99% people who are unable to research these things sufficiently for themselves due to lack of technical knowledge et. al. They are easy targets for fraudsters and scammers, and I do not blame them. We are here to educate and protect as many as we can. :) Which is a - pun intended ;D - very laudable thing to do. For the noobs getting educated, this is a huge plus, considering large corporations like Volkswagen, Bosch, Microsoft etc. didn't get that opportunity. While most of those announcements of cooperations with companies are surely exaggerated (many of such cooperations merely consist of a company having a "blockchain research unit" which checked out the IOTA repo to take a look at it… bit offtopic, but that Tweet about sums it up: https://twitter.com/CryptoCronkite/status/1227320690321297409), I can see how they scratched their heads when they saw in what terrible way CfB etc. interacted with researchers who took their valuable time for pointing out weaknesses a.k.a. helping to make the product better. For me, this project was over when CfB told the researchers that they implemented the "colission feature" in curl to protect IOTA from copycats, what the actual fuck. If you say you are developing X, and it does not get released within 3-5-10 ETA's, then it is very probably vaporware. Depends on what point of view you have (some would even say that Bitcoin is not a decentralized, Peer-to-Peer Electronic Cash System ^^): those who were following the project closely knew about the coordinator, and that it was a centralized element which was intended to kickstart the network and to be removed, later. The "later" got delayed again and again, making the description of IOTA a concept rather than an actual product, thus vaporware.If you say that the thing that you have released today is X, and it is actually not even close to that, but Y, then that is fraudulent advertising i.e. scamming. Keep this important distinction in mind. For somebody who only read the catchy phrases and didn't bother taking a very close look at what he throws his money at, it might well be described as a scam. To be fair, the IOTA team did not put much effort into explaining IOTA's weaknesses. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on February 20, 2020, 08:51:42 AM Which is a - pun intended ;D - very laudable thing to do. :-* :-*For me, this project was over when CfB told the researchers that they implemented the "colission feature" in curl to protect IOTA from copycats, what the actual fuck. They changed their mind later, apparently it was written by an AI. ::)Depends on what point of view you have (some would even say that Bitcoin is not a decentralized, Peer-to-Peer Electronic Cash System ^^): While people have the right to keep any ridiculous belief that they want to, the above is not based on science and is thus incorrect. I am not interested in unbacked opinions - this case was constructed very objectively, hence why I created a flag.those who were following the project closely knew about the coordinator, and that it was a centralized element which was intended to kickstart the network and to be removed, later. The "later" got delayed again and again, making the description of IOTA a concept rather than an actual product, thus vaporware. Last sentence: There's a very good reason for that - think about it using Occam's razor (https://en.wikipedia.org/wiki/Occam%27s_razor). For somebody who only read the catchy phrases and didn't bother taking a very close look at what he throws his money at, it might well be described as a scam. To be fair, the IOTA team did not put much effort into explaining IOTA's weaknesses. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: tyKiwanuka on February 20, 2020, 06:25:22 PM Please support flag #1388 (https://bitcointalk.org/index.php?action=trust;flag=1388) against Come-from-Beyond (https://bitcointalk.org/index.php?action=profile;u=46556), who is “a.k.a. Come-from-Beyond... one of the founders of IOTA, and the core developer of the reference implementation (https://web.archive.org/web/20200219123309/https://blog.iota.org/welcome-sergey-ivancheglo-to-the-iota-foundation-board-of-directors-2167ca99e495?gi=6dcec624e2e8)” and is still associated with IOTA, albeit as an “unofficial advisor“ albeit with “no position in the organization” (https://web.archive.org/web/20200219123057/https://blog.iota.org/sergey-ivancheglo-departs-from-the-iota-foundation-d2d9c1c61db6?gi=a3264901ad5d).* By now CfB has nothing to do anymore with IOTA other than his company (https://paracosm.company/) using the Tangle - or intending to do so, but he will probably fork it. David Sønstebø and CfB have been bff for a long time until the moment they had different opinions about the future of IOTA. You can read what David has to say about that here (https://medium.com/@DavidSonstebo/letter-to-the-iota-community-76c940cbc315). https://abload.de/img/cfbpgjzt.jpg https://twitter.com/c___f___b/status/1224039770499796993 To my knowledge, this is the Bitcointalk account David is in control of: iotatoken (https://bitcointalk.org/index.php?action=profile;u=574177) During the split-up drama between David and CfB some weeks ago, CfB posted some private (and most likely sort of confidential) conversations on his Twitter account and Paracosm Discord. https://i.ibb.co/1bnJ27b/cfb.png (https://ibb.co/CWts0mW) Source: Paracosm Discord Most of these leaks are already deleted, but they revealed some shady things waiting to happen as you can see in the screenshot above. There are still unclaimed IOTA from the ICO and David wants (wanted) to give them to JINN. JINN is a private company in stealth mode, that was founded by David, CfB and some other unknown third guy. See more here (https://nxtforum.org/news-and-announcements/(ann)-jinn/). Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: JollyGood on February 20, 2020, 07:13:48 PM Excellent post. Thank you for the links and background information.
By now CfB has nothing to do anymore with IOTA other than his company (https://paracosm.company/) using the Tangle - or intending to do so, but he will probably fork it. David Sønstebø and CfB have been bff for a long time until the moment they had different opinions about the future of IOTA. You can read what David has to say about that here (https://medium.com/@DavidSonstebo/letter-to-the-iota-community-76c940cbc315). https://abload.de/img/cfbpgjzt.jpg https://twitter.com/c___f___b/status/1224039770499796993 To my knowledge, this is the Bitcointalk account David is in control of: iotatoken (https://bitcointalk.org/index.php?action=profile;u=574177) Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on February 20, 2020, 10:52:59 PM By now CfB has nothing to do anymore with IOTA other than his company (https://paracosm.company/) using the Tangle - or intending to do so, but he will probably fork it. David Sønstebø and CfB have been bff for a long time until the moment they had different opinions about the future of IOTA. You can read what David has to say about that here (https://medium.com/@DavidSonstebo/letter-to-the-iota-community-76c940cbc315). Thanks. Here is also the flag against that account:- snip - To my knowledge, this is the Bitcointalk account David is in control of: iotatoken (https://bitcointalk.org/index.php?action=profile;u=574177) https://bitcointalk.org/index.php?action=trust;flag=1392 Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: JollyGood on February 20, 2020, 11:37:28 PM Flag has been supported. A massive thank you to all contributors to this thread for bringing any information of substance about the IOTA team.
Thanks. Here is also the flag against that account: https://bitcointalk.org/index.php?action=trust;flag=1392 Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: tyKiwanuka on February 21, 2020, 06:53:02 PM This might be a bit off-topic, but gives some insight about the whole incident. The IOTA Foundation has released a three-part series, where they explain (in part 1) how an attacker could successfully steal around 8.5TI (around USD 2,550,000).
This was the main issue: Quote At the time of its integration into Trinity, Moonpay was only available as bundled code delivered by a CDN (content delivery network), so the IOTA Foundation integrated it as such. Although widely used in web technologies, CDN delivery has inherent risks. One of those risks is that the code expected by the device could be unknowingly replaced with code that is not expected. The IOTA Foundation flagged the risks involved and requested an NPM (Node package manager) to mitigate it. This was later published by Moonpay, after most of the integration work had already been done, but release pressure and human error added up to the Foundation not switching to the more secure NPM package prior to launch. This was the weakness leveraged by the attacker and one that could likely have been resolved if the Foundation had had a more extensive, cross-team review process for larger releases. Pretty careless and there is no way this should have happened. See the whole story here: Trinity Attack Incident (https://blog.iota.org/trinity-attack-incident-part-1-summary-and-next-steps-8c7ccc4d81e8) Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: nullius on February 22, 2020, 06:32:58 PM tyKiwanuka, JollyGood, and Lauda: Thank you. OP was promptly updated with flag #1392 (https://bitcointalk.org/index.php?action=trust;flag=1392) against iotatoken (https://bitcointalk.org/index.php?action=profile;u=574177).
Ratimov: Thank you for the translation. I have linked to it in my thread metadata post (https://bitcointalk.org/index.php?topic=5227016.msg53871591#msg53871591). Laud Lauda: Credit where due! I appreciate Nullius breaking everything down here (and for starting the thread in the first place), as I wouldn't have read anything about this scam otherwise. Thanks, but Lauda deserves the credit for the initiative. When the story broke about the IOTA network “pause”, she asked me for my opinion due to my technical expertise and the fact that I have discussed IOTA’s failings before, as quoted above. I am not easily shocked. I was shocked that IOTA has a centralized kill switch; I did not know that, until they used it! How do ordinary investors stand a chance with them? I thereupon decided that I needed to do more to warn people so that they don’t risk losing their money. Whereas that is always Lauda’s goal. It was easy, too easy for me to sit back in the Development & Technology forum two years ago and sneer at IOTA’s broken homebrew hash—then ignore IOTA, because I would never risk my money on it. Lauda has a more practical focus on helping others here. Thank you, Lauda. IOTA is the worst of all worlds I don't like the use of a centralized validator, and would not trust any coin that uses one. I think there is a place for centralized technologies: Chaumian banks. It is a matter of trade-offs. Digicash had excellent privacy and fungibility, but was centralized; Bitcoin is decentralized, but lacks Digicash’s privacy and fungibility on the blockchain layer. (Lightning mostly solves this problem in a different way.) Centralized solutions also have high performance and low overhead, generally. Whereas IOTA has none of these advantages. It promises to be a Bitcoin-style cryptocurrency, but better than Bitcoin—which it is not! In the practical terms which matter to the average user, I think that IOTA is really a Paypal-style solution, but with much higher overhead and, I think, lower security than Paypal—and it is a financially unstable altcoin which makes an even worse investment than government-issued fiat currency. Why would anybody want this? It combines the worst of all worlds! Indeed, if I had an exclusive choice between IOTA and Paypal, the answer is easy: Paypal. I say that as a Bitcoin maximalist who holds almost all his own money in Bitcoin. It appears they are rolling back (https://cryptoiq.co/iota-foundation-to-rewind-blockchain-following-1-6-million-hack/) the IOTA blockchain to reverse the transactions involving the stolen coin. Etherum did something very similar in it's early days when a hacker exploited a flaw and drained coin out of the DAO, although it has something resembling consensus before doing this. I also had that thought about Ethereum. The form that my thought took was, “This is even worse than Ethereum—much worse.” The comparison is damning, whereas I myself have previously called Ethereum a... ...Bolt A Turing Complete VM Onto A Blockchain Security Nightmare With Centrally Controlled Promise (https://web.archive.org/web/20160704190119/https://daohub.org/explainer.html)-Breaking Via “Irregular State Change (https://blog.ethereum.org/2016/07/20/hard-fork-completed/)” Exploding Clown Car Cryptokitties Toy Coin... ...among many similar words of endearment in various other posts. Ethereum rewrote the history of its blockchain with a hardfork; but it had a blockchain, and even the top-down Vitalik Says So order took some time and effort to push through. By comparison, IOTA can also rewrite their transaction history with much less effort—and IOTA just recently demonstrated that the people who run it can shut the whole thing off with the push of a button! Much, much worse. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: PrimeNumber7 on February 22, 2020, 11:55:07 PM IOTA is the worst of all worlds I would not like a Chaumian/Digicash-style bank. Digicash does not require the issuing bank to confirm the identity of transaction participants, but there is nothing preventing a bank from collecting information about transaction participants as a condition of signing new certificates. There is also the risk that the bank will become insolvent, or will issue unbacked certificates, or will simply run away with customer deposits. I don't like the use of a centralized validator, and would not trust any coin that uses one. I think there is a place for centralized technologies: Chaumian banks. It is a matter of trade-offs. Digicash had excellent privacy and fungibility, but was centralized; Bitcoin is decentralized, but lacks Digicash’s privacy and fungibility on the blockchain layer. (Lightning mostly solves this problem in a different way.) Centralized solutions also have high performance and low overhead, generally. Lighting is very similar to Digicash, except without the risks related to having a central issuing authority. There do appear to be some problems with it in practice. Whereas IOTA has none of these advantages. It promises to be a Bitcoin-style cryptocurrency, but better than Bitcoin—which it is not! I find the idea of a DAG and having transaction fees that are too small for the average user to measure (a small amount of POW per tx) interesting. The IOTA foundation appears to have a goal of eventually removing their central authority in favor of a decentralized authority who validates transactions, however I am unsure if this is possible in light of the fact that transactions are (virtually) free. In the practical terms which matter to the average user, I think that IOTA is really a Paypal-style solution, but with much higher overhead and, I think, lower security than Paypal—and it is a financially unstable altcoin which makes an even worse investment than government-issued fiat currency. Why would anybody want this? It combines the worst of all worlds! Indeed, if I had an exclusive choice between IOTA and Paypal, the answer is easy: Paypal. I say that as a Bitcoin maximalist who holds almost all his own money in Bitcoin. To be fair to IOTA, this is a single instance of reversing transactions in a case of alleged large scale theft, there is a 'slippery slope' argument, but this is not worse than what PayPal does every day. PayPal will routinely reverse transactions, block access to funds, and will blacklist individuals/entities who are doing things that PayPal does not like, even if not against any rules/regulations that PayPal has published. There is no slippery slope argument with PayPal because they are already at the end/bottom of the slope. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: nullius on February 23, 2020, 12:14:05 PM Indeed, if I had an exclusive choice between IOTA and Paypal, the answer is easy: Paypal. I say that as a Bitcoin maximalist who holds almost all his own money in Bitcoin. To be fair to IOTA, this is a single instance of reversing transactions in a case of alleged large scale theft, there is a 'slippery slope' argument, but this is not worse than what PayPal does every day. PayPal will routinely reverse transactions, block access to funds, and will blacklist individuals/entities who are doing things that PayPal does not like, even if not against any rules/regulations that PayPal has published. There is no slippery slope argument with PayPal because they are already at the end/bottom of the slope. For me to say, “I prefer Paypal to IOTA” is damning Paypal with faint praise—to make a point about IOTA. My point is that Paypal does what it says on the tin, and does it much more efficiently than anything like IOTA. This is not to promote Paypal: To the contrary, it is a reductio ad absurdum. If I wanted a centrally-controlled system that is poison to privacy, is cheerful about financial censorship, and can arbitrarily revoke transactions at any time, then I would rather use a system which frankly admits to being exactly that—and which does it using technologies that make sense (I am guessing an enterprise RDBMS), rather than pouring on buckets of snake oil crypto just to make the whole thing look fancier. Or for a different metaphor: IOTA is a Rube Goldberg contraption with the disadvantages of a centralized system, plus many additional complications. Although I do NOT trust Paypal’s security, and past performance is no guarantee that they won’t later suffer an Experian-tier giant hack or other systemic failure, I will also note that in the past 20 years, they have not suffered the sorts of “oopsies” that IOTA seems to have almost on a regular schedule. Two years ago, the big IOTA news was their broken homebrew hash—two months ago, they had that “corrupted ledger” downtime—now, this... If Paypal had IOTA’s record for security and reliability, would they still be in business? That Experian is still in business is not a counterargument here: You have no way to opt out of Experian, and their customers are others who are paying them for your information. If Paypal were to suffer extreme and/or chronic security breaches, then I would think—well, I would hope that lots and lots of people would close their accounts and run away! And that is the point of this thread: Avoid IOTA, due to a high risk of losing money. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: truth or dare on February 27, 2020, 11:05:28 PM tyKiwanuka, JollyGood, and Lauda: Thank you. OP was promptly updated with flag #1392 (https://bitcointalk.org/index.php?action=trust;flag=1392) against iotatoken (https://bitcointalk.org/index.php?action=profile;u=574177). Ratimov: Thank you for the translation. I have linked to it in my thread metadata post (https://bitcointalk.org/index.php?topic=5227016.msg53871591#msg53871591). Laud Lauda: Credit where due! I appreciate Nullius breaking everything down here (and for starting the thread in the first place), as I wouldn't have read anything about this scam otherwise. Thanks, but Lauda deserves the credit for the initiative. When the story broke about the IOTA network “pause”, she asked me for my opinion due to my technical expertise and the fact that I have discussed IOTA’s failings before, as quoted above. I am not easily shocked. I was shocked that IOTA has a centralized kill switch; I did not know that, until they used it! How do ordinary investors stand a chance with them? I thereupon decided that I needed to do more to warn people so that they don’t risk losing their money. Whereas that is always Lauda’s goal. It was easy, too easy for me to sit back in the Development & Technology forum two years ago and sneer at IOTA’s broken homebrew hash—then ignore IOTA, because I would never risk my money on it. Lauda has a more practical focus on helping others here. Thank you, Lauda. IOTA is the worst of all worlds I don't like the use of a centralized validator, and would not trust any coin that uses one. I think there is a place for centralized technologies: Chaumian banks. It is a matter of trade-offs. Digicash had excellent privacy and fungibility, but was centralized; Bitcoin is decentralized, but lacks Digicash’s privacy and fungibility on the blockchain layer. (Lightning mostly solves this problem in a different way.) Centralized solutions also have high performance and low overhead, generally. Whereas IOTA has none of these advantages. It promises to be a Bitcoin-style cryptocurrency, but better than Bitcoin—which it is not! In the practical terms which matter to the average user, I think that IOTA is really a Paypal-style solution, but with much higher overhead and, I think, lower security than Paypal—and it is a financially unstable altcoin which makes an even worse investment than government-issued fiat currency. Why would anybody want this? It combines the worst of all worlds! Indeed, if I had an exclusive choice between IOTA and Paypal, the answer is easy: Paypal. I say that as a Bitcoin maximalist who holds almost all his own money in Bitcoin. It appears they are rolling back (https://cryptoiq.co/iota-foundation-to-rewind-blockchain-following-1-6-million-hack/) the IOTA blockchain to reverse the transactions involving the stolen coin. Etherum did something very similar in it's early days when a hacker exploited a flaw and drained coin out of the DAO, although it has something resembling consensus before doing this. I also had that thought about Ethereum. The form that my thought took was, “This is even worse than Ethereum—much worse.” The comparison is damning, whereas I myself have previously called Ethereum a... ...Bolt A Turing Complete VM Onto A Blockchain Security Nightmare With Centrally Controlled Promise (https://web.archive.org/web/20160704190119/https://daohub.org/explainer.html)-Breaking Via “Irregular State Change (https://blog.ethereum.org/2016/07/20/hard-fork-completed/)” Exploding Clown Car Cryptokitties Toy Coin... ...among many similar words of endearment in various other posts. Ethereum rewrote the history of its blockchain with a hardfork; but it had a blockchain, and even the top-down Vitalik Says So order took some time and effort to push through. By comparison, IOTA can also rewrite their transaction history with much less effort—and IOTA just recently demonstrated that the people who run it can shut the whole thing off with the push of a button! Much, much worse. Anonymint called it out years ago at a design level, before that the true legend cryptohunter branded it a scam and predicted how it would go down Seems the training wheels were never removed. No need to give the credit to yourselves lauda and nullius Laudas alt. Well done though for noticing years later now that most of the damage is done. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on February 28, 2020, 11:41:11 AM I want to extend this with a flag on the user: mich (https://bitcointalk.org/index.php?action=profile;u=9645) (UUID = 9645). This account is stolen/hacked/bought and has been for a long time. I do not know who controls it. It shills pro-IOTA (among many other coins) posts despite countless red flags. He is also caught in merit abuse, merit trading et. al. Input? Evidence:
Bosch Rexroth presents IOTA-based IoT solution to an Apple Enterprise team https://www.boschrexroth.com/en/xc In a recent tweet, IOTA partner New Mobility Labs stated that Matteo Dariol presented an IOTA token-based solution to an Apple Enterprise Team for an industrial use case. As the tweet states, Dariol, Lead Innovation Strategist at Bosch Rexroth, presented the use case to the Apple team at Chicago Connectory, a technology and innovation workspace for start-ups. https://www.crypto-news-flash.com/bosch-rexroth-presents-iota-based-iot-solution-to-an-apple-enterprise-team/ Dell is big company to happy to see them with IOTA Working Group Dell Among Founding Members of IOTA Working Group American computer giant Dell is among 15 companies joining an IOTA working group to explore how the firm's "Tangle" technology can be integrated into commercial solutions. https://www.coindesk.com/dell-among-founding-members-of-new-iota-working-group New app that allows IOTA payments for parking garages Download the app here- https://play.google.com/store/apps/details?id=me.trive.trivepark.prod&hl=en_US Trive.Park enables paying the parking garage with IOTA Hardly a day goes by in recent weeks without IOTA appearing in the headlines. With the Trive.Park application IOTA is now making progress in the mobility industry. The application is a revolutionary park app based on the distributed ledger technology, developed by EDAG in cooperation with IOTA, just like the CityBot. https://www.crypto-news-flash.com/trive-park-enables-paying-the-parking-garage-with-iota/ IOTA + google sounds like a a good plan in my eyes Google-funded TinyGo Might Make IOTA Nodes to Run in Browser Plugin Form The funding of TinyGo by Google might soon help in making it easy to run IOTA nodes in a browser plugin form with the use of WebAssembly (WASM) or by creating a new compiler based on LLVM, one of IOTA Foundation’s official team member has said. https://newslogical.com/google-funded-tinygo-might-make-iota-nodes-to-be-run-in-browser-plugin-form/ A separate thread is more suited for this, but I do not feel the member is worth it. I am mostly concerned about the IOTA-related shilling, the other coins I do not care about in relation to this thread. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Gyrsur on February 29, 2020, 10:32:32 AM the timeline of the IOTA hack smells a lot like an inside job IMO. (maybe not on the management level but below?) the hack started shortly after the "reload" feature of the Trinity Wallet was released.
rhetorical question: how fast can you plan and implement such an complex attack if you are not aware of such a "reload" feature upfront? EDIT: is the user account of Dominik Schiener not known? he has a Bitcoin history (Switzerland based Crypto exchange which did broke) and I assume he was active here on bitcointalk.org too. https://www.iota.org/the-foundation/team Quote from: https://www.iota.org © 2020 IOTA Foundation - Privacy Policy Email: contact@iota.org Board of Directors: Dominik Schiener, David Sønstebø, Serguei Popov & Navin Ramachandran ID/Company No.: 3416/1234/2 EU public ID number in the EU Transparency Register: 500027331119-04 Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: tyKiwanuka on February 29, 2020, 12:07:53 PM rhetorical question: how fast can you plan and implement such an complex attack if you are not aware of such a "reload" feature upfront? The integration of Moonpay was already leaked in mid November 2019, when a spanish Trinity tester (accidentially ?) tweeted about it and deleted the tweet shortly after. https://i.ibb.co/n8DVkT9/tri1.png IOTA officially announced the integration of Moonpay (https://twitter.com/iotatoken/status/1207326269479800832) on December 18th 2019 then. The IF tracked the attack back starting at November 27th 2019: Quote This, together with the security analysis, painted a very clear picture of the stages of an evolving attack that dates back to November 27th, 2019. See: https://blog.iota.org/trinity-attack-incident-part-1-summary-and-next-steps-8c7ccc4d81e8 EDIT: is the user account of Dominik Schiener not known? he has a Bitcoin history (Switzerland based Crypto exchange which did broke) and I assume he was active here on bitcointalk.org too. This (https://bitcointalk.org/index.php?action=profile;u=164273) is his account. He officially only joined the IOTA team in early 2016, since he was still busy with some other ventures and he even missed the ICO and had to buy his stack OTC, what you can also track a bit by checking his posting history in bitcointalk. A well respected german user, who followed IOTA right from the start, talked about that here (https://bitcointalk.org/index.php?topic=1336682.msg53775515#msg53775515) and here (https://bitcointalk.org/index.php?topic=1336682.msg53771118#msg53771118). Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on February 29, 2020, 12:32:50 PM Quote from: https://www.iota.org © 2020 IOTA Foundation - Privacy Policy Email: contact@iota.org Board of Directors: Dominik Schiener, David Sønstebø, Serguei Popov & Navin Ramachandran ID/Company No.: 3416/1234/2 EU public ID number in the EU Transparency Register: 500027331119-04 EDIT: is the user account of Dominik Schiener not known? he has a Bitcoin history (Switzerland based Crypto exchange which did broke) and I assume he was active here on bitcointalk.org too. This (https://bitcointalk.org/index.php?action=profile;u=164273) is his account. He officially only joined the IOTA team in early 2016, since he was still busy with some other ventures and he even missed the ICO and had to buy his stack OTC, what you can also track a bit by checking his posting history in bitcointalk. I want to extend this with a flag on the user: mich (https://bitcointalk.org/index.php?action=profile;u=9645) (UUID = 9645). This account is stolen/hacked/bought and has been for a long time. I do not know who controls it. It shills pro-IOTA (among many other coins) posts despite countless red flags. He is also caught in merit abuse, merit trading et. al. Flag: https://bitcointalk.org/index.php?action=trust;flag=1417.- snip - OP please add. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on March 06, 2020, 01:44:35 PM Next rating and flag I propose:
IOTA is still in beta development and will be for quite a while, the vast majority of investors understand this, so the recent problems with the trinity wallet doesn't really change the future outlook of the project. This is a lie. IOTA is a proven scam. (https://bitcointalk.org/index.php?topic=5227016.0) Need more time to think about it, investigate user and write a proper rating. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: allyouracid on March 06, 2020, 03:23:37 PM @Lauda based on your quote, I think a flag is a bit over the top. He seems like a dedicated user who still has hope that the project might fulfill its promises, one day. Haven't checked his previous posts, but based on the quote, I see no danger of fraud etc coming from this user. :)
Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on March 07, 2020, 07:57:02 AM @Lauda based on your quote, I think a flag is a bit over the top. He seems like a dedicated user who still has hope that the project might fulfill its promises, one day. Haven't checked his previous posts, but based on the quote, I see no danger of fraud etc coming from this user. :) I am considering it. The very least a negative rating, so that others are informed that the user's claims and statements are untrue. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: ifinta on March 07, 2020, 11:30:01 AM Some earlier opinion from me and others:
https://bitcointalk.org/index.php?topic=5173154 (https://bitcointalk.org/index.php?topic=5173154) Just to remark, IOTA supported by EU - please see the thread, and some document in it...... IOTA has connections to Bitfinex and Tether. IOTA was the first alt at Bitfinex (after Litecoin, but Litecoin was used threre since the start). What should I say??? Tether had some "lost dollars" in last year, the "lost dollars" was always approx. the same "dollars" in volume as the IOTA marketcap had (~billion dollar). It is "maybe" only a parallel and random event :) They found someone to pay this bill ( an investor - of course :D ). Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: allyouracid on March 07, 2020, 03:10:25 PM IOTA was the first alt at Bitfinex (after Litecoin, but Litecoin was used threre since the start). I'm pretty sure that ETH was listed WAY before IOTA... I still remember Potter's legendary message on some slack when the DAO desaster happenedQuote from: PGP I wish I never listed this piece of shit coin! .edit: here (https://blog.bitmex.com/ethereum-go-gotta-fork-them-all/) I think this is a conspiracy theory at best. The market cap isn't defined by the actual money flowing into the projects. That's likely just a coincidence. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: ifinta on March 08, 2020, 01:41:40 AM IOTA was the first alt at Bitfinex (after Litecoin, but Litecoin was used threre since the start). I'm pretty sure that ETH was listed WAY before IOTA... I still remember Potter's legendary message on some slack when the DAO desaster happenedQuote from: PGP I wish I never listed this piece of shit coin! .edit: here (https://blog.bitmex.com/ethereum-go-gotta-fork-them-all/) I think this is a conspiracy theory at best. The market cap isn't defined by the actual money flowing into the projects. That's likely just a coincidence. I just checked - as IOTA was selected for the trade on Bitfinex the following alt's was also on the Bitfinex Market tradeable (ok - you have right): Litecoin, ZCash, Monero, Dash, XRP, ETH/ETC (I hope it is a whole list already) https://www.bitfinex.com/posts/206 (https://www.bitfinex.com/posts/206) But: every alt's - before IOTA - was a well established alt on the market already at the time its listing on Bitfinex - every was already in the top 100 on the coinmarketcap.com - I think, but IOTA was the first alt, which had the possibility to start on the market through Bitfinex! It was parallel listed on the coinmarketcap.com... ((in this way was only IOTA the first, sorry because some uncertainty, but it is also a big difference to other alt's. It was a little strange listing from Bitfnex)) What I consider at the start, and later - is documented in an other thread: If we invested 230 dollar in BITCOIN in late 2015, then we have today ~8200 dollar ("yesterday" 12000 dollar, "tomorrow" maybe 5000 dollar or 150000 dollar :D we know.......) If we invested 230 dollar in IOTA in late 2015, then we have today ~2515 dollar Or? Just a question. What is the TRUE ROI of IOTA???? :D https://i.imgur.com/6UeLH57.png The thread above contains also some information about the truth ROI of IOTA, and about the ROI showed on the coinmarketcap.com. The ROI of IOTA on the coimarketcap.com is also a scam, I think..., I see... And about your remark: "a conspiracy theory" Yes. You have right here also: It is a truth conspiracy, I think... :) ... with very much support from side some governments... ... and the BIG RED BUTTON is a LEGAL TOOL :D ... just to consider ... :D What should I say more? ??? Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: l8orre on March 18, 2020, 07:54:46 PM nice! Troll Time again in the forgotten Bilge Belly of Crypto! Never gets old! Gibber and gabber away, Trolls, always makes me smile! Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on March 18, 2020, 09:07:38 PM nice! Troll Time again in the forgotten Bilge Belly of Crypto! Never gets old! Gibber and gabber away, Trolls, always makes me smile! Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: ifinta on March 21, 2020, 08:59:37 PM nice! Troll Time again in the forgotten Bilge Belly of Crypto! Never gets old! Gibber and gabber away, Trolls, always makes me smile! I think, the post was simple off-topic :) He means the Trolls in a film of DreamWorks... Or? https://i.imgur.com/4X8aRFH.jpg Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on April 11, 2020, 06:21:07 PM
Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: l8orre on April 15, 2020, 01:42:48 PM
Don't spread misinformation. It's a just mix of cherry picked bullshit in the thread you're referencing. If you lost funds, it's probably your own fault. Trinity hack victims will be compensated, IF handled this very well. I think IOTA is one of the most transparant and fair ecosystems in crypto. silly little moron missed all boats that sailed in the crypto world since 2013, and now as a therapy for his poor little ego believes himself to be some kind of a scam hunter with the aim of damaging successful projects that launched without him. check his post history, this is some kind of anally fixated bean counter that keeps tabs on shill acounts on this forum :D :D :D @Lauda - got nothing better to do with your time, Idiot? oh, and before you spin up your bullshit about paid or compromised account again: neither here, just a happy and rich ICO investor that had the foresight and the balls to chip in a BTC to a project that you obviously were too stupid to realize the potential of. ;D you know, TWATS like you are muddying the waters for real SCAMS, so you are even too stupid for scam hunting! .. wow, organizing lynch mobs- are you sure you won't be happier in some SJW safe space? Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: ifinta on April 15, 2020, 07:54:08 PM Some info from twitter... A very good caricature about some "truth" behind the scenes...
https://twitter.com/durerus/status/1250462823798489088 (https://twitter.com/durerus/status/1250462823798489088) https://i.imgur.com/YzqUtJG.png As I see, David Sonstebo already treated from project side as an official scammer... YES, he has a firm - for JINN. But... About the "TROJEAN" horse: it has three legs... Sure. Since early 2016...... Please see the Circulating Supply of IOTA: https://i.imgur.com/Lyl5ApT.png Some calculations: https://i.imgur.com/WkK19ty.png Durerus, Luey Forje, ... maybe has 10% - 20% of the whole market cap: from the 2779 TERA IOTA i.e. 400 - 500 TERA IOTA (or more, maybe less???) They are LEGAL RICH PEOPLE? With the support of i.e. Deutsche Bahn, EU, Tether USD, ... ? ;D With a support - up to ~yesterday - of a official scammer PM, David ??? Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: ifinta on April 17, 2020, 02:12:11 PM ThatsABity trying to protect IOTA community and IOTA fundation against some questions of me... I think, this person dangerous and supports scammers - since many years!!!
https://blog.iota.org/iota-research-status-update-april-2020-f1c3576b57db (https://blog.iota.org/iota-research-status-update-april-2020-f1c3576b57db) Many thanks Lauda, it is clear, it is a scam, but it exists victims also. So I have some questions to the "IOTA community and IOTA fundation"...... - When will be the REAL-NET started? ((Exists a deadline already? What happens, if the deadline will be not possible to hold?)) - How are you able to guarantee, that EVERY TOKEN in the actual SCAM-REAL-NET (or TEST NET ??? - after the market start ???) was always correct transferred, no double-spends, no-lost was made... ((no log-data or source was about coordinator published... I think.)) - What are you planning with the actual SCAM-REAL TOKENS, offered to the market? ((mostly tokens in hand of insider trader already)) - What are you planning with original Investors, original token-owners before this SCAM-REAL-NET was started? ((About original investors, original token-owners: They hoped a start of a real net, but it is clear since YEARS, IOTA today has only a SCAM-REAL-NET, and IOTA-NET was long run not a DLT project... Only insider know'd some of the future changes, i.e. support of Bitfinex, support of EU, support and existence of "corporate members"... )) I think, slowly a time to establish an IOTA-Legal group to invest a little in Legal proceedings against this SCAM, and against insider trading in it...... - Exists already a such Legal Group? You sound confused man. Should search for help of some mental professional. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on April 17, 2020, 04:38:33 PM ThatsABity trying to protect IOTA community and IOTA fundation against some questions of me... I think, this person dangerous and supports scammers - since many years!!! If somebody wants to take a look, here's the profile link: https://bitcointalk.org/index.php?action=profile;u=1006152. If it turns out to be the case (I need time to evaluate), I will tag and flag him too.Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: l8orre on April 17, 2020, 08:46:23 PM ThatsABity trying to protect IOTA community and IOTA fundation against some questions of me... I think, this person dangerous and supports scammers - since many years!!! If somebody wants to take a look, here's the profile link: https://bitcointalk.org/index.php?action=profile;u=1006152. If it turns out to be the case (I need time to evaluate), I will tag and flag him too.yay! on your witch hunts again, silly little loser?! nice profession you have there ;D Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: ifinta on April 18, 2020, 05:21:33 AM ThatsABity trying to protect IOTA community and IOTA fundation against some questions of me... I think, this person dangerous and supports scammers - since many years!!! If somebody wants to take a look, here's the profile link: https://bitcointalk.org/index.php?action=profile;u=1006152. If it turns out to be the case (I need time to evaluate), I will tag and flag him too.yay! on your witch hunts again, silly little loser?! nice profession you have there ;D Are you mean - ThatsABity doing a "witch hunts"? I think, it is the TRUTH, WELL. The "silly little loser" are the EU politicians, which supported IOTA? Sure also!!! Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: ifinta on April 27, 2020, 09:30:54 PM FYI: ... I asking the moderator of IOTA thread to act again to correct the project - to implement it as feasible wisely and not support "members", posts - scam others in the future ...
But... Back to work... Please, CfB - do a real work AGAIN. I see, you trying to do, but ... I don't know, what STOPs YOU, I trying to support YOU AGAIN, for a REAL work, without ANY unnecessary discussion of shit... I think, the TRUTH community support you (the admin of this thread), if you deciding to REALIZE IOTA as it feasible wisely... You tweeted, I changed a little, I would like to get OPINIONS about it: https://i.imgur.com/Tkz30Zi.png https://twitter.com/ifinta66/status/1254883978101825538 (https://twitter.com/ifinta66/status/1254883978101825538) https://i.imgur.com/Bp2rw9r.png A "nice and respectful" environment on the twitter - around IOTA ... https://i.imgur.com/f0OOepq.png And this "nice and respectful" environmnt is growing, and growing, and ... NICE. They are the "respectful" community??? https://i.imgur.com/BlsqMOy.png Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: tyKiwanuka on May 02, 2020, 09:21:12 AM There are more and more voices wanting David Sønstebø to resign from IOTA Foundation. The driving force behind this is his ex-bff Sergey Ivancheglo aka Come-from-Beyond, who is butthurt about the IOTA protocol going in a different direction than he initially planned (mainly the binary vs trinary aspect).
Couple of weeks ago CfB already leaked a conversation between the two, which gives some interesting insight and additional information between the lines: What really happened before David Sonstebo and CFB parting ways (chat log) (https://medium.com/@comefrombeyond/what-really-happened-before-david-sonstebo-and-cfb-parting-ways-chat-log-a2fcf2cb34b7) In the Paracosm Discord (https://discordapp.com/invite/Eu8qfnW) a list popped up recently, which features an overview of "Potentially illegal or unethical behavior of the IOTA Foundation": https://www.notion.so/Potentially-illegal-or-unethical-behavior-of-the-IOTA-Foundation-83df131d43374a32be33ab15b38abdf8 Additional information: JINN is a ternary processor (https://medium.com/@comefrombeyond/jinn-the-trinary-processor-efbcb226e5d4). JINN needs IOTA, that is why IOTA was built. JINN labs was founded by David, CfB and an unknown third guy. JINN is said to be dead now, investors lost their money. Announcement JINN (https://nxtforum.org/news-and-announcements/(ann)-jinn/) Paracosm is a VR/AR gaming company from CfB. He has a gaming background and the purpose of building IOTA was to make his VR/AR vision become reality. IoTIFY (https://iotify.io/) is part of Ternary GmbH (https://ternary.sh/), which is a company from David, registered in Switzerland, where an Indian guy is CEO (https://sh.chregister.ch/cr-portal/auszug/auszug.xhtml?uid=CHE-314.781.730). Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on May 02, 2020, 09:25:43 AM Couple of weeks ago CfB already leaked a conversation between the two, which gives some interesting insight and additional information between the lines: What really happened before David Sonstebo and CFB parting ways (chat log) (https://medium.com/@comefrombeyond/what-really-happened-before-david-sonstebo-and-cfb-parting-ways-chat-log-a2fcf2cb34b7) Tl;dr version?Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: tyKiwanuka on May 02, 2020, 09:42:36 AM Tl;dr version? Hehe, hard to give ;D It's a conversation from November 2019 until February 2020. It covers IOTA Foundation internal things like nepotism, political agendas, power abuse, monthly costs. You have hints about shady things with token reclaims, clean addresses, lots of money (IOTA tokens) changing hands. Discussions about the IOTA protocal in general and how companies/partners are more and more disappointed with non-results from IF. You can read how David wants/wanted to push his private companies; what role JINN plays in this whole construct. And last but not least two friends splitting up, where one (David) comes over as mature, while the other (CfB) acts like a child. It's really an interesting read overall, because it gives an insight what happens behind the curtains of a crypto project. And I guess this does not only happen inside IOTA, but with lots of crypto projects - and in "real life" companies & politics. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Lauda on May 02, 2020, 09:59:57 AM Tl;dr version? Hehe, hard to give ;D It's a conversation from November 2019 until February 2020. It covers IOTA Foundation internal things like nepotism, political agendas, power abuse, monthly costs. You have hints about shady things with token reclaims, clean addresses, lots of money (IOTA tokens) changing hands. Discussions about the IOTA protocal in general and how companies/partners are more and more disappointed with non-results from IF. You can read how David wants/wanted to push his private companies; what role JINN plays in this whole construct. And last but not least two friends splitting up, where one (David) comes over as mature, while the other (CfB) acts like a child. It's really an interesting read overall, because it gives an insight what happens behind the curtains of a crypto project. And I guess this does not only happen inside IOTA, but with lots of crypto projects - and in "real life" companies & politics. Title: cleanIOTA: A closer look at the IOTA Foundation Post by: Hund_cleanIOTA on June 11, 2020, 12:17:38 PM Hello,
My name is Hund. I have decided to carry out an investigation into the management practices of the IOTA Foundation. I will be focusing on both potentially illegal and unethical behavior. The topics I am currently interested are the use of the IOTA Foundation resources for personal profit and the leadership practices of the members of the Board of Directors. If you believe you have valuable information and wish to collaborate, please write to Hund at cleaniota@protonmail.com. https://notion.so/cleaniota (https://notion.so/cleaniota) https://notion.so/cleaniota/FAQ (https://notion.so/cleaniota/FAQ-4c2230d29e9447df93d759fd1fbc2227) Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Hund_cleanIOTA on June 15, 2020, 11:50:41 AM Sergey Ivancheglo has published the Memorandum of Understanding that the Board of Directors of the IOTA Foundation signed five days after the 2018 Board leak.
https://www.notion.so/cleaniota/IOTA-Foundation-0c96e7936c164dfe9e8ef1218fe0e13a#327e67a54a314fa9bea3619add62543d (https://www.notion.so/cleaniota/IOTA-Foundation-0c96e7936c164dfe9e8ef1218fe0e13a#327e67a54a314fa9bea3619add62543d) The revelations included in this document, make the "MoU leak" as big as the 2018 "Board leak" and the 2020 "Breakup leak". In the 2018 Board leak, Ralf Rottmann said: “Just thinking about all of the other stuff that will come to light, makes me extremely worried”. He later addressed the concerns of the community about this sentence. https://www.reddit.com/r/Iota/comments/95qi3b/just_thinking_about_all_of_the_other_stuff_that/e3vg700/ (https://www.reddit.com/r/Iota/comments/95qi3b/just_thinking_about_all_of_the_other_stuff_that/e3vg700/) The MoU sheds light on why Ralf Rottmann was "extremely worried". He feared that, in his struggle to control the Board, David Sønstebø could reveal sensitive personal information about Dominik Schiener, co-founder of the IOTA Foundation. /cleanIOTA-Board-of-Directors]http://[Suspicious link removed]/cleanIOTA-Board-of-Directors (http://[Suspicious link removed) The MoU refers to IOTA AS and Jinn Labs as two separate entities. This contradicts David Sønstebø's claim to disgruntled Jinn investors that "Jinn Labs is IOTA AS". The MoU was signed by David Sonstebo himself. https://www.notion.so/cleaniota/823de8eb6bee4ba78026d429957018a0#b19c32f251494b3483504c8341c6031d (https://www.notion.so/cleaniota/823de8eb6bee4ba78026d429957018a0#b19c32f251494b3483504c8341c6031d) Dominik Schiener said in the 2018 Board leak: "good luck. IOTA AS will have some serious legal issues with the advisor tokens and the impending tax audit. I am done with this. I am done with being threatened." https://pastebin.com/482HVvPu (https://pastebin.com/482HVvPu) To avoid potential tax issues, the MoU established that all the proceeds from the "Big Deal Fund" would be owned by "Schiener & Sønstebø GbR", an unregistered partnership, and used to fulfil the advisor token "verbal" agreements, without the intervention of IOTA AS or the IF. The MoU confirms that the IOTA Foundation transferred 0.5% of the total supply of IOTA "unclaimed" Tokens to IOTA AS, a company owned by David Sønstebø. The MoU refers in several occasions to Serguei Ivancheglo as a shareholder of IOTA AS. Together with Sergey Ivancheglo's employment contract with IOTA AS, this contradicts David Sønstebø's recent claims stating that David Sønstebø is the sole owner of IOTA AS. https://www.notion.so/cleaniota/9d007a5d94a6400abe057c327e566b1c#45b186ba0e334161b91732979d05600b (https://www.notion.so/cleaniota/9d007a5d94a6400abe057c327e566b1c#45b186ba0e334161b91732979d05600b) https://www.notion.so/cleaniota/823de8eb6bee4ba78026d429957018a0#05e6300b145d4decb117c356f6378183 (https://www.notion.so/cleaniota/823de8eb6bee4ba78026d429957018a0#05e6300b145d4decb117c356f6378183) I submitted the news about the "MoU leak" to r/Iota and r/IOTAmarkets. Both submissions have been removed by the moderators. https://www.reddit.com/user/Hund_cleanIOTA (https://www.reddit.com/user/Hund_cleanIOTA) IOTA investors and members of the IOTA Community have a right to know about the MoU leak. David Sønstebø should resign from the IOTA Foundation as soon as possible, for the sake of decency and for the good of IOTA. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: ThatsABity on June 17, 2020, 11:07:40 AM ThatsABity trying to protect IOTA community and IOTA fundation against some questions of me... I think, this person dangerous and supports scammers - since many years!!! If somebody wants to take a look, here's the profile link: https://bitcointalk.org/index.php?action=profile;u=1006152. If it turns out to be the case (I need time to evaluate), I will tag and flag him too.LOL. I'm not even involved with IOTA fondation. just invested in IOTA. Just trying to fight misinformation. But go ahead, and try to frame me. Title: Re: cleanIOTA: A closer look at the IOTA Foundation Post by: JollyGood on June 17, 2020, 02:09:18 PM How is the investigation going? Did many people send valuable information to you anonymously?
Hello, My name is Hund. I have decided to carry out an investigation into the management practices of the IOTA Foundation. I will be focusing on both potentially illegal and unethical behavior. The topics I am currently interested are the use of the IOTA Foundation resources for personal profit and the leadership practices of the members of the Board of Directors. If you believe you have valuable information and wish to collaborate, please write to Hund at cleaniota@protonmail.com. https://notion.so/cleaniota (https://notion.so/cleaniota) https://notion.so/cleaniota/FAQ (https://notion.so/cleaniota/FAQ-4c2230d29e9447df93d759fd1fbc2227) Title: Re: cleanIOTA: A closer look at the IOTA Foundation Post by: ifinta on June 17, 2020, 05:36:40 PM How is the investigation going? Did many people send valuable information to you anonymously? Hello, My name is Hund. I have decided to carry out an investigation into the management practices of the IOTA Foundation. I will be focusing on both potentially illegal and unethical behavior. The topics I am currently interested are the use of the IOTA Foundation resources for personal profit and the leadership practices of the members of the Board of Directors. If you believe you have valuable information and wish to collaborate, please write to Hund at cleaniota@protonmail.com. https://notion.so/cleaniota (https://notion.so/cleaniota) https://notion.so/cleaniota/FAQ (https://notion.so/cleaniota/FAQ-4c2230d29e9447df93d759fd1fbc2227) I sent today some data i.e. https://github.com/ifinta/iota-backups Title: Re: cleanIOTA: A closer look at the IOTA Foundation Post by: Hund_cleanIOTA on June 22, 2020, 11:19:56 AM How is the investigation going? Did many people send valuable information to you anonymously? Yes. There are several people who have contacted me and shared valuable information. Sometimes it doesn't lead to anything, other times they help a lot. This is going to take time. There are many angles to explore. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: Hund_cleanIOTA on June 22, 2020, 11:26:38 AM Circumstantial evidence points to Dominik Schiener, co-founder of the IOTA Foundation, being the criminal hacker known as Cystomatic aka. Alhalama.
Several pieces of evidence show the connection between the hacker Cystomatic (aka. Alhalama) and Dominik Schiener:
The following evidence shows that Cystomatic changed his name to Alhalama and, therefore, Cystomatic and Alhalama are the same person.
Crimes committed by Cystomatic aka. Alhalama include hacking and defacing websites, installing keyloggers, selling administration logins, selling site databases, and buying, using and selling remote access trojans.
After starting IOTA, Dominik Schiener described his hacking experience: Quote "I started hacking computer games when I was 14 and then sold these modifications and earned a fair amount of income for my age and effort. With the money, I then tried to build an advertising platform" Quote "And so with that experience I started going on this quest, kind of hustling, like bring out what kind of product I should create to make money because at the time I really wanted to be independent. I wanted to make money so I don't rely on anyone". The IOTA community and investors have the right to know this information. I have posted it in r/Iota and r/IOTAmarkets but the posts have been removed. Sources:
Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: ifinta on June 22, 2020, 03:35:35 PM Nice.
What I read about Dominik, it is really fantastic :D Congratulation! Many thx Hund! I am curious what coming next. Title: Re: cleanIOTA: A closer look at the IOTA Foundation Post by: JollyGood on June 22, 2020, 10:51:10 PM I hope you have success in your investigations and hope you post updates here as and when you able to.
How is the investigation going? Did many people send valuable information to you anonymously? Yes. There are several people who have contacted me and shared valuable information. Sometimes it doesn't lead to anything, other times they help a lot. This is going to take time. There are many angles to explore. Title: Re: cleanIOTA: A closer look at the IOTA Foundation Post by: Hund_cleanIOTA on June 25, 2020, 09:08:03 AM I hope you have success in your investigations and hope you post updates here as and when you able to. Thank you for your support. I will keep on posting here the main findings. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: redecision on July 01, 2020, 09:46:12 PM I am a victim of the hack of february 2020 I have lost 35Gi. Is there anything I can do ?
Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: tyKiwanuka on July 01, 2020, 09:54:33 PM I am a victim of the hack of february 2020 I have lost 35Gi. Is there anything I can do ? Sorry to hear that, hope you will get those back. I would recommend to go into their Discord (https://discord.iota.org/), present your case there and talk to someone from IF. Afaik David will compensate affected users, but be prepared to be asked to deliver detailed proof and also various documents for KYC. Title: Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money Post by: redecision on July 02, 2020, 09:13:53 AM I am a victim of the hack of february 2020 I have lost 35Gi. Is there anything I can do ? Sorry to hear that, hope you will get those back. I would recommend to go into their Discord (https://discord.iota.org/), present your case there and talk to someone from IF. Afaik David will compensate affected users, but be prepared to be asked to deliver detailed proof and also various documents for KYC. |
