google for bitstamp cold wallet address and you'll find that right away.  but bitstamp claim to have 183,497.40310794 BTC... hmmm never mind, wrong date Yeah, the dropping size of the cold storage could simply be explained through losing market share to bitfinex/okcoin/etc; In november 2013 they had 194,933 BTC and in May 2014 about 10k less. After all they haven't done much to compete against modern exchanges like okcoin and bitfinex. Or they were bleeding bitcoins through an exploit. It would be very reassuring to know they are holding 134 000 BTC, they should sign the address here : https://blockchain.info/address/1JoktQJhCzuCQkt3GnQ8Xddcq4mUgNyXEaThey said they keep 10-15% in hot storage.
So...at least 180,000 bitcoins.
"they said"........... can we still believe anything a "hacked" exchange says though ? thats the real question if the past is anything to go by ,get out everything you can ASAP The site is not accessible. i meant ASAP as in at the earliest opportunity.........as soon as it opens if i had money or coin there i would withdraw i imagine many people will do the same |
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If bitcoin price goes down, they will easily recover the loss in a couple of months, however if the price keeps going up, then they would need to operate in fractional reserve mode for a very long time
who will ever agree to put their btc in a fractional reserve system ?? especially one thats already been negligent enough to be hacked for millions of dollars worth i want my btc instantly when i press the withdraw button or at least know its available when i want it back and not involved in some fractional system that doesnt even have enough balance to break even ............... short off a miracle ,i think the writing is on the wall for bitstamp ,even if they repaid everyone ,the trust is gone ....... |
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Looks like not much progress happened, hopefully the court will do something soon.
has any court in the history of the world ever recovered crypto for 'victims?' mintpal had a terms of service that said they were not responsible for losses. Losses on investments, not theft. all they have to do is claim they were "hacked" and that will probably be the end of it loses are loses seems like almost every week someone scams millions of dollars of btc and practically nothing ever comes of it the law needs a long time to catch up with innovation .........most judges would have a clue what a bitcoin is |
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If they were truly honest they could put back a simplified website so people could check their accounts and see their balances and even request fiat transfers since the problem was with their bitcoin wallet.
assuming theyre not going to liquidate the business and ...............keep the lot like gox etc |
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They may be big but not big enough to recover from a 5.2 million loss (if it was a real hack )
customer trust will be non-existant after this so even if they worked for free
for the next few years (which they probably wont or cant ) the fees would be so low it would take forever to recover this loss
(if they cant protect their own coins/money ,im not trusting them to protect mine etc )
communication has been pretty bad apart from the odd tweet telling people not to worry when we need a bit more than that
they wont even comment on the exact total of coins in storage etc
far easier to claim bankrupt ,blame the hacker and retire with the loot (if they have it )
or open again under a different name and start again fresh and free from debts and obligations
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what kind of security were they running to manage to "lose" 19,000btc ??
there is no way this shit can still be happening in 2015 after its happened so many times previously
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A lot of people are saying that this is the end of Bitstamp. That they've been goxed and that any bitcoins held on the site are now gone. This isn't true. Bitstamp WILL easily recover from this hack. It sucks that this happened, but this isn't really a huge disaster and it should by no means affect the survivability of the company.
On the 5th of January, Bitstamp lost 18,000 BTC from a 200,000 BTC reserve. That's about 9% of the total reserve.
Percentage-wise, this is very similar to the hack that Poloniex suffered in 2014. It lost 12% of its bitcoins due to a technical glitch which was exploited by a hacker. That exchange was able to recover its reserves in just mere months. It has enjoyed a spotless security record since then.
In August 2014, Bter also lost 50 million NXT worth about $1.6 million due to a hacker. After a while, they were eventually able to recover 42 million NXT making their net loss 8 million NXT and a couple hundred BTC which they sold to the hacker for bargain prices in exchange for the return of the bulk of the stolen NXT. Today, they're still operating perfectly fine.
Bitstamp has had $10 million injected into it from venture capitalist/hedge fund firm Pantera. So as a last resort, they could use this money to refund its customers. Bitstamp earns millions of dollars every year from trading fees. The majority of their coins are held in cold storage. Mike Hearn, a trusted Bitcoin dev audited their BTC reserves several months ago and confirmed that everything looked OK. The fact that only 9 percent of all funds were stolen means that the security benefits of separating hot and cold wallets is working. Services like MyBitcoin, inputs.io, and Mt. Gox that failed to properly separate the two have seen the majority of their funds disappear. From the look of this hacking incident, it is clear that Bitstamp is not making the same mistake.
TL:DR; Your deposits are safe. There is no need to worry.
your numbers maybe wrong ,according to another thread their cold wallet has roughly 130k coins regardless of what they have in the cold wallet, 5.2 million usd of uninsured deposits is a lot to cover and the first suggestion i would have is its an inside job like gox ,mintpal and practically all the others seems to happens every exchange when they start doing high volume .............(like retirement for life kinda money ) |
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People keep attributing the fall to $270 on the 19k coins being dumped on Finex or other exchange(s). This is not the case!! The coins haven't moved out of the address they were sent to ----- > https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCfCould the fall have been due to dumping precipitated by insider info..? yes. Were the hacked Bitstamp coins dumped..? no. Can the coins be dumped..? not easily and definitely not in a way that is going to crash the market further. So just stop... please... thanks already... the coins can be dumped incredibly easy what makes you think they can't ? They can't be dumped on the open market. It's hard to find a 5M worth buyer or sell this much in fractions off market too. (off market deals do not directly influence the public markets) In reality, these coins don't worth much. forget i asked, ill just reiterate they can be dumped incredibly easy and will be Mixers don't work well (especially for large amounts) and are being de-annonymized. You need to transfer to an exchange to change to altcoins and those coins can also be marked and tracked. Localbitcoins is an option but will leave a trail and requires meeting in person or bank details. Shady deals are possible but difficult to arrange and now that the whole world knows the Bitstamp coins are out there it would be quite difficult to move big blocks of them in this way without raising red flags. So tell me exactly, how are they going to dump these coins on the market? there is no reason to dump them -just cash a few every month for the rest of your life and live in luxury 5.2 million is enough to have a decent life in any country |
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i dont think a chinese exchange would have any qualms about accepting a load of stolen coins if there was a profit involved  and good luck taking them to court if they ever did but its more likley the coins will be sold off a little at a time and there will ne punishment for the hacker as usual ............ |
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Some more funny spelling mistakes (made on purpose?):
ASIC -> ASCI
ETF -> EFT
Winkewoss -> Winklewii
It's funny because it sort of shows stupidity and when it's pretended it's just an inside joke on people like falllling. Also, ignorant readers will catch it on and perhaps start to make the same mistake without knowing it.
in the facebook movie the winklevoss brothers were known collectively as the winklevii iirc dont know if they use it in real life though ........ |
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They said they keep 10-15% in hot storage.
So...at least 180,000 bitcoins.
"they said"........... can we still believe anything a "hacked" exchange says though ? thats the real question if the past is anything to go by ,get out everything you can ASAP |
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its possible that this hack has been planned over several months ...........its very possible the hacker registered using a stolen identity or fake passport etc
Agree with this, but that still does not mean he would withdraw fiat as you need to withdraw to an account in the same name of the ID you have sent to Bitstamp. in eastern european countries the banking laws are very lax compared with usa or uk and corruption is rife etc you could probably open an account with a fake ukranian or bulgarian driving licence etc these are available to criminals fairly easily ,even on silk rd but i think its unlikely the hacker will convert to fiat anytime soon and when he does it will be in small chunks because nobodys going to walk into a bank and withdraw 5 million in cash for btc he just stolen |
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Hey crazy rabbit you have been around for a long time, why do you always come into threads like this being so incredible naive? Here is a post from you from February: I highly, highly, doubt Gox is going belly up. They handle an enormous volume both in trade and deposit/withdrawals. Obviously there is some sort of issue that needs to get solved. Maybe there is some sort of issue that only crops up with very large withdrawal volume. Either way, chill out. :-)
Seems you have not learned much. When stuff like this happens the correct response is always to act fast and be very aggressive. Everyone with money stuck on Stamp should really take the advice of smoothie and Nagel. Oh really? Maybe it's more of a strong indication that they have reason to worry the hacker might have been in the system earlier than they think, already sold bitcoins and was hoping to withdraw FIAT before being caught.
You must never have tried withdrawing from Bitstamp or you would know their KYC/AML routines are very strict. Do you really think a hacker who is sitting on 5m in Bitcoin would give up his identity to withdraw a little bit of fiat? its possible that this hack has been planned over several months ...........its very possible the hacker registered using a stolen identity or fake passport etc 5 million is a lot of money so this attack might have been well planned its also possible the loses are even bigger than stated (more than they can repay etc ) and theyre wondering WTF to do about it |
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why isnt there another sub sections only for ponzi`s... everyone only greedy idiots gets burned from ponzi`s.. like why.
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Cmon guys leave him, the fact that hes lost more than 50% of his investment doesnt mean hes done or homeless, dont be ignorant
unless hes already sold them ,he hasnt lost any of his investment he will still gain a shitload when the block rewards halves or btc are eventually traded on the nyse and nasdeq etc theres way too many posts from get rich quick kids and people who say btc is doomed and never will be worth anything ,yet they choose to spend their time hanging out in a btc forum ............oho the irony Wrong, it's called unrealized loss. Probably wrong. No reason to assume we will stop dumping now. Halving won't change that. And you spell Nasdaq wrong. You sound like one of those 'get rich quick kids'. Much irony. So that part was spot on  it isnt a loss if he still has the btc when it rises ...............the game is far from over yet dump your coins and fuck off if you have no belief in this why do you even need to hang around a btc forum if you really believed bitcoin is worthless ? |
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i selling this account 0.25
pm me for your offers
Another one. Congratulations on making your account useless. useless for scams or dishonesty etc ..... still worth the same to an honest signature advertising campaign |
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Cmon guys leave him, the fact that hes lost more than 50% of his investment doesnt mean hes done or homeless, dont be ignorant
unless hes already sold them ,he hasnt lost any of his investment he will still gain a shitload when the block rewards halves or btc are eventually traded on the nyse and nasdeq etc theres way too many posts from get rich quick kids and people who say btc is doomed and never will be worth anything ,yet they choose to spend their time hanging out in a btc forum ............oho the irony |
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More than likely, he's trying to forget that this ever happened.
He is sitting pretty on more than 600BTC that could be worth millions in just a few years. What investments do YOU have that could make you a millionaire? Only in bitcoin land can a person be "sitting pretty" on an investment that's already lost 50%. So dumb... and if its worth 10million usd in 5 years .........was it still dumb ? some people people dont care about the daily price ,theyre in it for the long term like buying a property in the hope it will gain in value over years or storing bars of gold etc |
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Like, how about every 4 years when the reword is halved, run a script that compresses all Bitcoin transactions down to just the addresses that actually have money The problem with your plan is that addresses don't exist on the blockchain, much less have a balance. another problem with that is people may have a certain payment address they have given to customers to use in the future etc even if it contains no balance right now ,they may well be expecting to use it in future and its too much hassle to give your customers 1 payment address and then have to tell them we need to usea difernt one now because the ........................... what happens to transcations sent to addresses that no longer exist ? i dont think this is the answer to the problem tbh ............. |
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Just because the court ruled in favor of the syscoin people doesn't guarantee they will get anything back
In the normal non btc world judges rule stuff all the time but often there is nothing left to give to the victims
If he claimed he's been hacked into and there's nothing left to give back there's not much hope of getting it all back, he might get a few months in jail or something but the coins are still lost whether he has them stashed or not, he's going to blame the hacker.....
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