ShapeShift "hack" an inside job

[alani123]

In case you're not aware by now, shapeshift.io went down citing a hack. As it turns out, this is probably an inside job by a former employee assisting the hack.


https://www.reddit.com/r/shapeshiftio/comments/4eolhy/update_on_last_weeks_hack_apr_13/

[bitcoin revo]

See, this is what companies should be doing. Not covering up, making lies, and scrambling to make things right. Full transparency trumps lying any day; even though the most immediate and obvious results are going to be negative, it's still worth it in the long run. In fact, by not covering things up, Shapeshift made themselves stronger.

[zenitzz]

Hopefully what all their say is true and honestly I like seen them say all problems openly all these problems quickly completed and the thief or former employees were caught.

[longbob72]

they said that someone previously on their team helped the hacker. was this someone got kicked out (or quit) before or after the hack? it would be alarming if someone that quit/got kicked out of their team a long time ago can actually do something very compromising even though they are working from the outside.

[BitcoinSupremo]

Lets hope its truly an inside job and not some other cryptsy on the radar, I know shapeshift has better community support, but I would expect everything now after major exchanges before run with users money. Truly hope to see them back in action soon and with tighter security for themselves and everyone else using their service.

[Quartx]

Lets hope its truly an inside job and not some other cryptsy on the radar, I know shapeshift has better community support, but I would expect everything now after major exchanges before run with users money. Truly hope to see them back in action soon and with tighter security for themselves and everyone else using their service.

Look at all the major exchanges that have fallen after being super popular. Almost every single one who claim to have been hacked or hack has seen coins drifting out of their accounts for months "without realising" at all. Almost all of them ended up to be inside jobs or even the owners themselves. I have used Shapeshift once when it was working, it was fast and good, I just hope that they get back on their feets soon with a better infrastructure and have better clearance for their own stuff and the way they handle all their coin wallets

[tiggytomb]

This is a real shame and does nothing but hurt cryptos reputation, I hope all the other popular exchanges take note and take into consideration security when a member of the team leaves, even on good terms.

[Supercrypt]

they said that someone previously on their team helped the hacker. was this someone got kicked out (or quit) before or after the hack? it would be alarming if someone that quit/got kicked out of their team a long time ago can actually do something very compromising even though they are working from the outside.

It is highly likely that THAT person did the hack for revenge from getting kicked or quitting because of personal reasons.
Although it is also possible that the person designed the system, quits (because he's got his job done) and helped a hacker.
There are many possibilities. Let's just hope that they'll do better with their system and staff so this wouldn't happen again.

[alani123]

This is a real shame and does nothing but hurt cryptos reputation, I hope all the other popular exchanges take note and take into consideration security when a member of the team leaves, even on good terms.

Yup, you'd think that a company like Shapeshift would abide to the most basic standards of security and safety infrastructures to run their business, but no, they got burned by people they relied on so easily. Shapeshift was extremely easy to use for newbies but their management seems to be just incompetent after this. They claim that there weren't any losses but there's no way to truly prove this, despite the fact that they refunden withheld user funds, it's possible that they're now on debt which has only lead to bad things for bitcoin exchanges (Cryptsy, MtGox...).

[Patatas]

So you mean withdraw the coins or we're having another Cryptsy situation here.I'd be on the safe side instead.Wonder if this is really a inside job as mentioned or its the tactics used by the company to handle the situation like every other Gox exchange.Its difficult to digest news posted by their own sources.

[BitsandBites]

Dammit is nothing safe here. So many companies i 'believe and trust' seem to become a victim of either a scammer or this tiem somebody inside.
It's unbelievable... really unbelievable.

[laudaQW]

sad to know that, every where scammers

[Barcode_]

I hope shapeshift will be back as soon as possible, they are the best website to exchange a lot of altcoins.

[ravens]

See, this is what companies should be doing. Not covering up, making lies, and scrambling to make things right. Full transparency trumps lying any day; even though the most immediate and obvious results are going to be negative, it's still worth it in the long run. In fact, by not covering things up, Shapeshift made themselves stronger.

I absolutely agree with you. Any acts of deception just make things worse.