Bitfinex HACKED - funds stolen !

[Quickseller]

You know what's weird? The only communication bitfinex is having with the outer world right now is through a community manager's Reddit account. Has what this user been saying confirmed? https://www.reddit.com/user/zanetackett

I would guess that everyone else is trying to figure out what exactly happened. Based on their public statements, they do not know how the attacker was able to gain access to both the "hot" signing key and access to BitGo (and get around the signing restrictions that they had with BitGo).

Might just be an internal job for all we know. Seems to be a trend now-a-days claiming to be jacked when things are actually not going on so well internally. Just my 2 cents.

They seem to be fairly confident that it is not an inside job, at least based on their community manager's reddit posts. I would guess that they have some amount of information that suggests that the attack came from the outside.

[hypersire]

Where are the damn MEMES?  
Make it a good one for this special event.

119,756 BTC

[smoothie]

This will again look like a slap in the face of Bitcoin when in fact all the blame should go only to BitFinex.  The clueless media will put a spin to this and tarnish Bitcoin's reputation once again.  And BitFinex was running an illegal business?  How did all of that volume got traded in there?  We need more non-FUD, fact based information about these exchanges.  Their profiles and their histories.  I think it's the community's responsibility to look out for each other.

You forgot to mention another set of bitcoin obituaries to come.

If only users would heed the history of previous exchange hacks there would be much less bitcoin stolen in these events.

It appears to be a conditioning that many are accustomed to (storing their funds with a "trusted" 3rd party).

May as well just use the legacy banking system if you're going to do that.

[smoothie]

And fuck this shit! Everytime bitcoin tries to go up a shitty exchange goes down taking the price down. Fuck fuck fuck!

If your measure of bitcoin is in fiat (and only in fiat) then perhaps you missed the whole point of what bitcoin was created for.

This price move is just SHORT-TERM NOISE in the big picture.

[NattyLiteCoin]

Curious that ETC is pushing almost 180k of volume right now. Largest I've ever seen on polo.

[bones261]

And fuck this shit! Everytime bitcoin tries to go up a shitty exchange goes down taking the price down. Fuck fuck fuck!

If your measure of bitcoin is in fiat (and only in fiat) then perhaps you missed the whole point of what bitcoin was created for.

This price move is just SHORT-TERM NOISE in the big picture.

Cryptography is eventually going to go by the wayside. Eventually quantum computers will make solving the hashes trivial. In 50 years, if not sooner, everyone will be using biometrics to access their online information. Needless to say, Bitcoin and all of the other altcoins will be obsolete, just like cryptography.

[smoothie]

i very sad to hear this, I have 0.5btc in it,now,i cann't login!!
am i will lose this btc?

Almost yes, you will loose them.

They are already lost.  Gone.  

Another clear reason why fiat is better.  In fiat, the government comes in to cover the bank / exchange losses and the people get a royal fucking on the back end.  In Bitcoin, there are no bailouts. 

So then you clearly support the establishment in how they operate (i.e. bail outs)?

In the free market there is no such thing as a bail out. Your mindset is a product of how the system has conditioned you into a specific way of thinking.

[smoothie]

And fuck this shit! Everytime bitcoin tries to go up a shitty exchange goes down taking the price down. Fuck fuck fuck!

If your measure of bitcoin is in fiat (and only in fiat) then perhaps you missed the whole point of what bitcoin was created for.

This price move is just SHORT-TERM NOISE in the big picture.

Cryptography is eventually going to go by the wayside. Eventually quantum computers will make solving the hashes trivial. In 50 years, if not sooner, everyone will be using biometrics to access their online information. Needless to say, Bitcoin and all of the other altcoins will be obsolete, just like cryptography.

This ^ is an example of SHORT-TERM NOISE.

As of today there is no working available version of a quantum computer. Just like how back in 1985 there was no working version of a time traveling Dolorian in the Movie Back to the Future.

And still today there is no publicly known version available either.

To make such predictions with no real links/facts/proof is hogwash and more SHORT-TERM NOISE.

[Yakamoto]

And fuck this shit! Everytime bitcoin tries to go up a shitty exchange goes down taking the price down. Fuck fuck fuck!

If your measure of bitcoin is in fiat (and only in fiat) then perhaps you missed the whole point of what bitcoin was created for.

This price move is just SHORT-TERM NOISE in the big picture.

There is some merit to keeping a peg between fiat and Bitcoin though, since there is a noticeable difference in the purchasing power of Bitcoin once the price swings. Bitcoin will almost never be a ubiquitous form of payment used by everyone, and fiat will have to have some hand in it at some point. Keeping track of the price drops and everything is definitely something that has to be paid attention to, and it will always be something that is important.

While there is a bigger picture out there, it doesn't have as much merit as reality and everything happening.

[notbatman]

Apparently the hacker was selective and only certain users had their BTC stolen.

[smoothie]

And fuck this shit! Everytime bitcoin tries to go up a shitty exchange goes down taking the price down. Fuck fuck fuck!

If your measure of bitcoin is in fiat (and only in fiat) then perhaps you missed the whole point of what bitcoin was created for.

This price move is just SHORT-TERM NOISE in the big picture.

There is some merit to keeping a peg between fiat and Bitcoin though, since there is a noticeable difference in the purchasing power of Bitcoin once the price swings. Bitcoin will almost never be a ubiquitous form of payment used by everyone, and fiat will have to have some hand in it at some point. Keeping track of the price drops and everything is definitely something that has to be paid attention to, and it will always be something that is important.

While there is a bigger picture out there, it doesn't have as much merit as reality and everything happening.

A peg is definitely useful. No argument there.

My point is that if 90-99% of users buying and selling bitcoin kept their funds off the exchange (which is possible), there would be that much less losses when thefts like this occur.

The bigger picture has merit, but you would need to acknowledge it to see it.

There have been numerous exchange hacks...and the same result has happened...bitcoin lives on. So far it has...

Wait 2 weeks, 6 months, or a year and see how much this hack is talked about.

News operates emotionally like how the markets react when big price swings happen, they oscillate with large gyrations and continue to oscillate with smaller and smaller ones until there is somewhat of a "equilibrium".

Then it is just waiting for the next catalyst to spark movement in the market.

The same is true for people's awareness and acknowledgement of news (like hacks etc) the emotions and buzz around the discussion is very very intense and over time it smooths out and reaches an equilibrium where little to no discussion happens much.

This is the trend I've noticed for some time now.

[pooya87]

i woke up this morning to see the price took a big hit in the face, i was down until i saw this topic and realized it is just panic selling because of the huge amount stolen!

ok my conspiracy theory. Is not necessary true, i maybe not believe it but has a value

Bitfinex the past last months has always problems and always was investigating different situations.
Anyone think that this "hacking" maybe is a simple an exit scam?

i wouldn't be surprised if this was the case, it has happened before with cryptsy. they had some problems (smaller ones) before they were "hacked"!

[smoothie]

Apparently the hacker was selective and only certain users had their BTC stolen.

Probably not the best word to describe it...I can't imagine a thief being selective of who they want to and dont want to steal from on an exchange.

Perhaps the word "limited" might work better to describe it.

Got a link to support your statement?

[smoothie]

i woke up this morning to see the price took a big hit in the face, i was down until i saw this topic and realized it is just panic selling because of the huge amount stolen!

ok my conspiracy theory. Is not necessary true, i maybe not believe it but has a value

Bitfinex the past last months has always problems and always was investigating different situations.
Anyone think that this "hacking" maybe is a simple an exit scam?

i wouldn't be surprised if this was the case, it has happened before with cryptsy. they had some problems (smaller ones) before they were "hacked"!

It wouldn't surprise me a bit if this was just finding a local bottom in forming another ascending pennant/triangle in the price.

I've found sanity in not looking at the price charts all day every day. Taking a peek from time to time is healthy.

[bones261]

And fuck this shit! Everytime bitcoin tries to go up a shitty exchange goes down taking the price down. Fuck fuck fuck!

If your measure of bitcoin is in fiat (and only in fiat) then perhaps you missed the whole point of what bitcoin was created for.

This price move is just SHORT-TERM NOISE in the big picture.

Cryptography is eventually going to go by the wayside. Eventually quantum computers will make solving the hashes trivial. In 50 years, if not sooner, everyone will be using biometrics to access their online information. Needless to say, Bitcoin and all of the other altcoins will be obsolete, just like cryptography.

This ^ is an example of SHORT-TERM NOISE.

As of today there is no working available version of a quantum computer. Just like how back in 1985 there was no working version of a time traveling Dolorian in the Movie Back to the Future.

And still today there is no publicly known version available either.

To make such predictions with no real links/facts/proof is hogwash and more SHORT-TERM NOISE.

Unlike time travel to the past, which has no accepted scientific theory to elude to the possibility, quantum mechanics is an established scientific thoery. Many advancements can happen in 50 years. For example, the WWW did not even exist 50 years ago. Also, we recently detected gravity waves and a few years back verified the Higgs Boson.

[7788bitcoin]

Where are the damn MEMES?  
Make it a good one for this special event.

119,756 BTC

Now we just have another reason for the hardfork: To reverse the stolen bitcoin, just like what happened to Ethereum and DAO!!

[bones261]

Where are the damn MEMES?  
Make it a good one for this special event.

119,756 BTC

Now we just have another reason for the hardfork: To reverse the stolen bitcoin, just like what happened to Ethereum and DAO!!

Look at where that got them. Now they have ETC and ETH. What a mess. 

[arseaboy]

i woke up this morning to see the price took a big hit in the face, i was down until i saw this topic and realized it is just panic selling because of the huge amount stolen!

ok my conspiracy theory. Is not necessary true, i maybe not believe it but has a value

Bitfinex the past last months has always problems and always was investigating different situations.
Anyone think that this "hacking" maybe is a simple an exit scam?

i wouldn't be surprised if this was the case, it has happened before with cryptsy. they had some problems (smaller ones) before they were "hacked"!

and it affects the btc price for a small amount of time it will bounce back and it will be stronger i guess this hacker will sell the btc from time to time so it will be added again to the volume let see if how many weeks or months will take this to recover.

[smoothie]

And fuck this shit! Everytime bitcoin tries to go up a shitty exchange goes down taking the price down. Fuck fuck fuck!

If your measure of bitcoin is in fiat (and only in fiat) then perhaps you missed the whole point of what bitcoin was created for.

This price move is just SHORT-TERM NOISE in the big picture.

Cryptography is eventually going to go by the wayside. Eventually quantum computers will make solving the hashes trivial. In 50 years, if not sooner, everyone will be using biometrics to access their online information. Needless to say, Bitcoin and all of the other altcoins will be obsolete, just like cryptography.

This ^ is an example of SHORT-TERM NOISE.

As of today there is no working available version of a quantum computer. Just like how back in 1985 there was no working version of a time traveling Dolorian in the Movie Back to the Future.

And still today there is no publicly known version available either.

To make such predictions with no real links/facts/proof is hogwash and more SHORT-TERM NOISE.

Unlike time travel to the past, which has no accepted scientific theory to elude to the possibility, quantum mechanics is an established scientific thoery. Many advancements can happen in 50 years. For example, the WWW did not even exist 50 years ago. Also, we recently detected gravity waves and a few years back verified the Higgs Boson.

1. Theory != Proof....personally I dont spend much time on theories especially ones that may not materialize in 50 years.

2. 50 years most of us on this forum will likely be dead or in very old age. The topic may not even be of interest to us anymore.

3. No one knows what other unforeseen technology/market/etc will come about.

No one knew the internet would be born in the late 20th century, and no one really knew that Bitcoin (in its current form) would exist back then either.

It's difficult to predict these things so theories that take multiple decades to materialize may (to me at least) be irrelevant given our limited life span on earth.

[smoothie]

...
Now we just have another reason for the hardfork: To reverse the stolen bitcoin, just like what happened to Ethereum and DAO!!

Look at where that got them. Now they have ETC and ETH. What a mess. 

Love your comment. Definitely something to make a meme about given ETH forking and bitfinex getting hacked.