Bitfinex HACKED - funds stolen !

[philiveyjr]

I read more than 80m$ worth of coins stolen. So little of them dumped till now. When this is over we may see below 300$ if that's true.

This will end so badly. Everything that people worked for till now will be dirt. Families will be ruined. So sad.

Usually in cases like these, the coins aren't sold immediately due to everyone trying to track them. But its the speculation and the market sentiments which leads to the crash. The real crash happens later when those coins are actually sold. But I doubt they are sold on exchanges.

[Zoomer]

How stupid is this service or exchanger did they really keeped 120K bitcoins ONLINE? Why not use hardware wallets or paperwallets for a such high sum of money i got the feeling they just try to run away and steal money

[Tanic]

I even didn't hear about such online exchanger as Bitfinex. But it's is just crazy. That shows that every online exchanger is not saved. But from where you found that this site is illegal? Must be exactly cause of that bitcoin fell down yesterday.

[mayax]

How stupid is this service or exchanger did they really keeped 120K bitcoins ONLINE? Why not use hardware wallets or paperwallets for a such high sum of money i got the feeling they just try to run away and steal money

Answer from Bitfinex:

We don't use cold storage for bitcoin, since our implementation with bitgo we've used segregated customer wallets so that each user has their own bitcoin wallet.  


So, no cold wallet, no reserves, no nothing. Speachless   LOL

Of course, it doesn't say about their bank account where all their cash is stored

[btbrae]

Let's face it, none of these "exchanges" are secure, because they are run by people. People are greedy, it is nature. Most people have figured out by now that these companies don't get "hacked", they get a greedy employee or even owner who decides that they stand to gain far more than they can possibly lose when the average law officer barely knows how to use a keyboard let alone mine Bitcoin transaction data. And so we see the same pattern repeat itself; missing BTC, weeks offline, suddenly the owners disappear into a wall of a shame, yeah right - in the Caribbean somewhere. That's why the price tanks, because so long after Mtgox people are still relying on centralized exchanges where this happens time and time again. These "hacks" tend to come in waves also, as all great thieves realise that any diversion is an opportunity, so having your BTC on any exchange right now is folly.

[Gyrsur]

Let's face it, none of these "exchanges" are secure, because they are run by people. People are greedy, it is nature. Most people have figured out by now that these companies don't get "hacked", they get a greedy employee or even owner who decides that they stand to gain far more than they can possibly lose when the average law officer barely knows how to use a keyboard let alone mine Bitcoin transaction data. And so we see the same pattern repeat itself; missing BTC, weeks offline, suddenly the owners disappear into a wall of a shame, yeah right - in the Caribbean somewhere. That's why the price tanks, because so long after Mtgox people are still relying on centralized exchanges where this happens time and time again. These "hacks" tend to come in waves also, as all great thieves realise that any diversion is an opportunity, so having your BTC on any exchange right now is folly.

+1

maybe inside job! let's wait for more explanation from them.

[Snorek]

How stupid is this service or exchanger did they really keeped 120K bitcoins ONLINE? Why not use hardware wallets or paperwallets for a such high sum of money i got the feeling they just try to run away and steal money

Answer from Bitfinex:

We don't use cold storage for bitcoin, since our implementation with bitgo we've used segregated customer wallets so that each user has their own bitcoin wallet.  


So, no cold wallet, no reserves, no nothing. Speachless   LOL

Of course, it doesn't say about their bank account where all their cash is stored

This is hilarious and to be frank it is exactly what you will get by trying to be smart and cut corners.
We suffered the 2nd biggest theft in the history of bitcoin just because these bastard refused to use cold wallets?

[Sidi25]

i agree totally with that! Isnt it everytime and everywhere the same problem with ppl.
Someone gives them a bit the power of sth and they start to be greedy as hell.
Noone is really happy with what he has.

[Searing]

How stupid is this service or exchanger did they really keeped 120K bitcoins ONLINE? Why not use hardware wallets or paperwallets for a such high sum of money i got the feeling they just try to run away and steal money

Answer from Bitfinex:

We don't use cold storage for bitcoin, since our implementation with bitgo we've used segregated customer wallets so that each user has their own bitcoin wallet.  


So, no cold wallet, no reserves, no nothing. Speachless   LOL

Of course, it doesn't say about their bank account where all their cash is stored

This is hilarious and to be frank it is exactly what you will get by trying to be smart and cut corners.
We suffered the 2nd biggest theft in the history of bitcoin just because these bastard refused to use cold wallets?

So because it is CUSTOMER segregated wallets so each user has their OWN bitcoin wallet that means they likely will just WALK from any responsiblity for this
in that it is likely stated in their terms of service someplace all funds in your above OWN wallet is at your own risk.

Hell with that kinda out...they probably walked off with the funds themselves....multisig wallets my ass..they never multisig'd anything or the funds would be there

[mayax]

How stupid is this service or exchanger did they really keeped 120K bitcoins ONLINE? Why not use hardware wallets or paperwallets for a such high sum of money i got the feeling they just try to run away and steal money

Answer from Bitfinex:

We don't use cold storage for bitcoin, since our implementation with bitgo we've used segregated customer wallets so that each user has their own bitcoin wallet.  


So, no cold wallet, no reserves, no nothing. Speachless   LOL

Of course, it doesn't say about their bank account where all their cash is stored

This is hilarious and to be frank it is exactly what you will get by trying to be smart and cut corners.
We suffered the 2nd biggest theft in the history of bitcoin just because these bastard refused to use cold wallets?

So because it is CUSTOMER segregated wallets so each user has their OWN bitcoin wallet that means they likely will just WALK from any responsiblity for this
in that it is likely stated in their terms of service someplace all funds in your above OWN wallet is at your own risk.

Hell with that kinda out...they probably walked off with the funds themselves....multisig wallets my ass..they never multisig'd anything or the funds would be there

it's nice to earn.... 60 millions overnight, right?

split in 4-5 = aprox 12 mil usd each Bitfinex's member + the amount from their bank accounts...not bad at all. you can live a great life anywhere with these money without doing anything all your life excepting parties, women, travels

[Doamader]

Soo this were the big new that damage the bitcoin price soo fast, i believe the coins are being dropped already, why would the market react to a bad management of an exchange, thanks i dont use them, just yobit and poloniex the best exchanges i know.

[Denker]

A minute ago was a report about the BitFinex hack on CNN Live International.
Expect some major media shitstorm the next coming days guys!
The mainstream media will not ignore this desaster.

[Gyrsur]

A minute ago was a report about the BitFinex hack on CNN Live International.
Expect some major media shitstorm the next coming days guys!
The mainstream media will not ignore this desaster.

very important is that BitFinex should come up with an good explanation of the event ASAP. until now it is an inside job for me because they used multisig with BitGo.

[james.lent]

A minute ago was a report about the BitFinex hack on CNN Live International.
Expect some major media shitstorm the next coming days guys!
The mainstream media will not ignore this desaster.

very important is that BitFinex should come up with an good explanation of the event ASAP. until now it is an inside job for me because they used multisig with BitGo.

Well im not too sure about that. Quoted from their twitter reply:

We've stated several times that our Bitgo implementation removed hot/cold wallet as every user had their own wallet.

https://twitter.com/bitfinex/with_replies

[mayax]

A minute ago was a report about the BitFinex hack on CNN Live International.
Expect some major media shitstorm the next coming days guys!
The mainstream media will not ignore this desaster.

very important is that BitFinex should come up with an good explanation of the event ASAP. until now it is an inside job for me because they used multisig with BitGo.

they denied this thing. they said "it was an "external" hack".

as for "We've stated several times that our Bitgo implementation removed hot/cold wallet as every user had their own wallet."     - if this is true, say BYE to your funds   Bitfinex will wash their hand, packed the money they have in their bank accouunts and "hasta la vista, baby"   

[Foxpup]

they probably walked off with the funds themselves....multisig wallets my ass..they never multisig'd anything or the funds would be there

I don't think so. I very much doubt Bitfinex is directly responsible, because indeed they never used multisig - BitGo did, and they did it in a ludicrously negligent way. BitGo (claims they) can't access the user's private keys, but they do control the browser-based signing code the users run. BitGo (or anyone who has access to their servers) can serve malicious code to steal the client's keys, giving them the 2 of 3 keys needed to steal the money. This would also explain why some user's wallets haven't been touched - they can only steal from users who logged in using the malicious code. I'll bet you bitcoins to blueberries that's how it went down.

[fenican]

It's been said a lot but probably not enough -

NEVER KEEP ANY SIGNIFICANT AMOUNT OF BTC AT AN EXCHANGE

[BTC786]

Everything goneeeee 

[BTC786]

It's been said a lot but probably not enough -

NEVER KEEP ANY SIGNIFICANT AMOUNT OF BTC AT AN EXCHANGE

Now it seems to be NO Exchanges can trust

[BTC786]

they probably walked off with the funds themselves....multisig wallets my ass..they never multisig'd anything or the funds would be there

I don't think so. I very much doubt Bitfinex is directly responsible, because indeed they never used multisig - BitGo did, and they did it in a ludicrously negligent way. BitGo (claims they) can't access the user's private keys, but they do control the browser-based signing code the users run. BitGo (or anyone who has access to their servers) can serve malicious code to steal the client's keys, giving them the 2 of 3 keys needed to steal the money. This would also explain why some user's wallets haven't been touched - they can only steal from users who logged in using the malicious code. I'll bet you bitcoins to blueberries that's how it went down.

Bitgo no safe as they using 3rd party