Bitfinex Got What They Deserved

[Minecache]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

[Azael]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

Do you ever get tired of spreading lies? https://www.reddit.com/r/Bitcoin/comments/4vtuxo/bitfinex_security_breach_trading_will_be_halted/d61cjwa

[yudy]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

Do you ever get tired of spreading lies? https://www.reddit.com/r/Bitcoin/comments/4vtuxo/bitfinex_security_breach_trading_will_be_halted/d61cjwa

news about bitfinex attack hacker is true
iam very sad is about bitfinex hack, price bitcoin drop and down

[X7]

What are you even talking about? They only had their BTC hot wallet compromised.

[iamnotback]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

Do you ever get tired of spreading lies? https://www.reddit.com/r/Bitcoin/comments/4vtuxo/bitfinex_security_breach_trading_will_be_halted/d61cjwa

news about bitfinex attack hacker is true
iam very sad is about bitfinex hack, price bitcoin drop and down

119k BTC confirmed stolen.

Hackers are apparently emboldened by the community's choice to respect the rules of the blockchain.

Hopefully this will begin to put an end to centralized exchanges and a move towards DEX.

It's all good (even though I've lost 20% of the value of my BTC).

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

No it is a lesson that people need to stop trusting their security to centralized entities. And they need to buy a hardware wallet.

The hard fork option is a complete abrogation of the raison d'être of blockchains.

[shyliar]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

So you're saying if a thief steals peoples money from the DAO that's a bad thing and if a thief steals peoples money from an exchange that's a good thing?

[iamnotback]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

So you're saying if a thief steals peoples money from the DAO that's a bad thing and if a thief steals peoples money from an exchange that's a good thing?

No he is saying that if ETH can hard fork to stop the DAO benefactor hacker, then BTC should hard fork to stop the $70 million theft from Bitfinex. And I disagree with him. No bailouts! The blockchain rules are immutable.

[shyliar]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

So you're saying if a thief steals peoples money from the DAO that's a bad thing and if a thief steals peoples money from an exchange that's a good thing?

No he is saying that if ETH can hard fork to stop the DAO benefactor hacker, then BTC should hard fork to stop the $70 million theft from Bitfinex. And I disagree with him. No bailouts! The blockchain rules are immutable.

LOL well the one thing I'm sure of with these events is that Bitcoin will not hardfork. And here I thought that when he wrote "Bitfinex Got What They Deserved" that he was pleased.

[raphma]

mETH heads are so funny
What does that have to do with ETC??

" the criminal coin" lol. this always makes me laugh.

[jacaf01]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

If that is the case what about other exchanges that listed ETC before Bitfinex did. Please lets be rational with our argument rather than basing it on emotions. They are careless with the fund and security of their exchange likewise slockit team

[miayama]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

Do you ever get tired of spreading lies? https://www.reddit.com/r/Bitcoin/comments/4vtuxo/bitfinex_security_breach_trading_will_be_halted/d61cjwa

news about bitfinex attack hacker is true
iam very sad is about bitfinex hack, price bitcoin drop and down

119k BTC confirmed stolen.

Hackers are apparently emboldened by the community's choice to respect the rules of the blockchain.

Hopefully this will begin to put an end to centralized exchanges and a move towards DEX.

It's all good (even though I've lost 20% of the value of my BTC).

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

No it is a lesson that people need to stop trusting their security to centralized entities. And they need to buy a hardware wallet.

The hard fork option is a complete abrogation of the raison d'être of blockchains.

So we need decentralized exchanges. Or we need to make the security very tight. 119k btc is a lot.

[Pursuer]

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

So you're saying if a thief steals peoples money from the DAO that's a bad thing and if a thief steals peoples money from an exchange that's a good thing?

No he is saying that if ETH can hard fork to stop the DAO benefactor hacker, then BTC should hard fork to stop the $70 million theft from Bitfinex. And I disagree with him. No bailouts! The blockchain rules are immutable.

well then he is full of it.
ethereum was forked because it was flawed, so they changed they hard forked it. also it was because ethereum whales has lost their money and wanted it back, so centralization helped them getting it back.

in case of bitfinex hack, bitcoin has no flaw. the problem was with idiots who were using it and apparently didn't know what a cold storage is. there is no UNDO button here.

[NorrisK]

-snip-

-snip-

-snip-

-snip-

in case of bitfinex hack, bitcoin has no flaw. the problem was with idiots who were using it and apparently didn't know what a cold storage is. there is no UNDO button here.

That is the strange thing here to me.. I thought the exchanges had learned by now how important security is and to keep hot and cold wallets serperated.

If your cold wallet gets compromised, it should only be possible by an inside job from some high level person who has access to it and even then you would want a second person to sign the transfer.

I hope the fallout will not be as big as with mt. gox, but it sure does explain the massive drop in btc price.

[Divinespark]

I read somewhere on Twitter that they changed the 99% cold wallet approach in favour of the Bitgo solution in order to comply with US law. If true, how fucked up is that?

[Babayega31]

-snip-

-snip-

-snip-

-snip-

in case of bitfinex hack, bitcoin has no flaw. the problem was with idiots who were using it and apparently didn't know what a cold storage is. there is no UNDO button here.

That is the strange thing here to me.. I thought the exchanges had learned by now how important security is and to keep hot and cold wallets serperated.

If your cold wallet gets compromised, it should only be possible by an inside job from some high level person who has access to it and even then you would want a second person to sign the transfer.

I hope the fallout will not be as big as with mt. gox, but it sure does explain the massive drop in btc price.

Its so shady really in how could they realize for this they running for long time and they are big exchange and they didnt secured properly in their balances, and thats totally crazy to think dude and its really got bif effect of btc price we see a big fall down in just a certain hours, and the really question floating there does bitfinix will be the next mt.gox.

[Spoetnik]

mETH heads are so funny
What does that have to do with ETC??

" the criminal coin" lol. this always makes me laugh.

Centralized Exchanges  

..stupid mETH heads LOL

[spartak_t]

And what they deserved? To be screwed from inside? Bitfinex's transactions must be co-signed by BitGo, but BitGo claims that there is no security breech on their side. I'm not an expert, but I find this a bit strange.......

This is situation in which pretty much everybody are suffering short term losses, and there is nothing funny in that.

[Piston Honda]

VERY poor security on their end, especially for being such a "high end" site? pfffffffffffttttttttttttttttt, disgusting.

1ex.trade at least will have the proper measure in place to stop this kinda shit.

no more amateur hour! ppl are fucking fed up!!

[iamnotback]

ethereum was forked because it was flawed

in case of bitfinex hack, bitcoin has no flaw. the problem was with idiots who were using it and apparently didn't know what a cold storage is. there is no UNDO button here.

Ethereum wasn't any more flawed than it was specified to be. The idiots trusted the DAO code and they got the result of the DAO code.

"Idiots" have trusted the Bitfinex code and they got the result of the Bitfinex code.

[spartak_t]

Only Divinespark and I pointed to something else, but most of you guys are too busy to mock with Bitfinex and what happened. There you go:

https://news.bitcoin.com/bitfinex-us-regulation-cold-storage/