[ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B

[jwiz168]

On the contrary, KMD notary nodes displayed why they are of existence.  To patrol any unscrupulous activities happening inside the blockchain. The past incident displayed how quick the response and the reaction of the team. For the record some had worse in the past but still recovered and made stronger stands. I don't see a disaster , I honestly see opportunities . KOMODO is a great project . A bug for exploits is a part of growing pains for any crypto projects . Dont despair KMD will recover and be more secure than before.

[markj113]

refund me my 0.2 BTC

ROFLMAO!  

The high rollers arent happy lol.

Shit happens,

Its not the first and it wont be the last coin to have a hicup (inc. BTC)

The important fact is it was identified early,will be fixed and the dev team were open and honest about what happened.

[Johnny00]

When all the hate starts coming that's the best time to buy. Buy when others are fearful and sell when people are greedy. Warren buffet.

When companies have issues and still a bright future. Hold tight

[vincetcm]

The project is excellent,
What should be done to arrange the price?

[jl777]

I have released a release candidate that is generating new blocks and the notary nodes are testing it. I think it has been about 12 hours since I first saw the attack, but if all goes well we will go from the current transition mining to free for all at 236000 and resume normal dPoW block generation.

Since I have been up for a while, I want to make sure we get past the transition to 236000 before onboarding the exchanges.

Would want a few hundred more blocks before the GPU pools come back in.

The result of this event is that 1.5 million KMD was created in the mainchain, but they are frozen, so the 1.5 million KMD isnt going anywhere. However, after it was announced that the chain will be stopped and restarted at 235300, the attacker started mining like crazy essentially creating his own chain. And with most of the block generation going offline, the attacker ended up with a lot of blocks which he stuffed full of illicit KMD.

bittrex had deposits disabled, so there was no illicit KMD traded at bittrexx
cryptopia only had a very small amount

but cryptox ended up with about 3.5 million illicit KMD, most of which traded at significant discounts to the bittrex market. We are currently working out what to do about that situation.

the mainchain doesnt have those 3.5 million KMD, most of it was mined on the attacker's private chain after notice of 235300. We realize people's concerns over their funds. Let me make clear that your KMD was not at risk during this entire episode. The potential dilution from massive illicit coins has been prevented.

I think the worst outcome for people would be that they wont make windfall profits from buying KMD at 200 sats on cryptox, yes some traded for that low. It is a balance between the interests of the low price purchasers and the community at large. This trading was with the illicit KMD and not the mainchain and it is too bad that we didnt have time for all the exchanges to block deposits.

Quite an eventful start to the week. KMD is generating blocks regularly again and with the exception of the cryptox low price buyer windfalls, I think all the other issues are now under control.

I will try to get some rest and hope for a clean resolution on the cryptox issue

[jl777]

clean resolution on the cryptox issue

Sounds like it will all come down to how many BTC the attacker had time to withdraw, right?

our estimate is less than 25 btc
so to put it in perspective this is a relatively small event compared to historical

[texasvsjohnson]

The hacker dumped the price to 152 sat on cryptopia, so well good job jl777 ,now my investment worth a dust

Only 15k KMD was dumped on cryptopia. So, it does not affect anything.
Price on Bittrex is pretty stable.

Bittrex is full of bots that pump up the prices on the cryptos. Its nothing close to stable.

[Drai]

clean resolution on the cryptox issue

Sounds like it will all come down to how many BTC the attacker had time to withdraw, right?

our estimate is less than 25 btc
so to put it in perspective this is a relatively small event compared to historical

I'm tempted to say the team solved the problem brillanty, but I world like to understand details off the hack qnd which kind of vulnerability has been exploded

[francisserik]

When will the Komodo coins be tradable again on the exchanges?

[jl777]

When will the Komodo coins be tradable again on the exchanges?

it has been trading all along on bittrex.

I am recommending the other exchanges wait until at least after block 236200 before reenabling. A full resync is needed and that will also give us time to make sure we are indeed stable

[Drai]

Only 15k KMD was dumped on cryptopia. So, it does not affect anything.
Price on Bittrex is pretty stable.

Bittrex is full of bots that pump up the prices on the cryptos. Its nothing close to stable.

I think that bots can do nothing when people don't fud them with liquidity to keep up the market. And I've seen many buyers putting buy wall where there was lack of seller

[francisserik]

When will the Komodo coins be tradable again on the exchanges?

it has been trading all along on bittrex.

I am recommending the other exchanges wait until at least after block 236200 before reenabling. A full resync is needed and that will also give us time to make sure we are indeed stable

Thanks. When I buy some on Bittrex now and you do a rollback, do I lost my coins?

And how long will it take to reach that block?

[jl777]

clean resolution on the cryptox issue

Sounds like it will all come down to how many BTC the attacker had time to withdraw, right?

our estimate is less than 25 btc
so to put it in perspective this is a relatively small event compared to historical

I'm tempted to say the team solved the problem brillanty, but I world like to understand details off the hack qnd which kind of vulnerability has been exploded

it was an oversight in a special case of block validity checking. I had all the complicated pax deposit/withdraw totals matched up with pending cross chain swaps but there was a test for a special 2 vout coinbase as we use the second vout for the price feed data.

So it was testing for this special case properly, but the default path of the 2 vout coinbase (which cant be any pax tx) was set to ok, instead of error.

totally my oversight, and the case where you spend all your effort on the difficult part and dont check for the simplest exeptions to the simplest case. I will take a 1 million KMD responsibility for this and contribute that much to a cryptox make good fund. I believe the long delay from our request to stop deposits and when it was finally done was a contributing factor that made it go as big as 3.5 mil, but with 1 million KMD, that means at least one third of all the cryptox KMD can be made real.

this combined with the 25 BTC to make cryptox whole and I think we have most of the solution

I will use personal KMD for the 1 million contribution to the makegood fund.

[alt213]

On the contrary, KMD notary nodes displayed why they are of existence.  To patrol any unscrupulous activities happening inside the blockchain. The past incident displayed how quick the response and the reaction of the team. For the record some had worse in the past but still recovered and made stronger stands. I don't see a disaster , I honestly see opportunities . KOMODO is a great project . A bug for exploits is a part of growing pains for any crypto projects . Dont despair KMD will recover and be more secure than before.

I dont think so, check bittrex largest wallet balance, it was loaded every day with thousands of coins (loaded with 2,2 million if im not mistaken), bittrex should take a look on that user account.

[jl777]

When will the Komodo coins be tradable again on the exchanges?

it has been trading all along on bittrex.

I am recommending the other exchanges wait until at least after block 236200 before reenabling. A full resync is needed and that will also give us time to make sure we are indeed stable

Thanks. When I buy some on Bittrex now and you do a rollback, do I lost my coins?

And how long will it take to reach that block?

since bittrex promptly closed deposits when we requested, none of the illicit KMD entered their system. That means all the bittrex KMD is 100% backed by real KMD

which means there is no impact from any of this to bittrex and bittrex customers

[francisserik]

Why is the price at Bittrex so much higher than on Cryptox?

[tclo]

Why is the price at Bittrex so much higher than on Cryptox?

Crytox is probably where the hacker was dumping his millions of stolen/manufactured KMD.

[KomodoPlatform]

Komodo team need to be ashamed of themselves,with all the delay and hype they can only offer this shit. How are we even sure this is not an inside job by the team to crash the price. I will never touch any project you guys are involved in again, the team have been disappointment.

We are making progress all the time, our Iguana development has been in full speed the whole time. You can download the latest wallet here: https://github.com/SuperNETorg/iguana/releases</

It is a lot better then the current official release. We are still testing it, and will later provide installers and make it officially available on supernet.org. So we have delivered, and you can verify the progress, but the app is still in early development and we cannot market it to the end users. Please give us little more time and that phase can begin.

The reason why there is no installers is because the whole GUI team developing & fixing bugs, they won't spend time on this. We have hired another person just for the installers, and thus we will maximize the development speed. We are also streamlining our testing process to hunt down all the bugs, and anyone can help us with this in our Slack.

In general crypto is a high risk investment, but we are doing our best to minimize these kind of risks and that is what we have done today. Here's a good quote!

On the contrary, KMD notary nodes displayed why they are of existence.  To patrol any unscrupulous activities happening inside the blockchain. The past incident displayed how quick the response and the reaction of the team. For the record some had worse in the past but still recovered and made stronger stands. I don't see a disaster , I honestly see opportunities . KOMODO is a great project . A bug for exploits is a part of growing pains for any crypto projects . Dont despair KMD will recover and be more secure than before.

[francisserik]

Why is the price at Bittrex so much higher than on Cryptox?

Crytox is probably where the hacker was dumping his millions of stolen/manufactured KMD.

But why is the price on Bittrex almost equal to yesterday's price, despite of the bug?

[Drai]

Sorry francisserik, I wasn't able to wait longer, and bought some kmd at that price. Il you told me before I left them dump more for you