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the founder (OP)
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April 03, 2013, 04:18:44 PM
Last edit: April 03, 2013, 04:33:10 PM by hazek |
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INSTAWALLET SERVICE NOTICE The Instawallet service is suspended indefinitely until we are able to develop an alternative architecture. Our database was fraudulently accessed, due to the very nature of Instawallet it is impossible to reopen the service as-is. In the next few days we are going to open the claim process for Instawallet balance holders to claim the funds they had stored before the service interruption. Important information on claims submission: For the first 90 days we will accept claims for individual Instawallets. Your wallet's URL and key will be used to pre-populate a form to file the claim. After 90 days, if no other claim has been received for the same url, your Instawallet balance under 50 BTC will be refunded. If several claims have been filed for the same url, we will process those claims on a case by case basis, under the presumption that the claim we received first belongs to the legitimate balance holder. Claims for wallets that hold a balance greater than 50 BTC will be processed on a case by case and best efforts basis. ---- It looks like my story was right: http://www.adaptiveglass.com/?p=700 (updated link) |
Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me Say thank you here: 1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f |
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btbrae
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April 03, 2013, 04:23:08 PM |
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Looks like Instawallet customers just got Cyprus'd.
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justusranvier
Legendary
 Offline
Activity: 1400
Merit: 1013
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April 03, 2013, 04:24:43 PM |
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On a long enough time scale, the success rate of all services which hold bitcoins on behalf of their users drops to zero.
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btbrae
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April 03, 2013, 04:31:54 PM |
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Are you so sure about that? "The address 1LrPYjto3hsLzWJNstghuwdrQXB96KbrCy is under our exclusive control." This seems to indicate that the blockchain info you linked to is not useful and drawing conclusions from that is pointless. Although, my conclusion from "best efforts" is that coins were stolen somewhere. |
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addi
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April 03, 2013, 04:32:34 PM |
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We all saw that coming didn't we, and it's pretty bad agreed, but lets not blow this up with stupid $ numbers tho
edit: and certainly not when they are not official
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the founder (OP)
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April 03, 2013, 04:33:02 PM |
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Are you so sure about that? "The address 1LrPYjto3hsLzWJNstghuwdrQXB96KbrCy is under our exclusive control." This seems to indicate that the blockchain info you linked to is not useful and drawing conclusions from that is pointless. 100% positive. They pulled the coins from cold storage to cover what was lost in the hot wallet. |
Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me Say thank you here: 1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f |
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hazek
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Activity: 1078
Merit: 1003
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April 03, 2013, 04:33:50 PM |
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No need for the speculative title unless you have some hard evidence that they lost anything.
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My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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btbrae
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April 03, 2013, 04:36:27 PM |
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100% positive. They pulled the coins from cold storage to cover what was lost in the hot wallet.
If that's true then I feel bad for those with more than 50 BTC in there. The notice seems to be papering over the severity of what just occurred. |
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Kotcha
Newbie
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Activity: 14
Merit: 0
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April 03, 2013, 04:38:59 PM |
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Personally I don't think any funds were stolen, it looks like they manage to freeze up and put the funds in cold storage before any damage was done. As the notice says, because of the nature of Instawallet (your URL being your private key), putting the service back online wasn't an option. Looks like good news to me
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nikkisnowe
Member
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Activity: 105
Merit: 10
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April 03, 2013, 04:40:52 PM |
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Hopefully somebody with instawallet funds will post their experience with the process to recover their btc.
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the founder (OP)
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April 03, 2013, 04:41:22 PM |
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No need for the speculative title unless you have some hard evidence that they lost anything.
You think people transfer stuff out of cold storage for fun? Look they were smart in that regards, they had a cold storage .. and most of their coins where there... but hot wallet funds were emptied or at least partially emptied. Those cold storage funds were there as an emergency backup , and they were forced to use them. It's not a total loss, but it appears to be roughly a 6.2 million dolllar one. |
Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me Say thank you here: 1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f |
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BTCisthefuture
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April 03, 2013, 04:43:41 PM |
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where do we file this claim if we had less than 50btc. i actually still had some free btc left over in there that i wouldnt mind getting back if i can.
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Raoul Duke
aka psy
Legendary
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Activity: 1358
Merit: 1002
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April 03, 2013, 04:48:07 PM |
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casascius
Mike Caldwell
VIP
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Activity: 1386
Merit: 1140
The Casascius 1oz 10BTC Silver Round (w/ Gold B)
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April 03, 2013, 04:52:22 PM |
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Paper Wallets
Paper Wallets
Paper Wallets
Paper Wallets
Paper Wallets
I have never heard of anyone losing a single bitcoin stored on a paper wallet.
On the interwebs is not where to keep your bitcoins. On paper is.
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Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable. I never believe them. If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins. I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion. Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice. Don't keep coins online. Use paper or hardware wallets instead.
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greyhawk
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April 03, 2013, 04:57:16 PM |
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I love how they're setting this thing up to be "hacked" yet again. IW: "Sorry, dudes, those 'hackers' had a list of URLs they cleaned out. But you'll totally get your money back, if you send us your ownership claim, which is..... your URL ." 'Hacker': "Mui excellente  " IW: "I know, right?   " |
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moni3z
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April 03, 2013, 05:00:35 PM |
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Yeah.. wait what: db was beached, submit URL for coin refund lol whoever did it gets paid twice
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fcmatt
Legendary
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Activity: 2072
Merit: 1001
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April 03, 2013, 05:09:15 PM |
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Paper Wallets
Paper Wallets
Paper Wallets
Paper Wallets
Paper Wallets
I have never heard of anyone losing a single bitcoin stored on a paper wallet.
On the interwebs is not where to keep your bitcoins. On paper is.
hilarious. this great new internet money.. and someone is preaching write it down with paper and pencil. one step forward, 50 steps back. just maybe.. there is a problem to be considered.. and saying paper wallets is ignoring that problem. sure it is a solution, but an ironic one in my mind. |
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casascius
Mike Caldwell
VIP
Legendary
Offline
Activity: 1386
Merit: 1140
The Casascius 1oz 10BTC Silver Round (w/ Gold B)
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April 03, 2013, 05:14:35 PM |
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Paper Wallets
Paper Wallets
Paper Wallets
Paper Wallets
Paper Wallets
I have never heard of anyone losing a single bitcoin stored on a paper wallet.
On the interwebs is not where to keep your bitcoins. On paper is.
hilarious. this great new internet money.. and someone is preaching write it down with paper and pencil. one step forward, 50 steps back. just maybe.. there is a problem to be considered.. and saying paper wallets is ignoring that problem. sure it is a solution, but an ironic one in my mind. I at least still have my bitcoins, and you are missing the big picture. Bitcoin isn't great because it's internet money, Bitcoin is great because it has all of the properties of desirable money plus freedom from inflation and governmental interference. If paper wallets are a step backward in your view, I invite you to find the futuristic money you're probably looking for at PayPal.com. |
Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable. I never believe them. If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins. I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion. Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice. Don't keep coins online. Use paper or hardware wallets instead.
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greyhawk
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April 03, 2013, 05:20:10 PM |
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the futuristic money
I wouldn't worry. I had my parents over on Easter and my dad saw one of your coins lying around and played with the hologram for about 30 minutes and was all "Is that future space money? It looks like future space money." Of course he also said "Is that for one of your video games?", so you might not want to read this sentence. |
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