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Author Topic: Stolen Bitfinex Coins on the Move  (Read 5768 times)
richardsNY
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January 29, 2017, 06:38:53 PM
 #81

as this much humans keeping eyes on those transactions even after so long time seems like thieves are relly getting fucked up this time, they can not even touch those coins becuase that will panic everyone that someone is playing wih those stolen coins. why did someone even steel any thing which he can not even spend

That's the transparency of the blockchain. Nothing can be moved without people not being able to see when and where these coins are moved to. In that matter, it will be a tough job to ever spend or sell these coins. If you look at it from that point, they have gained (stolen) a huge load of wealth, but it's pretty much worthless at the same time. It's easy to say that these coins will get mixed, but they will risk having their coins seized once sending coins to whatever mixer as I am quite sure any service is keeping an eye on the stolen coins.

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January 29, 2017, 07:05:22 PM
 #82

I still fully think that Bitfinex are the ones that stole those coins, I really HOPE they aren't but my gut says that this is all them.

I guess they're trying to get their name out a bit right now.

Yep, this has to be the most obvious inside job in Bitcoin history.
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January 29, 2017, 07:06:32 PM
 #83

Also if they really did want to move the coins the method is relatively easy [and I won't mention here].

It seems they are testing levels of interest for now. Which are relatively low.
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what is this "brake pedal" you speak of?


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January 29, 2017, 07:29:43 PM
 #84

why did someone even steel any thing which he can not even spend

steal it 1st. figure everything else out later.

for that amount of coin, even if they figure they can sell only one percent (and theres only a chance even at that) some people would go for it.
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what is this "brake pedal" you speak of?


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January 29, 2017, 07:34:13 PM
 #85

It seems they are testing levels of interest for now. Which are relatively low.

interest here does seem low at that.

i would of figured this would be bigger news. as it stands this thread just kind of dribbles along.
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January 29, 2017, 07:46:25 PM
 #86

It seems they are testing levels of interest for now. Which are relatively low.

interest here does seem low at that.

i would of figured this would be bigger news. as it stands this thread just kind of dribbles along.

It blows my mind we can have a hack this big and nobody really cares.
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January 29, 2017, 07:58:58 PM
 #87

It seems they are testing levels of interest for now. Which are relatively low.

interest here does seem low at that.

i would of figured this would be bigger news. as it stands this thread just kind of dribbles along.

It blows my mind we can have a hack this big and nobody really cares.
It's not that people don't care about what has happened, but it's around 6 months ago that the news about the hack became public.

Another thing is that quite a large group of people simply don't believe that Bitfinex was hacked. They believe it was a well set up insider job where Bitfinex just blames hackers for what they actually did themselves.

I'm also inclined to think that it was an insider job. It's utterly amateurish that hackers or whatever else you want to name them can exploit a vulnerable spot in their exchange and walk out with well over 100K BTC.

That's why I don't believe anything from what Bitfinex is saying. It smells so bad, that I find it very worrying and dangerous that this exchange still seem to enjoy whatever form of popularity. Doesn't make any sense.

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January 29, 2017, 08:00:28 PM
 #88

It seems they are testing levels of interest for now. Which are relatively low.

interest here does seem low at that.

i would of figured this would be bigger news. as it stands this thread just kind of dribbles along.

It blows my mind we can have a hack this big and nobody really cares.
It it is that easy to catch the culprit they would have done that already.These hacks cannot be traced that easily and none of the funds that were hacked are not traced till now and so this will be the case in Bitfinex too ,the FBI is investigating the case and i hope they could break open the case ,it all depends upon the hackers skills .
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January 29, 2017, 08:03:42 PM
 #89

It seems they are testing levels of interest for now. Which are relatively low.

interest here does seem low at that.

i would of figured this would be bigger news. as it stands this thread just kind of dribbles along.

It blows my mind we can have a hack this big and nobody really cares.
It's not that people don't care about what has happened, but it's around 6 months ago that the news about the hack became public.

Another thing is that quite a large group of people simply don't believe that Bitfinex was hacked. They believe it was a well set up insider job where Bitfinex just blames hackers for what they actually did themselves.

I'm also inclined to think that it was an insider job. It's utterly amateurish that hackers or whatever else you want to name them can exploit a vulnerable spot in their exchange and walk out with well over 100K BTC.

That's why I don't believe anything from what Bitfinex is saying. It smells so bad, that I find it very worrying and dangerous that this exchange still seem to enjoy whatever form of popularity. Doesn't make any sense.

Oh I mean in the sense of nobody getting wildly upset about what seems an obvious inside job. I don't trust a word from Bitfinex either (whomever they really are!).
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what is this "brake pedal" you speak of?


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January 29, 2017, 09:31:42 PM
 #90

It seems they are testing levels of interest for now. Which are relatively low.

interest here does seem low at that.

i would of figured this would be bigger news. as it stands this thread just kind of dribbles along.

It blows my mind we can have a hack this big and nobody really cares.
It it is that easy to catch the culprit they would have done that already.These hacks cannot be traced that easily and none of the funds that were hacked are not traced till now and so this will be the case in Bitfinex too ,the FBI is investigating the case and i hope they could break open the case ,it all depends upon the hackers skills .

im just curious as to what exchanges froze the coins, what ones exchanged them and if so can anyone tell to what, etc.

i mean are all the moved coins still just sitting at the various exchanges with no attempt to move or sell them?


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January 30, 2017, 03:07:20 AM
 #91

There's no way to recover the stolen bitcoins, unless bitcoin do like ethereum, fork from a block before the steal. But doing forks like this is very stupid, that hurts a lot of ETH (and is one of the reason I don't play ETH). Autonomy and decentralize is the basics for bitcoin.
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January 30, 2017, 04:20:01 AM
 #92

as this much humans keeping eyes on those transactions even after so long time seems like thieves are relly getting fucked up this time, they can not even touch those coins becuase that will panic everyone that someone is playing wih those stolen coins. why did someone even steel any thing which he can not even spend

That's the transparency of the blockchain. Nothing can be moved without people not being able to see when and where these coins are moved to. In that matter, it will be a tough job to ever spend or sell these coins. If you look at it from that point, they have gained (stolen) a huge load of wealth, but it's pretty much worthless at the same time. It's easy to say that these coins will get mixed, but they will risk having their coins seized once sending coins to whatever mixer as I am quite sure any service is keeping an eye on the stolen coins.

I dont think so they will ever be caught. They can make 1000 different wallets and  divide the coins amount those wallets and spend everywhere online and offline. Its almost impossible to track. Using Bitcoin Mixer services can make even more difficult. Transfer to the exchange and convert them to Altcoins. Move altcoin between exchanges and convert to bitcoin again. So many options are avaible to utilize the theft coins without being caught.

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January 30, 2017, 08:39:14 AM
 #93

as this much humans keeping eyes on those transactions even after so long time seems like thieves are relly getting fucked up this time, they can not even touch those coins becuase that will panic everyone that someone is playing wih those stolen coins. why did someone even steel any thing which he can not even spend

That's the transparency of the blockchain. Nothing can be moved without people not being able to see when and where these coins are moved to. In that matter, it will be a tough job to ever spend or sell these coins. If you look at it from that point, they have gained (stolen) a huge load of wealth, but it's pretty much worthless at the same time. It's easy to say that these coins will get mixed, but they will risk having their coins seized once sending coins to whatever mixer as I am quite sure any service is keeping an eye on the stolen coins.

I dont think so they will ever be caught. They can make 1000 different wallets and  divide the coins amount those wallets and spend everywhere online and offline. Its almost impossible to track. Using Bitcoin Mixer services can make even more difficult. Transfer to the exchange and convert them to Altcoins. Move altcoin between exchanges and convert to bitcoin again. So many options are avaible to utilize the theft coins without being caught

The question is not about being caught (or avoid being caught)

It is more about losing the traceability of the stolen coins (if we assume that they were really stolen). It doesn't matter into how many wallets you divide the coins, they can still be traced back to a wallet which the coins had allegedly been moved to by the hackers right after the hack. A simple program can easily do that, thus these coins will always remain tainted and can be frozen by any exchange or mixer that listens to or believes what Bitfinex is saying, i.e. that the coins from a certain wallet are theirs

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January 30, 2017, 10:26:40 AM
 #94

If those bitcoin could be recovered, it will lead to more attraction about bitcoin. People will say: oh finally no so bad lol

No way, there is no way to recover those bitcoin. Think about if those people who did stole those bitcoins will have a good samaritan feeling and just voluntarily return it to them. They will be forever lost and it seems those people are doing a sneaky move for their coins now, probably they need to use it for building another exchange and reasons out the same way to hide their crime.

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January 30, 2017, 10:31:14 AM
 #95

If those bitcoin could be recovered, it will lead to more attraction about bitcoin. People will say: oh finally no so bad lol

No way, there is no way to recover those bitcoin. Think about if those people who did stole those bitcoins will have a good samaritan feeling and just voluntarily return it to them. They will be forever lost and it seems those people are doing a sneaky move for their coins now, probably they need to use it for building another exchange and reasons out the same way to hide their crime.
They hack those coins because they want money and they would never tend to give it back to bitfinex.They exert efforts on getting those funds thats why they are making a move now and for sure it would be really be planned in able for them not to be traced.

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January 30, 2017, 10:34:41 AM
 #96

If those bitcoin could be recovered, it will lead to more attraction about bitcoin. People will say: oh finally no so bad lol

No way, there is no way to recover those bitcoin. Think about if those people who did stole those bitcoins will have a good samaritan feeling and just voluntarily return it to them. They will be forever lost and it seems those people are doing a sneaky move for their coins now, probably they need to use it for building another exchange and reasons out the same way to hide their crime.
They hack those coins because they want money and they would never tend to give it back to bitfinex.They exert efforts on getting those funds thats why they are making a move now and for sure it would be really be planned in able for them not to be traced.
There are chances that the coins be traced but its close to impossible to do so. If you have a few suspects any you know their walled addresses then the job could be a little simpler if the hackers fucks up and somehow links the accounts with one another but other than that, It is close to impossible.
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January 30, 2017, 10:37:36 AM
 #97

If those bitcoin could be recovered, it will lead to more attraction about bitcoin. People will say: oh finally no so bad lol

No way, there is no way to recover those bitcoin. Think about if those people who did stole those bitcoins will have a good samaritan feeling and just voluntarily return it to them. They will be forever lost and it seems those people are doing a sneaky move for their coins now, probably they need to use it for building another exchange and reasons out the same way to hide their crime.

Building a genuine exchange (or even a fake one) is too much hassle. I think a better idea would be to create another Bitcoin mixer. They have primitive interface by definition and are secretive by design, and it wouldn't cost the hackers as much. They could even run a lavish and generous signature campaign here, at Bitcointalk (closely watch the Service section announcements). Provided there are any Bitfinex hackers at all, of course. It is rumored that scammy Cointellect had been doing essentially the same...

That is, laundering stolen dogecoins

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January 30, 2017, 10:42:14 AM
 #98

I still fully think that Bitfinex are the ones that stole those coins, I really HOPE they aren't but my gut says that this is all them.

I guess they're trying to get their name out a bit right now.

Yep, this has to be the most obvious inside job in Bitcoin history.


I'd like to know If Bitfinex user accounts have 2 Factor Auth. Because If That's the case, It'll be an inside man kinda hack. as Far as I know 2 Fact Authentication can't be breached except there's an inside man who acts as an accomplice. Either Bitfinex I believe some day, The truth will soon be out.

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January 30, 2017, 10:45:10 AM
 #99

It is more about losing the traceability of the stolen coins (if we assume that they were really stolen). It doesn't matter into how many wallets you divide the coins, they can still be traced back to a wallet to which the coins allegedly had been moved by the hackers right after the hack. A simple program can easily do that, thus these coins will still remain tainted and can be frozen by any exchange or mixer that listens to or believes what Bitfinex is saying, i.e. that the coins from a certain wallet are theirs

Basically that. It really surprises me that there are still people not being able to understand that whatever you do with your coins, that everything can be traced quite easily. Another point of simple ignorace is the fact that they think these coins can be mixed, or be sent to an exchange where after that you convert these stolen coins into whatever altcoins. I can't think of any serious service or exchange that hasn't been notified about the addresses the stolen coins have been sitting in. It doesn't cost services and exchanges any effort to have a small bit of software constantly keeping an eye on these addresses, and pull the trigger as soon as they get a deposit from coins sitting in these wallets, or at some point have been sitting there.

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January 30, 2017, 10:46:40 AM
 #100

If those bitcoin could be recovered, it will lead to more attraction about bitcoin. People will say: oh finally no so bad lol

No way, there is no way to recover those bitcoin. Think about if those people who did stole those bitcoins will have a good samaritan feeling and just voluntarily return it to them. They will be forever lost and it seems those people are doing a sneaky move for their coins now, probably they need to use it for building another exchange and reasons out the same way to hide their crime.
They hack those coins because they want money and they would never tend to give it back to bitfinex.They exert efforts on getting those funds thats why they are making a move now and for sure it would be really be planned in able for them not to be traced.

I'm also thinking if that is just a back job made by bitfinex. For sure they planned it for a long time on how they are going to use and move that bitcoins that was stolen. Maybe they thought that the time is over and no one will remember those coins that was acquired and compromised by them through that hacking incident but they are wrong.

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