Alitin Mint Adam Smith Coins compromised!

[zanzibar]

SilverWallets has the right idea. Sell the coin unfunded with hologram provided and let the buyer generate the key pair and assemble the coin themselves. Likewise Polymerbit.

I would have to disagree with you. The whole point of physical bitcoins is that they are easily exchanged from one person to another, knowing that if the hologram or whatever is intact, they contain the face value of Bitcoin. If you let the "buyer" generate the private key, then later sell the physical coin, you have to trust the initial buyer didn't copy the private key. If this was the model from the get go, I believe you would see widespread individual sweeping of coins. You have to put trust in one entity, like Casascius.

Edit; in my opinion, the only "truly" trusted physicals at this point is OpenDime. Where the person loading the BTC never sees the private key.

[BitcoinNewsMagazine]

SilverWallets has the right idea. Sell the coin unfunded with hologram provided and let the buyer generate the key pair and assemble the coin themselves. Likewise Polymerbit.

I would have to disagree with you. The whole point of physical bitcoins is that they are easily exchanged from one person to another, knowing that if the hologram or whatever is intact, they contain the face value of Bitcoin. If you let the "buyer" generate the private key, then later sell the physical coin, you have to trust the initial buyer didn't copy the private key. If this was the model from the get go, I believe you would see widespread individual sweeping of coins. You have to put trust in one entity, like Casascius.

Edit; in my opinion, the only "truly" trusted physicals at this point is OpenDime. Where the person loading the BTC never sees the private key.

Physical bitcoins in coin form are a novelty for bitcoin geeks (like me) and never had a chance of going mainstream. OpenDime has no collector appeal.

[BurtW]

SEE:

https://bitcointalk.org/index.php?topic=1815933.0

For a response from the manufacture.

[Blazed]

J.R. replied back to my email today saying they would repay the BTC value.   

If they follow through on that then color me impressed.

I am also interested in buying one of these unloaded coins if anyone is selling.

[eddie13]

As if the physical market isn't already bad enough..

It looks like the coins had the private key physically engraved on the side of them

I wonder if it is possible for the key to be read right through the packaging with heat imaging like a thermal camera or something similar..

[zanzibar]

Physical bitcoins in coin form are a novelty for bitcoin geeks (like me) and never had a chance of going mainstream. OpenDime has no collector appeal.

Yes of course, however if there was a way to incorporate the opendime security model with a collector coin, that would be trustless

[zanzibar]

I wonder if it is possible for the key to be read right through the packaging with heat imaging like a thermal camera or something similar..

Perhaps, but that's not why these were swept, most of the compromised coins were sent directly from Alitin.

[BurtW]

This is strange.  I bought two coins.  The first one is an Adam Smith number 60/600.

https://blockchain.info/address/1QLQDk2KotPqqBjQQK9atEqmmmjBZySPwc

It was swept 2017-02-26 02:31:26, so I lost 2 BTC on that deal.

My second coin is a Joan of Arc number 17/600.  But when I went to check on it I found that it had never been funded!  Were we supposed to fund these ourselves? Check it out:

https://blockchain.info/address/1KzvorTcd6W497eYdk7Jc9U1YLNTF1A6LK

When I bought it I assumed it was funded.  I am sure I paid more than 1 BTC for the thing.  What is the deal with that?

[buckrogers]

Honestly peel your coins, save your BTC if it is still there for god's sake.

Sell the redeemed or stolen coins to anyone who will buy them for the silver value alone.

This is not going to get better.

Refunds, maybe a long shot, but if your coin has BTC on it, are you really not going to peel it at this point?

thanks!

[Maicol792]

Honestly peel your coins, save your BTC if it is still there for god's sake.

Sell the redeemed or stolen coins to anyone who will buy them for the silver value alone.

This is not going to get better.

Refunds, maybe a long shot, but if your coin has BTC on it, are you really not going to peel it at this point?

thanks!

Yes, this is the best and logic solution at this point ... # PEEL YOUR COINS AND SAVE BTC #

[AT101ET]

If anyone wants to sell one of their peeled coins, send me a PM with an asking price. I may be interested in picking one up. Thanks

[TheAnalogKid]

Man, this just sucks for everyone involved - everyone has lost when something like this happens.  As an owner of several physicals every time I read something like this it sends a chill.

I hope the source is found, and that Alitin honors their pledge to offer refunds.  If you can find proof of when your coin was swept, and the value at that time, it is worth trying to go through something like renters or homeowners insurance and see what they say.  Sometimes you do need an extra rider on your policy to cover these things, sometimes not, depends but at least worth a try.

I know it won't really replace what was lost, but add me to the list of interested parties for any resale of these, peeled or still intact but de-funded.  PM me your asking price, for either series and/or multiple coins.

[wheelz1200]

This is strange.  I bought two coins.  The first one is an Adam Smith number 60/600.

https://blockchain.info/address/1QLQDk2KotPqqBjQQK9atEqmmmjBZySPwc

It was swept 2017-02-26 02:31:26, so I lost 2 BTC on that deal.

My second coin is a Joan of Arc number 17/600.  But when I went to check on it I found that it had never been funded!  Were we supposed to fund these ourselves? Check it out:

https://blockchain.info/address/1KzvorTcd6W497eYdk7Jc9U1YLNTF1A6LK

When I bought it I assumed it was funded.  I am sure I paid more than 1 BTC for the thing.  What is the deal with that?

Oh my.  So a second breach of trust now?  Im sorry for your loss really.  Is there anyone else who's 1btc coin was never funded?

[BurtW]

This is strange.  I bought two coins.  The first one is an Adam Smith number 60/600.

https://blockchain.info/address/1QLQDk2KotPqqBjQQK9atEqmmmjBZySPwc

It was swept 2017-02-26 02:31:26, so I lost 2 BTC on that deal.

My second coin is a Joan of Arc number 17/600.  But when I went to check on it I found that it had never been funded!  Were we supposed to fund these ourselves? Check it out:

https://blockchain.info/address/1KzvorTcd6W497eYdk7Jc9U1YLNTF1A6LK

When I bought it I assumed it was funded.  I am sure I paid more than 1 BTC for the thing.  What is the deal with that?

Oh my.  So a second breach of trust now?  Im sorry for your loss really.  Is there anyone else who's 1btc coin was never funded?

I am very interested in this also.  Does anyone else have an unfunded coin?

BTW:  I would keep your unfunded coin intact and not sell it!  You have no reason to peal it and an intact unfunded coin is a good thing to have for a proof of claim.

ALSO:  You should also keep your swept coins!!!  We do not know what their procedure will be for getting your BTC back once they either catch the thief or start paying everyone back.  You may need the swept coin as proof of claim.

[FFrankie]

This is strange.  I bought two coins.  The first one is an Adam Smith number 60/600.

https://blockchain.info/address/1QLQDk2KotPqqBjQQK9atEqmmmjBZySPwc

It was swept 2017-02-26 02:31:26, so I lost 2 BTC on that deal.

My second coin is a Joan of Arc number 17/600.  But when I went to check on it I found that it had never been funded!  Were we supposed to fund these ourselves? Check it out:

https://blockchain.info/address/1KzvorTcd6W497eYdk7Jc9U1YLNTF1A6LK

When I bought it I assumed it was funded.  I am sure I paid more than 1 BTC for the thing.  What is the deal with that?

Oh my.  So a second breach of trust now?  Im sorry for your loss really.  Is there anyone else who's 1btc coin was never funded?

I am very interested in this also.  Does anyone else have an unfunded coin?

BTW:  I would keep your unfunded coin intact and not sell it!  You have no reason to peal it and an intact unfunded coin is a good thing to have for a proof of claim.

ALSO:  You should also keep your swept coins!!!  We do not know what their procedure will be for getting your BTC back once they either catch the thief or start paying everyone back.  You may need the swept coin as proof of claim.

I think that is your own fault for not checking the balance of the coin. I also think it is impossible for alitin mint to refund all of its customers because these coins where sold what 3? years ago in 2014 and they are just saying they will to avoid more questions and so on

[wheelz1200]

This is strange.  I bought two coins.  The first one is an Adam Smith number 60/600.

https://blockchain.info/address/1QLQDk2KotPqqBjQQK9atEqmmmjBZySPwc

It was swept 2017-02-26 02:31:26, so I lost 2 BTC on that deal.

My second coin is a Joan of Arc number 17/600.  But when I went to check on it I found that it had never been funded!  Were we supposed to fund these ourselves? Check it out:

https://blockchain.info/address/1KzvorTcd6W497eYdk7Jc9U1YLNTF1A6LK

When I bought it I assumed it was funded.  I am sure I paid more than 1 BTC for the thing.  What is the deal with that?

Oh my.  So a second breach of trust now?  Im sorry for your loss really.  Is there anyone else who's 1btc coin was never funded?

I am very interested in this also.  Does anyone else have an unfunded coin?

BTW:  I would keep your unfunded coin intact and not sell it!  You have no reason to peal it and an intact unfunded coin is a good thing to have for a proof of claim.

ALSO:  You should also keep your swept coins!!!  We do not know what their procedure will be for getting your BTC back once they either catch the thief or start paying everyone back.  You may need the swept coin as proof of claim.

I think that is your own fault for not checking the balance of the coin. I also think it is impossible for alitin mint to refund all of its customers because these coins where sold what 3? years ago in 2014 and they are just saying they will to avoid more questions and so on

Salt in wounds right now isnt needed man.  Lose thousands of dollars and have someone kick you when your on the floor. 

[BurtW]

I am saying that there is a possibility they will catch the thief.  It is a very stupid crime.  There is a very small finite group of people that ever had access to the lists of private keys.  The thief is one of those people.  Since there is such a small group of possible suspects there is a chance the thief will be caught.

They will seize all of the thief's assets so even if he sold the BTC there is a chance we might get paid back.

Of course, I am not holding my breath waiting for this to happen.

But in the mean time I am suggesting that any claim on any of the recovered funds will probably involve proving you have the swept or accidentally unfunded coin.

So my suggestion is to keep your coins and do not sell them to all of these people saying they want to buy the silver unless you are aware that you may not be able to make a future claim - the buyer will get any future claim.  

Just a thought.

[msin]

So my suggestion is to keep your coins and do not sell them to all of these people saying they want to buy the silver unless you are aware that you may not be able to make a future claim - the buyer will get any future claim.  

Good advice.

[coin@coin]

This is very sad to hear. More so for the owners of raided coins.

If there was a leak of private keys somewhere in the production process the manufacturer should know the name of the people involved.
So if an investigation is ongoing no much info can be publicly released. Over time hope some names surface, we know who did it in Coinographic's case.

[zanzibar]

This is very sad to hear. More so for the owners of raided coins.

If there was a leak of private keys somewhere in the production process the manufacturer should know the name of the people involved.
So if an investigation is ongoing no much info can be publicly released. Over time hope some names surface, we know who did it in Coinographic's case.

Richard was apparently the only one with access to private keys, so he stole them himself, or he is flat out lying.