Psychopath dumped 500k btc, at least 261k of it at $0.01 [screenshot]

[hazek]

I guess this is how mental illness looks like:

[1714776126]

1714776126

[1714776126]

1714776126

[hazek]

you can see the 500k volume at the top and the 261k order the at very right bottom.

[Bit_Happy]

Might have been a hacker, this could all be fake, maybe.

[Durr]

I think it's more in the trend of MtGox hacked, wallets of all customers emptied.

Or Satoshi knowing that the system is flawed and leaving.

Only Satoshi knows the algorithm.. no one else on this forum or from the developers know how it actually works since they can't break it (not even with the source).

[TraderTimm]

If you don't mind, I'm going to put up what I saw on bitcoinmonitor.com here, since it is a screen shot thread...

First Pic:



Second Pic:



Upon further reflection, seems an order this large could absorb all intervening bids/offers - but you should see those taken out in the trade history, not just crossing at 0.01. So, something is obviously messed up here. Waiting for an official comment from MagicalTux.

[AtlasONo]

The free market at work

[Durr]

What are you talking about TradeTimm?

The whole bid side of the Market Depth graph was emptied out.. Definitely all buy bids were completed.. With 260k left over at 0.01

[DamienBlack]

It did take out everything in between, I can confirm that.

[philipp]

I think it's more in the trend of MtGox hacked, wallets of all customers emptied.

Or Satoshi knowing that the system is flawed and leaving.

Only Satoshi knows the algorithm.. no one else on this forum or from the developers know how it actually works since they can't break it (not even with the source).

Or some early adopteri wanting to counter all the whining about early adopters getting rich once Bitcoin takes off.

[Isosceles]

Hazek, do you have a screenshot of the rest of the trades?

Putting the numbers from your screenshot in to Excel, there was only $5.3k traded, of which $2.7k was >$10, and the remaining was the stub order

[datafish]

Psychopath or government operative.  But I repeat myself.

[semarjt]

I think it's more in the trend of MtGox hacked, wallets of all customers emptied.

Or Satoshi knowing that the system is flawed and leaving.

Only Satoshi knows the algorithm.. no one else on this forum or from the developers know how it actually works since they can't break it (not even with the source).

what 'algorithm' are you refering to? sha256? http://en.wikipedia.org/wiki/SHA-2 ECDSA? http://en.wikipedia.org/wiki/Elliptic_Curve_DSA

All algorithms used in the bitcoin protocol are very well documented. thousands of people 'know the algorithm'

So, what exactly are you talking about. ....I suspect you do not know. And I have just wasted 7 minutes of my life.

[hazek]

Hazek, do you have a screenshot of the rest of the trades?

Putting the numbers from your screenshot in to Excel, there was only $5.3k traded, of which $2.7k was >$10, and the remaining was the stub order

Nope sorry, that's most of what I caught when I was refreshing..

Here's something missing from the screenshot:

Code:

Jun 19, 2011, 17:51:16	0.01000	261383.76	
Jun 19, 2011, 17:51:15	0.01000	1000.00	
Jun 19, 2011, 17:51:14	0.01000	50.00	
Jun 19, 2011, 17:51:13	0.01000	9.00	
Jun 19, 2011, 17:51:12	0.01000	0.07	
Jun 19, 2011, 17:51:11	0.01000	0.07	
Jun 19, 2011, 17:51:11	0.01000	100.00	
Jun 19, 2011, 17:49:33	1.02500	21.98	
Jun 19, 2011, 17:49:22	1.02500	4.49	
Jun 19, 2011, 17:49:22	1.02500	0.33	
Jun 19, 2011, 17:49:17	1.02500	12.50	
Jun 19, 2011, 17:49:17	7.40000	0.41	
Jun 19, 2011, 17:49:17	9.01000	27.63	
Jun 19, 2011, 17:49:17	10.60000	9.14	
Jun 19, 2011, 17:48:06	10.60000	3.00	
Jun 19, 2011, 17:47:50	10.60000	4.36	
Jun 19, 2011, 17:44:33	13.00000	1.00	
Jun 19, 2011, 17:43:06	13.00000	0.83	
Jun 19, 2011, 17:43:06	13.05000	0.42	
Jun 19, 2011, 17:16:21	17.02010	13.55	
Jun 19, 2011, 17:16:21	17.03000	1.00	
Jun 19, 2011, 17:16:21	17.05000	8.67	
Jun 19, 2011, 17:16:21	17.05000	6.82	
Jun 19, 2011, 17:16:21	17.05000	20.00	
Jun 19, 2011, 17:15:36	0.01000	10000.00	
Jun 19, 2011, 17:15:36	0.01000	1000.00	
Jun 19, 2011, 17:15:36	0.01000	895.00	
Jun 19, 2011, 17:15:36	0.01000	1000.00	
Jun 19, 2011, 17:15:36	0.01000	1.00	
Jun 19, 2011, 17:15:36	0.01000	10000.00	
Jun 19, 2011, 17:15:36	0.01000	30.00	
Jun 19, 2011, 17:15:36	0.01100	3000.00	
Jun 19, 2011, 17:15:36	0.01235	0.09	
Jun 19, 2011, 17:15:36	0.01235	0.32	
Jun 19, 2011, 17:15:36	0.01235	0.86

[Isosceles]

Someone uploaded it to pastebin. Answer here : http://forum.bitcoin.org/index.php?topic=19505.msg244493#msg244493

[bitbitcoincoin]

Huge Bitcoin sell off due to a compromised account - rollback

Mark Karpeles
posted this on Jun-20 04:07

The bitcoin will be back to around 17.5$/BTC after we rollback all trades that have happened after the huge Bitcoin sale that happened on June 20th near 3:00am (JST).

Service should be back by June 20th 10:00am (JST, 01:00am GMT) with all the trades reversed and accounts available.

One account with a lot of coins was compromised and whoever stole it (using a HK based IP to login) first sold all the coins in there, to buy those again just after, and then tried to withdraw the coins. The $1000/day withdraw limit was active for this account and the hacker could only get out with $1000 worth of coins.

Apart from this no account was compromised, and nothing was lost. Due to the large impact this had on the Bitcoin market, we will rollback every trade which happened since the big sale, and ensure this account is secure before opening access again.

mtgox.com

[lonestranger]

But still unexplained is why Mt Gox reported out that the btc price fell to $.01...

[Yeti]

Because they report the price of the last sale?! If that was the "last" sale for a couple of minutes then that was the price being reported, even if bid and ask might have been higher.

[lonestranger]

What kind of theif hacks an account and sells for $.01?

[Grant]

To all of you who wonder, don't panic!

<MagicalTux> we'll just rollback all affected trades

It appears that 500k BTC trade was illegitimate, trading will resume after a rollback to its previous state, last trade was ~17$

Btw. i just sold almost all my bitcoins last few days i was hoping for the opposite, but this seems most fair for all to reverse an illegitimate trade.

[lonestranger]

Uh, that's thief...I AM a true grammarian.