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Author Topic: Mt.Gox: No SQL injection happened, switch to SHA-512, offline until 8:00 am GMT  (Read 5023 times)
sang
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June 20, 2011, 03:24:48 AM
 #21

100-200 BTC + ~1000 USD stolen.  Doesn't seem too bad...

So.... could they, or someone, explain about the 200,000 -400,000 Bitcoins that was sold off, and drove the price down to 1 cent???

As far as I have gathered those transactions were internal to Mt. Gox and were never paid out. They weren't actual bitcoin transactions.

Not true. I had a buy order in around $12/btc that triggered on the way down and I was able to withdraw my BTC before the site shut down. I'd like to know how they plan to roll THAT back.
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Oldminer
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June 20, 2011, 03:32:37 AM
 #22

May not have been an SQL injection, but it was sure as hell a Hot Beef Injection!!!

Ewwwwww!  Grin

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bitcoinminer
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June 20, 2011, 03:34:02 AM
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Not true. I had a buy order in around $12/btc that triggered on the way down and I was able to withdraw my BTC before the site shut down. I'd like to know how they plan to roll THAT back.

Nice!  Stolen coin bonus!

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June 20, 2011, 03:41:29 AM
 #24

The excuse given was to blame the auditor.  And for privacy reasons, they won't name the auditor.

This doesn't make any sense at all.  What use is an audit performed by unnamed entities?  It's the credentials of the auditor which give credence to the audit they perform, is it not?

What use is it for an auditor to have password hashes?

No use whatsoever.

However, they are easy to overlook if someone asks you to make a quick dump of the database to give to the auditors.  Bet they'll have a formal policy and procedure in place before the next audit...

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dana.powers
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June 20, 2011, 03:42:07 AM
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Not true. I had a buy order in around $12/btc that triggered on the way down and I was able to withdraw my BTC before the site shut down. I'd like to know how they plan to roll THAT back.

The way they'll have to deal with this is not roll back the buy-side of a transaction if it was withdrawn.  Roll back the sell-side and cover the difference.  I.e., if market price is 17 and you bought at 12, MTGOX will have to refund the BTC to the rolled-back seller from the MtGox stash or, if stash is too small, add $5 per BTC to your $12 per and buy them back on the open market then refund to seller.

No doubt some buyers withdrew, but if it isn't a huge percentage then MtGox should be fine to cover the loss from the fees its collected so far.  But we'll see what actually happens...
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