[ANN][ICO] SmartBillions World’s first multi-billion-dollar blockchain lottery.

[Isaaq.Almaguer]

is this hacked?? or internal transfer??

HACKED !!

https://www.reddit.com/r/ethereum/comments/74d3dc/smartbillions_lottery_contract_just_got_hacked/

hehehe! nice! congratulations to that hacker!! He saved a lot of people from being scammed by this team who insist on being anonymous for no reason.

[1714099867]

1714099867

[1714099867]

1714099867

[Aerys2]

Well...  I feel Bad for translating this now.

[Isaaq.Almaguer]

On top of that, the devs managed to pull some of the funds before it was all taken away, which means they have the ability to withdraw funds from the contract, so after the ICO they could just pull everything out and run away with the money, and since they decided to be anonymous, no one can track them down.

[Aerys2]

Yeah... I feel really Bad for supporting a scam... Next Time i'll know

[Opurum]

Scammers everywhere! I am almost certain my investment in Plexcoin is lost and gone. A huge price for inexperience on my part.

[onetoniro]

Devs, please explain to us about the continuation of this project... Thank's

[uelque]

is this hacked?? or internal transfer??

HACKED !!

https://www.reddit.com/r/ethereum/comments/74d3dc/smartbillions_lottery_contract_just_got_hacked/

Men.!! What will happened next? I also feel really bad about it..!!

[kingboonz]

Lmao... Got hacked. Get fucked.

[Rumipl]

SmartBillions Official HACKATHON Announcement

We would like to congratulate the first person to withdraw the funds during the  hackathon and emphasize our happiness with the outcome. This is a great possibility to implement any final smart contract security solutions to guarantee comprehensive Investor and lottery protection. Congratulations to https://etherscan.io/address/0x6245c1804f7fceb305a60bbb5cb6e18f939edb69.

The SmartBillions hackathon was held as a final validation of the smart contract security and to secure future ICO Investors funds. The most important goal of the hackathon has always been and will be Investor funds protection. We witnessed the best possible scenario as the leak was indicated during the hackathon process and not after the start of the ICO. We strongly believe in this community audit mechanism and therefore the next hackathon will begin today, based on the revised smart contract.

As we learned, the function “putHashes”  was not executed by the admin as required. The hackathon allowed the team to improve the smart contract in order to validate it finally. The administrative strategy has been changed now to protect the investors the security of the contract will not require a continuous acitivity of the Admin. The updated smart contract is now available online at https://github.com/SmartBillions/SmartBillions/blob/master/SmartBillions.sol. The new Hackathon will now commence with the same prize of 1500 ETH. Later today a detailed description of the improvement will be published together with the description of solutions and modifications made within the smart contract. SmartBillions Team will be happy to answer all possible questions concerning the course of the hackathon.

The execution of the hackathon allowed community members to find the leak in the smart contract and later implement further security solutions to conduct one more hackathon validation.
The funds were withdrawn by Admin, only because there was no smart contract commitments, such as wins payouts or Token redeeming. If interested, please see the SmartBillions smart contract to see limited funds withdrawal possibilities.

SmartBillions Team

[Rumipl]

Yeah... I feel really Bad for supporting a scam... Next Time i'll know

Aerys2 please find the official announcement. The SmartBillions contract is transparent and the hackathon main goal is to prove to contract security and guarantee investors protection.

[Aerys2]

But what's worrying is that you were able to withdraw the funds, it should not have been possible especially After talking so much about the independant contract no one can tamper... What proves now that you won't be able to withdraw funds once you'll have funds from the ICO?

[Rumipl]

But what's worrying is that you were able to withdraw the funds, it should not have been possible especially After talking so much about the independant contract no one can tamper... What proves now that you won't be able to withdraw funds once you'll have funds from the ICO?

It was stated very clear in the smart contract that admin will be able to withdraw the surplus of the funds over the contract liabilities such as Token redeem and wins payout.
There're not tokens to redeem and wins to payout. Admin cant withdraw the funds if they are protected and guaranteed for the winners and Token Holders.

[Aerys2]

But what's the guarantee you won't be able to withdraw funds from the real contract ?

[Rumipl]

But what's the guarantee you won't be able to withdraw funds from the real contract ?

The contact is public and the withdraw rules cannot be changed. Second hackathon will be announced today. The investors safety is the most important factor in this project and we are very serious about that, we want the community to validate the contract. We will start the ICO only if the Hackathon will prove contracts safety.

[Aerys2]

I will wait to see if someone can analyse the code to see if there is no backdoor

[Opurum]

Accepted, it was stated in the contract that admin will be able to make fund withdrawals for redemptions and payouts. But does that give any form of legitimacy to the withrawals by admin at the hack of the hackathon?

[onetoniro]

SmartBillions Official HACKATHON Announcement

We would like to congratulate the first person to withdraw the funds during the  hackathon and emphasize our happiness with the outcome. This is a great possibility to implement any final smart contract security solutions to guarantee comprehensive Investor and lottery protection. Congratulations to https://etherscan.io/address/0x6245c1804f7fceb305a60bbb5cb6e18f939edb69.

The SmartBillions hackathon was held as a final validation of the smart contract security and to secure future ICO Investors funds. The most important goal of the hackathon has always been and will be Investor funds protection. We witnessed the best possible scenario as the leak was indicated during the hackathon process and not after the start of the ICO. We strongly believe in this community audit mechanism and therefore the next hackathon will begin today, based on the revised smart contract.

As we learned, the function “putHashes”  was not executed by the admin as required. The hackathon allowed the team to improve the smart contract in order to validate it finally. The administrative strategy has been changed now to protect the investors the security of the contract will not require a continuous acitivity of the Admin. The updated smart contract is now available online at https://github.com/SmartBillions/SmartBillions/blob/master/SmartBillions.sol. The new Hackathon will now commence with the same prize of 1500 ETH. Later today a detailed description of the improvement will be published together with the description of solutions and modifications made within the smart contract. SmartBillions Team will be happy to answer all possible questions concerning the course of the hackathon.

The execution of the hackathon allowed community members to find the leak in the smart contract and later implement further security solutions to conduct one more hackathon validation.
The funds were withdrawn by Admin, only because there was no smart contract commitments, such as wins payouts or Token redeeming. If interested, please see the SmartBillions smart contract to see limited funds withdrawal possibilities.

SmartBillions Team

very interesting to look forward and continuation of this project. one question, is ICO will delay? or on schedule? 

[Aerys2]

There is something wrong, no need for an admin to redeem funds if the smart contract is well done, it Can do it by itself by sending back 80% of the funds an adress invested.

The fact an admin Can withdraw funds from the smart contract ruins the whole purpose of the project

[uelque]

SmartBillions Official HACKATHON Announcement

We would like to congratulate the first person to withdraw the funds during the  hackathon and emphasize our happiness with the outcome. This is a great possibility to implement any final smart contract security solutions to guarantee comprehensive Investor and lottery protection. Congratulations to https://etherscan.io/address/0x6245c1804f7fceb305a60bbb5cb6e18f939edb69.

The SmartBillions hackathon was held as a final validation of the smart contract security and to secure future ICO Investors funds. The most important goal of the hackathon has always been and will be Investor funds protection. We witnessed the best possible scenario as the leak was indicated during the hackathon process and not after the start of the ICO. We strongly believe in this community audit mechanism and therefore the next hackathon will begin today, based on the revised smart contract.

As we learned, the function “putHashes”  was not executed by the admin as required. The hackathon allowed the team to improve the smart contract in order to validate it finally. The administrative strategy has been changed now to protect the investors the security of the contract will not require a continuous acitivity of the Admin. The updated smart contract is now available online at https://github.com/SmartBillions/SmartBillions/blob/master/SmartBillions.sol. The new Hackathon will now commence with the same prize of 1500 ETH. Later today a detailed description of the improvement will be published together with the description of solutions and modifications made within the smart contract. SmartBillions Team will be happy to answer all possible questions concerning the course of the hackathon.

The execution of the hackathon allowed community members to find the leak in the smart contract and later implement further security solutions to conduct one more hackathon validation.
The funds were withdrawn by Admin, only because there was no smart contract commitments, such as wins payouts or Token redeeming. If interested, please see the SmartBillions smart contract to see limited funds withdrawal possibilities.

SmartBillions Team

very interesting to look forward and continuation of this project. one question, is ICO will delay? or on schedule? 

I think it will still be on schedule. And I still believe this project will goes on, another improvement will come then no one can break again into it. Everyone learns from mistakes, security will goes wilder than before, so better to watch this project because this is were things goes interesting.

[Isaaq.Almaguer]

I will wait to see if someone can analyse the code to see if there is no backdoor

Backdoor or not, there's a front door!! the devs can pull money out of the contract anytime they want! And they are anonymous people! nothing is stopping them!