gizmoh
Legendary
 Offline
Activity: 1428
Merit: 1000
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February 06, 2014, 08:04:24 AM |
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Trading resumed.
Are balances back to normal?
cant second this, public trade history is null I just saw loans being taken and thought its been resumed. My mistake. |
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hyphymikey
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February 06, 2014, 08:08:49 AM |
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Its more of a matter of how much LTC is in their hot wallet. Minimal trading was done in BTC over the "buggy period"… 175,000 LTC was traded, which is more than the usual 10K daily volume
Which proves that someone was most likely using the BTC price to manipulate loan amounts and profit in LTC trading.
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F-bernanke
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February 06, 2014, 08:14:10 AM |
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Of course they don't store a huge sum in a hotwallet.
They can rollback LTC trading, hoping they can rollback BTC aswel (ofcourse stamp is a problem).
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hyphymikey
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February 06, 2014, 08:16:19 AM |
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Of course they don't store a huge sum in a hotwallet.
They can rollback LTC trading, hoping they can rollback BTC aswel (ofcourse stamp is a problem).
Well, consider whatever amount withdrawn lost. They cannot roll back the trades of LTC that have been withdrawn. |
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blueberry
Member
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Activity: 110
Merit: 10
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February 06, 2014, 08:19:31 AM |
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I had a great position after a standing order I had at $685 for weeks was just hit. They just deleted that position!
I guess rollback is a good idea but the problem is all the crosstrading with bitstamp. They are going to have a tough time sorting that out without having to eat some lossess themselves.
It didn't seem like many of the orders actually hit Bitstamp. I second this. I was watching Bitstamps trades on Bitcoinwisdom at the time and seemed unaffected by the Bitfinex trades. The huge difference in volumes at the time suggests almost all the trades were matched within Bitfinex's own internal orderbook. |
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blueberry
Member
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Activity: 110
Merit: 10
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February 06, 2014, 08:25:52 AM |
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Its more of a matter of how much LTC is in their hot wallet. Minimal trading was done in BTC over the "buggy period"… 175,000 LTC was traded, which is more than the usual 10K daily volume
Which proves that someone was most likely using the BTC price to manipulate loan amounts and profit in LTC trading.
It wouldn't matter if all trades and loans during the period get rolled back. |
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blueberry
Member
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Activity: 110
Merit: 10
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February 06, 2014, 08:29:58 AM |
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Of course they don't store a huge sum in a hotwallet.
They can rollback LTC trading, hoping they can rollback BTC aswel (ofcourse stamp is a problem).
Well, consider whatever amount withdrawn lost. They cannot roll back the trades of LTC that have been withdrawn. Bitfinex will most likely cover these losses so no need for us to worry. |
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hyphymikey
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February 06, 2014, 08:50:03 AM |
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 The fact that this is possible means….. |
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chezz
Newbie
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Activity: 6
Merit: 0
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February 06, 2014, 09:00:54 AM |
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blueberry
Member
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Activity: 110
Merit: 10
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February 06, 2014, 09:11:10 AM |
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Of course they don't store a huge sum in a hotwallet.
They can rollback LTC trading, hoping they can rollback BTC aswel (ofcourse stamp is a problem).
Well, consider whatever amount withdrawn lost. They cannot roll back the trades of LTC that have been withdrawn. Bitfinex will most likely cover these losses so no need for us to worry. My worry is what kind of time frame we may be looking at..... any guesses? Hopefully no more than a few days. When Gox had their problem, they intially said that trades would be rolled back and trading resumed the following day. However there was also a database leak of all customers usernames, email addresses and hashed passwords at the time, which meant that Gox had no choice but to take the site down and customers had to claim their accounts through a verification process and change their passwords to a secure one. The lengthy process in verifying thousands of accounts meant that trading didn't resume until one week later. In the case of Bitfinex, it seems there hasn't been any database leaks, so an accounts claims process is probably not needed. But some security issues or bugs within the site may have to be addressed first before normal trading can resume. I am guessing that the recent upgrades to the site in the last week had caused a bug/security vulnerability. Hopefully we will get a statement from Bitfinex soon. |
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fonzie
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February 06, 2014, 09:35:03 AM |
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Trading works again, for me at least. The strange 10k+ asks (LTC) have been removed.
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"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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fonzie
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February 06, 2014, 09:37:52 AM |
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Let´s hope for the best. At least someone is definitely working hard on it, removing the fake orders and so on.
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"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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blueberry
Member
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Activity: 110
Merit: 10
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February 06, 2014, 09:39:47 AM |
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I see trades being executed.
That's interesting. I see the fake bids of 829 and 10,000 is gone and the 500 fake offer too. Right now trading seems to have resumed and normalised. Maybe we don't need a rollback? My balance and position are still all fucked up. And I have a withdrawal in limbo.  Do you have a negative trade balance? Can you post a screenshot? |
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blueberry
Member
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Activity: 110
Merit: 10
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February 06, 2014, 09:41:12 AM |
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The fact that this is possible means….. Is your trading balance still negative? |
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TERA
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February 06, 2014, 09:55:22 AM |
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Maybe we don't need a rollback?
All my trades are rolled back... |
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MAbtc
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February 06, 2014, 10:02:28 AM
Last edit: February 06, 2014, 10:23:18 AM by MAbtc |
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I see trades being executed.
That's interesting. I see the fake bids of 829 and 10,000 is gone and the 500 fake offer too. Right now trading seems to have resumed and normalised. Maybe we don't need a rollback? My balance and position are still all fucked up. And I have a withdrawal in limbo. Do you have a negative trade balance? Can you post a screenshot? Hmm. It seems back to normal now. I think, eyeballing it anyway. Nothing rolled back. I'm not complaining -- I made a few thousand bucks in a few seconds there -- but an announcement from Bitfinex would be nice. And I'd be pretty pissed if I had stops that triggered because of this hack. Withdrawal in limbo -- but then again, their hot wallet would be empty, wouldn't it? Edit: Did trading freeze again? |
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urwhatuknow
Sr. Member
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Activity: 446
Merit: 250
CAT.EX Exchange
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February 06, 2014, 10:34:50 AM |
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Dear Customers
the situation is under control.
No money or coins are missing and the problem was due to some malicious trader trying to play with the LTC ticker price in order to take advantage on us.
We are now reversing all transactions that took place on our platform during the time when all got messy (approx 7 a.m. GMT).
Very few transactions (for a total of 2,000 btc) actually took place on Bitstamp, only limited to the BTC/USD pair (Bitstamp doesn't trade LTC) and they actually took place at a price that was around 750 usd, so no big deal.
We enabled the trading engine for a few minutes and then switched it off again to avoid those rats (sorry I cannot think of a better word in this moment) to shuffle things even more and to make our work more difficult.
We keep an eye on the price and we can always enable it in the next minutes whilst we reverse trades that took advantage of the abnormality should the price get volatile.
The whole operation will not take anyway more than one hour.
Thanks a lot for your understanding and we deeply apologize for the inconvenience
Giancarlo
Bitfinex Team
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F-bernanke
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February 06, 2014, 10:40:42 AM |
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That seems like the wise thing to do, thanks for informing us.
I have confidence in you and your team will solve this matter.
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obitoo
Newbie
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Activity: 28
Merit: 0
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February 06, 2014, 10:41:55 AM |
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I see trades being executed.
That's interesting. I see the fake bids of 829 and 10,000 is gone and the 500 fake offer too. Right now trading seems to have resumed and normalised. Maybe we don't need a rollback? My balance and position are still all fucked up. And I have a withdrawal in limbo. Do you have a negative trade balance? Can you post a screenshot? Hmm. It seems back to normal now. I think, eyeballing it anyway. Nothing rolled back. I'm not complaining -- I made a few thousand bucks in a few seconds there -- but an announcement from Bitfinex would be nice. And I'd be pretty pissed if I had stops that triggered because of this hack. Withdrawal in limbo -- but then again, their hot wallet would be empty, wouldn't it? Edit: Did trading freeze again? hmmm my usd balance was wrong a few hours ago - then briefly correct, now i'm into work and checking again and its wrong. Does anyone know if they're working on this - I can't see any announcements on the bf site. |
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blueberry
Member
Offline
Activity: 110
Merit: 10
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February 06, 2014, 10:46:48 AM |
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I see trades being executed.
That's interesting. I see the fake bids of 829 and 10,000 is gone and the 500 fake offer too. Right now trading seems to have resumed and normalised. Maybe we don't need a rollback? My balance and position are still all fucked up. And I have a withdrawal in limbo. Do you have a negative trade balance? Can you post a screenshot? Hmm. It seems back to normal now. I think, eyeballing it anyway. Nothing rolled back. I'm not complaining -- I made a few thousand bucks in a few seconds there -- but an announcement from Bitfinex would be nice. And I'd be pretty pissed if I had stops that triggered because of this hack. Withdrawal in limbo -- but then again, their hot wallet would be empty, wouldn't it? Edit: Did trading freeze again? hmmm my usd balance was wrong a few hours ago - then briefly correct, now i'm into work and checking again and its wrong. Does anyone know if they're working on this - I can't see any announcements on the bf site. Yes. An announcement has been made by Bitfinex. See a few posts above. |
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