crimsongoth
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January 23, 2018, 12:04:14 PM |
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We have experienced similar events many times recently. I don't believe that these wallet applications are safe. Other than hardware wallets and paper wallets, there are a lot of problems.
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superresistant
Legendary
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Activity: 2156
Merit: 1131
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January 23, 2018, 04:28:29 PM |
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I hope people will learn from that. Password management and security is the real deal for everyone involved in crypto. No one can remain amateur and expect good results. We are responsible for our money, we have no banks or system to blame.
Well, in the case of IOTA, it should not be advised on a website to use an online seed generator.
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Faraha_JJJ
Member
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Activity: 392
Merit: 11
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January 23, 2018, 04:32:04 PM |
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That's nasty! All our good investment are being compromised by wallet makers or by exchanges. When will it stop?
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MadMac (OP)
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January 23, 2018, 04:48:34 PM |
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Baronggot
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January 23, 2018, 04:51:16 PM |
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I think, no system is ever created to be perfect as hackers always making a way to access your account without your permission and steal everything you have in your wallet. This has not been a new issue about cryptocurrency anyway.
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Crytptohack
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Activity: 126
Merit: 15
HodL!
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January 23, 2018, 05:32:29 PM |
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There are a lot of new people to the crypto sector and when they try things on their own, they sometimes go blindly without assistance. That is why people searched for and used an online number/letter generator for the seed. It's like 80 characters long...
People that at least some experience changed the seed once they got it just in case.
So people saying 'why would they even use an online seed generator' have experience in the crypto sector and know better. A lot of new people do not know the consequences, but they will learn quickly that this is the wild wild west of investing/speculation...
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MadMac (OP)
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January 23, 2018, 05:33:36 PM |
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Volkswagen should reevaluate and consider what risk they put themselves and customers potentially into. Still no acknowledgement of the hack by IOTA itself, they still believe if they do nothing the shitstorm may just blow over them and go away. No.
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DigitalXYZ
Newbie
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Activity: 20
Merit: 0
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January 23, 2018, 05:42:12 PM |
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IOTA seems to be one hot mess right now.
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runz
Member
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Activity: 103
Merit: 11
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January 23, 2018, 05:53:39 PM |
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It's sad to see that people who are new to crypto don't research how to securely operate their wallets and start to blackmail the devs if something goes wrong.
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MadMac (OP)
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January 23, 2018, 06:05:11 PM |
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It's sad to see that people who are new to crypto don't research how to securely operate their wallets and start to blackmail the devs if something goes wrong.
What rubbish is that now? Who is blackmailing the developers? Nobody. They made a mistake and did not think all through. They forgot to implement authorization, I wrote that already. The only mistake they make is not to acknowledge these gaps and problems with their software, thus putting users at high risk. Which is unchanged.
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Zeneize
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January 23, 2018, 06:05:37 PM |
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Over $1.5billion stolen. Really? How you know it was that much? This would be 20% of IOTA market cap. That would absolutely cripple IOTA, you say it would be 20% of market cap but if that's the case I can see price falling as much as 80% or so. Such breaches if true really strike fear in to investors. This fact, if confirmed, is totally astonishing. Are there any precise numbers already established? Bucause as soon as they are I guess the market wouldn't wait a second before reacting accordingly.
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MadMac (OP)
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January 23, 2018, 06:10:14 PM |
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This fact, if confirmed, is totally astonishing. Are there any precise numbers already established? Bucause as soon as they are I guess the market wouldn't wait a second before reacting accordingly.
The theft is still going on, most people do not even know their balance has been wiped out. Damage is at least in the 2 digits mUS$ numbers.
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runz
Member
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Activity: 103
Merit: 11
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January 23, 2018, 06:14:33 PM |
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It's sad to see that people who are new to crypto don't research how to securely operate their wallets and start to blackmail the devs if something goes wrong.
What rubbish is that now? Who is blackmailing the developers? Nobody. They made a mistake and did not think all through. They forgot to implement authorization, I wrote that already. The only mistake they make is not to acknowledge these gaps and problems with their software, thus putting users at high risk. Which is unchanged. Damn, now I'm discussing this with you again You're writing always the same shit that only a noob could write. That is exactly what i mean.. do your homework first and then invest in cryptos its not IOTAs problem, it's you carelessly give away your private key
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MadMac (OP)
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January 23, 2018, 06:32:49 PM |
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It's ok, you don't need to write any more, we know you don't get it . And I don't mean that negative. Just educate yourself. Information Security is a big topic, may look overwhelming, but there are some basic concepts like AAA, look that up for your own good.
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runz
Member
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Activity: 103
Merit: 11
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January 23, 2018, 06:41:29 PM |
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It's ok, you don't need to write any more, we know you don't get it . And I don't mean that negative. Just educate yourself. Information Security is a big topic, may look overwhelming, but there are some basic concepts like AAA, look that up for your own good. LOL i was not even talking to you but you always have something to say. Your just trying to spread FUD because you came to the insight that you screwed it up You are the guy who lost money so probably you should educate yourself about information security Like I said, my coins didn't get stolen
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MadMac (OP)
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January 23, 2018, 06:42:36 PM |
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It's ok, you don't need to write any more, we know you don't get it
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runz
Member
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Activity: 103
Merit: 11
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January 23, 2018, 06:48:44 PM |
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Really sad with all crypto newcomers who didn't get educated how to handle the coins This makes it to a paradise for scammers
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kaineh
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January 23, 2018, 06:53:22 PM |
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this is a serious blow to the world of crypto-currency. I'm just about to expand my coin portfolio. I think we should carefully consider the choice
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MadMac (OP)
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January 23, 2018, 07:08:50 PM |
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It has not been yet acknowledged by IOTA itself. They obviously still need to learn their lesson by being publicly beaten.
Do not invest any money in this coin. The problems persist, you risk all you put into it. Logging into the wallet by openly using your private key is simply dangerous and irresponsible from the devs.
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runz
Member
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Merit: 11
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January 23, 2018, 07:11:22 PM |
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It is not devs fault if you disclose your private key to third parties
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