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Author Topic: 650,000 Bitcoins got lost from Blockchain ?  (Read 282 times)
wxa7115
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February 03, 2018, 10:28:50 PM
 #21

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.

They did not call the POLICE   Huh
If it was in fact a hack then the police needs to get involved since it is one of the greatest thefts ever however they cannot get back those coins the same way they can do with money from banks accounts and it is not as easy to track the people that committed this crime, also this is not like jewelry that is marked and makes it more difficult to sell if it is stolen, so it is going to be very difficult to get that money back.

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February 03, 2018, 10:30:17 PM
 #22

Not to mention those who mined bitcoin at the very beginning and who lost everything!
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February 03, 2018, 10:33:20 PM
 #23

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.

100% agree if the blockchain lacks the require tight security all coins with the same algos should have been hacked long ago this kind of news only happens once in a blue moon or rare, so it is better for us to look for a better exchange that guarantees security to their network, even banks get robbed.
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February 03, 2018, 10:34:11 PM
 #24

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??
First of all why do you bring this old article we all know what happened on Mt. Gox exchange if you know what really happened i suggest read it on coindesk not on RT and also you are wrong that 650k bitcoins lost on the blockchain they are still on circulation although it is still on possession of the hacker but that is not lost. The lost coins happens when someone forgots the password of bitcoin wallet or wallet.dat which not recoverable by any means.

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February 03, 2018, 11:39:10 PM
 #25

There is a difference between lost and stolen (it may be the same for the one who lost his Bitcoins but the impacton the market is not the same).
Lost Bitcoins will make BTTC pice rise because the circulating volume will be reduced while stolen Bitcoins will not affect the market because it will be used and sold by someone else.

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February 13, 2018, 10:03:11 AM
 #26

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??
The bad news is for bitcoin and the crypto market. Again I advise you not to believe too much on these rumors. They will affect your mood in investing in the altcoins.
Although that fact is true, that error rarely happens. And another cause is theft. After the incident, I think the staff had to work hard to create a better protection system. Always think positive if you want to get rich.
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February 13, 2018, 10:06:54 AM
 #27

If your bank was hacked, would you suddenly lose faith in fiat currency? Would you suddenly convert all your fiat currency into bitcoin? No, I highly doubt it. People need to stop blaming bitcoin, it isn't bitcoin that is vulnerable to hacking, it is the exchanges that don't properly secure their assets. Similarly bank heists used to be much more common until precautionary measures were taken. A few events like this will make bitcoin stronger, as security protocols around its storage are bolstered.

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February 15, 2018, 10:58:14 AM
 #28

If those bitcoins would have been lost that would mean that we could find them somewhere. They were stolen. Smart guy who stole those bitcoins

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February 15, 2018, 11:05:27 AM
 #29

Who can really put their faith in the Bitcoins now this is happening.  And not a word said about it anywhere.  Things will have to change.  Unless this is fake information.  But no way of telling whether it is or it isn't/ 

Well you might be assuming it could be a fake story until you send some coin to unintended wallet. This is really why we should be careful with our dealings.

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June 15, 2018, 08:23:13 PM
 #30

If your bank was hacked, would you suddenly lose faith in fiat currency? Would you suddenly convert all your fiat currency into bitcoin? No, I highly doubt it. People need to stop blaming bitcoin, it isn't bitcoin that is vulnerable to hacking, it is the exchanges that don't properly secure their assets. Similarly bank heists used to be much more common until precautionary measures were taken. A few events like this will make bitcoin stronger, as security protocols around its storage are bolstered.

It is not easy to carry 10 kilos. How will thiefs/robbers carry and move with 1000 kilos of gold or cash ??
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June 16, 2018, 07:45:08 AM
 #31

Since Mt. Gox lost a lot of bitcoins in 2014, we have seen the frequent hacker theft of coins on these exchanges, so now I don't believe in the exchange, and all my coins are stored in my wallet.

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June 16, 2018, 08:25:07 AM
 #32

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.
You're right. NEM tokens are stolen on some exchanges because these exchanges are not secure and they have a lot of holes. Even Binance also has been stolen some tokens
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June 16, 2018, 08:28:28 AM
 #33

Is NEM open source?

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June 16, 2018, 08:32:26 AM
 #34

I dont know about NEM's case, but for Mt.Gox it was stolen not lost, someone still have that bitcoins. Always remember the safest place to keep cryptocurrency is personal wallet, not exchanger wallet, keep it safe, dont put it on exchanger for long time

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June 16, 2018, 08:39:09 AM
 #35

The coins are still stored in the Blockchain, they just shifted from their original address to another address not owned by the account holders on the MtGox exchange. You cannot remove any coins from the Blockchain, but you can mix the coins up a little that they cannot be traced back to the original owner.  Wink

As a matter of fact, you might be using some of the coins that was stolen in the MtGox hack.  Grin The exact same thing happens with cash, you will never know where that cash was, before it reached you.

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June 16, 2018, 08:22:23 PM
 #36

Since Mt. Gox lost a lot of bitcoins in 2014, we have seen the frequent hacker theft of coins on these exchanges, so now I don't believe in the exchange, and all my coins are stored in my wallet.

It is likely that those bitcoins were converted into something untraceable like monero. Once it has been laundered the trail goes cold and with all these new decentralised exchanges it makes it even more difficult to track

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June 18, 2018, 03:01:25 PM
 #37

It is just a known number from single source but the real number of lost Bitcoin is much more than this number. We don't have the mass awareness regarding the usage precautions while using cryptocurrencies and hence some people make mistakes resulting in a irrecoverable loss. Even there are theories claiming that Satoshi's Bitcoins are lost but that must be the different case.

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June 19, 2018, 06:25:28 PM
 #38

It is just a known number from single source but the real number of lost Bitcoin is much more than this number. We don't have the mass awareness regarding the usage precautions while using cryptocurrencies and hence some people make mistakes resulting in a irrecoverable loss. Even there are theories claiming that Satoshi's Bitcoins are lost but that must be the different case.

Blockchain technology can be trusted ?? Is it reliable and 100% secure/safe ??
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June 20, 2018, 01:49:33 AM
 #39

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??

Mt gox was stolen indeed, but they should able to track the hacker address right ?
such massive wallet hack should not let running free in cryptocurrency world. It will causing the price to drop if they dump it.

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June 20, 2018, 01:54:33 AM
 #40

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.
Thats right and must be known by many so they wont think about losing large volume of bitcoin in the air

This exchange until now has been issue because of their big amount of bitcoin on hand,i hope this must be resolved for the benefits of all since this thing was affecting the market price everytime they are moving the coins

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