BIPS Wallet security breach

[PenAndPaper]

from where i see, there is no better option than being patient wait and observe the progress they are doing
give them time to clean the mess on their own way and allow them to come with the best possible solution for both them and us.

or we can just continue vent our despair here purposeless...

The problem is that people's money dissapear more and more often as the price rises. Everyone is saspicious and usually things end with customers losing their money  Asking for patient is to much imo.

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[allincoin]

As promised I'd update when I heard back from BIPS,  I recieved an email today from Kris.  I added a bitcoin address to my account as requested.

.... text removed per request...

[cubicdissection]

Message (presumably from Kris) on my helpdesk ticket:

"I am on my fifth day without sleep doing data recovery as to find more server logs.

Please allow us patience."

 

Sorry, but when you put restoring the ability to process transactions above getting my thousands of dollars of BTC back, I can't find much patience to spare.

Reminder that there's still no evidence whatsoever that a hack occurred.  I'm amazed at the people here who are willing to walk away from their balances on the flimsy word of someone they have never met.

[Bit_Joe]

How does one add an external bitcoin address on bips?

[allincoin]

Look under the payouts section on the main login page.  There is a spot there to enter a address

[Creative83]

Well, this kind of shit could happen to any of the merchants out there.

I have always founds BIPS to be a good service but unfortunately bad things happens...hackers should be blamed and not them.

I agree with you, and it already happened more than once before with others, It's impossible to stop such things, hackers will always find a way to make our day harder, that's the risk we are taking and we have nothing to do but to accept the fact as it is.

[btcranger]

from where i see, there is no better option than being patient wait and observe the progress they are doing
give them time to clean the mess on their own way and allow them to come with the best possible solution for both them and us.

or we can just continue vent our despair here purposeless...

The problem is that people's money dissapear more and more often as the price rises. Everyone is saspicious and usually things end with customers losing their money  Asking for patient is to much imo.

so you saying by making assumption and suspecting everyone would help in recovering your BTC sooner?

one of my precious wallet with 2 figures of btc also victimize here, and i really want to see them back

[PenAndPaper]

from where i see, there is no better option than being patient wait and observe the progress they are doing
give them time to clean the mess on their own way and allow them to come with the best possible solution for both them and us.

or we can just continue vent our despair here purposeless...

The problem is that people's money dissapear more and more often as the price rises. Everyone is saspicious and usually things end with customers losing their money  Asking for patient is to much imo.

so you saying by making assumption and suspecting everyone would help in recovering your BTC sooner?

one of my precious wallet with 2 figures of btc also victimize here, and i really want to see them back

No i think people should stay calm and assess things clearly. However that's not easy to do when services fail you one after the other.

[cubicdissection]

No i think people should stay calm and assess things clearly. However that's not easy to do when services fail you one after the other.

I think staying calm is a relative thing given the history of these sites being hacked or turning out to be scams.  Certainly the management at BIPS has done little to help assuage the fears of those affected.  In fact I would argue that their lack of communication has exacerbated them.

I have been in touch with Kris and while I cannot share any details, he has convinced me that he is taking this very seriously.  I retract my earlier implications that he stole the coins himself.  I'm convinced now that they were hacked, and that he is working hard to fix things and make them right.

That's all I got, but I thought I would let you guys know.  This is a shit situation for everyone  

[solesituation]

Well, this market is still very new, so you must treat the investment you make in BTC as something very risky.
I also owned BTC in my webwallet in BIPS. Sure, I lost it all, but high risk does not come with guarantees and I get that and will continue using the processor services of BIPS, as I find their system easy and cost efficient.

[Roobotics]

Well, this market is still very new, so you must treat the investment you make in BTC as something very risky.
I also owned BTC in my webwallet in BIPS. Sure, I lost it all, but high risk does not come with guarantees and I get that and will continue using the processor services of BIPS, as I find their system easy and cost efficient.

As far as I'm aware coinbase can do many of these same things and has a full payment API built in, also a better track-record thus far as well.

[assortmentofsorts]

Well, this market is still very new, so you must treat the investment you make in BTC as something very risky.
I also owned BTC in my webwallet in BIPS. Sure, I lost it all, but high risk does not come with guarantees and I get that and will continue using the processor services of BIPS, as I find their system easy and cost efficient.

Why is it that i'm seeing too many newbie/junior accounts commenting similar stuff here?

[assortmentofsorts]

No i think people should stay calm and assess things clearly. However that's not easy to do when services fail you one after the other.

I think staying calm is a relative thing given the history of these sites being hacked or turning out to be scams.  Certainly the management at BIPS has done little to help assuage the fears of those affected.  In fact I would argue that their lack of communication has exacerbated them.

I have been in touch with Kris and while I cannot share any details, he has convinced me that he is taking this very seriously.  I retract my earlier implications that he stole the coins himself.  I'm convinced now that they were hacked, and that he is working hard to fix things and make them right.

That's all I got, but I thought I would let you guys know.  This is a shit situation for everyone  

I got the same info. Waiting for my coins

[PenAndPaper]

Well, this market is still very new, so you must treat the investment you make in BTC as something very risky.
I also owned BTC in my webwallet in BIPS. Sure, I lost it all, but high risk does not come with guarantees and I get that and will continue using the processor services of BIPS, as I find their system easy and cost efficient.

Why is it that i'm seeing too many newbie/junior accounts commenting similar stuff here?

Isnt' that obvious? And pathetic if i may add  
Also discouraging about how that problem is going to end 

[Missim]

Well, this market is still very new, so you must treat the investment you make in BTC as something very risky.
I also owned BTC in my webwallet in BIPS. Sure, I lost it all, but high risk does not come with guarantees and I get that and will continue using the processor services of BIPS, as I find their system easy and cost efficient.

Why is it that i'm seeing too many newbie/junior accounts commenting similar stuff here?

Isnt' that obvious? And pathetic if i may add  
Also discouraging about how that problem is going to end 

I was not aware that posting here was a prerequisite to having an opinion.  The BTC market is  wide - and does not revolve around posting in this forum. And - newbies are allowed to post only here.

As a user of Bips - and one who lost coins-  I am entitled to an opinion. And to be able to post it - regardless of the views of allegedly more distinguished members.

The thread is about the security breach. 

What happened to Bips was bad. This does not make Bips people bad. This is the opinion of  some (myself included).  Bips have no responsibility to return what was stolen. Perhaps many would prefer they did, but the fact is we are dealing with a commodity that- if stolen- there is no redress. We all knew that.

As evidenced above some have been in touch with Bips and have realised that the truth has been told, as much as it can be. 

Waiting for my coins to be returned is not something I will spend my time on.  There is work to be done - that is more productive.

[sjoland]

Looks like the coins are gone forever. Kris made a statemant in a local newspaper:
http://politiken.dk/oekonomi/virksomheder/ECE2143335/cyber-kriminelle-roever-dansk-firma/

He says the work now is primary to recover logs and data to hand over to the police... So its all gone. Why could they not just be open about it, so we're not keeping our hopes up.

I also got a message from Kris 3 days ago about adding an external bitcoin address for transfer of my lost 13 coins, but no coins has been transfered. But it kept my hopes up and made me shut up for a while... Good strategy! But not very honest...

[dark_kn1ght]

Looks like the coins are gone forever. Kris made a statemant in a local newspaper:
http://politiken.dk/oekonomi/virksomheder/ECE2143335/cyber-kriminelle-roever-dansk-firma/

He says the work now is primary to recover logs and data to hand over to the police... So its all gone. Why could they not just be open about it, so we're not keeping our hopes up.

doesn't it supposed to mean a good start?
cooperating with the authorities and start the investigation further
they can't trace the money without a lot of help from higher places

[dantes]

I agree - it seems like a good holding strategy to keep our hopes alive and forestall more aggressive action.  

In the circumstances I do not understand this forgiving attitude from other people posting on this forum.  
I do not see any future for BIPS / Kris in the bitcoin community unless our balances are restored or at a minimum he comes totally clean and offers some recovery or a way to recover.  

These are our bitcoins. We trusted BIPS/Kris when they provided a consumer wallet.  BIPS were listed on bitcoin.org.  I do expect redress or at the very least a frank and open statement of the full position, something that has been notably absent.  

Just tell us the full unvarnished truth and set out a roadmap for recovery or recourse. Spare us all this smoke and mirrors stuff.  If the bitcoin are all gone and there is no hope of recovery Kris can at least have the courtesy be totally honest about this, provide full disclosure on what happened (including logs so we can all check where the coins went) and if he wants any future in the BTC community he can offer us shares in BIPS as partial compensation, fiat or some of his own bitcoins.  

[assortmentofsorts]

Okay i'm convinced that it is Kris operating shill accounts to cool down the problem. I am also convinced that he stole our coins (and he is possibly even associated with another scam site - will disclose details soon). Now I think legal route is the only option. I waited enough and gave him a lot of time to refund my coins. Its despicable that he can't even reply to his customers publicly and resort to using shill accounts. Despite stealing his customers coins, he has the nerve to not even discuss the hack openly (absolutely zero information about the hack). He is just buying time and all this nonsense of spending 5 sleepless nights going through server logs is plain BS (its already 10 days now). And its BS that he isn't liable to the coins lost. Lets see what the courts have to say in this regard.

Kris: I have added the external address as you requested. I'm giving you 72 hours for you to return my 3.3BTC to that address. If you don't you'll need to face the consequences. I don't care if others are going to go the legal route... I'm determined to go at it alone and will take it to the logical end.

[assortmentofsorts]

Well, this market is still very new, so you must treat the investment you make in BTC as something very risky.
I also owned BTC in my webwallet in BIPS. Sure, I lost it all, but high risk does not come with guarantees and I get that and will continue using the processor services of BIPS, as I find their system easy and cost efficient.

Why is it that i'm seeing too many newbie/junior accounts commenting similar stuff here?

Isnt' that obvious? And pathetic if i may add  
Also discouraging about how that problem is going to end 

I was not aware that posting here was a prerequisite to having an opinion.

Kris at least try replying from the same shill account. Its laughable and at the same time insulting to your customers. Instead of doing this BS focus on refunding your users.