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Author Topic: Is this the new Bitcoin phrase: "Sorry we got hacked, your money is gone"  (Read 2850 times)
fastandfurious
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August 05, 2011, 04:39:03 AM
 #1

This is getting were ridiculous. Every site is getting hacked and the owners don't understand how it could happen, they have nothing to do with it. Right, who believes that. Not me.
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tysat
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August 05, 2011, 04:44:33 AM
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Please define "every site".  It's only been a small number.
fastandfurious
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August 05, 2011, 04:47:00 AM
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Please define "every site".  It's only been a small number.

Important sites. True not all sites, and not all important sites. But in general, it seems to me that if you want to steal the funds, you just say that phrase and everyone accepts it, that's ridiculous.
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August 05, 2011, 04:51:00 AM
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Please define "every site".  It's only been a small number.

Important sites. True not all sites, and not all important sites. But in general, it seems to me that if you want to steal the funds, you just say that phrase and everyone accepts it, that's ridiculous.

Please definite "Important sites".  Besides Mt. Gox I don't know of any "hacking".
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August 05, 2011, 04:54:47 AM
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man, that is killer title for a web comic.
fastandfurious
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August 05, 2011, 05:01:50 AM
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Please define "every site".  It's only been a small number.

Important sites. True not all sites, and not all important sites. But in general, it seems to me that if you want to steal the funds, you just say that phrase and everyone accepts it, that's ridiculous.

Please definite "Important sites".  Besides Mt. Gox I don't know of any "hacking".

The polish exchange Bitomat and have a look at mybitcoin.com
repentance
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August 05, 2011, 05:05:31 AM
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The polish exchange Bitomat and have a look at mybitcoin.com

Bitomat didn't get hacked.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
Kermee
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August 05, 2011, 05:06:34 AM
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The polish exchange Bitomat and have a look at mybitcoin.com

Bitomat was due to pure, unadulterated incompetence, so they claim, and not hacking but there's no real proof.

MyBitcoin... I'm still out on the fence if it was truly hacked too.  It could be a cover story but who knows...

Cheers,
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August 05, 2011, 05:07:01 AM
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The polish exchange Bitomat and have a look at mybitcoin.com

Bitomat lost their wallet because of how the Amazon ECC works.

Mybitcoin probably wasn't hacked.  As it stands, I believe the current guess is that the service was a scam from the start with the owner selling off bitcoins as they came in.

Neither one was hacked, and two sites don't mean "every site" even if both had been hacked.
fastandfurious
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August 05, 2011, 05:11:47 AM
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The polish exchange Bitomat and have a look at mybitcoin.com

Bitomat lost their wallet because of how the Amazon ECC works.

Mybitcoin probably wasn't hacked.  As it stands, I believe the current guess is that the service was a scam from the start with the owner selling off bitcoins as they came in.

Neither one was hacked, and two sites don't mean "every site" even if both had been hacked.

Forget the word hack, that isn't the main point, the main point is that the owners try to steal the coins and funds and blame it on ridiculous things.
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August 05, 2011, 05:17:26 AM
 #11

The polish exchange Bitomat and have a look at mybitcoin.com

Bitomat lost their wallet because of how the Amazon ECC works.

Mybitcoin probably wasn't hacked.  As it stands, I believe the current guess is that the service was a scam from the start with the owner selling off bitcoins as they came in.

Neither one was hacked, and two sites don't mean "every site" even if both had been hacked.

+1

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August 05, 2011, 05:22:01 AM
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Ah, great, this looks like a nice thread to hijack instead of starting a whole thread just about the implementation of my own exchanges (which currently is by means of "eggdrop" IRC bots and a perl bot for the Crossfire RPG game).

Is there, in fact, any reasonable alternative to simply coming right out and telling you from the get-go that my exchanges are, of course, going to get hacked, and that that, in fact, is part of why I have implemented them in a do it oneself from home manner?

A kind of "standard open source response", as it were: "hey, if you think my {bots|exchanges} might get hacked, run your own fergoshsakes, heck, gimme the patches if you want even!"

Huh

-MarkM- (Operator of, for example, "NickelBot", which haunts various Freenode #bitcoin* IRC channels...)



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tysat
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August 05, 2011, 05:45:28 AM
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Ah, great, this looks like a nice thread to hijack instead of starting a whole thread just about the implementation of my own exchanges (which currently is by means of "eggdrop" IRC bots and a perl bot for the Crossfire RPG game).

Is there, in fact, any reasonable alternative to simply coming right out and telling you from the get-go that my exchanges are, of course, going to get hacked, and that that, in fact, is part of why I have implemented them in a do it oneself from home manner?

A kind of "standard open source response", as it were: "hey, if you think my {bots|exchanges} might get hacked, run your own fergoshsakes, heck, gimme the patches if you want even!"

Huh

-MarkM- (Operator of, for example, "NickelBot", which haunts various Freenode #bitcoin* IRC channels...)

What are you trying to do here?
geek-trader
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August 05, 2011, 05:51:00 AM
 #14

Ah, great, this looks like a nice thread to hijack instead of starting a whole thread just about the implementation of my own exchanges (which currently is by means of "eggdrop" IRC bots and a perl bot for the Crossfire RPG game).

Is there, in fact, any reasonable alternative to simply coming right out and telling you from the get-go that my exchanges are, of course, going to get hacked, and that that, in fact, is part of why I have implemented them in a do it oneself from home manner?

A kind of "standard open source response", as it were: "hey, if you think my {bots|exchanges} might get hacked, run your own fergoshsakes, heck, gimme the patches if you want even!"

Huh

-MarkM- (Operator of, for example, "NickelBot", which haunts various Freenode #bitcoin* IRC channels...)

What are you trying to do here?

Both these asshats are trolling to undermine bitcoin.

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markm
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August 05, 2011, 06:16:27 AM
 #15

Supposedly security was high in at least some cases of hacks.

How then can one prevent being hacked?

If even MyBitCoin, supoosedly having most of its coins completely off the net, lost so many they have to go into receivership how the heck can anyone manage to do business?

I am very cautious about any kind of scaling up because so many that have attempted it have supposedly found even their best efforts at security are not secure enough.

I would hate to lose a large amount of someone else's bitcoins. Is there a way other than only operating on trivial scales to avoid it though?

An adult site operator posted in the past about the need in their industry for expensive software in order to process payments in niches prone to attack by hackers. Maybe she had a point? Or if not then at least maybe it would be useful to find out what high value target websites that have never successfully been hacked actually do that might be instrumental in their not having gotten hacked yet?

How many of the supposed "security solutions" various sites' marketing mentions are actually effective or are most mostly more a marketing spiel than an really useful security?

It will help a lot hopefully to find out exactly what measures were actaully in place at MyBitcoin and how exactly they failed...

-MarkM-

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Nagle
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August 05, 2011, 06:22:03 AM
 #16

This is getting were ridiculous. Every site is getting hacked and the owners don't understand how it could happen, they have nothing to do with it. Right, who believes that. Not me.

The list:
  • Mt. Gox - claims to have been "hacked" and is still operating, but it's not clear if they actually have all the funds on deposit.
  • Bitomat - claims to have lost their data in Amazon's cloud, and went out of business without paying their debts.
  • Global Standard Bank - faked pictures of bank building, not registered with Canadian banking authorities. Site exchange rates no longer being updated.
  • Dwolla - began "reversing transactions" which were supposedly complete after some fraud against them.
  • MyBitcoin - claims to have been "hacked" and is going into "receivership", but isn't disclosing the name of the party going into receivership or in what jurisdiction.

The Bitcoin ecosystem is very, very flaky. And when these semi-anonymous outfits get in trouble, they disappear, rather than paying up.


Bitcoin Swami
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August 05, 2011, 06:24:41 AM
 #17

This is getting were ridiculous. Every site is getting hacked and the owners don't understand how it could happen, they have nothing to do with it. Right, who believes that. Not me.

The list:
  • Mt. Gox - claims to have been "hacked" and is still operating, but it's not clear if they actually have all the funds on deposit.
  • Bitomat - claims to have lost their data in Amazon's cloud, and went out of business without paying their debts.
  • Global Standard Bank - faked pictures of bank building, not registered with Canadian banking authorities. Site exchange rates no longer being updated.
  • Dwolla - began "reversing transactions" which were supposedly complete after some fraud against them.
  • MyBitcoin - claims to have been "hacked" and is going into "receivership", but isn't disclosing the name of the party going into receivership or in what jurisdiction.

The Bitcoin ecosystem is very, very flaky. And when these semi-anonymous outfits get in trouble, they disappear, rather than paying up.




According to bitcoin charts bitomat has been trading.
tysat
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August 05, 2011, 06:26:15 AM
 #18

The Bitcoin ecosystem is very, very flaky. And when these semi-anonymous outfits get in trouble, they disappear, rather than paying up.

The better way to put it would be that the bitcoin ecosystem is in it's infancy.  Everything is still very new, there are legitimate operations comes up though, checkout Ruxum.
geek-trader
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August 05, 2011, 06:31:34 AM
 #19

The list:
  • Mt. Gox - claims to have been "hacked" and is still operating, but it's not clear if they actually have all the funds on deposit.
  • Bitomat - claims to have lost their data in Amazon's cloud, and went out of business without paying their debts.
  • Global Standard Bank - faked pictures of bank building, not registered with Canadian banking authorities. Site exchange rates no longer being updated.
  • Dwolla - began "reversing transactions" which were supposedly complete after some fraud against them.
  • MyBitcoin - claims to have been "hacked" and is going into "receivership", but isn't disclosing the name of the party going into receivership or in what jurisdiction.

The Bitcoin ecosystem is very, very flaky. And when these semi-anonymous outfits get in trouble, they disappear, rather than paying up.

MtGox: No users lost any money, unless they claim their trades on fraudulent data were "theirs".  I disagree.  Besides the delays, MtGox handled that correctly.

Bitomat - total clusterfuck.  I agree.

Global Standard Bank - I have to pass, because I am not familiar with this one.  Did any users lose any money?

Dwolla:  No users lost any money.  Dispute between two businesses.  Happens all the time.

MyBitcoin: Total clusterfuck, and we'll see how much money gets lost.


Unless users lost money, I don't see how it applies.

Bitcoin is the Wild West, gold rush 1849.  The weak businesses are getting flushed out before our eyes.  What's left standing will be a stronger foundation to build on.

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repentance
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August 05, 2011, 06:38:42 AM
 #20

Supposedly security was high in at least some cases of hacks.

How then can one prevent being hacked?

If even MyBitCoin, supoosedly having most of its coins completely off the net, lost so many they have to go into receivership how the heck can anyone manage to do business?

I am very cautious about any kind of scaling up because so many that have attempted it have supposedly found even their best efforts at security are not secure enough.

I would hate to lose a large amount of someone else's bitcoins. Is there a way other than only operating on trivial scales to avoid it though?

An adult site operator posted in the past about the need in their industry for expensive software in order to process payments in niches prone to attack by hackers. Maybe she had a point? Or if not then at least maybe it would be useful to find out what high value target websites that have never successfully been hacked actually do that might be instrumental in their not having gotten hacked yet?

How many of the supposed "security solutions" various sites' marketing mentions are actually effective or are most mostly more a marketing spiel than an really useful security?

It will help a lot hopefully to find out exactly what measures were actaully in place at MyBitcoin and how exactly they failed...

-MarkM-


Conventional financial institutions spend literally tens of millions of dollars on securing their systems and they still get intrusions - they try to minimise their losses but they can never eliminate them entirely.  People need to accept that the services which have grown up around Bitcoin don't have that same level of sophisticated security and that as those services grow and process more and more transactions, preventing and detecting intrusions is going to become more complex and cost more.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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