MyBitCoin is back!!??!!??

[Einewton]

CLICK HERE FOR A PGP-SIGNED COPY OF THIS REPORT

Thursday, August 4th, 2011

From the desk of Tom Williams, operator of MyBitcoin.com

For immediate release.

As you have probably noticed, MyBitcoin.com had been down for almost a week due to an unfortunate event.

On Friday of last week we noticed that one of our pooled holding servers was missing a large amount of Bitcoins. After a prompt investigation we realized that the security of our SCI (Shopping Cart Interface) system had been breached by an unknown attacker.

Our response was rash, but necessary. We simply switched the system off until we could have system-wide forensics performed. The forensics took some time, as the system is quite complex by nature.

After weighing all of our options, we have realized that we have no option but to go into receivership. We will settle all accounts with a online claim process that we are currently in the process of working out.

We will release more detailed information about the security breach, the claim process, and our balance sheet in the next few days.


Tom Williams

[1714038305]

1714038305

[1714038305]

1714038305

[GeniuSxBoY]

He should just use the fund to buy up a lot of bitcoins, and distribute the bitcoins.

[MaGNeT]

Just stalling...

[Crazy]

Stalling for what?

[MaGNeT]

Stalling for what?

They put this on their site to let us wait so they get more time to run away with the BTC...

[Crazy]

I don't follow. If they were gunna run away w/ the BTC why would they waste their time posting silly reports? They already have the money, they gain nothing by posting notices.

[memvola]

I don't follow. If they were gunna run away w/ the BTC why would they waste their time posting silly reports? They already have the money, they gain nothing by posting notices.

Erm... Plus, they already had the money before the site went offline, didn't they? Plenty of time to run away... Then again, they can already be anywhere they like, it's not like they operate an exchange, why run away in the first place? Why are we feeding the trolls anyway?

[deuxmill]

Maybe they sold some when the rate was 13 14 and then when they saw the rate fell they bought back , and recouped. and made some nice profit

[GeniuSxBoY]

I see all the coins right now 

[piramida]

it takes a lot of time to run away, you have to run across the border carrying all the money in gold bars with you, you didn't think humans are able to fly or get their money out of some iron box, didn't you.

[Houdini]

So they aren't crooks, instead they got hacked. This is not really great news.
How many major robberies have there been in the bitcoin world in the last two months, I've lost count ?

[muyoso]

So they aren't crooks, instead they got hacked. This is not really great news.
How many major robberies have there been in the bitcoin world in the last two months, I've lost count ?

No kidding.  If anyone really things that any business is ever going to adopt bitcoins as a payment method or that regular people will start using it, they are delusional.  Every couple of weeks you hear about hundreds of thousands of dollars worth of bitcoins being stolen with absolutely no recourse for the victims.  Yep, that sounds like something that businesses and regular people want to get involved with.

[Houdini]

No kidding.  If anyone really things that any business is ever going to adopt bitcoins as a payment method or that regular people will start using it, they are delusional.  Every couple of weeks you hear about hundreds of thousands of dollars worth of bitcoins being stolen with absolutely no recourse for the victims.  Yep, that sounds like something that businesses and regular people want to get involved with.

+1 on everything, just change weeks to days. Seriously, how many in 50 days ? Not even counting the numerous small frauds on this forum alone...
Boy, I wish I was a genius hacker, it seems it's a really profitable profession these days. Though I despise stealing from the poor, and that's what most hackers do since the rich are too well protected (try hacking into the account database of a multi-billion-dollar bank !).

[indio007]

You people are serious dolts getting hacked isn't exclusive to Bitcoin. Fucking RSA was hacked. There was a Bloomberg article yesterday saying 100 billion was stolen from conventional banks in the last year.

Security is a personal duty.
Unfortunately the nanny state has cowed everyone into thinking someone else should be doing it for them.

[miscreanity]

This kind of turmoil is prevalent with any emerging idea. Early capitalization is preyed upon by fraud and theft. With the rapid pace of development today as compared to a century ago, I'd expect Bitcoin or its successor(s) to achieve firm establishment or even dominance within a decade. A fairly long time at first glance, but fast historically.

[bitfreak!]

Wow. Another big blow for the bitcoin community. At least there seems to be a positive side to this whole story.

_A_GIFT_TO_THE_COMMUNITY_

After the claims have all been filed and dealt with we will be releasing the
entire MyBitcoin processing engine into the public domain. Our only hope is
that the community can improve and adapt the software to all sorts of new and
interesting Bitcoin-related things.

[MaGNeT]

So they aren't crooks, instead they got hacked. This is not really great news.
How many major robberies have there been in the bitcoin world in the last two months, I've lost count ?

And that took them almost a week to tell us? I don't trust them...