Bitcoin Forum
December 11, 2016, 02:22:05 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Was the recent price spike due to hacked accounts?  (Read 1168 times)
zby
Legendary
*
Offline Offline

Activity: 1431


View Profile
September 12, 2011, 08:39:13 AM
 #1

Quote
As users may have been aware of, the Bitcoin Forum (https://bitcointalk.org/ - independent of Mt.Gox) has been the target of various attacks during the past few days.

As a result of this event, some of the Bitcoin Forum users` accounts may have been compromised.  Subsequently, some of the information have been used to conduct unauthorized orders, resulting in unusually high trade activities.  

Link: https://support.mtgox.com/entries/20433652-resolved-outage-11804-unexecuted-trades - it is not clear if it was the massive buy orders that originated from the hacked accounts -  but it looks likely.  It is also possible that the other anomalies observed were a result of the admins work.
1481422925
Hero Member
*
Offline Offline

Posts: 1481422925

View Profile Personal Message (Offline)

Ignore
1481422925
Reply with quote  #2

1481422925
Report to moderator
1481422925
Hero Member
*
Offline Offline

Posts: 1481422925

View Profile Personal Message (Offline)

Ignore
1481422925
Reply with quote  #2

1481422925
Report to moderator
1481422925
Hero Member
*
Offline Offline

Posts: 1481422925

View Profile Personal Message (Offline)

Ignore
1481422925
Reply with quote  #2

1481422925
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Sekioh
Full Member
***
Offline Offline

Activity: 163


FirstBits: 1sekioh


View Profile
September 12, 2011, 09:00:45 AM
 #2

No.

If you read what you linked, the red was 'normal activity' the blue spikes are the hacked trades, which seem to be barely touching any of the market if this is truthful.
zby
Legendary
*
Offline Offline

Activity: 1431


View Profile
September 12, 2011, 09:13:30 AM
 #3

Quote
As shown in the graph below, the orders according to the red line have been executed.  However, all orders below and above the red line reflect the unusual activities within the last 12 hours.
This is the exact wording (and this is what I read) - they don't actually say the red line was 'normal activity' (as you apparently read it) - only that these were the trades that were executed and that the rest were 'unusual'.  But even if we interpret it your way - the coincidence would still be suspicious.  All of this is rather foggy - but yeah - it's not unusual for mtgox.
Serge
Legendary
*
Offline Offline

Activity: 1050


View Profile
September 12, 2011, 01:05:25 PM
 #4

one of my buy orders at $5.8 yesterday was reversed last night
Minsc
Full Member
***
Offline Offline

Activity: 210


View Profile
September 12, 2011, 02:04:45 PM
 #5

one of my buy orders at $5.8 yesterday was reversed last night

How does Gox reverse a buy order if you buy and then withdraw coins right away?

1DcXvfJdeJch9uptKopte5XQarTtj5ZjpL
rebuilder
Legendary
*
Offline Offline

Activity: 1618



View Profile
September 12, 2011, 05:49:38 PM
 #6


How does Gox reverse a buy order if you buy and then withdraw coins right away?

Either they don't, or they pay out of their own pocket to do it.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
---------------------------------------------------------------
Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
Serge
Legendary
*
Offline Offline

Activity: 1050


View Profile
September 12, 2011, 06:40:05 PM
 #7

one of my buy orders at $5.8 yesterday was reversed last night

How does Gox reverse a buy order if you buy and then withdraw coins right away?

I didn't withdraw right away, but i assume they would put in negative balance for w/e amount is due if you withdraw right away
thing is by my records i already sold those btc's (I had balance in BTC and USD and trades on both sides), I keep record what i purchase and sale and after reversal had to adjust my positions, good thing I've spotted it early or it could have put me in bad position where I would do a sale counting those coins in which were pulled out.

this is the message in my account history
"Cancel trade: Invalid trade matching (BTC bought: [tid:xxxxxxxxxxxxxxxx] XXXX BTC at $5.80000)" with refund amount


Something definitely out of ordinary was happening at mtgox yesterday
Sekioh
Full Member
***
Offline Offline

Activity: 163


FirstBits: 1sekioh


View Profile
September 12, 2011, 07:24:34 PM
 #8

Quote
As shown in the graph below, the orders according to the red line have been executed.  However, all orders below and above the red line reflect the unusual activities within the last 12 hours.
This is the exact wording (and this is what I read) - they don't actually say the red line was 'normal activity' (as you apparently read it) - only that these were the trades that were executed and that the rest were 'unusual'.  But even if we interpret it your way - the coincidence would still be suspicious.  All of this is rather foggy - but yeah - it's not unusual for mtgox.

I may have misread that that way, but still, doesn't seem right that if it was a single person or single group that they would do many flip trades like that. If anything you'd just straight dump them on market fill and it'd be a single steep line going right up and down, not a steady 'move' and jitter at a certain price range.
heatherk
Newbie
*
Offline Offline

Activity: 9


View Profile
September 12, 2011, 07:38:28 PM
 #9

One of my accounts appears to be locked, but I never did anything wrong. I'm in contact, but was this from the SA attack? Did they really manage to hack accounts? If they can read my private messages why would they think I was involved? My on/off bf has an account here--I'm so worried and confused.
mp420
Hero Member
*****
Offline Offline

Activity: 501


View Profile
September 12, 2011, 07:44:22 PM
 #10

Rumor has it MtGox has been even more seriously compromised:

https://bitcointalk.org/index.php?topic=43678.0

If there's anything at all to it, the prudent thing for MtGox to do would be to halt all trading, require e-mail confirmation of all withdrawals and close the whole exchange down until this breach has been thoroughly investigated.
ElectricMucus
Legendary
*
Offline Offline

Activity: 1540


Drama Junkie


View Profile
September 12, 2011, 08:56:01 PM
 #11

Rumor has it MtGox has been even more seriously compromised:

https://bitcointalk.org/index.php?topic=43678.0

If there's anything at all to it, the prudent thing for MtGox to do would be to halt all trading, require e-mail confirmation of all withdrawals and close the whole exchange down until this breach has been thoroughly investigated.
This isn't in mtgox interest though. They aren't generating revenue for the time trading is halted and would most likely loose their position as #1 exchange afterwards. This could happen nevertheless from the current outlook.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
Revalin
Hero Member
*****
Offline Offline

Activity: 728


165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g


View Profile
September 13, 2011, 06:10:10 PM
 #12

This isn't in mtgox interest though. They aren't generating revenue for the time trading is halted and would most likely loose their position as #1 exchange afterwards. This could happen nevertheless from the current outlook.

I thought so too in June, but they picked up right where they left off.  They didn't earn anything on trades during that time, but it certainly doesn't appear their customer base fled.

      War is God's way of teaching Americans geography.  --Ambrose Bierce
Bitcoin is the Devil's way of teaching geeks economics.  --Revalin 165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!