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Author Topic: bitcoin7.com 'hacked'. Database and wallets 'stolen'  (Read 20717 times)
BitcoinPorn
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October 06, 2011, 05:32:50 AM
 #21

Scam.

And everyone who used it deserve to lost their coins.  Wink

I see there were troubles https://bitcointalk.org/index.php?topic=44390.0 https://bitcointalk.org/index.php?topic=45307.0 , but scam?

Sorry to all the users.

I hope all the exchanges learn from whatever mistakes were made that could have been prevented here.

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Bigpiggy01
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October 06, 2011, 05:36:45 AM
 #22

There was rumor a couple of weeks or so ago, that this actually happened back then.

It was mentioned in #btc-value and on #bitcoin

I assume that someone has IRC logs from that far back mine however are gone.

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October 06, 2011, 05:40:22 AM
 #23

Scam.

And everyone who used it deserve to lost their coins.  Wink

I see there were troubles https://bitcointalk.org/index.php?topic=44390.0 https://bitcointalk.org/index.php?topic=45307.0 , but scam?

Sorry to all the users.

I hope all the exchanges learn from whatever mistakes were made that could have been prevented here.
Yesterday i wrote that:

The lesson I learned from the Mybitcoin scam was to never use another online wallet again.  It doesn't matter how secure the wallet is, there is nothing preventing the owner from walking away with all your money.  Remember, Bitcoin has absolutely no property rights. This is a huge downfall that will have to be addressed before widespread adoption can take place. Until then, secure your coins yourself.  The client isn't that hard to use and now has encrypted wallets.  And this forum is full of ways to securely back up wallets.

The client is the problem.    You can't access it easily from your mobile phone,  your work computer if you have it installed at home,  etc.

MyBitCoin was a complete scam...    but just because you had that doesn't mean that every freaking bitcoin company out there is a scam...   Is Mt.Gox a scam?  Tradehill a scam? 


Oh, i've read that SO many times in the market forum of EVE Online.

And everytime a new scam appeared. Not only that, but each time they scammed more and more money. And yet they are "yes but not everything is a scam", and people keep investing...erh...getting scammed.

https://bitcointalk.org/index.php?topic=46897.msg558689#msg558689

And guess what, i was right. The same tactic saved me from all scams in EVE Online, while other people...well, the last big scam in EVE, some months ago, scammed over a trillion of billions of ISK. Funny thing: a lot of ppl were saying that it was a scam, but that didn't stop them from finding fools to scam.
BitcoinPorn
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October 06, 2011, 05:46:15 AM
 #24


https://bitcointalk.org/index.php?topic=46897.msg558689#msg558689

And guess what, i was right. The same tactic saved me from all scams in EVE Online, while other people...well, the last big scam in EVE, some months ago, scammed over a trillion of billions of ISK. Funny thing: a lot of ppl were saying that it was a scam, but that didn't stop them from finding fools to scam.

So this is overall feeling on the topic since Bitcoin is what is in the eyes of the laws and governments or whoever.  I understand that.   I still think the real threat of having such large quantities of Bitcoin being held by some who may not be the top people in security factors in.

pekv2
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October 06, 2011, 06:07:50 AM
 #25

Wonder what the total was taken.
saadtariq30
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October 06, 2011, 06:09:49 AM
 #26

and obviously all the coins will be dumped on the market, pushing the price down...
Bitcoin Oz
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October 06, 2011, 06:32:23 AM
 #27

Wonder what the total was taken.

yes I wonder too. I dont think the volume was big.

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October 06, 2011, 06:56:02 AM
 #28

I hope all the exchanges learn from whatever mistakes were made that could have been prevented here.

Ya.  Execute the end-game strategy before the next exchange does so.  Being late on the trigger can cause users to wise up about the stupidity of leaving excess funds in someone else's care.  Or not Sad

On the more hopeful side, I am glad that lowlifes are obtaining some reasonable amount of capital in this manner.  I'm betting that these are the types of people who will release their (and I use 'their' deliberately) BTC in exchange for scooters, rent, blowjobs, etc.

---

As for the funds taken, I looked at the offers history on the bitcoincharts history and it seemed to be around 1600 for the USD one.  Probably some morons had BTC with these guys which were not in play.  Lets say 3000 BTC total.  So after all of whatever effort they put into this thing, they made off with about what a semi-skilled software engineer makes in a few months.  Pretty lame.  At least by not having a big haul they probably didn't piss off anyone too important.

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October 06, 2011, 07:03:45 AM
 #29

So after all of whatever effort they put into this thing, they made off with about what a semi-skilled software engineer makes in a few months.  Pretty lame.

More than their allowance money I bet.    I say this jokingly, but it might be true.

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October 06, 2011, 07:07:40 AM
 #30

About 1..2 weeks before this happened, there was an incident where I sent euros to b7, but b7 claimed they never arrived. I started investigating this by contacting the involved banks, but before my investigation finished, b7 reported that my euros finally arrived. I was able to trade them for BTC, and withdraw the BTC. Unfortunately I chose to not withdraw all BTC  Cry .

This incident is consistent with an honest b7, but another theory could be that they tried whether this was a feasible way to steal money, and decided to cancel the action once they somehow found out that I was serious about getting my money back.

If this 'hacking' incident is another theft attempt, I assume we can again push the b7 people back into honest behavior by showing how serious we are about getting the money back. To start this: I have e-mail headers from Radoslav, which confirm that they were sent from some game company in Sofia. It should not be too difficult to find all kinds of evidence about his physical identity.

I expect that an honest b7 will be able to send all euros and dollars back to their owners. Since the user database was compromised, authentication should be done by e-mail. As far as the BTC are concerned, I expect them to release evidence about which Bitcoin addresses were used in the three wallets, and send back at least the fraction of BTCs that was not stolen.

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tvbcof
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October 06, 2011, 07:23:51 AM
 #31

About 1..2 weeks before this happened, there was an incident where I sent euros to b7, but b7 claimed they never arrived.
...

Actually it might be kind of nice if a solution existed where a terse log of anomalies associated with businesses which hold other peoples money could be reported.  Perhaps patterns could be spotted if they emerge and users might have some sort of advanced warning.  I'm thinking of a stone simple form based incident report thing which would take only a moment to input info into, and the results could be searched.

Maybe the bitsyn people could pick up on that one.

ShadowOfHarbringer
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October 06, 2011, 09:05:06 AM
 #32

And BTC/USD went down to 4.60 right away.

Until people (especially exchanges owners) start to take security more seriously, Bitcoin will not take off.

Creating an exchange that doesn't have bank-grade or better level of security is a complete waste of time.

Gabi
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October 06, 2011, 12:05:20 PM
 #33

And BTC/USD went down to 4.60 right away.

Until people (especially exchanges owners) start to take security more seriously, Bitcoin will not take off.

Creating an exchange that doesn't have bank-grade or better level of security is a complete waste of time.
Uh?

Wake up, the exchange was a scam...
ShadowOfHarbringer
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October 06, 2011, 12:32:23 PM
 #34

And BTC/USD went down to 4.60 right away.

Until people (especially exchanges owners) start to take security more seriously, Bitcoin will not take off.

Creating an exchange that doesn't have bank-grade or better level of security is a complete waste of time.
Uh?

Wake up, the exchange was a scam...

Oh, seriously ?

Sorry, didn't have time to read the whole topic in detail.

Anyway, scam exchanges are even worse for the currency than badly secured exchanges, so my point stands.

BitcoinPorn
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October 06, 2011, 12:58:34 PM
 #35

Observation from /r/Bitcoin In light of the recent bitcoin hacks...does anyone else think it's suspicious that an awful lot of namecoin have been moving around in a short period of time?

http://www.reddit.com/r/Bitcoin/comments/l2xbq/in_light_of_the_recent_bitcoin_hacksdoes_anyone/

Phinnaeus Gage
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October 06, 2011, 01:43:30 PM
 #36




Namecoin, Mr. Moon, Chris, Christian, B7, Youth Suicide, moonco.in, hacked, ... , etc. We're going to need a bigger chalkboard.



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October 06, 2011, 02:08:35 PM
 #37

And BTC/USD went down to 4.60 right away.

Until people (especially exchanges owners) start to take security more seriously, Bitcoin will not take off.

Creating an exchange that doesn't have bank-grade or better level of security is a complete waste of time.

CampBX is a very secure exchange.

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WiseOldOwl
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October 06, 2011, 04:19:52 PM
 #38

And BTC/USD went down to 4.60 right away.

Until people (especially exchanges owners) start to take security more seriously, Bitcoin will not take off.

Creating an exchange that doesn't have bank-grade or better level of security is a complete waste of time.

CampBX is a very secure exchange.


I liked the way CampBX handled their shit from the beginning, and I still think they are the way to go in the long run. They just need some market makers Smiley You can tell their knowledge and effort are above average.

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XRP/BTC/LTC/BTE
nmat
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October 06, 2011, 04:31:03 PM
 #39

I liked the way CampBX handled their shit from the beginning, and I still think they are the way to go in the long run. They just need some market makers Smiley You can tell their knowledge and effort are above average.

We haven't heard from them for I while... I wonder what they have been up to. I would really like to have SEPA transfers for example.


As for bitcoin7, I wasn't expecting this. A lot of people were using it so I thought they had appropriate security measures in place.
cjp
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October 06, 2011, 08:03:01 PM
 #40

As for bitcoin7, I wasn't expecting this. A lot of people were using it so I thought they had appropriate security measures in place.

It's a bad form of reasoning. A lot of people actually don't think that much, so trusting on their judgement should only be a last resort.

Actually, there were already previous mentions of bad programming on this exchange. I largely ignored it because this usually was a quite cheap exchange (low exchange rate). Depending on how much I will get back, I might have lost more because of this than I saved with the low exchange rate.

BTW, a new message appeared on the B7 website:

Quote
Dear User,
Please read carefully the following update.

As a result of the compromised user database, we have created a procedure for withdrawing funds which comprises of several verification steps.

Each of our users will receive an email with specific instructions within the next 72 hours.

Thank you for your patience

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