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gembitz
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December 13, 2018, 03:05:41 AM |
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In reference to Cryptopia’s notice about EMC2 wallet:
‘Market Paused
10 December 2018 - Our EMC2 market pause is ongoing, as we have determined that this coin suffered a 51% network attack in September, and associated issues have not yet been resolved with the development team. We will provide further updates as they become available, apologize for any inconvenience and appreciate your patience in the meantime.
’
Here is our statement/update:
The issue with Cryptopia that differs from other exchanges is that Cryptopia did not have monitoring tools in place for EMC2 and probably not for many other coins, and let attack continues for 10 days.
In situations of 51% attack, exchanges usually close the doors immediately, and work with development teams on investigating possible financial damage and applying updates to close security holes or to push major security improvements, what EMC2 did.
Security part was covered by implementing KMD dPoW which protects coin from further threats.
Other exchanges already updated the wallet and let the market go. EMC2 is well protected now.
On financial side, we had informal agreement with Cryptopia to keep the market running even before Lightsaber release and to do a refund up to 200k of EMC2 in the case attack. At that time Cryptopia was not affected by those 51% attacks.
200k of EMC2 was taken as the number that matched the daily volume on Cryptopia and was also amount that Einsteinium Foundation was comfortable with to do refund. Double spent trades are only percentage of total daily trades, thus 200k of EMC2 was more than enough as insurance.
Back to the the topic - the issue with Cryptopia is simply that they were not aware that they’ve been hacked until we asked them to upgrade the wallet to Lightsaber, so they performed sum check and noticed missing coins.
They came back to Einsteinium asking to cover the total of 10 days hacking which is 1,788,545 EMC2 coins.
Einsteinium Foundation does not want (nor can) to go over agreed 200k.
Accepting refund would mean accepting other costs and putting market back to normal.
It is on Cryptopia turn to let the public know what is coming next.
  #cryptopia be like ... |
©2021*MY POSTS ARE STRICTLY FOR NOVELTY AND/OR PRESERVATION/COLLECTING PURPOSES ONLY!*It should not be regarded as investment/trading advice.*advocate to promote sharing and free software for the bitcoin community* #EFF #FSF #XTZ ===> START WITH NOTHING AND BUILD IT INTO SOMETHING!
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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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peter054
Jr. Member
 Offline
Activity: 125
Merit: 1
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December 13, 2018, 01:09:37 PM |
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at the current rate loss of exchange 25 BTC. This is not too much for such an exchange. Users should not suffer, it is not their fault. If hackers hack into my account and take my money, the exchange returns nothing to me. So I should not pay for the problems of the exchange.
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gembitz
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December 13, 2018, 01:51:32 PM |
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at the current rate loss of exchange 25 BTC. This is not too much for such an exchange. Users should not suffer, it is not their fault. If hackers hack into my account and take my money, the exchange returns nothing to me. So I should not pay for the problems of the exchange.
they are likely working in collusion with bittrex ~ extorting shitcoin devs is the 2018 exchange hustle for insiders....  meh |
©2021*MY POSTS ARE STRICTLY FOR NOVELTY AND/OR PRESERVATION/COLLECTING PURPOSES ONLY!*It should not be regarded as investment/trading advice.*advocate to promote sharing and free software for the bitcoin community* #EFF #FSF #XTZ ===> START WITH NOTHING AND BUILD IT INTO SOMETHING!
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bluelab
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December 14, 2018, 09:08:04 AM |
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means those have emc2 coin in cryptopia lose there coin no refund  ? It does not mean that, there will be some course of action to recover those coins. |
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gembitz
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December 14, 2018, 01:54:52 PM |
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means those have emc2 coin in cryptopia lose there coin no refund ? It does not mean that, there will be some course of action to recover those coins. SIT AROUND AND DO NOTHING TO MOVE THE COIN FORWARD? :\ HMMM |
©2021*MY POSTS ARE STRICTLY FOR NOVELTY AND/OR PRESERVATION/COLLECTING PURPOSES ONLY!*It should not be regarded as investment/trading advice.*advocate to promote sharing and free software for the bitcoin community* #EFF #FSF #XTZ ===> START WITH NOTHING AND BUILD IT INTO SOMETHING!
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aidit45@gmail.com
Sr. Member
Offline
Activity: 1554
Merit: 255
payMe - P2E
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December 14, 2018, 01:58:06 PM |
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Scientific research in the field of what will be done. Does this project already have experts in the research field in question or will work with experts throughout the world. This is a very large and external project.
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gembitz
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December 14, 2018, 02:11:56 PM |
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Scientific research in the field of what will be done. Does this project already have experts in the research field in question or will work with experts throughout the world. This is a very large and external project.
you even science brah? =) LOLLL |
©2021*MY POSTS ARE STRICTLY FOR NOVELTY AND/OR PRESERVATION/COLLECTING PURPOSES ONLY!*It should not be regarded as investment/trading advice.*advocate to promote sharing and free software for the bitcoin community* #EFF #FSF #XTZ ===> START WITH NOTHING AND BUILD IT INTO SOMETHING!
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djnocide
Legendary
Offline
Activity: 1164
Merit: 1000
Einsteinium Foundation Board Member and Treasurer
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December 14, 2018, 05:06:48 PM |
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Scientific research in the field of what will be done. Does this project already have experts in the research field in question or will work with experts throughout the world. This is a very large and external project.
We have people with good scientific knowledge to talk to people who submit projects. They can ask the right questions and are able to understand if everything is legit. |
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gembitz
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December 14, 2018, 06:31:23 PM |
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Scientific research in the field of what will be done. Does this project already have experts in the research field in question or will work with experts throughout the world. This is a very large and external project.
We have people with good scientific knowledge to talk to people who submit projects. They can ask the right questions and are able to understand if everything is legit. yes but you have floundered with your fortune lol |
©2021*MY POSTS ARE STRICTLY FOR NOVELTY AND/OR PRESERVATION/COLLECTING PURPOSES ONLY!*It should not be regarded as investment/trading advice.*advocate to promote sharing and free software for the bitcoin community* #EFF #FSF #XTZ ===> START WITH NOTHING AND BUILD IT INTO SOMETHING!
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bluelab
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December 14, 2018, 06:48:45 PM |
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Scientific research in the field of what will be done. Does this project already have experts in the research field in question or will work with experts throughout the world. This is a very large and external project.
We have people with good scientific knowledge to talk to people who submit projects. They can ask the right questions and are able to understand if everything is legit. yes but you have floundered with your fortune lol Unfortunate yes, so now you have to buy join the crew  |
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gembitz
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December 14, 2018, 07:03:14 PM |
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Scientific research in the field of what will be done. Does this project already have experts in the research field in question or will work with experts throughout the world. This is a very large and external project.
We have people with good scientific knowledge to talk to people who submit projects. They can ask the right questions and are able to understand if everything is legit. yes but you have floundered with your fortune lol Unfortunate yes, so now you have to buy join the crew buy buy buy  lol |
©2021*MY POSTS ARE STRICTLY FOR NOVELTY AND/OR PRESERVATION/COLLECTING PURPOSES ONLY!*It should not be regarded as investment/trading advice.*advocate to promote sharing and free software for the bitcoin community* #EFF #FSF #XTZ ===> START WITH NOTHING AND BUILD IT INTO SOMETHING!
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hemant111
Newbie
Offline
Activity: 57
Merit: 0
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December 17, 2018, 04:28:41 PM |
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when cryptopia release emc2 holder coin
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javadth
Newbie
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Activity: 52
Merit: 0
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December 21, 2018, 12:00:42 PM |
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now, what should we do about cryptopia issue?
should we withdraw our coins and emc2 will delisted or not?
this 51 attack happened to another coin, zet and i lost everything about it.
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hemant111
Newbie
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Activity: 57
Merit: 0
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December 21, 2018, 02:00:26 PM |
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please all emc2 coin holder those coin in cryptopia create ticket in cryptopia... wallet open for withdraw so holder transfer there coin in other exchange.......
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djnocide
Legendary
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Activity: 1164
Merit: 1000
Einsteinium Foundation Board Member and Treasurer
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December 21, 2018, 03:39:26 PM |
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now, what should we do about cryptopia issue?
should we withdraw our coins and emc2 will delisted or not?
this 51 attack happened to another coin, zet and i lost everything about it.
Cryptopia sent an email stating that on January 4th they will open withdrawal for the remaining of the coins they have and will delist EMC2 after that. |
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mannaart
Jr. Member
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Activity: 131
Merit: 2
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December 21, 2018, 03:41:39 PM |
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There are over 1 mln stolen. You think you can withdrawl?😢😢
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ShroomsKit_DisgraceREAL
Newbie
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Activity: 42
Merit: 0
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December 21, 2018, 05:49:18 PM |
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Does anyone know the wallet or addresses manage by Cryptopia to know how much coins they are actually holding at the moment?
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Jonathanbareza
Newbie
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Activity: 13
Merit: 0
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December 22, 2018, 11:30:55 AM |
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Hi Emc2 team, what happened on your project. you said on your post before that on november there will be a hardfork and 1:1 of new coins. now the year 2018 will almost end and up to now there are no update about the fork if it still be push thru. the only news we're getting is that exchange are delisting you. first polineix then cryptopia. then what's next bittrex?
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djnocide
Legendary
Offline
Activity: 1164
Merit: 1000
Einsteinium Foundation Board Member and Treasurer
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December 22, 2018, 06:44:15 PM |
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Hi Emc2 team, what happened on your project. you said on your post before that on november there will be a hardfork and 1:1 of new coins. now the year 2018 will almost end and up to now there are no update about the fork if it still be push thru. the only news we're getting is that exchange are delisting you. first polineix then cryptopia. then what's next bittrex?
Yes hard fork will happen, in 2019. The implementation of Komodo DPoW delayed all the other projects the team was working on. Poloniex delisted EMC2 based on ICO listing rules which doesn't apply to EMC2. Cryptopia is delisting EMC2 because the team won't payback 10 days of negligence. The team was ready to payback 1 day of trading if an attack happened but it happened for 10 days. Cryptopia realized they got attacked when we asked them to update their wallet in october (the attack happened in september). EMC2 is not delisted because the team is not active or the coins has low volume. |
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bluelab
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December 22, 2018, 07:21:35 PM
Last edit: December 23, 2018, 10:01:43 PM by bluelab |
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Hi Emc2 team, what happened on your project. you said on your post before that on november there will be a hardfork and 1:1 of new coins. now the year 2018 will almost end and up to now there are no update about the fork if it still be push thru. the only news we're getting is that exchange are delisting you. first polineix then cryptopia. then what's next bittrex?
Could you explain what is the connection between delisting from cryptopia and hard fork? |
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