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Author Topic: [UNRESPONSIVE POOL OPERATOR] 50BTC.com  (Read 240541 times)
miner49er
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October 26, 2013, 02:05:49 AM
 #921

Hi there!

50BTC has covered all losses. Users were never affected.

In this difficult time for us, we are looking forward to your support and understanding.

-- okay - users were most certainly affected by not being able to access their funds. This is understandable now that we know you cannot identify the exploit, therefore you do not trust your billing software, so we cannot get valid information from the site, or make withdrawals based on a known exploitable software package. this I accept and should have been made aware of earlier (you may not have lost all your hash power as well)

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At this moment we are working around the clock to restore the database and we need your assistance, because each user's case is handled individually, so please be patient.
- We appreciate your hard work, which is in your self interest. We hope you take the above into consideration when you determine the 'special conditions' for past, loyal members of your pool. Your lack of response to the members that you serve and that make 50BTC.com a viable enterprise has, as you can see, had a devastating effect on your ability to retain hash power/ customers. You provide a service for your members and should have had this as your primary concern. Things may have gone very differently.

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In this difficult time for us, we are looking forward to your support and understanding.
there is more understanding now that you have communicated something that we can understand. We do wish you well, and hope you continue with more honesty, transparency, and frequent updates. Again, it is in your best interest. I for one would hate to see this be the end of this pool.

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Qbert
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October 26, 2013, 02:03:10 PM
 #922

Hello,

We are constantly working hard to make our mining pool better, and we are ready to deliver bunch of cool new features in the near term.

Currently we are starting beta testing of the new billing method - DGM (Double Geometric Method) and we are seeking for testers.

We set 0% pool commission for beta testing period, 100% of found bitcoins will be shared between testers.

If you want to help us, please contact our support team for further instructions.

Sincerely yours, 50BTC team!

DGM is announced, then a few days later pool is "hacked"?

Anyone else think that maybe the pool didn't keep sufficient reserves for a long round or two and got stuck holding the bag a few too many times?
Show us the links to the "stolen" coins.  Other pools have done this when it's happened.  Maybe someone running the pool got greedy fingers and started salivating when they saw the pool wallet. Too many unknowns.. typical russian mentality...
I'm surprised this pool lasted as long as it did.
jddebug
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October 26, 2013, 08:54:59 PM
 #923

Hmm All the Generated Coins have gone to this Address

blockexplorer.com/address/198i5jrY1B4xGnQwbiDVuQzcq17thzaH1s


Now all of a sudden that account is empty and all the coins have been sent to

blockexplorer.com/address/198i5jrY1B4xGnQwbiDVuQzcq17thzaH1s

and not a single one spent

Those addresses look very similar.
miner49er
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October 27, 2013, 04:25:04 AM
 #924

Had....
razorfishsl
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October 27, 2013, 04:31:19 AM
 #925

Damn.. So when can we make our withdrawal again? I've quite a large amount of btc in that pool... Sad

Pools are NOT banks……

High Quality USB Hubs for Bitcoin miners
https://bitcointalk.org/index.php?topic=560003
gjpminingco
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October 27, 2013, 07:21:45 AM
 #926

LoL the pool is down to 250 gh/s Pool speed if the counter is even correct if anyone is even mining there anymore

goligo
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October 27, 2013, 07:35:18 AM
 #927

If this address really is related to 50BTC, this is the address they configured AFTER the attack and only contains all blocks solved after the hack. If someone could find the address used BEFORE the attack it would be much more interesting to see the amount of BTC and what happened to it.

Whoops Sorry i pasted the same address twice

here is what that msg was supposed to say:

Hmm All the Generated Coins have gone to this Address

blockexplorer.com/address/198i5jrY1B4xGnQwbiDVuQzcq17thzaH1s


Now all of a sudden that account is empty and all the coins have been sent to

blockexplorer.com/address/1D9Jqaw77Ngsfj9x8pXjHEfHUY7Fxci5DE

and not a single one spent

goligo
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October 27, 2013, 07:58:54 AM
 #928

This seems to be address used by 50BTC since April this year

http://blockchain.info/address/1JVQw1siukrxGFTZykXFDtcf6SExJVuTVE

and this is another temporary one, which was used on the 18th October

http://blockchain.info/address/121Tk3oKDU3GHWeCRnxguzeeM7Tm3XvUns

before they switched to the one posted before

http://blockchain.info/address/198i5jrY1B4xGnQwbiDVuQzcq17thzaH1s


Here are some older pool addresses since August 2012:

April 2013 to October 2013: http://blockchain.info/address/1JVQw1siukrxGFTZykXFDtcf6SExJVuTVE
December 2012 to April 2013: http://blockchain.info/address/145UHBQAmGRpdsXVKhdHtFndnJ8XN8fLjq
October 2012 to December 2012: http://blockchain.info/address/151z2eoe2D9f6cohGNNU96GsKAqLfYP8mN
August 2012 to October 2012: http://blockchain.info/address/13XgASZP7N6pTMeyS5Sq8JeuCAkNzefnT7
goligo
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October 27, 2013, 12:38:05 PM
 #929

I looked at the charts and transactions intensively and couldn't find any extraordinary transactions which may be related to an attack. Quite contrary, it looks like the pool wallet slowly starved out over the last two month until it was down to 0 BTC on the 17th.

Given the fact that the pool operators couldn't find any flaw in their billing system I think it could have been victim of a block solution withholding attack. On a PPS pool the damage of block solution withholding fully affects the pool owners, so a group of miners with enough hashing power (10% of the pool hashrate, so about 10 TH/s for 50BTC) would cause the pool to lose money over time, without having any loss themselves, as they get paid per share, even if they prevent block solutions to be sent to the pool.
Strophon
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October 27, 2013, 01:52:32 PM
 #930

Given the fact that the pool operators couldn't find any flaw in their billing system I think it could have been victim of a block solution withholding attack.

How would that cause the buggy balances we've been seeing?
forzendiablo
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October 27, 2013, 01:57:50 PM
 #931

is this pool working now or not anymore?
i had some money there that i didnt pay out.

miner49er
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October 27, 2013, 01:58:19 PM
 #932

what about the transactions that 50BTC refer to in there post about the 1100BTC that got 'stolen'?
goligo
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October 27, 2013, 03:14:59 PM
 #933

what about the transactions that 50BTC refer to in there post about the 1100BTC that got 'stolen'?

Take a look at the links... they are referring to an attack last year (October 2012) and seem to be unrelated to the current hack.
goligo
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October 27, 2013, 03:45:03 PM
 #934

Given the fact that the pool operators couldn't find any flaw in their billing system I think it could have been victim of a block solution withholding attack.

How would that cause the buggy balances we've been seeing?

I don't know. When I saw the buggy balances, I thought some hacker was able to manipulate the paid out sum to be able to do huge payouts to get as much as possible of the pool wallet. However neither did 50BTC post such transactions, nor have I been able find them. It rather looks like the pool wallet already was empty before the balances got corrupted.

Perhaps the system was not prepared for such an underflow of the pool wallet and did react in an unexpected way? Perhaps this happened when they tried to adapt the system to support DGM? I guess 50BTC needs to shed some more light on this. After all I do just look at the blockchain and take some guesses.
goligo
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October 27, 2013, 05:47:08 PM
 #935

I have found another interesting bitcoin address.... this seems to be kind of the cold wallet for 50BTC.

http://blockchain.info/address/1Co6UHJmGHevWEHAPraSPRVkfGgG46EHwe

It was used to equalize the balance on the other address

http://blockchain.info/address/1JVQw1siukrxGFTZykXFDtcf6SExJVuTVE

posted before where block rewards were collected and payouts were coming from. When the hot wallet balance was too high, bitcoins were withdrawn, when it got low bitcoins were sent. However in the last two month, there wasn't a lot to withdraw, but they needed to add funds to the hot wallet several times to keep it balanced, see transactions

10/17/2013 - 200 BTC - http://blockchain.info/tx/b4759c2afd33a054ebe3abca7b5950e3e01907705f55290486cc206aa99f0a3f
10/11/2013 - 200 BTC - http://blockchain.info/tx/0b3a089cac27461e0ff23bae3f8b9077dc387695a8c577c32867b74f2bc95393
9/27/2013 - 181 BTC - http://blockchain.info/tx/1674f8d33afb0ae9044ed80176de5c930c8c13c08222752088de208dc4f265d6
9/25/2013 - 200 BTC - http://blockchain.info/tx/cab3a14fa99061789faa9ce7ef302cc037a06354f42168be0f8e52d47db4450f
9/18/2013 - 300 BTC - http://blockchain.info/tx/fbe74561818642a54a0e0f73fb95afd5f43e8c2589bb4825781e8c53f370481d
9/16/2013 - 300 BTC - http://blockchain.info/tx/0c013ba89cdf434839ae31ec73f3bd7cb81e30be4a5d9a3c9fdd6015c2759603
9/13/2013 - 400 BTC - http://blockchain.info/tx/0ab28ee44fb7689c26873b3049b1622ff5d6961285d5b3e641f9309774a1d216
9/11/2013 - 400 BTC - http://blockchain.info/tx/08abd121f15a25e5d64b000bf62b315927db9fafc0ecc5acbbca0beba53703bc

So they were paying out more than they received as block rewards for several weeks. I still hope there are enough BTC available from the better times of 50BTC to make a payout of all the open balances. Once they are restored ;-)

goligo
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October 27, 2013, 09:09:20 PM
 #936

My last post for today, I hope at least some of you find the information valuable.... look what Google returned for this bitcoin address:

For example, on March 30th 2013 the 3rd richest bitcoin address 1Co6UHJmGHevWEHAPraSPRVkfGgG46EHwe moved the lions share of funds, 45,000K+ BTC, to a new address 17UUsmejDsjJEtbRcotd289ADp7ZdanH5k (making it the 2nd richest bitcoin address). The majority of BTC sat in 1Co6U for about 6 months. Slowly accumulating from middle 2012 until end of 2012 by what appears to be mining operations.

http://vongesell.wordpress.com/2013/05/25/bitcoin-days-destroyed-post-april-bubble-retrospective/
Mr. Sway
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October 28, 2013, 08:55:17 AM
 #937

-snip-

They probably are getting spammed with messages have you ever thought about that? Stop being conceded give them a few more weeks they paid out last time they got hacked so stop the bitching.

I sell cheap Pizza!
aynstein
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October 28, 2013, 10:47:33 AM
 #938

I noticed 200+ BTC I didn't mine in my account tonight, I emailed support to let them know (I didn't realize it was system wide). I was just skimming over some of the posts and I can't help but notice they found no vulnerability. Sounds like an inside job. If I were the guys looking for the responsible person I would start with "Mr Sniffles" who is always coming in late after the weekend.

Just Sayin....




Good luck, I hope the pool recovers would love to get my actual balance restored!


Cheers.

AltaVista 4 Life!
zulunation
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October 28, 2013, 11:42:56 AM
 #939

Who is the owner of the 50btc?
Tesla71
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October 28, 2013, 03:26:25 PM
 #940

I am starting to think they have kept the funds for them self due to the High Price of BTC

I am starting to also think that this whole " We were hacked " B.S is nothing more then That total and utter B.S how many other are starting to feel that way?

I don't think so. Just look at it from an economic view. You can make lots of money more from the regular pool operation per year with that high hashrate the pool had. I don't think there is so much in the hot/cold wallets as many users are using regular automated payouts (why shouldn't they..)

 

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