MyBitcoin has started spending our stolen coins

[piotr_n]

The story about some alleged evil doer who managed to withdraw money from mybitcoin using a double spending method - it was all bullshit and we can prove it today.

I have been monitoring some of the addresses owned by mybitcoin, to which I used to transfer my money.
Some of them still had some coins, even after they allowed people to withdraw the "remaining" 49%.
That was weird already back then...

But recently they started spending the remaining 51%.
Check out these few - they used to belong to my old mybitcoin wallet:
197oprrx1H4u6dNSDCavhB247YmBwGuWa8
1Fv74A11EWzekD5g1oWEdKkBvm6sAvJEuN
1Ae2JQxADft9J7tvHJoc46es2z6SLSfVCV

Interesting, hmm?

[Tuxavant]

I'm not defending mybitcoin.com AT ALL... but your logic is flawed. You can't determine, with only this information, who is actually spending the Bitcoins - hackers or site owners.

[piotr_n]

You can't determine, with only this information, who is actually spending the Bitcoins - hackers or site owners.

I can, basing on the official explanation from the site owners of how the money was stolen:

After careful analysis of the intrusion we have concluded that the software that waited for Bitcoin confirmations was far too lenient. An unknown attacker was able to forge Bitcoin deposits via the Shopping Cart Interface (SCI) and withdraw confirmed/older Bitcoins.

If it was stolen like they claim, these addresses would be empty before the service got shut down, or at least after people took the remaining 49%.
Only the owners of mybitcoin have private keys to these addresses and only they can send money from them.

The bullshiting time is over.

[Piper67]

You can't determine, with only this information, who is actually spending the Bitcoins - hackers or site owners.

I can, basing on the official explanation from the site owners of how the money was stolen:

After careful analysis of the intrusion we have concluded that the software that waited for Bitcoin confirmations was far too lenient. An unknown attacker was able to forge Bitcoin deposits via the Shopping Cart Interface (SCI) and withdraw confirmed/older Bitcoins.

If it was stolen like they claim, these addresses would be empty before the service got shut down, or at least after people took the remaining 49%.
Only the owners of mybitcoin have private keys to these addresses and only they can send money from them.

The bullshiting time is over.

Uhm... you actually BELIEVE the official explanation?

[piotr_n]

Uhm... you actually BELIEVE the official explanation?

Can you read? Or maybe you don't understand simple sentences...?

[Tuxavant]

I dunno... I'd have to ponder it more... but if they used a shared wallet, like instawallet, Bitcoins in your mybitcoin.com account might have actually been stored in another bitcoin address. What address you put in to is not necessarily what address you get out of.

[piotr_n]

I dunno... I'd have to ponder it more... but if they used a shared wallet, like instawallet, Bitcoins in your mybitcoin.com account might have actually been stored in another bitcoin address. What address you put in to is not necessarily what address you get out of.

OK - let me just make one remark here.
This topic is only meant for people who understand what I am saying.
All the rest: just shut up, please - I'm not going to explain it to you, if you haven't got the point by now.

[Piper67]

I dunno... I'd have to ponder it more... but if they used a shared wallet, like instawallet, Bitcoins in your mybitcoin.com account might have actually been stored in another bitcoin address. What address you put in to is not necessarily what address you get out of.

OK - let me just make one remark here.
This topic is only meant for people who understand what I am saying.
All the rest: just shut up, please.

Uh, piotr... maybe if you could express yourself a little bit better. Until you learn how, perhaps you should go back to the sandbox, ok?

[piotr_n]

Uh, piotr... maybe if you could express yourself a little bit better. Until you learn how, perhaps you should go back to the sandbox, ok?

I believe I expressed myself well enough - if you don't get it, I'm sorry, I cannot help you further, perhaps you should go back to the sandbox, ok?

[SgtSpike]

I dunno... I'd have to ponder it more... but if they used a shared wallet, like instawallet, Bitcoins in your mybitcoin.com account might have actually been stored in another bitcoin address. What address you put in to is not necessarily what address you get out of.

OK - let me just make one remark here.
This topic is only meant for people who understand what I am saying.
All the rest: just shut up, please - I'm not going to explain it to you, if you haven't got the point by now.

I understand!

If hackers withdrew 50% of the coins, and the other 50% were given back to the victims, then there should be 0% left in ANY MyBitcoin addresses.  The fact that the coins still exist in the original MyBitcoin addresses proves that the MyBitcoin story is completely false.  Also, the fact that this is the first time the coins have moved from MyBitcoin means that whoever owned MyBitcoin is the one who moved them, which makes it all the more curious where those coins went.

[piotr_n]

It's probably too late already but if you still have your old mybitcoin addresses, maybe we could make a list of those that still own some coins.
Maybe one day they will make a mistake and withdraw them to an address that we can identify a real person by..

[Piper67]

I dunno... I'd have to ponder it more... but if they used a shared wallet, like instawallet, Bitcoins in your mybitcoin.com account might have actually been stored in another bitcoin address. What address you put in to is not necessarily what address you get out of.

OK - let me just make one remark here.
This topic is only meant for people who understand what I am saying.
All the rest: just shut up, please - I'm not going to explain it to you, if you haven't got the point by now.

I understand!

If hackers withdrew 50% of the coins, and the other 50% were given back to the victims, then there should be 0% left in ANY MyBitcoin addresses.  The fact that the coins still exist in the original MyBitcoin addresses proves that the MyBitcoin story is completely false.  Also, the fact that this is the first time the coins have moved from MyBitcoin means that whoever owned MyBitcoin is the one who moved them, which makes it all the more curious where those coins went.

Yes, SGT, we all know what he's trying to say (not that he's fantastically clear about it), but it's fairly well established that not everyone got the 51% back. The general assumption since last summer continues to be that MyBitcoin was a massive con job, most likely from the start, but certainly from the moment the "hack" took place.

As others have pointed out, the addresses don't prove anything in this particular case.

I, for one, am quite convinced that the MyBitcoin coins were dumped as part of the massive decline from about $17 down to $2 over the last five months or so. That and the allinvain coins.

Still, no way to know for sure, regardless of what the rather unlearned piotr claims.

[SgtSpike]

I dunno... I'd have to ponder it more... but if they used a shared wallet, like instawallet, Bitcoins in your mybitcoin.com account might have actually been stored in another bitcoin address. What address you put in to is not necessarily what address you get out of.

OK - let me just make one remark here.
This topic is only meant for people who understand what I am saying.
All the rest: just shut up, please - I'm not going to explain it to you, if you haven't got the point by now.

I understand!

If hackers withdrew 50% of the coins, and the other 50% were given back to the victims, then there should be 0% left in ANY MyBitcoin addresses.  The fact that the coins still exist in the original MyBitcoin addresses proves that the MyBitcoin story is completely false.  Also, the fact that this is the first time the coins have moved from MyBitcoin means that whoever owned MyBitcoin is the one who moved them, which makes it all the more curious where those coins went.

Yes, SGT, we all know what he's trying to say (not that he's fantastically clear about it), but it's fairly well established that not everyone got the 51% back. The general assumption since last summer continues to be that MyBitcoin was a massive con job, most likely from the start, but certainly from the moment the "hack" took place.

As others have pointed out, the addresses don't prove anything in this particular case.

I, for one, am quite convinced that the MyBitcoin coins were dumped as part of the massive decline from about $17 down to $2 over the last five months or so. That and the allinvain coins.

Still, no way to know for sure, regardless of what the rather unlearned piotr claims.

Yeah, I suppose that's true.  If the MyBitcoin story was true, and some people didn't claim their coins, and the MyBitcoin owner decided to just give up on tracing them down, then they could still have some coins left in old addresses that they are now moving.

[Tuxavant]

I understand!

Not only do you understand, you're eloquent in your explanation. Unlike some other people around here. Thank you and Fuck MyBitcoin.com.

[OgNasty]

I, for one, am quite convinced that the MyBitcoin coins were dumped as part of the massive decline from about $17 down to $2 over the last five months or so.

That's what I've believed as well.  Perhaps this is showing that they're now cashing out the remainder of their stolen coins.  Maybe this is the cause of the giant spike down this morning?  If so, I think that would actually be a bullish development for BTC price.

[gnar1ta$]

I, for one, am quite convinced that the MyBitcoin coins were dumped as part of the massive decline from about $17 down to $2 over the last five months or so.

That's what I've believed as well.  Perhaps this is showing that they're now cashing out the remainder of their stolen coins.  Maybe this is the cause of the giant spike down this morning?  If so, I think that would actually be a bullish development for BTC price.

I'll buy this.  I was wondering the same thing when I saw the sell volume and this post.  If a decent percentage of old addresses can be found and shown to have recent activity, I don't think the unclaimed coins story will hold.

[piotr_n]

I'll buy this.  I was wondering the same thing when I saw the sell volume and this post.  If a decent percentage of old addresses can be found and shown to have recent activity, I don't think the unclaimed coins story will hold.

Even if they are spending the unclaimed coins (which I don't believe) it's still stealing our money in a daylight, isn't it?

[DeepBit]

I can acknowledge that.

After mybitcoin "hack" some of my users told me that they accidentally sent their rewards to mybitcoin addresses that they can't access anymore.
Today I checked those addresses and found that at least some of those TXes were redeemed at 07.01.2012

[Piper67]

I can acknowledge that.

After mybitcoin "hack" some of my users told me that they accidentally sent their rewards to mybitcoin addresses that they can't access anymore.
Today I checked those addresses and found that at least some of those TXes were redeemed at 07.01.2012

Yup, pretty obvious that the "hack" was really a con job. But that was fairly clear from about a week or two after it happened, not much new to see here.

[gnar1ta$]

Even if they are spending the unclaimed coins (which I don't believe) it's still stealing our money in a daylight, isn't it?

Yes. Do you have the time to track all the addresses and hope one lands at an identifiable source? I don't.  And I doubt any law enforcement agency has the time and knowledge.  But if someone here has the time and can collect enough information, maybe it can go somewhere - finally?