[ANN][QB] Malicious Quarkbar altcoins tracked down and eliminated

[derrend]

rogue dev must be gutted he woke up 120btc poorer this morning

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[Jonesd]

rogue dev must be gutted he woke up 120btc poorer this morning

opening his wallet to this picture:

[derrend]

here is the url link to block 1 for anybody who may be interested
http://explorer.cryptocoinrevival.com/b/5UZeBvVRE

[derrend]

opening his wallet to this picture:

Shame we couldn't find his ID, an IP address or anything would have been good. This guy is prob responsible for the Asia coin fraud plus who knows how many others , Imagine if quarkbar had the rogue dev arrested, now that would also be news worthy

[BitcoinNational]

YOU BOYS ARE F*****G LEGENDS, NO OTHER WORD FOR IT, LEGENDS, CRYPTO HEROES IN FACT, CONGRATULATIONS LADS YOU NEVER FAIL TO SURPRISE  EPIC.

  agree

[YarkoL]

Epic stuff!

I'd like to know more about how the scam was accomplished.
From what I understand the batch of coins were not granted as block
reward, so then they were in transaction output?

It worries me how many other altcoins have similar scam
in them.

[Jonesd]

Epic stuff!

I'd like to know more about how the scam was accomplished.
From what I understand the batch of coins were not granted as block
reward, so then they were in transaction output?

It worries me how many other altcoins have similar scam
in them. It looks like all coins should be passed thru an independently
built block explorer check to find out..

We noticed a premine when we finally finished the explorer. Seems to be connected to beecoin and shacoin at the least.

[Jonesd]

ANNOUNCEMENT

We have another announcement this Monday that is very positive.  :-)

[YarkoL]

We noticed a premine when we finally finished the explorer. Seems to be connected to beecoin and shacoin at the least.

They shared a snippet of suspicious code in the form of seemingly innocent but
unncecessary function. Shacoin used that function in concealing the true
money supply when requested thru RPC, but QuarkBar did not as far as I could see.

But since the premine was found via block explorer and not in source code, it
would be interesting to know how could it have been concealed so that it passed the standard
checking procedures in the client.

[micryon]

fyi i posted about the analysis of the code a few weeks ago.. you can look for the signature in other coins just doing a github search.. unfortunately the thread got lost in the sea of other stuff: https://bitcointalk.org/index.php?topic=595056.0

[Jonesd]

We noticed a premine when we finally finished the explorer. Seems to be connected to beecoin and shacoin at the least.

They shared a snippet of suspicious code in the form of seemingly innocent but
unncecessary function. Shacoin used that function in concealing the true
money supply when requested thru RPC, but QuarkBar did not as far as I could see.

But since the premine was found via block explorer and not in source code, it
would be interesting to know how could it have been concealed so that it passed the standard
checking procedures in the client.

We already got rid of the code, but we had no way to see the true coin count, because there was no explorer. Once we had it, we could see there were way too many coins. The current coin count of 10.9 million represents the total amount - frozen wallets.

[sylwt]

what???

[Jonesd]

what???

what what?

[YarkoL]

If the 15,482,256 Quarkbar were in block 1, I have hard
time understanding how could that block could be included
in the chain, since in the code the block reward is defined as 256 coins.

Consequently blocks that have different rewards
would have been rejected (by wallets and clients
built from the code at Github).

Maybe the hidden premine could be in the
genesis block (block 0) and then one could fork the
source but hardcode the block in the new version as well.

[dukektm]

Great news!!!!

[Jonesd]

Update

Frozen scammer assets handed over to Quarkbar, Beecoin and Shacoin communities

When the Quarkbar developers managed to track down the malicious premine coins, they were also able to track the coins back to a trading account of Allcoin.com. Together with this exchange it was decided to freeze this account. Allcoin noticed the account was also used for selling Shacoin and Beecoin, so there is reason to believe the scam is also related to those coins.

Allcoin decided to hand over the frozen coins to the three communities. Each community will receive about 0.15 BTC that they can use to strengthen themselves.

The Cryptocoin Revival Foundation and Allcoin are very proud of getting the funds away from the scammer and give it backto where it belongs, the community.

The official statement can be found here.

[Stinky_Pete]

Awesome stuff! Thank you from a SHACoin miner.

[Jonesd]

Awesome stuff! Thank you from a SHACoin miner.

You're welcome

[shursight]

Very good for all three communities. 

[popolite11]

good work , these coin are now no good.