NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs

[wiser]

Really depends on if its an inside job or not i guess?

I suspect someone inside the company may have had access.
Still blows me away that they kept that much funds in one hot wallet.
At least 300M XEM was theirs that they bought in 2016 also. Dunno why that even needed to be in the same wallet.

That's the part that blows me away, actually. Why would anyone keep 5% of the total money supply in a hot wallet?

[Alohaboy?!]

Really depends on if its an inside job or not i guess?

I suspect someone inside the company may have had access.
Still blows me away that they kept that much funds in one hot wallet.
At least 300M XEM was theirs that they bought in 2016 also. Dunno why that even needed to be in the same wallet.

That's the part that blows me away, actually. Why would anyone keep 5% of the total money supply in a hot wallet?

I just think they got lazy because they earned probably a lot and so the user funds were not that "worthy" to protect in regards to the own big stash. Only thing I could think of is something like that

[asdlolciterquit]

Hi everyone, i want to transfer my xem on my new trezor. The problem is that i really don't know how to do it. Is there any guide some where? Can anybody help me?

Thanks in advance.

[atracom]

What is really nice to see is this half-efficient way to mark stolen money. Whatever people say about cryptocurrencies the latter are still better  under such circumstances then fiat currencies, which, when stolen, are typically stolen forever. Despite all these hacks, volatility, and unhealthy hypes, the cryptoworld is getting more and more efficient if compared to conservative finance and billing systems. Let's hope for better future and let's pray together that I will be get back my humble $40 invested with some humble profit of thousands ))

[gentlemand]

Hi everyone, i want to transfer my xem on my new trezor. The problem is that i really don't know how to do it. Is there any guide some where? Can anybody help me?

Thanks in advance.

https://www.youtube.com/watch?v=nPi7Xzn5Tq0&feature=youtu.be

Waffle until 2.30

[ruletheworld]

do know what happened to huge amount stolen from coincheck xem? are the stolen coin addresses available? Have the coins already been dropped on exchanges?

All funds are traceable and NEM foundation is marking all accounts with the stolen funds.
only about 1100 XEM has been moved around AFAIK, and no XEM has been moved to any exchanges yet.

I think the thieves will have a very difficult time cashing out. Five percent of the entire NEM supply has been effectively taken out of circulation. I mean, it can technically "circulate," but it's tainted.

My guess is the exchange and hacker will reach some kind of settlement with regards to this stolen NEM. Seems like an impasse at the moment, but perhaps there are talks going on that aren't public already.

Very possible, that sort of thing would not be disclosed at this time.

Yeah. And for the people new to crypto-land, the precedence here was set by NXT when a hacker stole a bunch from BTER. https://www.ccn.com/fifty-million-nxt-stolen-bter-cryptocurrency-exchange-ransomed-hacker/. They seem to have negotiated a fee of 100 BTC and the hacker returned the NXT to the exchange. It is possible that a similar scenario might unfold here. It would seem to be in everyone's best interest if such a thing happens though - the hacker can get some reward (call is a 'security bounty') and the exchange gets its crypto back.

Really depends on if its an inside job or not i guess?

I suspect someone inside the company may have had access.
Still blows me away that they kept that much funds in one hot wallet.
At least 300M XEM was theirs that they bought in 2016 also. Dunno why that even needed to be in the same wallet.

Yeah, you're right.

I bet it's all just inertia. They implemented a system that appeared to work, and they never bothered to change it even as the price and thus the total value of funds held by 10x 100x etc. Definitely goes against all best practices in the ecosystem.

[cheechu]

If i am not on mistake i have read some where else that NEM is using in some campaigns as  payment mode like btc and eth, this chain is good and many of new coin campaigns adopting too like waves, eth and btc. I was unaware about this but reading more to explore NEM more. this seems a great opportunity to adopt this coin.

[Flodner]

Yes, you are right, some companies use NEM as the platform for ICO.
I.e. Loyalcoin, I took part in their bounty campaign and that's actually how I got more interested in NEM, as I installed wallet to receive bounty reward there. Then somehow watched several videos and understood that NEM are interested to develop lots of things (staring from Pac Nem game, this example their vice-president gives often in speeches to more complex solutions).
If somebody knows any other projects now of ICOs going on NEM platform - please share, it would be interesting to check

[gentlemand]

At this point a crop of ICOs taking XEM is not necessarily good news. The XEM market is far too thin to support more than a handful. If it ever got to ETH's ICO mania you'd better pray for 50x the volume or the entire thing would be squashed flatter than a micron.

[nzminer]

At this point a crop of ICOs taking XEM is not necessarily good news. The XEM market is far too thin to support more than a handful. If it ever got to ETH's ICO mania you'd better pray for 50x the volume or the entire thing would be squashed flatter than a micron.

If we had a pile of ICO's it would in turn cause volume to rise as more people buy XEM to participate in ICO's.

Not that im a big fan of ICO's largely we have avoided alot, but more are starting to move over to NEM.

[ruletheworld]

At this point a crop of ICOs taking XEM is not necessarily good news. The XEM market is far too thin to support more than a handful. If it ever got to ETH's ICO mania you'd better pray for 50x the volume or the entire thing would be squashed flatter than a micron.

It cuts both ways though. If there's more demand for XEM, then its volume will increase. That demand could come from ICOs or other places. It is unlikely to get ETH's level of ICO mania though, but a few good projects on XEM can attract other more ambitious ICOs.

[Photographer]

do know what happened to huge amount stolen from coincheck xem? are the stolen coin addresses available? Have the coins already been dropped on exchanges?

All funds are traceable and NEM foundation is marking all accounts with the stolen funds.
only about 1100 XEM has been moved around AFAIK, and no XEM has been moved to any exchanges yet.

I think the thieves will have a very difficult time cashing out. Five percent of the entire NEM supply has been effectively taken out of circulation. I mean, it can technically "circulate," but it's tainted.

My guess is the exchange and hacker will reach some kind of settlement with regards to this stolen NEM. Seems like an impasse at the moment, but perhaps there are talks going on that aren't public already.

If this would happen the exchange would become liable of complicity in the theft and guilty of money laundering. I think both the team AND police should continuosly track the stolen NEM and be ready to intervene as soon as some owner of wallet where the coin move can be identified.

[ruletheworld]

do know what happened to huge amount stolen from coincheck xem? are the stolen coin addresses available? Have the coins already been dropped on exchanges?

All funds are traceable and NEM foundation is marking all accounts with the stolen funds.
only about 1100 XEM has been moved around AFAIK, and no XEM has been moved to any exchanges yet.

I think the thieves will have a very difficult time cashing out. Five percent of the entire NEM supply has been effectively taken out of circulation. I mean, it can technically "circulate," but it's tainted.

My guess is the exchange and hacker will reach some kind of settlement with regards to this stolen NEM. Seems like an impasse at the moment, but perhaps there are talks going on that aren't public already.

If this would happen the exchange would become liable of complicity in the theft and guilty of money laundering. I think both the team AND police should continuosly track the stolen NEM and be ready to intervene as soon as some owner of wallet where the coin move can be identified.

That's not how complicity works mate. If it isn't an inside job, it makes sense to try and negotiate something, since it reduces cost and risk to both the parties. What police would track this internationally over the internet? You do realize that the hacker doesn't have to be in the same jurisdiction as the exchange right?

[ormin79]

Yep i confirm, Huobi, and from my expierience OKex too (after XEM trading started there i had not any possibility to widhtraw XEMs - support was like in poloniex in this case, and must use LTC instead in this way XEM>USDT>LTC transfer to Bittrex and on Bittrex LTC>BTC>XEM, it was painful work to do as XEMUSDT market on OKex was very thin. Thankfully i used my technical anylysis skills to reduce costs. I dont trade now on these chinese exchanges, and dont even dare to trust another one from there, for even a small trading activity. I think - until dedicated exchange for XEM will start to work - the best place is Zaif and on the second place Bittrex, but of course even there Your money/XEMs should not sit longer than few hours.

And by the way about hacker, who have stolen XEMs. This motherf....r probably dont know (or had not thinked about it), that after catapult there will be new blockchain (i dont know how devs will resolve this problem, maybe some snapshot or something like that) and his stolen XEMs will be after that probably returned to the owner (i can imagine that solution, maybe should be even voted by the community too). Shame that there is so much time to wait for catapult. I hope that catapult will be released as fast as possible, and this drama with stolen XEMs will be resolved finally with paying not even a cent for the thief.

[Neversettle]

At this point a crop of ICOs taking XEM is not necessarily good news. The XEM market is far too thin to support more than a handful. If it ever got to ETH's ICO mania you'd better pray for 50x the volume or the entire thing would be squashed flatter than a micron.

If we had a pile of ICO's it would in turn cause volume to rise as more people buy XEM to participate in ICO's.

Not that im a big fan of ICO's largely we have avoided alot, but more are starting to move over to NEM.

I actually love to see projects switching to NEM. I think the wallet rework is the right step to make NEM even more accessible for the broad mass

[Niveus]

NEM actively engaged in the conquest of the Russian-speaking market. They opened the site in russian and created a community in the largest social network of Eastern Europe - VK.

We expect a new flow of investment in NEM 

[seven.71]

do know what happened to huge amount stolen from coincheck xem? are the stolen coin addresses available? Have the coins already been dropped on exchanges?

All funds are traceable and NEM foundation is marking all accounts with the stolen funds.
only about 1100 XEM has been moved around AFAIK, and no XEM has been moved to any exchanges yet.

I think the thieves will have a very difficult time cashing out. Five percent of the entire NEM supply has been effectively taken out of circulation. I mean, it can technically "circulate," but it's tainted.

My guess is the exchange and hacker will reach some kind of settlement with regards to this stolen NEM. Seems like an impasse at the moment, but perhaps there are talks going on that aren't public already.

If this would happen the exchange would become liable of complicity in the theft and guilty of money laundering. I think both the team AND police should continuosly track the stolen NEM and be ready to intervene as soon as some owner of wallet where the coin move can be identified.

That's not how complicity works mate. If it isn't an inside job, it makes sense to try and negotiate something, since it reduces cost and risk to both the parties. What police would track this internationally over the internet? You do realize that the hacker doesn't have to be in the same jurisdiction as the exchange right?

I am pessimistic that this theft case may be revealed, perhaps if the suspect comes from an insider working in their bureau can be revealed, but if they come from outsiders it is very unlikely to reveal this case
some market do disable XEM wallet but until when they do it???

[winchancer]

This another altcoin with such a hacking mess I bet it is afffecting Bitcoin's price as well.
Why don't you make a favour to humanity and create a fork like once Ethereum did when it was hacked...

[NorrisK]

This another altcoin with such a hacking mess I bet it is afffecting Bitcoin's price as well.
Why don't you make a favour to humanity and create a fork like once Ethereum did when it was hacked...

Because forking goes against all that crypto stands for...

Besides, it was a very avoidable mess up by an exchange. They should not be getting a get out of jail free card for being stupid..

It would be in everyones best interest though if the hacker made a deal with the exchange and returns the coins for a ransom.

[sxafir]

One hacker is in jail ,pursuite and jail this one.