Mintpal hacked (VeriCoin)

[sparc0]

Please read the entirety of this post.

A few hours ago we were unfortunately the subject of a successful attack against the exchange. Our investigations have shown that whilst our security was breached, VeriCoin was the target. We would like to stress that VeriCoin and the VeriCoin network has not been in any way compromised. We have worked to secure the exchange and the withdraw process from any further attack.

As it stands at the moment the following applies:

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

2) We are currently processing withdrawals for all other coins.

As I'm sure you will appreciate, our support channels will most likely be very busy over the coming hours/days so please bear with us.

We would like to personally extend our thanks to the VeriCoin developers and the other exchanges who have pulled out all of the stops to ensure that your VRC funds are safe.

https://support.mintpal.com/index.php?module=announce&sec=view&id=17

[baby222]

Scared me 

[haploid23]

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

[samson]

As the exchange was hacked I have to assume that nothing on Mintpal is safe right now

Does that sound about right ?

[sparc0]

As the exchange was hacked I have to assume that nothing on Mintpal is safe right now

Does that sound about right ?

Maybe affects only VRC (theft of their hot wallet privkey ?)

[yourstruly]

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

Proves that VRC is completely centralized crypto.

[TTM]

As the exchange was hacked I have to assume that nothing on Mintpal is safe right now

Does that sound about right ?

Maybe affects only VRC (theft of their hot wallet privkey ?)

Sounds true. I've heard exchanges operate each coin's wallet in a separate server and it would be only the server containing VRC wallet got compromised. If hacker was able to compromise all wallets, he would take Bitcoin only, why would he take a random shitcoin?

Did the attacker sold all the VRC right away and withdraw BTC? Or did he just send VRC to his own wallet?

[buy4crypto]

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

Proves that VRC is completely centralized crypto.

Proves you are a troll.

IT WAS AN EXCAHNGE ISSUE,  

Such a troll, BC will have the same issue, as it did in the past. Did the other communities help you or troll you like you do?
So awesome of you, such a COMMUNITY oriented person

For the good of crypto you do everything right?

What a Joke.

[buy4crypto]

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

Proves that VRC is completely centralized crypto.

I got an idea, when your coin isn't as good, attack the ones that are better, instead of focusing on the lack of investor demand for BC, why? Because your community is full of people like yourstrully, What a stain.

[tylerderden]

just goes to show that there are jealous little bitches that are upset that their shitcoin didn't come up with something to make it not a shitcoin anymore. That's ok though, it's allgood because once the truth is revealed i don't think anybody is going to do anything but dump the shitcoin of the losers that would go to such lengths to prove a point.

[blade87]

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

Proves that VRC is completely centralized crypto.

Proves you are a troll.

IT WAS AN EXCAHNGE ISSUE,  

Such a troll, BC will have the same issue, as it did in the past. Did the other communities help you or troll you like you do?
So awesome of you, such a COMMUNITY oriented person

For the good of crypto you do everything right?

What a Joke.

What VRC is doing sets a terrible precedent. In fact, it is to the point where crypto loses its purpose. So not only are all of VRC's services centralized, but the coin supply and now entire blockchain is controlled by a central authority. It is no different than the real world.

You think the VRC whales care about the small holders? Between MP and the whales, this a $1.5-2 million loss without rollback. That would mean MP goes down and the whales go broke (actually, just the VRC whales go broke because MP can continue onward without much loss if they point blame to VRC, but I'm sure they'd receive some death threats from VRC whales even if it were VRC's fault). So again, do the whales care about the small holder. Big LOL if you think they do. If this coin wasn't so centralized in every way possible (including coin supply itself) this would not have happened.

But do go ahead and continue to support, since you, as a larger holder, have no choice but to. But you knew what you were getting into all along anyway so I won't say I feel sorry for you. I just hope your actions, along with a few others, do not "change the rules of crypto." Too bad Mt. Gox couldn't have had the same done right?

But do try and refute this. I look forward to the response. And feel free to call me a BC troll while I own BC, BTC, DOGE, DRK, LTC, NXT, PPC, PTS, VTC, XMR, and XC.

[gustav]

mintpal doesn't give info what the "attack" exactly was. How were funds stolen? Their hotwallet? A 51%-attack/doublespent? We don't get that info. All we know is: mintpal claims to have been "attacked" and there will be a rollback.
If the story of the attack is true or not or what exactly happend: we don't know.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

+1

just their hotwallet hacked doesn't justify a rollback. They should eat that bill and care about security. An attack on the coin itself? Where is the info? I am not satisfied with the info we are getting here!

[commandrix]

I just saw this too. Looked to me like, as far as they know, only VeriCoin has been affected but they're still going through things to be sure. Maybe they'll post updates when they have more.

[EtherCoin]

Anyway, gentlemen... Not everybody would be able to perform such an attack, and other coins could have been targeted (sayings that BTC and LTC also got affected are around), so if such a skilled perpetrators chose VRC there are only two choices, either they felt their investments in other coins was threatened by VRC or to cause severe panic and buy on dumps.

It is quite clear what both of those situations mean, every one should get their own conclusion.

Eth.

[mr_random]

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

Proves that VRC is completely centralized crypto.

Proves you are a troll.

IT WAS AN EXCAHNGE ISSUE,  

Such a troll, BC will have the same issue, as it did in the past. Did the other communities help you or troll you like you do?
So awesome of you, such a COMMUNITY oriented person

For the good of crypto you do everything right?

What a Joke.

BC never hard forked to arbitrarily undo a "dirty" transaction. The stolen BC were gone. Big difference.

[DubFX]

Scared me 

That works only on win 95/98 no?

[Spoetnik]

just goes to show that there are jealous little bitches that are upset that their shitcoin didn't come up with something to make it not a shitcoin anymore. That's ok though, it's allgood because once the truth is revealed i don't think anybody is going to do anything but dump the shitcoin of the losers that would go to such lengths to prove a point.

adding centralization and BTC support is terribly innovative lol

vrc lowered the bar ..and took a step in reverse

[Spoetnik]

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

agreed and this reminds me of the BTER / NXT hack other day and the JPC / Allcrypt hack the other month.

on one hand i think we gotta play by the rules.. bear with me on this lol

Ok so we have a lawless market right ?
Then in all fairness it's to the exchanges to run their business how they see fit period.
BUT
I don't like what these guys are doing..
I myself think if they stole the coins then oh well they are stolen and that is the end of it.
Hard forking a coin or other dumb measures is undermining Crypto bit by bit.

a lot of negative precedents are being set more frequently and unless Regulation is put in place and fast i am getting out of this shit scam pit of bullshit scene.

edit:
This shit is getting out of hand..
It also reminds me of Cryptsy getting hacked for Points couple weeks back..
A guy exploited the exchange and dumped Cryptsy "Points" down to about 4 sat's
The exchange rolled it back but guys got fucked over because they sold other coins to buy up cheap points..
so Cryptsy rolled back the changes on points leaving anyone that dumped their coins earlier kinda fucked over.. as i was told by users who did this.
AND the guy who hacked it popped up after a week and i had a little chat with him and turns out he robbed the place for a bit more than 89k usd after cashing out.
He was laughing his ass off asking me directly what he should spend it on.

[Benefactor]

Just in my humble opinion.

I've been concerned about 'the evil people' coming into crypto for a long time.  Not independent traders and investors, but the global cabal, NSA, CIA, AND ESPECIALLY THEIR CONTRACTED MINIONS.

I have a concern this Mintpal thing, especially as it is strange which crypto(s) were targeted, is a beta test for a larger (series!) of events planned for BTC.  There is some Italian phrase 'if it goes, it goes.'  Like that.

While on one hand, I'm surprised this fork hasn't been used before to solve purported theft issues, as a viable solution to that particular problem, it does create all kinds of other problems, like what about people who made irreversible payments to legitimate payees after the event?  It's B.S.

(I must state, too, that I don't know enough about cryptos for this particular opinion to carry much weight, necessarily.)

Nevertheless, I tend to be a 'seer', and spot trends long before they fully manifest.  Just (IMHO) be on the lookout for any false flags on BTC, itself, after this event, because it stinks to high heaven.  Mintpal has been great heretofore, but from the beginning, I'm sorry, but I always suspect anything out of "London" for being ULTIMATELY shady, especially as 'they' are talented at dressing up pigs real nice like.

Antonopolis bailing because the door of transparency is closing is a huge RED FLAG, as I see it.

Whatever happens, everyone should work together, and think about what's really important.  Tread carefully, please.

[cryptozim]

1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

Exactly. CasinoCoin had an issue with an exchange being on the wrong fork. ~1.3million coins were improperly traded, so the exchange asked the devs to reimburse them. The community voted it down, because we didn't want to set that precedent.