bter hacked and lost 50m nxt

[rugrats]

Question 1: Has anyone verified, or rather, is anyone capable of verifying that the theft really happened? Or is the NXT community going to take BTER's word for it?

Question 2: After the Vericoin Mintpal-fork incident, will Nxt become the next coin to set aside their principles and perform a rollback in the interest of expediency?


Edit:
Question 3: Will this henceforth set a precedent for every other exchange theft, legitimate or otherwise, in cryptoland?

[1715165106]

1715165106

[bitfromit]

NO ROLLBACK

[Mt. Gox]

Question 1: Has anyone verified, or rather, is anyone capable of verifying that the theft really happened? Or is the NXT community going to take BTER's word for it?

The theft is recorded on the blockchain:

http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1244396688755618309

You can see the 50 million get transferred and the messages that he sent from his account.

[rugrats]

Question 1: Has anyone verified, or rather, is anyone capable of verifying that the theft really happened? Or is the NXT community going to take BTER's word for it?

The theft is recorded on the blockchain:

http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1244396688755618309

You can see the 50 million get transferred and the messages that he sent from his account.

You can see the transfer, but you don't know the reason for said transfer.
Of course, the most likely reason is theft.
However, there could also be other reasons. I feel communities should not blindly take the word of exchanges.


Edit: I just learned that the alleged thief posted a ransom note on the blockchain.

We can trade these NXT for some bitcoins to make life easier for you, and me.
Hypothetically speaking, who would know if an exchange was behind something like this in the first place?

[Viper1]

You can watch the "negotiations" here:

https://nxtblocks.info/#section/blockexplorer_messages

[TheWhale]

BTER: Pay the hacker 100 BTC

It is your fault for not having 2fa enabled and you will be paying ~$1.7 million worth of Nxt in compensation. Not to mention what this would do to Nxt's publicity.

[rugrats]

You can watch the "negotiations" here:

https://nxtblocks.info/#section/blockexplorer_messages

It's a sad day in the cryptoland to see the fourth biggest coin reduced to a hostage negotiation.

[instacalm]

Hypothetically speaking, who would know if an exchange was behind something like this in the first place?

This is a very good point -- one can't actually. An exchange could pull this show off. However, this would not be in the economic interest of an exchange as it would tarnish its image significantly.

[newuser01]

You can watch the "negotiations" here:

https://nxtblocks.info/#section/blockexplorer_messages

It's a sad day in the cryptoland to see the fourth biggest coin reduced to a hostage negotiation.

it's hilarious

it shows how centralized PoS coins really are and how shitty security exchanges can have even though they have lots of volume

[Este Nuno]

Now we will see if NXT is decentralized or not


rollback = centralized

Not really. It takes all the decentralised nodes to agree and form a consensus.

That's like calling Bitcoin centralised every time they upgrade the software.

[newuser01]

Now we will see if NXT is decentralized or not


rollback = centralized

Not really. It takes all the decentralised nodes to agree and form a consensus.

That's like calling Bitcoin centralised every time they upgrade the software.

haha what?

When bitcoin upgrades the software there is no rollback

Do you not see the difference?

[Bizmark13]

Good news.

Seems like the hacker has agreed to return the stolen Nxt in exchange for 100 BTC. There will probably be no rollback. This way, everyone wins. Bter gets to stay in business, the hacker makes a tidy profit, and the Nxt community gets their stolen coins back. It will be done in parts, so Bter sends 10 BTC first, after which the hacker sends 5 million NXT, then Bter sends another 10 BTC, etc. and so on.

Latest message:

BTER: considering all our users and the NXT community, we will cover all the users' loss and we will take your 100 BTC offer. 1+9 BTC has already sent to you. Now send NXT back to NXT-R3V3-2S79-F3ZM-BVXKZ ( 11513376607016028001)

Link: https://nxtblocks.info/#section/txid/1998773042441769982

Edit: Fixed the link. Thanks rugrats.

Edit 2: Looks like the first payment is already in: https://nxtblocks.info/#section/txid/6198094150510358833

[rugrats]

Good news.

Seems like the hacker has agreed to return the stolen Nxt in exchange for 100 BTC. There will probably be no rollback. This way, everyone wins. Bter gets to stay in business, the hacker makes a tidy profit, and the Nxt community gets their stolen coins back. It will be done in parts, so Bter sends 10 BTC first, after which the hacker sends 5 million NXT, then Bter sends another 10 BTC, etc. and so on.

Latest message:

BTER: considering all our users and the NXT community, we will cover all the users' loss and we will take your 100 BTC offer. 1+9 BTC has already sent to you. Now send NXT back to NXT-R3V3-2S79-F3ZM-BVXKZ ( 11513376607016028001)

Link: http://www.mynxt.info/blockexplorer/details.php?action=tx&tx=1998773042441769982

Link: https://nxtblocks.info/#section/txid/1998773042441769982

[rugrats]

Thief: This is taking too long. I dont have all night.

[paduser]

How will Bter pay this 100 BTC?  From there earned fee?

[ChetnotAtkins]

Thief: This is taking too long. I dont have all night.

... only in bitcoin land
Geez, this guy has other exchanges to rob. Don't waste his precious time.

[fast2fix]

this is really a bad news for nxt supporters 

[rugrats]

No deal. The polite thief/hacker is gone.

Thief
So, what taking so long? Send me the next batch already. I'm going to leave soon. It's already 2 hours of negotiation, it took me 1 hour to clean your whole exchanger. BTC 500+ I'm not going to sit here, and wait 2 more hours for you to decide to send the lousy 10 BTC.

Thief
Deal is off. Good night.

[newuser01]

Deal is off. Good night.

[Este Nuno]

Now we will see if NXT is decentralized or not


rollback = centralized

Not really. It takes all the decentralised nodes to agree and form a consensus.

That's like calling Bitcoin centralised every time they upgrade the software.

haha what?

When bitcoin upgrades the software there is no rollback

Do you not see the difference?

How is x amount of individuals separate from each other centralised?

When Bitcoin upgrades the software or has a hard fork the miners and the nodes need to agree on using and mining on a new chain(in the case of a hard fork).

It's a decentalised consensus either way.

That's the whole point of decentalisation. That it takes the majority to make changes.

I'm not saying that I necessarily support the forgers choosing to roll back or not though. But it clearly isn't a centralised decision.