bter hacked and lost 50m nxt

[Zebedee23]

Get on https://nxtforum.org/nrs-releases/nrs-v1-2-5f/ , this is NOT a rollback all it does is freeze outgoing transactions from BTER on 15 Aug ie: the 50 million, Everyone get using NOW!!!!

edit:this is a hardfork, see jean lucs post half way down
https://nxtforum.org/news-and-announcements/forgers-have-been-faced-with-a-choice/1620/

Edit: NOT TOO LATE   NOT A ROLLBACK

[TinEye]

Is BTER solvent ? anyone has a problem withdrawing btc ?

They lost only NXT, BTC shouldn't be a problem. They did pay 100 BTC but that is small amount for them.
Their reputation has now been hurt, though.

[mr angry]

Get on https://nxtforum.org/nrs-releases/nrs-v1-2-5f/ , this is NOT a rollback all it does is freeze outgoing transactions from BTER on 15 Aug ie: the 50 million, Everyone get using NOW!!!!

edit:this is a hardfork, see jean lucs post half way down
https://nxtforum.org/news-and-announcements/forgers-have-been-faced-with-a-choice/1620/

The link below tales you straight to the relevant post.

https://nxtforum.org/index.php?topic=4444.msg84391#msg84391

[niothor]

Seems like this whole mess starts taking it's toll from nxt price.

Bter   0.00004000   -40.30%

[Spoetnik]

I am impressed that the forgers made the right choice.

I feel bad for Bter, especially considering that they helped someone from the Nxt community by freezing someones acct.

I am even more impressed that in the near future it will take 90% to make a fake ledger. I don't ever see 9 out of 10 people choosing a fake ledger unless the life of the coin was actually on the line.

So everything turned out ok for Nxt. It passed a very big test and showed the world that it is the real deal.

gotta agree this is what i wanna say too !
i hope bter is not destroyed because of this

@Jedelqu
it was BTER's fault though but NXT's rep is damaged i think in this no matter what.
but it's not fair to blame the coin when it was BTER's password problem that caused this (or so they say)

[jokumat]

I am impressed that the forgers made the right choice.

I feel bad for Bter, especially considering that they helped someone from the Nxt community by freezing someones acct.

I am even more impressed that in the near future it will take 90% to make a fake ledger. I don't ever see 9 out of 10 people choosing a fake ledger unless the life of the coin was actually on the line.

So everything turned out ok for Nxt. It passed a very big test and showed the world that it is the real deal.

Wrong. Now they are spending most time debating new possibilities how to change ledger. One developer proposed a hardfork, the other one proposed some crazy method to liberate funds with unclear owners after some time elapses. The exchange owner came back to forum and now he is pleading for a hardfork. Many people lost money in the exchange and they are enraged.

What amuses me -both devs are proposing one method of changing records after another but they are still saying - this is because of true decentralization, we have to present the choice and community is here to decide, we are neutral, we don't propose anything.

Their thread was a real eye opener for me. It's a scary reading.  In this case they want to lick the thief. But next time - it can be child porn, or terrorism, washing money, whatever. External pressures will come. There will be many people with vested interest and some noble cause. If you want to erase one or several transactions or to change pretty much anything in the ledger, hardfork is always possible.

On NXT dev said in a post something like "rollback means losing 100 anarchists but getting 10000 of average Joes onboard". This might be true. Today hardcore NXT users are winning, they want to be as good as bitcoin, but tomorrow? And this is not only nxter's problem

[Squeaker]

BTER shot itself in the foot...

They had more support for the reorg attempt, before they were negotiating with the hacker, giving him ~100 BTC (number has fluctuated, so if I'm wrong, lets just go with the 100)

I suspect that 100 BTC was also exchange funds... possibly customer wallets... (please correct me on the source of the 100 BTC if known)

and then he paid the hacker...

so, now... BTER decided to go strike out on their own making deals while we were debating on the reorg and the devs working on a patch to make it happen...

then BTER decides to again shoot themselves in the other foot, tweeting about how they don't need the reorg anymore as they had something else in the works, and ended up getting screwed again, and now comes running back wanting us to save him?

Any chance BTER has of getting enough forgers together to help BTER and its customers out with the reorg has long since passed... much of the good will he could have had, he squandered by making deals, so even if we did end up doing the reorg, the hacker still profited, and BTER still lost money, cuz of that stupid BTC transfer (with or without escrow)

At this point, I'm not inclined to support a blockchain fix, where earlier I was ok with attempting a reorg.

He made his bed by now, he needs to lie in it.

=squeak=

[Este Nuno]

I am impressed that the forgers made the right choice.

I feel bad for Bter, especially considering that they helped someone from the Nxt community by freezing someones acct.

I am even more impressed that in the near future it will take 90% to make a fake ledger. I don't ever see 9 out of 10 people choosing a fake ledger unless the life of the coin was actually on the line.

So everything turned out ok for Nxt. It passed a very big test and showed the world that it is the real deal.

gotta agree this is what i wanna say too !
i hope bter is not destroyed because of this

@Jedelqu
it was BTER's fault though but NXT's rep is damaged i think in this no matter what.
but it's not fair to blame the coin when it was BTER's password problem that caused this (or so they say)

Why do you think NXT's rep is damaged in this?

[Djinou94]

Press the rollback button please!

[mr_random]

Get on https://nxtforum.org/nrs-releases/nrs-v1-2-5f/ , this is NOT a rollback all it does is freeze outgoing transactions from BTER on 15 Aug ie: the 50 million, Everyone get using NOW!!!!

edit:this is a hardfork, see jean lucs post half way down
https://nxtforum.org/news-and-announcements/forgers-have-been-faced-with-a-choice/1620/

Edit: NOT TOO LATE   NOT A ROLLBACK

Wtf why do the NXT devs keep subtly pushing for rollback/blockchain re-write.

This is starting to piss me off.

No-one wants this shit other than people who stupidly kept their funds on the exchange.

[Benjig]

Get on https://nxtforum.org/nrs-releases/nrs-v1-2-5f/ , this is NOT a rollback all it does is freeze outgoing transactions from BTER on 15 Aug ie: the 50 million, Everyone get using NOW!!!!

edit:this is a hardfork, see jean lucs post half way down
https://nxtforum.org/news-and-announcements/forgers-have-been-faced-with-a-choice/1620/

Edit: NOT TOO LATE   NOT A ROLLBACK

Wtf why do the NXT devs keep subtly pushing for rollback/blockchain re-write.

This is starting to piss me off.

No-one wants this shit other than people who stupidly kept their funds on the exchange.

Yeah i think the same, when will users going to understand that exchanges are not wallets.. they keep leaving huge funds in exchanges for if "there is a dump or a pump" or whatever reason.

[HinnomTX]

Get on https://nxtforum.org/nrs-releases/nrs-v1-2-5f/ , this is NOT a rollback all it does is freeze outgoing transactions from BTER on 15 Aug ie: the 50 million, Everyone get using NOW!!!!

edit:this is a hardfork, see jean lucs post half way down
https://nxtforum.org/news-and-announcements/forgers-have-been-faced-with-a-choice/1620/

Edit: NOT TOO LATE   NOT A ROLLBACK

Wtf why do the NXT devs keep subtly pushing for rollback/blockchain re-write.

This is starting to piss me off.

No-one wants this shit other than people who stupidly kept their funds on the exchange.

One of the devs mentioned he lost coins at bter. So there's your answer. In my mind, the future of NXT is in doubt because contributors and developers may no longer have economic motivation to continue on the project.

[Magic8Ball]

I hope you guys do not do a rollback. Even considering the possibilty is just wrong.
If someone foolishly lost 50m, its their fault. Once you do a rollback, it will forever put a question mark on this coin. It already has a dubious beginning because of a sketchy distribution.

[mr_random]

Get on https://nxtforum.org/nrs-releases/nrs-v1-2-5f/ , this is NOT a rollback all it does is freeze outgoing transactions from BTER on 15 Aug ie: the 50 million, Everyone get using NOW!!!!

edit:this is a hardfork, see jean lucs post half way down
https://nxtforum.org/news-and-announcements/forgers-have-been-faced-with-a-choice/1620/

Edit: NOT TOO LATE   NOT A ROLLBACK

Wtf why do the NXT devs keep subtly pushing for rollback/blockchain re-write.

This is starting to piss me off.

No-one wants this shit other than people who stupidly kept their funds on the exchange.

One of the devs mentioned he lost coins at bter. So there's your answer. In my mind, the future of NXT is in doubt because contributors and developers may no longer have economic motivation to continue on the project.

Thanks for the info.

Do you know which dev? Jean Luc? Come from beyond?

[Chris001]

Get on https://nxtforum.org/nrs-releases/nrs-v1-2-5f/ , this is NOT a rollback all it does is freeze outgoing transactions from BTER on 15 Aug ie: the 50 million, Everyone get using NOW!!!!

edit:this is a hardfork, see jean lucs post half way down
https://nxtforum.org/news-and-announcements/forgers-have-been-faced-with-a-choice/1620/

Edit: NOT TOO LATE   NOT A ROLLBACK

Wtf why do the NXT devs keep subtly pushing for rollback/blockchain re-write.

This is starting to piss me off.

No-one wants this shit other than people who stupidly kept their funds on the exchange.

One of the devs mentioned he lost coins at bter. So there's your answer. In my mind, the future of NXT is in doubt because contributors and developers may no longer have economic motivation to continue on the project.

Thanks for the info.

Do you know which dev? Jean Luc? Come from beyond?

This is a classic example of FUD. If anyone ever asks you what FUD is, tell them Fear, Uncertainty, and Doubt. Then, point them to here for a perfect example.

To believe that one on the Nxt devs was dumb enough to leave all his Nxt on an exchange is suspect. To believe that enough made this mistake to actually put Nxt in jeporady because these devs would no longer have any Nxt after the hack, is pure FUD!!  

[EvilDave]

I am impressed that the forgers made the right choice.

I feel bad for Bter, especially considering that they helped someone from the Nxt community by freezing someones acct.

I am even more impressed that in the near future it will take 90% to make a fake ledger. I don't ever see 9 out of 10 people choosing a fake ledger unless the life of the coin was actually on the line.

So everything turned out ok for Nxt. It passed a very big test and showed the world that it is the real deal.

+1
Thanks.

And to everyone else:

Yeah, it's going to hurt NXT in the short term, just not fatally.
But a re-org/rollback would have hurt a lot more.....

IMHO: NXT devs did the right thing: a minority of the community (and BTER) wanted the rollback option,
and so the devs made the software available to try to push a rollback.
It's not the devs responsiblity to make a decision for the community,
and denying that minority the option to try to force a rollback would have been wrong.

Very happy that NXT made the right choice, though.
There is a plan on the table (from James/Lee) to keep BTER afloat and repaying the losses,
so if BTER accepts it, people could get their money back in the long term, over 1-3 years.

[zhinkk]

Bter just announced being hacked and lost 50m nxt. Bter now own 60% of nxt trade volume.

link

Damn, I feel bad for the nxt holders. I hope price doesn't get too bad. :/

[nikola384]

The hacker just returned 12 1/3 Million additional NXT to BTER.

[Hfleer]

Looks like this could end with a "happy" ending.

[nikola384]

The hacker just returned 12 1/3 Million additional NXT to BTER.

+ 6 Mil
...

+ 10 Mil

Which about solves it.