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Author Topic: Instawallet.org - Did they just get hacked? [Resolved: no]  (Read 2052 times)
mroth7684
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May 18, 2012, 03:20:44 PM
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So I started using Instawallet.org and I had a few wallets with 20-30 bitcoins in them each. This morning I went to transfer bitcoins from one of the wallets and it said "Sorry but something went wrong" and the amount I tried to send vanished from my wallet. The same thing just happened when I checked one of the other wallets I was using with them.

Upon investigating with blockchain.info it's showing that an hour after I deposited 32 bitcoins into instawallet.org they were split up and transfered to multiple other addresses. Following the trail the coins were split and forwarded to different addresses about 4 times.

On the second wallet that this happened on it shows I deposited 27.14 bitcoins and an hour later 499.997 bitcoins were transfered from that address to another address. My wallet only had 27.14 bitcoins in it so I'm not sure how 499.997 was sent out of it...

Can anyone explain what's going on? Am I just reading blockchain.info incorrectly? Is the error and vanishing bitcoins just a fluke in the code and doesn't mean the wallets were hacked? Or did my wallets get hacked?
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teflone
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May 18, 2012, 04:39:28 PM
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Cant say anything about instawallet, but you are reading the blockchain wrong..

There is a lot of behind the scenes movements at sites like that..or at least they look like movements..


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Stephen Gornick
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May 18, 2012, 05:32:26 PM
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Upon investigating with blockchain.info it's showing that an hour after I deposited 32 bitcoins into instawallet.org they were split up and transfered to multiple other addresses.

InstaWallet is a shared (hosted) EWallet.  The address you are given is simply a receiving address in InstaWallet's wallet.dat.  Those coins will move and be sent out for transactions from other InstaWallet users, all whom share the wallet database with you.

InstaWallet keeps track of accounts and will show you your balance.

mroth7684
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May 18, 2012, 05:46:19 PM
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hopefully that's the case. My wallets still show missing coins and they didn't arrive at the destination address either. Maybe the site deducted it from my account when it got the error and didn't send the coins. I e-mailed support earlier but haven't gotten a response yet.
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May 18, 2012, 06:24:40 PM
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hopefully that's the case. My wallets still show missing coins and they didn't arrive at the destination address either. Maybe the site deducted it from my account when it got the error and didn't send the coins. I e-mailed support earlier but haven't gotten a response yet.
That is exactly what happened, sorry about that.
The error happened because there weren't enough hot-wallet funds to perform your withdrawal.

The hot wallet has been topped-up.

mroth7684
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May 18, 2012, 06:29:25 PM
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well that's good news, I see my wallets are showing the proper balances now.
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May 18, 2012, 06:33:05 PM
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Care to edit your OP title to not needlessly cause FUD?

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