Cassie.Jill
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Activity: 83
Merit: 10
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January 06, 2015, 03:16:45 AM |
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what happened with bitstamp?
MtGox II  ? wish it is not. but if bitstamp were gone, are there any single bitcoin exchanges? the future will be the world of altcoin exchange and leverage casino. Lakebtc.com is also a exchange which only support bitcoin and no leverage For bitstamp, we don't need to worry about, since bitstamp issued a notice, this thing is definitely that mend the fold after few sheep have been stolen okay, lakebtc is an alternative but 12 hours later, bitstamp still suspend, I worried about how long it would last? just like hgmichna said: … BitStamp can cover the loss. they made millions as profit from their clients so they can cover almost any loss … Funny, people said exactly that about Mt. Gox, less than a year ago. How long shall we need to wait for it? were it back, right? coindesk sat bitstamp loss 18,000BTCbitstamp say theymself loss less than 19,000BTC thus, bitstamp's loss at least 18,000 BTC, if $280 per BTC, nearly $5,000,000 of shortfall, bitstamp say they can afford to loss... ok, you ask me how long? please review the case of mtgox which began in August 2013 and end in February 2014 |
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Inotanewbie
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January 06, 2015, 03:17:42 AM |
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Isn't that just the cold wallet address that they moved all their deposits to. I don't think anybody stole 18,000 coins from Bitstamp. It is speculated that is the address that bitstamp's hot wallet (or a portion of their hot wallet)'s coins were sent to. Blockchain.info has labeled the address as such as well. In theory bitstamp could have noticed some kind of problem and quickly started to transfer all the coins into that address. Whoever was sending funds was sometimes including ridiculously high transaction fees which would be unlike what you would expect them to do, however the high fees could potentially be a result of a panicked technician who was trying to create as many transactions as quickly as possible to get the coins out of their hot wallet edit: per the bitstamp website 19k bitcoin was in fact stolen from their hot wallet |
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Nrcewker
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January 06, 2015, 05:03:30 AM |
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what happened with bitstamp?
MtGox II ? wish it is not. but if bitstamp were gone, are there any single bitcoin exchanges? the future will be the world of altcoin exchange and leverage casino. Lakebtc.com is also a exchange which only support bitcoin and no leverage For bitstamp, we don't need to worry about, since bitstamp issued a notice, this thing is definitely that mend the fold after few sheep have been stolen  via Imgflip Meme Makerlakebtc could be the last bitcoin exchange in the sense, maybe there won't be any exchanges which only single trading for bitcoin in the future. |
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zetaray
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January 06, 2015, 05:07:51 AM |
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This is not the first exchange to loose funds, and certainly not the last. Exchanges are not a safe place to leave your coins.
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N12
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Activity: 1610
Merit: 1010
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January 06, 2015, 09:36:41 AM |
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New message from Bitstamp now up on their web site, but it does not significantly differ from the first one. They now admit to the loss of "less than 19,000 BTC". they claim they can cover the losses in full... Yet they post no proof they have that much in reserves to do so. Just more words. Reminds me of gox. They haven't proved they control a single satoshi yet. |
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picolo
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January 06, 2015, 10:58:43 AM |
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New message from Bitstamp now up on their web site, but it does not significantly differ from the first one. They now admit to the loss of "less than 19,000 BTC". they claim they can cover the losses in full... Yet they post no proof they have that much in reserves to do so. Just more words. Reminds me of gox. They haven't proved they control a single satoshi yet. I am looking for this information. We don't know the cold wallet addresses so 19,000 BTC may have been a huge portion of the bitcoins they hold if they had fractional bitcoins reserves and less valye than what is deposited in the bitstamp accounts. |
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picolo
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January 06, 2015, 11:02:24 AM |
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New message from Bitstamp now up on their web site, but it does not significantly differ from the first one. They now admit to the loss of "less than 19,000 BTC". they claim they can cover the losses in full... Yet they post no proof they have that much in reserves to do so. Just more words. Reminds me of gox. They could have lost most their BTC but they want to keep operations to hopefully recover from it. We don't know!! |
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erre
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Activity: 1666
Merit: 1205
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January 06, 2015, 11:07:02 AM |
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Proof of solvency  They know it, why they simply don't post it? |
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(Lithium)
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January 06, 2015, 01:18:23 PM |
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Proof of solvency They know it, why they simply don't post it? "Better don't show proof of solvency and let people wonder whether you are solvent or not than show it and make everyone be sure you are not" Plato |
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picolo
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January 06, 2015, 03:28:49 PM |
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Proof of solvency They know it, why they simply don't post it? "Better don't show proof of solvency and let people wonder whether you are solvent or not than show it and make everyone be sure you are not" Plato It is better not to show if you are not solvent or do some shady and not precise accounting. The only good explanation of not showing would be not to give away how their security is organized because if you show everything is in a single cold storage wallet, you have gave away an information. New message from Bitstamp now up on their web site, but it does not significantly differ from the first one. They now admit to the loss of "less than 19,000 BTC". they claim they can cover the losses in full... Yet they post no proof they have that much in reserves to do so. Just more words. Reminds me of gox. They haven't proved they control a single satoshi yet. We know they used to have enough BTC to allow all withdrawals that were taken place. Which means they had at least a small portion of the BTC they are supposed to have. |
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hgmichna
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January 06, 2015, 05:14:45 PM |
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In the Middle Ages people got tarred and feathered. Now we get goxed and stamped.
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picolo
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January 06, 2015, 05:23:54 PM |
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In the Middle Ages people got tarred and feathered. Now we get goxed and stamped.
Every corporation and everything can be compromised. |
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Nrcewker
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January 07, 2015, 08:10:20 AM |
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what happened with bitstamp?
MtGox II ? wish it is not. but if bitstamp were gone, are there any single bitcoin exchanges? the future will be the world of altcoin exchange and leverage casino. Lakebtc.com is also a exchange which only support bitcoin and no leverage For bitstamp, we don't need to worry about, since bitstamp issued a notice, this thing is definitely that mend the fold after few sheep have been stolen okay, lakebtc is an alternative but 12 hours later, bitstamp still suspend, I worried about how long it would last? just like hgmichna said: … BitStamp can cover the loss. they made millions as profit from their clients so they can cover almost any loss … Funny, people said exactly that about Mt. Gox, less than a year ago. How long shall we need to wait for it? were it back, right? coindesk sat bitstamp loss 18,000BTCbitstamp say theymself loss less than 19,000BTC thus, bitstamp's loss at least 18,000 BTC, if $280 per BTC, nearly $5,000,000 of shortfall, bitstamp say they can afford to loss... ok, you ask me how long? please review the case of mtgox which began in August 2013 and end in February 2014 hope LakeBTC don't have such problems recently |
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haploid23
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January 07, 2015, 09:49:58 AM |
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WTF is this.... I've been out for a couple days, came back to make some trades, and see their website is completely suspended. I'm getting the mtgox deja vu. I've got a hefty sum of both BTC and fiat on there  As if price haven't dipped low enough, this incident will most likely further dip the price, and I can't even move whatever BTC for fiat stuck on there... Wow man that sucks. Why would you keep a heft sum of btc and fiat on the exchange? I don't purposely store on there, but rather people that actively trade don't really have a choice. Wiring fiat takes a day or more, and depositing BTC requires 6 confirmations. I can't sit around for an hour just waiting when I need instant trades. |
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mayax
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Activity: 1456
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January 07, 2015, 10:00:35 AM |
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very good point and I agree with you...
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matt4054
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Merit: 1035
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January 07, 2015, 10:17:33 AM |
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Stashes of stolen funds are being moved to various addresses, tracking them will become harder. |
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mayax
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Activity: 1456
Merit: 1004
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January 07, 2015, 10:32:44 AM |
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Stashes of stolen funds are being moved to various addresses, tracking them will become harder. someone will cash out the funds and he will be VERY rich ) what is somehow funny is that other exchanger will fulfill the transaction. Stolen funds are processed without any problem. This is money laundering which is possible through Bitcoin. When a criminal activity(hacking in this case) generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved. Criminals do this by disguising the sources, changing the form, or moving the funds to a place where they are less likely to attract attention. it cannot happen a such thing with a real bank account even the funds are stolen somehow, you can surely recover them in a very short time. |
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picolo
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January 07, 2015, 09:57:56 PM |
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Stashes of stolen funds are being moved to various addresses, tracking them will become harder. someone will cash out the funds and he will be VERY rich ) what is somehow funny is that other exchanger will fulfill the transaction. Stolen funds are processed without any problem. This is money laundering which is possible through Bitcoin. When a criminal activity(hacking in this case) generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved. Criminals do this by disguising the sources, changing the form, or moving the funds to a place where they are less likely to attract attention. it cannot happen a such thing with a real bank account even the funds are stolen somehow, you can surely recover them in a very short time. They will need to use very smart techniques to cash out the funds but nothing too hard. If they are Bitstamp employees, they will be observed. |
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mayax
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Activity: 1456
Merit: 1004
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January 07, 2015, 11:50:15 PM |
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Stashes of stolen funds are being moved to various addresses, tracking them will become harder. someone will cash out the funds and he will be VERY rich ) what is somehow funny is that other exchanger will fulfill the transaction. Stolen funds are processed without any problem. This is money laundering which is possible through Bitcoin. When a criminal activity(hacking in this case) generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved. Criminals do this by disguising the sources, changing the form, or moving the funds to a place where they are less likely to attract attention. it cannot happen a such thing with a real bank account even the funds are stolen somehow, you can surely recover them in a very short time. They will need to use very smart techniques to cash out the funds but nothing too hard. If they are Bitstamp employees, they will be observed. really? how? they will exchange the funds to Altcoin or any other e-currency and done. they can start a new life on a tropical insland and 2-3 cheeky girls ) |
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picolo
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January 08, 2015, 12:49:45 PM |
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Stashes of stolen funds are being moved to various addresses, tracking them will become harder. someone will cash out the funds and he will be VERY rich ) what is somehow funny is that other exchanger will fulfill the transaction. Stolen funds are processed without any problem. This is money laundering which is possible through Bitcoin. When a criminal activity(hacking in this case) generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved. Criminals do this by disguising the sources, changing the form, or moving the funds to a place where they are less likely to attract attention. it cannot happen a such thing with a real bank account even the funds are stolen somehow, you can surely recover them in a very short time. They will need to use very smart techniques to cash out the funds but nothing too hard. If they are Bitstamp employees, they will be observed. really? how? they will exchange the funds to Altcoin or any other e-currency and done. they can start a new life on a tropical insland and 2-3 cheeky girls ) They need to mix the bitcoins before they send it to an alt exchange and changing 19 000 BTC in altcoins won't be done overnight, will it? I agree they will succeed to cash out or hide all 19 000 BTC. |
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