BitStamp - hacked and down

[podyx]

I posted on here almost a year ago that bitstamp was just a government honeypot and that it was only a matter a time before they ran off with people's coins.

Like 99% of the time - I was right.

 

[seriouscoin]

They just changed the servers.

You are wrong. They changed their hot wallet to use multi-sig. Everyone withdrawing can see this and it has already been reported multiple times.

The bug was/IS in their platform. It doesn't matter how many signatures they are using.

Wow , you're dumb as a rock arent you?

Always assume your platform is compromised. What matters is what data can be stolen....., meaningless data? Mutisig wallet would allow them using a third device to sign tx.

You are smart, I admit that. Please do not read further.

If you think that the users details(passports, user accounts, utility bills, addresses, bank accounts) are meaningless data, it ok. You are the smart one and you know better.

Keep proving everyone that you're the dumbest of all here?

What makes you think such data is stored online? Yes you can submit those data online, it does not mean they will be stored online once they're processed. You got dumber everytime you post dont you?

[picolo]

They just changed the servers.

You are wrong. They changed their hot wallet to use multi-sig. Everyone withdrawing can see this and it has already been reported multiple times.

The bug was/IS in their platform. It doesn't matter how many signatures they are using.

Wow , you're dumb as a rock arent you?

Always assume your platform is compromised. What matters is what data can be stolen....., meaningless data? Mutisig wallet would allow them using a third device to sign tx.

You are smart, I admit that. Please do not read further.

If you think that the users details(passports, user accounts, utility bills, addresses, bank accounts) are meaningless data, it ok. You are the smart one and you know better.

Keep proving everyone that you're the dumbest of all here?

What makes you think such data is stored online? Yes you can submit those data online, it does not mean they will be stored online once they're processed. You got dumber everytime you post dont you?

You are right but they never said it was stored offline either.

[mayax]

They just changed the servers.

You are wrong. They changed their hot wallet to use multi-sig. Everyone withdrawing can see this and it has already been reported multiple times.

The bug was/IS in their platform. It doesn't matter how many signatures they are using.

Wow , you're dumb as a rock arent you?

Always assume your platform is compromised. What matters is what data can be stolen....., meaningless data? Mutisig wallet would allow them using a third device to sign tx.

You are smart, I admit that. Please do not read further.

If you think that the users details(passports, user accounts, utility bills, addresses, bank accounts) are meaningless data, it ok. You are the smart one and you know better.

Keep proving everyone that you're the dumbest of all here?

What makes you think such data is stored online? Yes you can submit those data online, it does not mean they will be stored online once they're processed. You got dumber everytime you post dont you?

Please try to learn a little bit about how the data bases are working. Your language shows that you have a "Bronx" school....but you still have to time to do it, grandpa....

Bitstamp has databases which are online. Each of their clients has an account which contains name, address, email, bank account, etc....so, everything MUST be online otherwise you won't be able to login. These data bases were compromised too, so all the Bitstamp's clients must be worried about their personal details.

I am sure that you won't understand what i am saying, so I will give you some examples to learn from them.

It is not a shame to do it. It is a "shame" to poses as a smart guy when you are not ...

http://www.tomsguide.com/us/biggest-data-breaches,news-19083.html

When a "financial" website is hacked, ALL the details are compromised. The hacker stole the Bitstamp' funds for now because this was his main target BUT he had access to ALL the Bitstamp databases.

[SirChiko]

And it's back up + they have covered all the loss on user sides just like i thought

[mayax]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

[SirChiko]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

What are you talking about? They stole hot wallet funds nothing more afaik.

[mayax]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

What are you talking about? They stole hot wallet funds nothing more afaik.

how did they stole the "hot wallet" funds? did they guess the password?

[SirChiko]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

What are you talking about? They stole hot wallet funds nothing more afaik.

how did they stole the "hot wallet" funds? did they guess the password?

And for what would they need customer infos when they got away with 19k coins? lol

[mayax]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

What are you talking about? They stole hot wallet funds nothing more afaik.

how did they stole the "hot wallet" funds? did they guess the password?

And for what would they need customer infos when they got away with 19k coins? lol

for getting more funds, of course..and they will.
The peoples are greedy and also they want to make more if they are more than 5-6 hackers. The girls are expensive these days

Also, a Mercedes S class is 120K + a nice house is over 500K + other expenses...and you will see that the funds will not be enough to live )

[picolo]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

What are you talking about? They stole hot wallet funds nothing more afaik.

how did they stole the "hot wallet" funds? did they guess the password?

I don't think Bitstamp will explain exactly how they did it. Maybe a combination of malware, inside informations and weak procedures.
The potential amount to steal is so big they could have invest money to get a chance to steal by buying up informations or coming to the bitstamp offices to steal the money.

[mayax]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

What are you talking about? They stole hot wallet funds nothing more afaik.

how did they stole the "hot wallet" funds? did they guess the password?

I don't think Bitstamp will explain exactly how they did it. Maybe a combination of malware, inside informations and weak procedures.
The potential amount to steal is so big they could have invest money to get a chance to steal by buying up informations or coming to the bitstamp offices to steal the money.

agree with you.
malware = access to all the information including customer's details.

Their clients will receive a direct impact very soon. they have to change their passwords for emails, Bitstamp account, Bitcoin, etc.
Too bad they cannot change their passports, utility bills, bank accounts. Identity theft was the most prevalent problem plaguing consumers in 2014.

[SirChiko]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

What are you talking about? They stole hot wallet funds nothing more afaik.

how did they stole the "hot wallet" funds? did they guess the password?

I don't think Bitstamp will explain exactly how they did it. Maybe a combination of malware, inside informations and weak procedures.
The potential amount to steal is so big they could have invest money to get a chance to steal by buying up informations or coming to the bitstamp offices to steal the money.

agree with you.
malware = access to all the information including customer's details.

Their clients will receive a direct impact very soon. they have to change their passwords for emails, Bitstamp account, Bitcoin, etc.
Too bad they cannot change their passports, utility bills, bank accounts. Identity theft was the most prevalent problem plaguing consumers in 2014.

Well, sooner or later we will see, i personaly belive the person was so excited they took the coins and ran.
Also i don't think it was malware, well who knows.

[mayax]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

What are you talking about? They stole hot wallet funds nothing more afaik.

how did they stole the "hot wallet" funds? did they guess the password?

I don't think Bitstamp will explain exactly how they did it. Maybe a combination of malware, inside informations and weak procedures.
The potential amount to steal is so big they could have invest money to get a chance to steal by buying up informations or coming to the bitstamp offices to steal the money.

agree with you.
malware = access to all the information including customer's details.

Their clients will receive a direct impact very soon. they have to change their passwords for emails, Bitstamp account, Bitcoin, etc.
Too bad they cannot change their passports, utility bills, bank accounts. Identity theft was the most prevalent problem plaguing consumers in 2014.

Well, sooner or later we will see, i personaly belive the person was so excited they took the coins and ran.
Also i don't think it was malware, well who knows.

These persons are not SO excited. It's their "job"

Of course, 5 MIL is a VERY high amount but if there is more than 3-4 persons they will want more

[SirChiko]

And it's back up + they have covered all the loss on user sides just like i thought

it is not about back up. it is about that the hacker stole ALL the information stored on Bitstamp's server.

well, maybe you don't care about your personal information(you should because it is about your life, money) but there are many others who do....

What are you talking about? They stole hot wallet funds nothing more afaik.

how did they stole the "hot wallet" funds? did they guess the password?

I don't think Bitstamp will explain exactly how they did it. Maybe a combination of malware, inside informations and weak procedures.
The potential amount to steal is so big they could have invest money to get a chance to steal by buying up informations or coming to the bitstamp offices to steal the money.

agree with you.
malware = access to all the information including customer's details.

Their clients will receive a direct impact very soon. they have to change their passwords for emails, Bitstamp account, Bitcoin, etc.
Too bad they cannot change their passports, utility bills, bank accounts. Identity theft was the most prevalent problem plaguing consumers in 2014.

Well, sooner or later we will see, i personaly belive the person was so excited they took the coins and ran.
Also i don't think it was malware, well who knows.

These persons are not SO excited. It's their "job"

Of course, 5 MIL is a VERY high amount but if there is more than 3-4 persons they will want more

I doubt it was more than 1 person, wich hacker cooperates with others lol, makes the risk higher.

[btc-facebook]

And it's back up + they have covered all the loss on user sides just like i thought

They provide free fee trading for a few time

They will be more serious this time to make more competent exchanger

[Pustul]

They have just confirmed my fiat withdrawal, I'll report back once I have the money on my bank account

[mayax]

They have just confirmed my fiat withdrawal, I'll report back once I have the money on my bank account

Be happy for that

keep your money in bank and do not buy soon. the price will fall under 190 USD soon.

[Bizmark13]

...And that's why the exchangers are having very, very low fees of 0.2% for trading or free for withdrawals. They do not care about these money. The REAL money are made with the Bitcoin price. How can financial company exists with 0.2% per transaction?

Super tight spreads aren't uncommon in forex trading where fierce competition between retail FX participants is the norm. Also, compared to traditional financial companies, overall transaction costs are probably lower as it only costs a couple of cents to send/receive any amount of BTC to/from anywhere in the world in minutes. So with the lower fees, lower overhead costs, and lack of middlemen, I think it would be possible for an exchange to make a profit by just trading and withdrawal fees alone.

Even when Mt. Gox had 800,000 BTC (worth almost $1 billion in late 2013), it was still a pretty small-sized company. Their expenses probably weren't that much compared to more traditional financial companies that deal with similar amounts of money. Scottrade has 4,000 employees and GAIN has about 400. A Bitcoin exchange would have, what? 5? 10? Maybe 20 tops?

[mayax]

...And that's why the exchangers are having very, very low fees of 0.2% for trading or free for withdrawals. They do not care about these money. The REAL money are made with the Bitcoin price. How can financial company exists with 0.2% per transaction?

Super tight spreads aren't uncommon in forex trading where fierce competition between retail FX participants is the norm. Also, compared to traditional financial companies, overall transaction costs are probably lower as it only costs a couple of cents to send/receive any amount of BTC to/from anywhere in the world in minutes. So with the lower fees, lower overhead costs, and lack of middlemen, I think it would be possible for an exchange to make a profit by just trading and withdrawal fees alone.

Even when Mt. Gox had 800,000 BTC (worth almost $1 billion in late 2013), it was still a pretty small-sized company. Their expenses probably weren't that much compared to more traditional financial companies that deal with similar amounts of money. Scottrade has 4,000 employees and GAIN has about 400. A Bitcoin exchange would have, what? 5? 10? Maybe 20 tops?

The forex market is HUGE. A LOT of people are playing in it(including BIG banks). You cannot compare Bitcoin market with 1 MIL users with the forex market.

MT Gox had ONE full time employee and 3-4 part time contractors(for customer support-tickets). Try to not believe everything these guys are trying to show "you". They are small companies not corporations.

It's not something bad to be a small company. It's absolutely normal to have a small and cosy office when you run an exchanger... but these people wants bling-bling. They want to be like Trump or Zuckerberg overnight  

The bad thing is when you want to be what they are not...


You said "Mt. Gox had 800,000 BTC (worth almost $1 billion)". Let's say you have this Bitcoin. Who is will give you the money if you would have 1 billion worth of Bitcoin? Coinbase? Bitstamp, BTC-China?

Yes, nobody. because they do not have these money. But if you want to withdraw a billion from a real forex company, you will get it ASAP.