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Author Topic: Bold: Bitstamp Hack speculation  (Read 2065 times)
mmitech (OP)
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January 05, 2015, 08:15:06 PM
 #1

<speculation>

I would like to point to the possibility of Bitstamp losing their wallet.dat of their hot wallet server to a hacker, a wallet.dat in a daemon server is usually not encrypted, so that explains the new transaction...

source ? I was just reading Jeff Garzik tweets(a Core developer and Bitpay employee) about securing a single valuable file (wallet.dat) and how this changed the whole IT  security scene, and this made me think about this possibility.




</speculation>


I know that some of you take me as a bear troll, but at this point I am sincerely worried about the effect this can leave on Bitcoin in general.
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mmitech (OP)
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January 05, 2015, 08:37:51 PM
 #2

Besides, this explain why they told users to not send funds to their old addresses.
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January 05, 2015, 09:59:50 PM
 #3

That could be, the question now is - how stamp will resolve the situation, that would determine how market responds.

And yeah, agree with Jeff, this is an irresistible attraction to any hacker out there, so exchanges must have much better security than fiat banks do - as they are, in fact, banks which have network interfaces open to public where they send and receive money.

i am satoshi
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January 05, 2015, 10:17:52 PM
 #4

Guys, am I the only one thinking this event and the latest price fall are all subtly linked together? We've been there before. IMO, Bitstamp team has something to do with this "hack" thing. Smiley
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January 05, 2015, 10:20:36 PM
 #5

Guys, am I the only one thinking this event and the latest price fall are all subtly linked together? We've been this before. IMO, Bitstamp team has something to do with this "hack" thing. Smiley

It would make sense, maybe an employee or owner with knowledge of the hack dumping their coins before news hits?or other more obvious answers. Who knows.




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mmitech (OP)
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January 05, 2015, 11:51:59 PM
 #6

Exactly as I thought http://www.coindesk.com/bitstamp-claims-roughly-19000-btc-lost-hot-wallet-hack/
marvinrouge
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January 05, 2015, 11:55:20 PM
 #7

Guys, am I the only one thinking this event and the latest price fall are all subtly linked together? We've been this before. IMO, Bitstamp team has something to do with this "hack" thing. Smiley

It would make sense, maybe an employee or owner with knowledge of the hack dumping their coins before news hits?or other more obvious answers. Who knows.



Buy the rumor, sell the news  Cool

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orpington
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January 06, 2015, 12:09:46 AM
 #8

When large amounts of Bitcoin are missing/stolen it just adds to the "Bitcoin mystique". More mystique leads to more long-term value.

I wish I had 19000 Bitcoins... Shocked
smoothie
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January 06, 2015, 12:24:27 AM
 #9

When large amounts of Bitcoin are missing/stolen it just adds to the "Bitcoin mystique". More mystique leads to more long-term value.

I wish I had 19000 Bitcoins... Shocked

The mere fact that people are willing to steal Bitcoins gives it value.

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RealMalatesta
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January 06, 2015, 12:30:07 AM
 #10

Guys, am I the only one thinking this event and the latest price fall are all subtly linked together? We've been there before. IMO, Bitstamp team has something to do with this "hack" thing. Smiley

Wouldn't it make more sense that the hacker started to dump coins? He maybe just wanted to get rid of them and fill his pockets...
celebreze32
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January 06, 2015, 12:32:04 AM
 #11

Guys, am I the only one thinking this event and the latest price fall are all subtly linked together? We've been there before. IMO, Bitstamp team has something to do with this "hack" thing. Smiley

Wouldn't it make more sense that the hacker started to dump coins? He maybe just wanted to get rid of them and fill his pockets...

Apparently all the stolen coins are still in this address.

https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf

It's had no withdrawals from it yet.
waterpile
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January 06, 2015, 12:34:24 AM
 #12

Im wondering why does businesses that deal with btc end up getting hacked.

Almost all of the reasons are "We've been hacked".
orpington
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January 06, 2015, 12:36:12 AM
 #13

This "hack" is probably just like the Sony "hack". Blame it on someone else. Whereas in reality it was an inside job.
RyNinDaCleM
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January 06, 2015, 12:40:44 AM
 #14

Im wondering why does businesses that deal with btc end up getting hacked.

Almost all of the reasons are "We've been hacked".

There are 3 reasons to hack someone:
Money
Information
Notoriety (to say they can/did)

RealMalatesta
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January 06, 2015, 12:43:54 AM
 #15

Guys, am I the only one thinking this event and the latest price fall are all subtly linked together? We've been there before. IMO, Bitstamp team has something to do with this "hack" thing. Smiley

Wouldn't it make more sense that the hacker started to dump coins? He maybe just wanted to get rid of them and fill his pockets...

Apparently all the stolen coins are still in this address.

https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf

It's had no withdrawals from it yet.

Well, there crumbles my theory :-)

The US-govt surely soon will tell us that it was North Korea... :-9
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January 06, 2015, 01:10:29 AM
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Im wondering why does businesses that deal with btc end up getting hacked.

Almost all of the reasons are "We've been hacked".

Yeah, always the same. They're all hacked.

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January 06, 2015, 01:17:43 AM
 #17

Damn, it's a shame the instant I hear anything about hacking I think solvency issues...

Since these coins were primarily in their hot wallet, I wonder if this hack could be in part to mitigate some of the resulting loses from decreased buying pressure over the last few months (it's been a slow bleed)? Purely speculative:

"Lose" a large swath of coins from hot-wallet, buy previously inflated coins back at now lower price (recovering fiat losses). This supports the price and potentially mitigates their solvency problem because they are locked down in the short-term until they "figure it out."
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January 06, 2015, 01:46:00 AM
 #18

Guys, am I the only one thinking this event and the latest price fall are all subtly linked together? We've been there before. IMO, Bitstamp team has something to do with this "hack" thing. Smiley


yeah i justn sold all my bitcoins cuz of this.... lol.
BlindMayorBitcorn
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January 06, 2015, 01:50:04 AM
 #19

Guys, am I the only one thinking this event and the latest price fall are all subtly linked together? We've been there before. IMO, Bitstamp team has something to do with this "hack" thing. Smiley

Wouldn't it make more sense that the hacker started to dump coins? He maybe just wanted to get rid of them and fill his pockets...

Apparently all the stolen coins are still in this address.

https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf

It's had no withdrawals from it yet.

Is it possible to have the wallet.dat and yet have no access to the coins? Why haven't they been tumbled yet?

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January 06, 2015, 01:52:36 AM
 #20

Guys, am I the only one thinking this event and the latest price fall are all subtly linked together? We've been there before. IMO, Bitstamp team has something to do with this "hack" thing. Smiley

Wouldn't it make more sense that the hacker started to dump coins? He maybe just wanted to get rid of them and fill his pockets...

Apparently all the stolen coins are still in this address.

https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf

It's had no withdrawals from it yet.

Is it possible to have the wallet.dat and yet have no access to the coins? Why haven't they been tumbled yet?

It beats me. Maybe the hacker is too worried about getting busted to move the coins.
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