BTCSYN reports a $12k (1,852 BTC) theft

[jackmaninov]

If there are any BTCSYN investors that haven't seen the announcement of the theft on their forums, please see: http://forum.btcsyn.com/viewtopic.php?f=6&t=84

In summary, $12189 USD was sitting on the founder's MtGox account waiting for a mining hardware purchase and was transferred to BTC and withdrawn in the night. At the moment the symbol is frozen on GLBSE.

[RandomQ]

I just saw it.

password It was re-used on 3-4 sites only, and most of those are full financial institutions.

thing that got me was reusing passwords and no google auth or yubikey

[mcorlett]

How convenient! This has been pulled far too many times in this community.

[jackmaninov]

password It was re-used on 3-4 sites only, and most of those are full financial institutions.

thing that got me was reusing passwords and no google auth or yubikey

+1

The coins are sitting at 13HLqK2p7xwcxRQomKUyzXzsS2PCm1eAde  if anyone wants to watch for them.

[bitcoiners]

How convenient! This has been pulled far too many times in this community.

Feel the same.  If you don't protect/change your passwords and don't have a 2 step auth in place.  I'm not investing with you.  You aren't responsible enough to have my bitcoin.  Period.

The only surprising thing for me is that their bond price hasn't tanked.

[RandomQ]

The only surprising thing for me is that their bond price hasn't tanked.

I think trading has stopped on GLBSE for it, because people were getting errors trying to sell/buy before they made the posting about the loss.

[Vandroiy]

How convenient! This has been pulled far too many times in this community.

Feel the same.  If you don't protect/change your passwords and don't have a 2 step auth in place.  I'm not investing with you.  You aren't responsible enough to have my bitcoin.  Period.

The only surprising thing for me is that their bond price hasn't tanked.

I don't think you understand what he's implying.

It is indistinguishable whether the owner has transferred the funds out or they have actually been stolen by someone else. Standard procedure would be to just ignore the news and demand the funds back regardless -- and that's where it gets uncomfortable.

[joshv06]

I also got ~60$ in BTC stolen from me on Mt.Gox. I regrettably used a common password between my websites, do any of you think that bitcointalk is being SQLi'd?

[vampire]

It's too convenient.

[Bitcoin Oz]

This is complete bullshit.

[mcorlett]

How convenient! This has been pulled far too many times in this community.

Feel the same.  If you don't protect/change your passwords and don't have a 2 step auth in place.  I'm not investing with you.  You aren't responsible enough to have my bitcoin.  Period.

The only surprising thing for me is that their bond price hasn't tanked.

I don't think you understand what he's implying.

It is indistinguishable whether the owner has transferred the funds out or they have actually been stolen by someone else. Standard procedure would be to just ignore the news and demand the funds back regardless -- and that's where it gets uncomfortable.

Spot on! Thank you for clarifying.

[Glasswalker]

To speak up here and to bring a bit more info into this thread:

- While I know re-using passwords and not using 2 factor is not best-practice. It's hardly industry standard behavior. I've worked in computer security for 15 years, and many seasoned professionals do take the route of "good enough" for a balance of convenience. I've now learned from that mistake and all accounts that support it are 2 factor and randomly generated extremely strong (32char+ random upper/lower/numeric/special) passwords, with zero repeats. While many might like to claim this was shocking and horrible, keep in mind that account is usually used to shift money through quickly, and it was a strong password, only re-used at a few other high security large banks (fiat banks). Also 2 factor is far from standard, I've answered that comment in our own forums. I'm not disputing those things would have (likely) helped in this case, but I'm saying they were a very far cry from being grossly negligent.

- I've already got a formal case opened with local police. Which filing a false police report is a crime here. So if I had done it myself do you think I would have initiated a full investigation into the incident which could result in finding me responsible, and not only result in fraud charges, but charges for false police report? (extending the likely jail time I would serve). No... I'm doing my best to resolve this.

- I've also reported it to mtgox, and glbse right away, I've had MagicalTux and Nefario involved from early on, and I have both of their support in continuing the investigation (and they will be cooperating fully with law enforcement).

- I have documentation of everything that can be documented at this point.

- I'm doing everything I can to work through this. If there is anything else I can do to prove to anyone that I am not the criminal here, Let me know what it is, but unfortunately due to the nature of bitcoin, it's going to be difficult.

Why is it this community automatically assumes that if someone was robbed, they did it to themselves as a scam? I've got a lot of time, energy and my own money involved in trying to make the syndicate a success, and this is hitting me as hard as everyone else for that reason alone. Add to the fact that I'm the one who has to deal with it, investigate, document, and work with police. I'm also the one who has to come up with a plan of action to resolve it, and then add to that everyone else slinging accusations at me. If you think you're pissed about the circumstances, how do you think I feel?

Anyway, I'm going to refrain from getting further involved in this thread, I'm glad someone made a seperate announcement to bring attention to it, but it's quickly devolving into a lynch mob, so I won't be back... I'll try my best to answer questions in the main forum thread at btcsyn, and on the main thread for btcsyn here.

Thanks.

[vampire]

To speak up here and to bring a bit more info into this thread:

- While I know re-using passwords and not using 2 factor is not best-practice. It's hardly industry standard behavior. I've worked in computer security for 15 years, and many seasoned professionals do take the route of "good enough" for a balance of convenience. I've now learned from that mistake and all accounts that support it are 2 factor and randomly generated extremely strong (32char+ random upper/lower/numeric/special) passwords, with zero repeats. While many might like to claim this was shocking and horrible, keep in mind that account is usually used to shift money through quickly, and it was a strong password, only re-used at a few other high security large banks (fiat banks). Also 2 factor is far from standard, I've answered that comment in our own forums. I'm not disputing those things would have (likely) helped in this case, but I'm saying they were a very far cry from being grossly negligent.

- I've already got a formal case opened with local police. Which filing a false police report is a crime here. So if I had done it myself do you think I would have initiated a full investigation into the incident which could result in finding me responsible, and not only result in fraud charges, but charges for false police report? (extending the likely jail time I would serve). No... I'm doing my best to resolve this.

- I've also reported it to mtgox, and glbse right away, I've had MagicalTux and Nefario involved from early on, and I have both of their support in continuing the investigation (and they will be cooperating fully with law enforcement).

- I have documentation of everything that can be documented at this point.

- I'm doing everything I can to work through this. If there is anything else I can do to prove to anyone that I am not the criminal here, Let me know what it is, but unfortunately due to the nature of bitcoin, it's going to be difficult.

Why is it this community automatically assumes that if someone was robbed, they did it to themselves as a scam? I've got a lot of time, energy and my own money involved in trying to make the syndicate a success, and this is hitting me as hard as everyone else for that reason alone. Add to the fact that I'm the one who has to deal with it, investigate, document, and work with police. I'm also the one who has to come up with a plan of action to resolve it, and then add to that everyone else slinging accusations at me. If you think you're pissed about the circumstances, how do you think I feel?

Anyway, I'm going to refrain from getting further involved in this thread, I'm glad someone made a seperate announcement to bring attention to it, but it's quickly devolving into a lynch mob, so I won't be back... I'll try my best to answer questions in the main forum thread at btcsyn, and on the main thread for btcsyn here.

Thanks.

Few points:

I don't work in the security field, but most of these so called security experts are morons. And you are right - they are lazy, if it isn't inconvenient for them they wouldn't do a thing. My fiat bank has two factor authentication for the last 8 years.

Stealing money is a crime too, filing the report doesn't clear you of anything - specifically negligence.

[bitcoiners]

they were a very far cry from being grossly negligent.

Yes they are negligent.

Also, if you've done nothing wrong then allow trading to resume and let people "cash out".

[Bitcoin Oz]

I do hope you took a pic of that police report or have some way to prove you actually went to the cops...if it was me I would have taken a pic of it on my phone

[bitcoiners]

"I won't be back."

Didn't see that.  Wow.  Pretty obvious what happened here now.

[Clipse]

Oh my now it makes alot more sense why Glaswalker could throw in , "LOL's" during his claim for theft on #mtgox channel.

I couldnt understand at the time why he would at all use LOL inbetween his supposed anger towards losing his 5 figure sum, now I see its money that didnt belong to him, convenient indeed.

At the time it didnt seem like he thought of it as alot of money so surely he can cover it since its his fault and not that of his investors. Passing the duffel bag is more than a crime, its a pure shakaru move.

[bitcoinBull]

I thougt there was a 400 btc per 24 hr withdrawal limit (by default)...

[pekv2]

*sigh* Well, if it had been stolen, he/she just bought 12k worth of knowledge that I could have gave for free.

[DeathAndTaxes]

I thougt there was a 400 btc per 24 hr withdrawal limit (by default)...

There is but you can have it raised if verified.  I think it is 4,000 BTC for lvl2 and 40,000 BTC for lvl3.