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Author Topic: MtGox and Private Key Imports  (Read 2005 times)
unclemantis
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July 11, 2012, 09:58:11 PM
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I have a few public addresses that I am watching using bitping. I had imported the private keys into MtGox and my account balance went up. I then spent all my balance and now I am down to zero.

I had forgotten that I was watching these addresses and now i just received a few emails from bitping notifying me of a deposit. My interest peaked so I went to the address on blockchain.info to see that here has been sent and recived activity. The current balance for the address is 0.0004 BTC and when I go to mtgox.com and look at my balance it is still at zero.

WTF? When I import the private keys don't they get added to my wallet on mtgox? Why is mtgox reusing my private keys!?


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casascius
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July 11, 2012, 10:04:00 PM
 #2

MtGox doesn't show your funds until they have swept your balance into a new address and THEN seen 6+ confirmations, and the fact that coins got sent does not support the conclusion that MtGox is "reusing" your private keys.  Anyone could send funds to anyone.  If they are reusing your keys, this is to their own detriment, not yours.

However, MtGox has indicated that once you import a private key, they remember that private key and will sweep any new incoming funds into your MtGox account.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
unclemantis
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July 12, 2012, 05:05:04 AM
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MtGox doesn't show your funds until they have swept your balance into a new address and THEN seen 6+ confirmations, and the fact that coins got sent does not support the conclusion that MtGox is "reusing" your private keys.  Anyone could send funds to anyone.  If they are reusing your keys, this is to their own detriment, not yours.

However, MtGox has indicated that once you import a private key, they remember that private key and will sweep any new incoming funds into your MtGox account.

I have made no withdrawals today at all on mtgox. This is one of the keys in question.

http://www.blockchain.info/address/1MY8vPCE1oeAQShg5Qi9EAr6n7MLAhTtQj

I am looking at my balance on mtgox now and it says i have 0.00740000 BTC. I had zero the last time I looked today. I am really confused. I have no idea wtf is going on. It is nice to see btc but where did it come from and why is mtgox debiting and crediting 1MY8vPCE1oeAQShg5Qi9EAr6n7MLAhTtQj.


There is no way my mtgox account has been compremised. The funny thing is this public address 1MY8vPCE1oeAQShg5Qi9EAr6n7MLAhTtQj is not know by ANYONE until this post. So how the hell is it being funded!?

Is this a glitch?

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casascius
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July 12, 2012, 05:10:35 AM
 #4

That public address became public on June 27th, the day it was first used.  Anyone could have sent funds to it.  Any address that gets used for transactions anywhere becomes public knowledge.  There is nothing to support the conclusion that MtGox sent the money to that address, though it's reasonable to conclude that MtGox is sweeping it off and into your account as it arrives.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
unclemantis
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July 12, 2012, 05:43:44 PM
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That public address became public on June 27th, the day it was first used.  Anyone could have sent funds to it.  Any address that gets used for transactions anywhere becomes public knowledge.  There is nothing to support the conclusion that MtGox sent the money to that address, though it's reasonable to conclude that MtGox is sweeping it off and into your account as it arrives.

If someone is sending me money then by all means keep sending it! LOL

Thanks for clearing that up.

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