The Bter Exchange Cold Wallet return to zero....

[verdun2003]

I asked BTER to provide proof they went to the police to file a complaint but my mails went unanswered, I suggest we all send them tweets (https://twitter.com/btercom) or write them e-mails to provide such information (support@mail.bter.com).

Suspecting fool play as it was an alleged "cold wallet hack". Wouldn't be the first exchange to do so...

[sgk]

Now they're ready to sell the site to compensate user funds:

[Jukulangi]

Now they're ready to sell the site to compensate user funds:

https://i.imgur.com/9HeIRhL.jpg

o my god they never comeback
is bter.com worth BTC7170 ?

[bitkilo]

7k Bitcoin minimum stolen 'by Bter' the shady exchange no one should have trusted 

Most probably was the exchange stealing the coins but not a good move on their behalf saying it was stolen from cold wallet.
My best guess is that this was an inside job.
Good lesson to learn here, don't leave your coins on the exchange.

[stdset]

but not a good move on their behalf saying it was stolen from cold wallet

A short exercice with a block explorer reveals that the wallet indeed was used as a cold wallet. Anybody can see that.

[turvarya]

but not a good move on their behalf saying it was stolen from cold wallet

A short exercice with a block explorer reveals that the wallet indeed was used as a cold wallet. Anybody can see that.

How can a block explorer tell you, that it was a cold wallet?

[stdset]

How can a block explorer tell you, that it was a cold wallet?

It can't tell us whether it was connected to the internet or not (whether it was really 'cold'). But it's easy to see, that before Feb 14th the last outgoing transaction from the wallet happened on Feb 2nd. In January there were 7 days when they had outgoing transactions from the wallet. It must be a cold wallet. Users withdraw bitcoins from an exchange much more often. Also it's easy find their hot wallet, this is one of their hot wallet main addresses: 17o5zDFGNvP5H2iWd7aWbhacwS1HKDE4i9 and see many more outgoing transactions.

[Mad_Max]

Yes. it was definitely "cold" wallet or what was supposed to be one.
We do not know it is a theft by the owners themselves or some "inside job" (e.g theft with help of one of employees) or just weak dumb security like placing all "cold" coins in just one wallet and running it on regular internet connected computer with only difference compared to "hot" wallet was about it was NOT connected to web site and transactions made by hands not by scripts, which made hack possible.

[cheekychap]

I heard that cold wallets can be hacked. But never expected BTER to be hacked, specially because they are expected to keep it much much much more secure.

[turvarya]

I heard that cold wallets can be hacked. But never expected BTER to be hacked, specially because they are expected to keep it much much much more secure.

You heard wrong ...

[redsn0w]

I heard that cold wallets can be hacked. But never expected BTER to be hacked, specially because they are expected to keep it much much much more secure.

You heard wrong ...

Yes, it is almost impossible to hack a cold wallet because :

- it is offline
- you don't know which wallet they have used,
- again , it is "offline".

If they had a malware/virus on their offline pc, in this case it was possible to "hack" the cold wallet.  However bter has opened.