BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE |

[dbshck]

Can someone explain how is it possible to hack cold wallet? I thought cold wallet means offline and secure

Two days ago I had been trying to withdraw about 1.7 BTC from Bter and had to wait  for almost two hours for the exchange to finally process my withdrawal (yeah, writing on the wall). As I got it, they were gutting their cold wallet...

Well then I think that wallet isn't that "cold".

[olcaytu2005]

 can blockchain stop all transactions of that address (sent 7160 btc) ?? cant Bter get its btc back?

[Splatters]

 can blockchain stop all transactions of that address (sent 7160 btc) ?? cant Bter get its btc back?

I dont think...did blockchain stop the transaction of the 19k BTC stolen from bitstamp?

[cazkooo]

 can blockchain stop all transactions of that address (sent 7160 btc) ?? cant Bter get its btc back?

they cant, because thats what they call as decentralized, and no one controls that, well if im wrong , feel free to correct me, since i am fairly new in bitcoins

[deisik]

I never heard of this website before to be total honest with you , what are they ? some kinda of Bitcoin exchange website or something ?
If that's the case how come that the Bitcoin price didn't drop , not even a little , it seems stable those last couple of days .

Why should it drop actually? Thousands of bitcoins are frozen right now (and other altcoins as well), the wallet of the thief is "dirty" now, so as soon as he begins spending, he will be traced down (read he won't be able to spen stolen coins any time soon)...

What , they can track him to his home once he start sending Bitcoins ? I guess that Bitcoin isn't that annonymus after all , is it ?

No, it is not anonymous at all. If you need to be really anonymous look toward darkNote...

Personally I don't buy it anyway , I mean any exchanger can simply take time developping a website , run it for couple of years , get trust of people then simply and at the end of the day , he make an HTML page that says "oh we got hacked , bye bye" . I mean ... It could simply be an inside job and no one will know anything about it at all.

Bter had been hacked before (some NXT coins were stolen) and they didn't close. Thus it now appears that they were actually hacked... 

[TookDk]

It is interesting to see how the thieves have nicely distributed the coins into 7 x 1000 BTC addys, and the left overs has gone into a mixer.
Ofcause you cannot redraw 7000 BTC at once without getting caught, so the 7x1000 BTC will be long time storage (properly many years) and the left overs that is in the mixer will go to one heck of a party.

[deisik]

 can blockchain stop all transactions of that address (sent 7160 btc) ?? cant Bter get its btc back?

I dont think...did blockchain stop the transaction of the 19k BTC stolen from bitstamp?

"They" won't stop, by still can help track down the thief. I think main Bitcoin mixers should be given notice of the theft, since in no society theft should be allowed...

[deisik]

Ofcause you cannot redraw 7000 BTC at once without getting caught, so the 7x1000 BTC will be long time storage (properly many years) and the left overs that is in the mixer will go to one heck of a party.

It is possible to trace the stolen money even through a mixer, provided the mixer owner is willing to cooperate...

[redsn0w]

Ofcause you cannot redraw 7000 BTC at once without getting caught, so the 7x1000 BTC will be long time storage (properly many years) and the left overs that is in the mixer will go to one heck of a party.

It is possible to trace the stolen money even through a mixer, provided the mixer owner is willing to cooperate...

Yes it can possible to trace them, but it will also "impossible" to recover it. The transaction is irreversible and the hacker/s is good, very good (much more than bter.com).

[deisik]

Ofcause you cannot redraw 7000 BTC at once without getting caught, so the 7x1000 BTC will be long time storage (properly many years) and the left overs that is in the mixer will go to one heck of a party.

It is possible to trace the stolen money even through a mixer, provided the mixer owner is willing to cooperate...

Yes it can possible to trace them, but it will also "impossible" to recover it. The transaction is irreversible and the hacker/s is good, very good (much more than bter.com).

If they get the person, the irreversibility of the blockchain will be irrelevant...

[TookDk]

Ofcause you cannot redraw 7000 BTC at once without getting caught, so the 7x1000 BTC will be long time storage (properly many years) and the left overs that is in the mixer will go to one heck of a party.

It is possible to trace the stolen money even through a mixer, provided the mixer owner is willing to cooperate...

Well that is the business model of a mixer, to hide the transactions of their clients - so you could speculate that the mixer company "would not be able" to provide this information.

The smart thing to do for the thieves would leave the coins alone.
The BIPS hack 19 Nov 2013, was 1200 coins stolen, the coins was send to:
https://blockchain.info/address/1LuG91tcSQxKj32BsCoRkX7yQLfj9LtkCs

The coins has not been touch ever since.

And the thieves was never found...

[deisik]

Ofcause you cannot redraw 7000 BTC at once without getting caught, so the 7x1000 BTC will be long time storage (properly many years) and the left overs that is in the mixer will go to one heck of a party.

It is possible to trace the stolen money even through a mixer, provided the mixer owner is willing to cooperate...

Well that is the business model of a mixer, to hide the transactions of their clients - so you could speculate that the mixer company "would not be able" to provide this information.

The smart thing to do for the thieves would leave the coins alone

Then it makes no sense to steal the coins in the first place...

And the thieves was never found...

How do you know?

[redsn0w]

However, do someone from you "noticed" that the hacker(s)  has (have) put 0:zero as fee in each TX ? In the bitStamp attack I remember  the fees were 0.05- 0.25 (and more) btc.

[ticoti]

OMG it has happened again,every time that bitcoin is in a good way another hack....

I am afraid that bter users are not going to recover their bitcoins

[deisik]

Ofcause you cannot redraw 7000 BTC at once without getting caught, so the 7x1000 BTC will be long time storage (properly many years) and the left overs that is in the mixer will go to one heck of a party.

It is possible to trace the stolen money even through a mixer, provided the mixer owner is willing to cooperate...

Well that is the business model of a mixer, to hide the transactions of their clients - so you could speculate that the mixer company "would not be able" to provide this information

I don't think this will work in case of thievery, otherwise a mixer owner becomes an accomplice...

[TookDk]

How do you know?

I asked the owner of bitcoin nordic not to long ago, the left over of BIPS was fusion with bitcoin nordic, which used to be my broker, they now goes under the name coinify.
I expressed my concern over this fusion and got a detailed explanation.
 
But you have a good point, they could be lying, so I do not know for sure.

Edit: I learned my lesson back then in 2013, 3 coins lost

[redsn0w]

Error.

[irfan_pak10]

OMG it has happened again,every time that bitcoin is in a good way another hack....

I am afraid that bter users are not going to recover their bitcoins

Yes One after another scammer hacking every site. I dont think these are scammer that hacking these site its their own site owner who are hacking the sites. Now i also lost my 3$ in this site  . Its not the point that i only lost my 3$ but the point is How i can safe my BTC when all the site going down every day?

[deisik]

News about bter : http://cointelegraph.com/news/112278/breaking-bter-hacked-50m-nxt-stolen

It seems also the altcoins were "stolen" .

Breaking: Bter Hacked, 50M NXT Stolen by Ian DeMartino @ 2014-08-15 01:58 PM

Bter had been hacked before (some NXT coins were stolen) and they didn't close. Thus it now appears that they were actually hacked... 

[TookDk]

OMG it has happened again,every time that bitcoin is in a good way another hack....

I am afraid that bter users are not going to recover their bitcoins

Yes One after another scammer hacking every site. I dont think these are scammer that hacking these site its their own site owner who are hacking the sites. Now i also lost my 3$ in this site  . Its not the point that i only lost my 3$ but the point is How i can safe my BTC when all the site going down every day?

Well, its a matter of statistic, only leave coins on an exchange for those minutes/hours it is needed to exchange, and hope you don't get caught in the middle of a hack.
Else NEVER leave coins at exchanges for longer time.