Bitcoin Forum
October 31, 2024, 09:37:33 PM *
News: Bitcoin Pumpkin Carving Contest
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 [5] 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 ... 71 »
  Print  
Author Topic: BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE |  (Read 119716 times)
almightyruler
Legendary
*
Offline Offline

Activity: 2268
Merit: 1092


View Profile
February 15, 2015, 07:38:53 PM
 #81

Can someone explain how is it possible to hack cold wallet? I thought cold wallet means offline and secure Undecided
All it supposed to mean is that it's disconnected from the Internet.  

Like maybe printed out in a safe or on a yellow sticky on somebody's computer monitor.    Shocked

Not just disconnected, but never connected, ever.

The device or program that creates the wallet and receive address should be 100% standalone, not networked at all. For example, a dedicated boot CD (with HD, USB sticks etc disconnected) that prints out the key and address(es). No need to run a client, download the blockchain, or transfer any data via electronic means.
rich93
Full Member
***
Offline Offline

Activity: 595
Merit: 101


Chromia - Relational Blockchain


View Profile WWW
February 15, 2015, 07:43:01 PM
 #82

It's hitting the big news websites now.

http://www.coindesk.com/bter-bitcoin-stolen-cold-wallet-hack/

♠️ Facebook: http://facebook.com/ChromiaStudios                 ♥️ Webpage: http://chromiastudios.com
♦️ LinkedIn:  http://linkedin.com/company/chromiastudios      ♣️ Reddit: http://reddit.com/r/ChromiaStudios                     
♥️ Twitter:    https://twitter.com/teamchromia                        ♦️  Twitter: https://twitter.com/ChromaWay
************************************************************************************************
jaxxx
Full Member
***
Offline Offline

Activity: 159
Merit: 100


Well fuck you then.


View Profile
February 15, 2015, 07:50:03 PM
 #83

how does one get hacked through a cold wallet though.. makes me really think all of our bitcoins are unsafe.

Time to jaxxx it up.
redsn0w (OP)
Legendary
*
Offline Offline

Activity: 1778
Merit: 1043


#Free market


View Profile
February 15, 2015, 07:53:32 PM
 #84


Thanks , I've added the link in the OP, 7'000 bitcoins aren't peanuts. Someone from you had coins on it ?
pedrog
Legendary
*
Offline Offline

Activity: 2786
Merit: 1031



View Profile
February 15, 2015, 07:54:43 PM
 #85

If it was a cold wallet, how the hell was it stolen?

Somebody physically entered their facilities?

TookDk
Legendary
*
Offline Offline

Activity: 1960
Merit: 1062


One coin to rule them all


View Profile WWW
February 15, 2015, 07:58:00 PM
 #86

If it was a cold wallet, how the hell was it stolen?

Somebody physically entered their facilities?

Obviously not cold, if you go back and look at the pattern of the coin movement before the hack, it is typical hot wallet pattern.

What a mistake to keep all the funds in a hot wallet.

Cryptography is one of the few things you can truly trust.
pedrog
Legendary
*
Offline Offline

Activity: 2786
Merit: 1031



View Profile
February 15, 2015, 08:02:19 PM
 #87

If it was a cold wallet, how the hell was it stolen?

Somebody physically entered their facilities?

Obviously not cold, if you go back and look at the pattern of the coin movement before the hack, it is typical hot wallet pattern.

What a mistake to keep all the funds in a hot wallet.

More than 7000 coins in hot wallet, WOW, that is living dangerously...

cshelswell
Hero Member
*****
Offline Offline

Activity: 615
Merit: 500


View Profile WWW
February 15, 2015, 08:16:25 PM
 #88

I think a lot of the reason people keep coins on there is if you're trading it can take a while for funds to confirm so you miss the pumps and dumps. I was lucky and withdrew a lot last week. I wonder if they'll try to make up their loss by selling off the altcoins?

nachoig
Sr. Member
****
Offline Offline

Activity: 252
Merit: 250


View Profile
February 15, 2015, 08:19:35 PM
 #89

Price is down. 232 USD on Bitfinex.
redsn0w (OP)
Legendary
*
Offline Offline

Activity: 1778
Merit: 1043


#Free market


View Profile
February 15, 2015, 08:29:54 PM
 #90

If it was a cold wallet, how the hell was it stolen?

Somebody physically entered their facilities?

Obviously not cold, if you go back and look at the pattern of the coin movement before the hack, it is typical hot wallet pattern.

What a mistake to keep all the funds in a hot wallet.

More than 7000 coins in hot wallet, WOW, that is living dangerously...

Maybe their definition of cold wallet is a "little bit" different from our. The cold wallet must not be *connected* to internet (indeed the tx is pushed up by a secondary pc/device) or maybe it is only an "inside jobs".
rich93
Full Member
***
Offline Offline

Activity: 595
Merit: 101


Chromia - Relational Blockchain


View Profile WWW
February 15, 2015, 08:40:44 PM
 #91


Thanks , I've added the link in the OP, 7'000 bitcoins aren't peanuts. Someone from you had coins on it ?

I only had a small amount of coins on there when it was hacked. I feel sorry for people with big amounts of coins on bter. The lack of updates is annoying. They have not even a statement on their twitter account.

♠️ Facebook: http://facebook.com/ChromiaStudios                 ♥️ Webpage: http://chromiastudios.com
♦️ LinkedIn:  http://linkedin.com/company/chromiastudios      ♣️ Reddit: http://reddit.com/r/ChromiaStudios                     
♥️ Twitter:    https://twitter.com/teamchromia                        ♦️  Twitter: https://twitter.com/ChromaWay
************************************************************************************************
SolidStateSurvivor
Hero Member
*****
Offline Offline

Activity: 553
Merit: 500


Solo Miner Legend


View Profile WWW
February 15, 2015, 08:45:45 PM
 #92

I had 1 EXC in there, how dare they!  Undecided

Founding member of Hashmeisters Inc...
roosmaa
Newbie
*
Offline Offline

Activity: 16
Merit: 0


View Profile WWW
February 15, 2015, 08:48:54 PM
 #93

I sincerely hope that BTER manages to recover some of the stolen funds.

I'm developing a storage solution called Karabraxos (and am looking for co-founders) at the moment. I think it's time for companies who need custodial wallets (exchanges, casinos, etc) to stop reinventing the wheel in-house. As we can see it's very difficult to get it right when security is not their core business and resources are scarce. So this was me doing a shameless plug here to raise some awareness of what I'm currently working on.
cozytrade
Sr. Member
****
Offline Offline

Activity: 1162
Merit: 310


Vave.com - Crypto Casino


View Profile
February 15, 2015, 08:51:12 PM
 #94

[DON'T KEEP YOUR MONEY ON AN EXCHANGE]

Do they keep fiat (USD) after egopay suspended operation?

redsn0w (OP)
Legendary
*
Offline Offline

Activity: 1778
Merit: 1043


#Free market


View Profile
February 15, 2015, 08:53:40 PM
 #95

I sincerely hope that BTER manages to recover some of the stolen funds.

I'm developing a storage solution called Karabraxos (and am looking for co-founders) at the moment. I think it's time for companies who need custodial wallets (exchanges, casinos, etc) to stop reinventing the wheel in-house. As we can see it's very difficult to get it right when security is not their core business and resources are scarce. So this was me doing a shameless plug here to raise some awareness of what I'm currently working on.

With a simple multiSig you are "safe" at 99%, because you know that the 100% of security doesn't exist.

[DON'T KEEP YOUR MONEY ON AN EXCHANGE]

Do they keep fiat (USD) after egopay suspended operation?


I don't know, I've used bter only 1-2 times a lot of months ago.
rich93
Full Member
***
Offline Offline

Activity: 595
Merit: 101


Chromia - Relational Blockchain


View Profile WWW
February 15, 2015, 08:55:41 PM
 #96

I had 1 EXC in there, how dare they!  Undecided

I also had a few EXC in there because I thought bter was its only exchange. Is it listed on any other exchanges? If bter closes for good it could finish some of the coins that are only listed on bter.

♠️ Facebook: http://facebook.com/ChromiaStudios                 ♥️ Webpage: http://chromiastudios.com
♦️ LinkedIn:  http://linkedin.com/company/chromiastudios      ♣️ Reddit: http://reddit.com/r/ChromiaStudios                     
♥️ Twitter:    https://twitter.com/teamchromia                        ♦️  Twitter: https://twitter.com/ChromaWay
************************************************************************************************
Borisz
Sr. Member
****
Offline Offline

Activity: 476
Merit: 251



View Profile
February 15, 2015, 09:18:42 PM
 #97

Despite all the added security and what not this still happens, at exchanges that hold large amounts of money in both fiat and BTC. It's kind of disappointing. What's the point of having a cryptocurrency when this happens over and over again?

Also, it's a bad name in the press as the public will be even more scared of using/accepting bitcoins as payment.
SolidStateSurvivor
Hero Member
*****
Offline Offline

Activity: 553
Merit: 500


Solo Miner Legend


View Profile WWW
February 15, 2015, 09:22:42 PM
 #98

I had 1 EXC in there, how dare they!  Undecided

I also had a few EXC in there because I thought bter was its only exchange. Is it listed on any other exchanges? If bter closes for good it could finish some of the coins that are only listed on bter.

No, it is not listed anywhere else, AFAIK, so yeah it would be a stick in the mud. It used to be listed on https://www.swisscex.com/market/EXC_BTC, but it's disabled. I'm going to see if I can get them to reopen that market.

Founding member of Hashmeisters Inc...
199BTC
Newbie
*
Offline Offline

Activity: 25
Merit: 0


View Profile
February 15, 2015, 09:25:25 PM
 #99

Despite all the added security and what not this still happens, at exchanges that hold large amounts of money in both fiat and BTC. It's kind of disappointing. What's the point of having a cryptocurrency when this happens over and over again?

Also, it's a bad name in the press as the public will be even more scared of using/accepting bitcoins as payment.
You are right just because of these mistakes many exchanges lost big amounts and faith of many peoples now some are thinking to leave  this crypto world
portice
Legendary
*
Offline Offline

Activity: 999
Merit: 1000


View Profile
February 15, 2015, 09:27:57 PM
 #100

I guess people forgot about the NXT fiasco.  Expensive lessons in this crypto world of ours.
Pages: « 1 2 3 4 [5] 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 ... 71 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!