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Author Topic: BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE |  (Read 119720 times)
stdset
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February 16, 2015, 01:18:42 PM
 #161

Leading up to the hack the "cold wallet" was online almost daily.
What makes you think that it was online almost dayly?

Sorry daily was a bit of an exaggeration, but there is a number of outputs from the wallet in January.
In January there were 7 days when they sent funds from the wallet: 9th, 10th, 19th, 22nd, 24th, 26th, 27th. IMO it's more or less as often as we could expect.

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February 16, 2015, 03:35:50 PM
 #162

No  Sad , I lost 3,4 bitcoin. Now what should I do ?
Drink cold water  ... as me from mtgox colapse, these exchanges are big sh@t and no one is secured
redsn0w (OP)
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February 16, 2015, 04:22:23 PM
 #163

No  Sad , I lost 3,4 bitcoin. Now what should I do ?
Drink cold water  ... as me from mtgox colapse, these exchanges are big sh@t and no one is secured

Yes, you can't do nothing. Only wait news from them and hope they will repay you (at least a percentual of your loss, or better completely).
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February 16, 2015, 04:23:25 PM
 #164

i mailed to BTER and they replied me. i asked about other altcoins and they:

Quote
Dear Sir,
We are trying to get the stolen btc back. The withdrawal of other unaffected coins will be arranged later

Please kindly keep an eye on the bter.com for the update

Best Regards
Bter.com

 
Borisz
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February 16, 2015, 04:45:33 PM
 #165

i mailed to BTER and they replied me. i asked about other altcoins and they:

Quote
Dear Sir,
We are trying to get the stolen btc back. The withdrawal of other unaffected coins will be arranged later

Please kindly keep an eye on the bter.com for the update

Best Regards
Bter.com

 
Well yes, the question is whether they will just swallow their losses or deflect it to the users and say "aaaand it's gone".
But this implies that not everything was affected, well at least according to them. There is hope.

If they manage to catch the people who stole the BTC and get it back, do you think it would deter further thefts from exchanges?
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February 16, 2015, 04:47:30 PM
 #166

i mailed to BTER and they replied me. i asked about other altcoins and they:

Quote
Dear Sir,
We are trying to get the stolen btc back. The withdrawal of other unaffected coins will be arranged later

Please kindly keep an eye on the bter.com for the update

Best Regards
Bter.com

 
Well yes, the question is whether they will just swallow their losses or deflect it to the users and say "aaaand it's gone".
But this implies that not everything was affected, well at least according to them. There is hope.

Dogecoins are intact... Cool

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February 16, 2015, 04:55:55 PM
 #167

i mailed to BTER and they replied me. i asked about other altcoins and they:

Quote
Dear Sir,
We are trying to get the stolen btc back. The withdrawal of other unaffected coins will be arranged later

Please kindly keep an eye on the bter.com for the update

Best Regards
Bter.com

 

Can I add the email on the first post of this thread or could it be a problem for you ?
olcaytu2005
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February 16, 2015, 04:56:55 PM
 #168

i mailed to BTER and they replied me. i asked about other altcoins and they:

Quote
Dear Sir,
We are trying to get the stolen btc back. The withdrawal of other unaffected coins will be arranged later

Please kindly keep an eye on the bter.com for the update

Best Regards
Bter.com

 

Can I add the email on the first post of this thread or could it be a problem for you ?

 No problem you can add
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February 16, 2015, 05:11:00 PM
 #169

Someone knows if BTS is affected too?

Token Bubbles – Transforming the ICO Rating and Analysis Space.
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February 16, 2015, 05:13:57 PM
 #170

i feel like this cold wallet incident has to be a inside job.. what are the odds of being an outsider?
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February 16, 2015, 05:18:26 PM
 #171

Quote from: deisik

Dogecoins are intact... Cool
well and btc from mtgox are intact  Grin
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February 16, 2015, 05:20:35 PM
 #172

so glad that i have no balance there only have account on there
actually this is bad for crypto currency
after gox, mintpal, bitstamp, and now bter
for now security is the main issue for any exchanger
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February 16, 2015, 05:40:24 PM
 #173

Quote from: deisik

Dogecoins are intact... Cool
well and btc from mtgox are intact  Grin

I mean they were not stolen... or "stolen" if you please! Grin

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February 16, 2015, 05:43:52 PM
 #174

Someone knows if BTS is affected too?
I had some of those left there, I am also curious to see. If the site goes back online, I think those would be intact.
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February 16, 2015, 07:10:52 PM
Last edit: February 16, 2015, 08:27:15 PM by deisik
 #175

Who knows how many bitcoins does Bter have in the hot wallets, i.e. at their disposal right now? This wallet belongs to Bter (100%) and has a total balance of 130 BTC at the moment...

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February 16, 2015, 08:17:08 PM
 #176

Why you shouldn't never keep your coin on an exchange : https://bitcointalk.org/index.php?topic=945881.0  (added the thread to the initial post).

Thanks @gbianchi for his fantastic explanation, and remember as always : an exchange isn't a bank.
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February 16, 2015, 08:54:07 PM
 #177

Why you shouldn't never keep your coin on an exchange : https://bitcointalk.org/index.php?topic=945881.0  (added the thread to the initial post).

Thanks @gbianchi for his fantastic explanation, and remember as always : an exchange isn't a bank.

Nice read and of course an exchange is not a bank (well shouldn't be, although they may use fractional-reserve, who knows?). But as many on the forums have said it before, I have to keep some coins on the exchange if I want to trade them. I cannot withdraw every single time for a fee of X BTC.

Also, the stolen funds were from a cold wallet. How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.
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February 16, 2015, 08:57:43 PM
 #178

--snip
DO NOT HOLD YOUR BTC ON THIRD PARTY EXCHANGES – BE YOUR OWN BANK
--snip

Cryptography is one of the few things you can truly trust.
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February 16, 2015, 09:30:58 PM
 #179


......... How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.

I suspect it was an inside job, and the smart people who should have been keeping the cold wallet safe robbed it themselves.

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Borisz
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February 16, 2015, 09:50:07 PM
 #180


......... How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.

I suspect it was an inside job, and the smart people who should have been keeping the cold wallet safe robbed it themselves.

I though about it too and many others on the forums as well. I'd say let's wait and see what happens. We don't have to assume the worst at first.
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