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Author Topic: BTC-e Trading Resumed | Bitinstant <--> BTC-E Enabled now  (Read 3222 times)
Yankee (BitInstant)
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July 31, 2012, 02:55:37 PM
 #1

[7/31/12 10:49:33 AM] btc-e.com: Started trading!

Since the attack started about 8pm Eastern last night, I have been awake until about now (11am EST) working with BTC-e on the investigation.

From the moment they woke up and I broke the news to them, until now they have handled it exeptionally well.

Within only a few hours they posted an update https://btc-e.com/news/81

It sounds like they also adopted good security practices and because of it only lost 4500 BTC even though the hacker tried stealing upwards of 30000 BTC.
Cold storage is the way to go.

Bitinstant will resume to work with BTC-E, however even though trading is resumed we will not be enabling deposits/withdrawals in and out of BTC-e to protect customers funds for the next few hours. Stay tuned.

EDIT: Bitinstant <--> BTC-E Enabled now

Thanks

-Charlie

"In a free society, private payments should be covered by merchant-customer privilege just as attorney-client privilege covers confidential legal communication." - Jon Matonis, Director, Bitcoin Foundation
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Vod
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July 31, 2012, 02:58:25 PM
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[7/31/12 10:49:33 AM] btc-e.com: Started trading!

Since the attack started about 8pm Eastern last night, I have been awake until about now (11am EST) working with BTC-e on the investigation.

From the moment they woke up and I broke the news to them, until now they have handled it exeptionally well.

Within only a few hours they posted an update https://btc-e.com/news/81

It sounds like they also adopted good security practices and because of it only lost 4500 BTC.

Bitinstant will resume to work with BTC-E, however even though trading is resumed we will not be enabling deposits/withdrawals in and out of BTC-e to protect customers funds for the next few hours.

Thanks

-Charlie

It's nice to see how it should be done.  Kudos to BTC-e!

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rjk
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July 31, 2012, 03:03:58 PM
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Hehe, I like your grammar. Either you are extremely overtired, or you have been working with some Russians via a machine translator, or both. Grin

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July 31, 2012, 03:13:01 PM
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however even though trading is resumed we will not be enabling deposits/withdrawals in and out of BTC-e to protect customers funds for the next few hours.

Good decision. It's important to understand how the password leaked to prevent it from happening again.

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Yankee (BitInstant)
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July 31, 2012, 03:18:10 PM
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Hehe, I like your grammar. Either you are extremely overtired, or you have been working with some Russians via a machine translator, or both. Grin

Heh, extremely overtired. Usually Erik proofreads my posts before I post them.

If you want, feel free to correct me and Ill fix it..

/Goes to make coffee

"In a free society, private payments should be covered by merchant-customer privilege just as attorney-client privilege covers confidential legal communication." - Jon Matonis, Director, Bitcoin Foundation
niko
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July 31, 2012, 03:35:10 PM
 #6

I'm very glad this didn't end up terribly. Hope the exchange will recover and move on. Kudos to all involved with prevention and cleanup.

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JackRabiit
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July 31, 2012, 04:45:37 PM
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Damn man... 4500 more btc stolen... If this keeps up hackers are going to be REALLY attracted to bitcoins...

niko
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July 31, 2012, 04:51:51 PM
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Damn man... 4500 more btc stolen... If this keeps up hackers are going to be REALLY attracted to bitcoins...

Which only proves that bitcoins are valuable and useful. Exchanges and users will eventually get their act together and start treating Bitcoin with respect.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
defxor
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July 31, 2012, 06:01:37 PM
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It sounds like they also adopted good security practices

Explaining the external use of their LR key with "brute forced" has me worried, I don't see how that's computationally possible: https://bitcointalk.org/index.php?topic=96831.msg1068030#msg1068030

What additional security practices are put in place in case the hackers are able to extract new replacement keys easily?

Yankee (BitInstant)
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July 31, 2012, 06:44:54 PM
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Update Bitinstant <--> BTC-E Enabled now

It sounds like they also adopted good security practices

Explaining the external use of their LR key with "brute forced" has me worried, I don't see how that's computationally possible: https://bitcointalk.org/index.php?topic=96831.msg1068030#msg1068030

What additional security practices are put in place in case the hackers are able to extract new replacement keys easily?



They are preparing a full write up for the community including screenshots, ect.

"In a free society, private payments should be covered by merchant-customer privilege just as attorney-client privilege covers confidential legal communication." - Jon Matonis, Director, Bitcoin Foundation
finkleshnorts
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July 31, 2012, 06:47:57 PM
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I'm shocked at how well this has been handled (so far).

So well, in fact, that we may start seeing conspiracies crop up about how btc-e hacked their own site to show how well they handled it.  Roll Eyes

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cryptoanarchist
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July 31, 2012, 06:53:15 PM
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I'm shocked at how well this has been handled (so far).

So well, in fact, that we may start seeing conspiracies crop up about how btc-e hacked their own site to show how well they handled it.  Roll Eyes

HA! Even if that was the case, that would just prove they were savvy marketers to boot. BTCe has demonstrated to people how things are supposed to get done.


Yankee (BitInstant)
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July 31, 2012, 06:58:12 PM
 #13

I'm shocked at how well this has been handled (so far).

So well, in fact, that we may start seeing conspiracies crop up about how btc-e hacked their own site to show how well they handled it.  Roll Eyes

haha I was thinking that, for 4500 BTC it could be worth it lol

"In a free society, private payments should be covered by merchant-customer privilege just as attorney-client privilege covers confidential legal communication." - Jon Matonis, Director, Bitcoin Foundation
Scott J
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July 31, 2012, 07:44:25 PM
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I'm shocked at how well this has been handled (so far).

So well, in fact, that we may start seeing conspiracies crop up about how btc-e hacked their own site to show how well they handled it.  Roll Eyes

haha I was thinking that, for 4500 BTC it could be worth it lol
Hmmm... it does seem to make sense!

cryptoanarchist, get working on some theories Wink

defxor
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August 16, 2012, 12:26:29 AM
 #15

Update Bitinstant <--> BTC-E Enabled now

It sounds like they also adopted good security practices

Explaining the external use of their LR key with "brute forced" has me worried, I don't see how that's computationally possible: https://bitcointalk.org/index.php?topic=96831.msg1068030#msg1068030

What additional security practices are put in place in case the hackers are able to extract new replacement keys easily?



They are preparing a full write up for the community including screenshots, ect.

Did this ever happen?

420
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October 11, 2012, 01:58:16 AM
 #16

Update Bitinstant <--> BTC-E Enabled now

It sounds like they also adopted good security practices

Explaining the external use of their LR key with "brute forced" has me worried, I don't see how that's computationally possible: https://bitcointalk.org/index.php?topic=96831.msg1068030#msg1068030

What additional security practices are put in place in case the hackers are able to extract new replacement keys easily?



They are preparing a full write up for the community including screenshots, ect.

Did this ever happen?



did the write-up and screens happen?

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Yankee (BitInstant)
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Charlie Van Bitcoin


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October 11, 2012, 05:16:16 AM
 #17

Update Bitinstant <--> BTC-E Enabled now

It sounds like they also adopted good security practices

Explaining the external use of their LR key with "brute forced" has me worried, I don't see how that's computationally possible: https://bitcointalk.org/index.php?topic=96831.msg1068030#msg1068030

What additional security practices are put in place in case the hackers are able to extract new replacement keys easily?



They are preparing a full write up for the community including screenshots, ect.

Did this ever happen?



did the write-up and screens happen?

Nope.

Im sure if there is enough demand, they will do it.

"In a free society, private payments should be covered by merchant-customer privilege just as attorney-client privilege covers confidential legal communication." - Jon Matonis, Director, Bitcoin Foundation
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