119,756 BTC were stolen from Bitfinex's customers...

ipanks

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Quote from: spartak_t on August 02, 2016, 07:14:12 PM

... and BitGo segregated their wallets. What a bad day/night for cryptocurrencies...

119k BTC is a big amount, they can dump market suddenly and this is what people's afraid and then from today they will sell their bitcoin and the market will get down.

the hacker will be one of the most richest man in the world now, the hacker have many many stock of bitcoin and can do whatever he/she want.

i think its time for Kypertech to chase the hacker Grin

spartak_t

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Quote from: otto_der_cyberpenner on August 03, 2016, 08:17:48 AM

Anybody knows the wallet where those funds were transferred to? Taint analysis should be quite easy if this coins are all forwarded in one transaction or one final address.

Tried to do some digging, but I have no time. This is interesting thought:

https://news.bitcoin.com/bitfinex-us-regulation-cold-storage/

otto_der_cyberpenner

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Anybody knows the wallet where those funds were transferred to? Taint analysis should be quite easy if this coins are all forwarded in one transaction or one final address.

MatTheCat

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Quote from: spartak_t on August 03, 2016, 04:13:48 AM

We are talking about 120 thousand BTC. Consider that amount + losing trust = between $1.5 and $2Bn were wiped out in the market cap of the cryptocurrencies. The loss is not only on the exchange. You could see how many alts were hurt as well.

Yep....120K BTC, which are still to be cashed out on the market........

........if the MtGox case is anything to go by, then whilst there may be flash recoveries (i.e. bounces), the next big BTC bear market is on. Initial MtGox crash took BTC down to $400, bounced back to $700, but eventual bottom was $150, some year or so down the line.

extrabyte

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Quote from: spartak_t on August 02, 2016, 07:14:12 PM

... and BitGo segregated their wallets. What a bad day/night for cryptocurrencies...

We are talking about 78 million us dollars worth of bitcoin before the recent crash, thats way too much, have they sill identified who hacked or can they track where the bitcoins are going? Or those bitcoin mixers will help covering them?

spartak_t

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Quote from: zenitzz on August 03, 2016, 04:11:47 AM

Quote from: spartak_t on August 02, 2016, 07:14:12 PM

... and BitGo segregated their wallets. What a bad day/night for cryptocurrencies...

It's a very bad news but I am not convinced that only by 120btc can make prices fall, maybe that's just a hoax news.

We are talking about 120 thousand BTC. Consider that amount + losing trust = between $1.5 and $2Bn were wiped out in the market cap of the cryptocurrencies. The loss is not only on the exchange. You could see how many alts were hurt as well.

zenitzz

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Quote from: spartak_t on August 02, 2016, 07:14:12 PM

... and BitGo segregated their wallets. What a bad day/night for cryptocurrencies...

It's a very bad news but I am not convinced that only by 120btc can make prices fall, maybe that's just a hoax news.

hgmichna

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So we still know very little about what has happened?

Does anybody have a guess how many bitcoins Bitfinex had altogether? If the stolen bitcoins are a major fraction then we have Mt. Gox 2. Bitfinex will declare bankruptcy, then all the vultures will tear out as much as possible in the form of salaries, legal fees, other costs, and after two or three years we, the Bitfinex customers, will get a share of the little bit that remains.

Perhaps somebody will go to jail for a short time for negligence. White-collar crimes are not punished harshly in this world of widespread fraud.

HyphyBTC

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Quote from: Laviathon on August 02, 2016, 07:30:01 PM

I still don't get it. There is no way they were keeping that many BTC not in some kind of cold storage with high security measures.

They don't use cold storage. Each user has their own multi-sig wallets with BitGo. The hacker used Bitfinex's credentials somehow to sign as 1 and BitGo automatically signs as 2, making the 2 out of 3 multi-signature.

Laviathon

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BCMonster.com BTC ZEN HUSH KMD ARRR VRSC ACH RFOX

Quote from: NattyLiteCoin on August 02, 2016, 07:32:20 PM

Just hardfork and rollback, seemed to work for eth.

EDIT: hit me up if any of these exchanges are serious about cyber security. It's either an inside job or pure incompetence.

I agree with your edit. I want to call shinanigans.

NattyLiteCoin

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If you don’t believe, why are you here?

Just hardfork and rollback, seemed to work for eth.

EDIT: hit me up if any of these exchanges are serious about cyber security. It's either an inside job or pure incompetence.

Laviathon

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BCMonster.com BTC ZEN HUSH KMD ARRR VRSC ACH RFOX

I still don't get it. There is no way they were keeping that many BTC not in some kind of cold storage with high security measures.

MatTheCat

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Quote from: iamnotback on August 02, 2016, 07:20:02 PM

No it is a lesson that people need to stop trusting their security to centralized entities. And they need to buy a hardware wallet.

The hard fork option is a complete abrogation of the raison d'être of blockchains.

For Bitcoin to have monetary value, it has to have exchanges where it can be readily changed for fiat currency. These exchanges must be liquid. For exchanges to be liquid, people must deposit both large amounts of BTC, and USD there, and therefore, must trust there wealth with centralised entities, run by a bunch of fucking crooks.

iamnotback

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Quote from: yudy on August 02, 2016, 06:55:08 PM

Quote from: Azael on August 02, 2016, 06:33:23 PM

Quote from: Minecache on August 02, 2016, 06:23:39 PM

5 days ago they began listing the ETC criminal coin. 5 days later they've been taken down in one of the largest hacks of BTC and ETC.

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

Do you ever get tired of spreading lies? https://www.reddit.com/r/Bitcoin/comments/4vtuxo/bitfinex_security_breach_trading_will_be_halted/d61cjwa

news about bitfinex attack hacker is true
iam very sad is about bitfinex hack, price bitcoin drop and down

119k BTC confirmed stolen.

Hackers are apparently emboldened by the community's choice to respect the rules of the blockchain.

Hopefully this will begin to put an end to centralized exchanges and a move towards DEX.

It's all good (even though I've lost 20% of the value of my BTC).

Quote from: Minecache on August 02, 2016, 06:23:39 PM

The lesson here is never get into bed with criminals because they will make sure you leave empty bagged.

No it is a lesson that people need to stop trusting their security to centralized entities. And they need to buy a hardware wallet.

The hard fork option is a complete abrogation of the raison d'être of blockchains.

spartak_t

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... and BitGo segregated their wallets. What a bad day/night for cryptocurrencies...

Topic: 119,756 BTC were stolen from Bitfinex's customers... (Read 612 times)