Alitin Mint Coin Breach - page 6. | Bitcointalksearch.org

coin@coin

legendary

Activity: 1722

Merit: 1000

Oh boy... this is very odd. Alitin are very nice looking coins.

Very sad to hear another Physical BTC manufacturer having this sort of issue. Huh

We should see how this unfolds, glad I don't have any Alitin coins, been tempted to get a few in the past but never did.

Sucks very much.

However how do we know for sure 50/60 coins were actually emptied by a thief rather than people just emptying themselves because of BTC price hike or to protect themselves from theft?

TheNewAnon135246

legendary

Activity: 2198

Merit: 1989

฿uy ฿itcoin

Quote from: Ticked on March 07, 2017, 09:12:34 AM

Quote from: RichardForsyth on January 02, 2014, 03:01:15 PM

And only one person ever sees the private keys before they are destroyed from our records--and that person is me. I am the CEO and I engrave the coins myself. I also do the ciphers and much of the packaging. Tamper proofing cases like this is a challenge. It's slow and tedious work. But thorough. We built in 6-8 weeks just in case we got big orders. We would rather our customers be pleasantly surprised than disappointed.

I see a lot of posts regarding who had access to the coins before they were slabbed, but we've already had a statement regarding this from Alitin.

That makes the whole thing a lot more clear. I hate to admit it but I tend to agree with QS here.....

minerjones

legendary

Activity: 3206

Merit: 3596

Seems like there could have been a whole bunch of people who could have had access to the keys
Here is a list of all of their corporate officers.... seems like Risk Management failed Tongue

Weird that all 3 risk managers are related???

http://alitin.com/profile.html

Ticked

sr. member

Activity: 1526

Merit: 473

Quote from: RichardForsyth on January 02, 2014, 03:01:15 PM

And only one person ever sees the private keys before they are destroyed from our records--and that person is me. I am the CEO and I engrave the coins myself. I also do the ciphers and much of the packaging. Tamper proofing cases like this is a challenge. It's slow and tedious work. But thorough. We built in 6-8 weeks just in case we got big orders. We would rather our customers be pleasantly surprised than disappointed.

I see a lot of posts regarding who had access to the coins before they were slabbed, but we've already had a statement regarding this from Alitin.

minerjones

legendary

Activity: 3206

Merit: 3596

Quote from: CanaryInTheMine on March 07, 2017, 01:06:50 AM

Quote from: bitenvy on March 06, 2017, 11:45:17 PM

I have asked once again about public list for coins stolen, information about who had access to private keys, etc. JR refuses to answer any of my questions now that the FBI is involved. I will continue to find all the addresses that I can that are funded/not funded to help out. I am up to 66 coins that have had funds stolen. I have also found a few that are still funded. But, not very many.

If law enforcement is involved he is not going to answer any questions outside of the investigation, especially if he talked to a lawyer, who would tell him no say nothing.

Has there been any proof that the authorities have been contacted??
And if he talked to lawyer, seems like there is something to hide already.....

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

Quote from: minerjones on March 07, 2017, 08:50:25 AM

Quote from: CanaryInTheMine on March 07, 2017, 01:06:50 AM

Quote from: bitenvy on March 06, 2017, 11:45:17 PM

I have asked once again about public list for coins stolen, information about who had access to private keys, etc. JR refuses to answer any of my questions now that the FBI is involved. I will continue to find all the addresses that I can that are funded/not funded to help out. I am up to 66 coins that have had funds stolen. I have also found a few that are still funded. But, not very many.

If law enforcement is involved he is not going to answer any questions outside of the investigation, especially if he talked to a lawyer, who would tell him no say nothing.

Has there been any proof that the authorities have been contacted??
And if he talked to lawyer, seems like there is something to hide already.....

First, it is pure conjecture he has hired a lawyer.
Second, it would be wise to do so. Hiring a lawyer does not have anything to do with guilt.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

Quote from: bitenvy on March 07, 2017, 02:27:04 AM

x2. Adam Smith coins had 2BTC on them. So it's more like $167,000+.

Yes, my calculation is incorrect and yours is correct.

Also, there is a possibility they will catch the thief. It is a very stupid crime. There is a very small finite group of people that ever had access to the lists of private keys. The thief is one of those people. Since there is such a small group of possible suspects there is a chance the thief will be caught.

They will seize all of the thief's assets so even if he sold the BTC there is a chance we might get paid back.

Of course, I am not holding my breath waiting for this to happen.

But in the mean time I am suggesting that any claim on any of the recovered funds will probably involve proving you have the swept or accidentally unfunded coin.

So my suggestion is to keep your coins and do not sell them to all of these people saying they want to buy the silver unless you are aware that you may not be able to make a future claim - the buyer will get any future claim.

Just a thought.

bitenvy

sr. member

Activity: 296

Merit: 250

x2. Adam Smith coins had 2BTC on them. So it's more like $167,000+.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

Quote from: bitenvy on March 07, 2017, 01:24:40 AM

Quote from: BurtW on March 07, 2017, 01:16:49 AM

What is the total amount of coins stolen so far?

I have found 66, but having a hard time finding any more that were stolen on 2/26. I'm starting to research a different way to find other addresses, which is why I have found a few funded coin addresses.

So 66 + the unfunded coin I have = 67 so let's call it 67 x 1300 = $87,100

That is a good chunk of change.

They must know every single person that ever had access to the private keys. The pattern of theft is also a great clue as they can correlate the batches to the people who had access. So, I think there is a chance they will catch the bastard.

These things take time, usually months, so I would not expect a quick turn around on this.

bitenvy

sr. member

Activity: 296

Merit: 250

Quote from: BurtW on March 07, 2017, 01:16:49 AM

What is the total amount of coins stolen so far?

I have found 66, but having a hard time finding any more that were stolen on 2/26. I'm starting to research a different way to find other addresses, which is why I have found a few funded coin addresses.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

What is the total amount of coins stolen so far?

bitenvy

sr. member

Activity: 296

Merit: 250

Yeah, I've seen this all play out before. JR has assured me I will get a refund "this week". I will let everyone know if this even happens.

CanaryInTheMine

donator

Activity: 2352

Merit: 1060

between a rock and a block!

Quote from: bitenvy on March 06, 2017, 11:45:17 PM

I have asked once again about public list for coins stolen, information about who had access to private keys, etc. JR refuses to answer any of my questions now that the FBI is involved. I will continue to find all the addresses that I can that are funded/not funded to help out. I am up to 66 coins that have had funds stolen. I have also found a few that are still funded. But, not very many.

If law enforcement is involved he is not going to answer any questions outside of the investigation, especially if he talked to a lawyer, who would tell him no say nothing.

Quickseller

copper member

Activity: 2996

Merit: 2374

Quote from: bitenvy on March 06, 2017, 11:45:17 PM

I have asked once again about public list for coins stolen, information about who had access to private keys, etc. JR refuses to answer any of my questions now that the FBI is involved. I will continue to find all the addresses that I can that are funded/not funded to help out. I am up to 66 coins that have had funds stolen. I have also found a few that are still funded. But, not very many.

TBH, my interpretation of the situation is that this guy is trying to delay his customers from contacting law enforcement by both claiming that the FBI has been contacted and by promising that the BTC will be reimbursed (yet offers no specifics on this).

IMO, the overwhelmingly most likely scenario is that he kept (a portion of) the private keys, and decided to redeem the coins with BTC trading at ATH, and if this is not the case, then the private keys were stolen due to his own gross negligence.

BurtW

legendary

Activity: 2646

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All paid signature campaigns should be banned.

This is strange. I bought two coins. The first one is an Adam Smith number 60/600.

https://blockchain.info/address/1QLQDk2KotPqqBjQQK9atEqmmmjBZySPwc

It was swept 2017-02-26 02:31:26, so I lost 2 BTC on that deal.

My second coin is a Joan of Arc number 17/600. But when I went to check on it I found that it had never been funded! Were we supposed to fund these ourselves? Check it out:

https://blockchain.info/address/1KzvorTcd6W497eYdk7Jc9U1YLNTF1A6LK

When I bought it I assumed it was funded. I am sure I paid more than 1 BTC for the thing. What is the deal with that?

bitenvy

sr. member

Activity: 296

Merit: 250

I have asked once again about public list for coins stolen, information about who had access to private keys, etc. JR refuses to answer any of my questions now that the FBI is involved. I will continue to find all the addresses that I can that are funded/not funded to help out. I am up to 66 coins that have had funds stolen. I have also found a few that are still funded. But, not very many.

BitcoinNewsMagazine

legendary

Activity: 1806

Merit: 1164

Quote from: bonefix on March 06, 2017, 07:14:02 PM

I have 2 Adam Smiths and 2 Jean D'Arcs purchased in August 2015.

One of the Adam Smiths has been compromised.

18maxv3kVNNKUE9NZhcYcfHhcRrtSXC8eE

The others remain funded. This implies that the perpetrator has either not raided all the coins or else had limited access to the private keys to a batch of Adam Smiths. I have sent Richard the batch number of the breached and intact coins which may help in identifying the timeline of when / who was involved.

The affected coin number is 113/600 but my 118/600 was not affected in the 26/2/17 theft.

Resale market just dropped to zero. And how can you be sure the balance on your other coins will still be there tomorrow? I would get the bitcoin safe and call it a day.

msin

legendary

Activity: 1470

Merit: 1004

Quote from: bonefix on March 06, 2017, 07:14:02 PM

I have 2 Adam Smiths and 2 Jean D'Arcs purchased in August 2015.

One of the Adam Smiths has been compromised.

18maxv3kVNNKUE9NZhcYcfHhcRrtSXC8eE

The others remain funded. This implies that the perpetrator has either not raided all the coins or else had limited access to the private keys to a batch of Adam Smiths. I have sent Richard the batch number of the breached and intact coins which may help in identifying the timeline of when / who was involved.

The affected coin number is 113/600 but my 118/600 was not affected in the 26/2/17 theft.

You may want to consider cracking it and redeeming. Or wait, but if there is a major sweep of coins then you probably won't be reimbursed. I'd guess the market for these is pretty much done.

bonefix

newbie

Activity: 39

Merit: 0

I have 2 Adam Smiths and 2 Jean D'Arcs purchased in August 2015.

One of the Adam Smiths has been compromised.

18maxv3kVNNKUE9NZhcYcfHhcRrtSXC8eE

The others remain funded. This implies that the perpetrator has either not raided all the coins or else had limited access to the private keys to a batch of Adam Smiths. I have sent Richard the batch number of the breached and intact coins which may help in identifying the timeline of when / who was involved.

The affected coin number is 113/600 but my 118/600 was not affected in the 26/2/17 theft.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

Quote from: FFrankie on March 06, 2017, 12:59:10 PM

Quote from: msin on March 06, 2017, 12:56:46 PM

Quote from: BurtW on March 06, 2017, 12:47:53 PM

OK, we can hope that they swept all the private keys they had, they did not have them all, and so the rest of the coins are safe. Hope.

I don't think it really matters, people are cracking the cases, the market for Alitin coins is pretty much dead at this point.

I really like the design of them, I will buy a cracked/unfunded coin. Please PM me

I may have two for sale at some point (I am at work and cannot check my coins but from what I hear they are probably both empty).

Topic: Alitin Mint Coin Breach - page 6. (Read 6088 times)