Another exchange goes bust. Bitcurrex loses ~2300 BTC

abel1337

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Quote from: South Park on October 29, 2016, 11:42:09 AM

Quote from: Milkduds on October 28, 2016, 03:45:21 PM

When it comes to these large amounts where exchanges get raped,it feels like there is a wide enough spot to develop a failsafe method to protect against this.
Like a program that shifts the bitcoin around in groupings,so it is constantly moving through the blockchain and when it gets altered it shows up right away as a problem and you can stop all the other bitcoins from being juggled around. Going into lock down mode! Would leave a paper trail and a pretty close time stamp as well if it could be set up.

The problem with these hacks is that most of them have never showed real proof they were hacked all, this is why the community is growing more and more skeptical about this.

Yeah thats right, Some times savotage happens. They said they were hacked by a hackers or they were attack by ddos attacks , Sometimes it is good to provide a proofs that they were being hacked or attacked. If they losed this kind of btc why did the price didnt fall instead it is increasing so fast

South Park

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Quote from: Milkduds on October 28, 2016, 03:45:21 PM

When it comes to these large amounts where exchanges get raped,it feels like there is a wide enough spot to develop a failsafe method to protect against this.
Like a program that shifts the bitcoin around in groupings,so it is constantly moving through the blockchain and when it gets altered it shows up right away as a problem and you can stop all the other bitcoins from being juggled around. Going into lock down mode! Would leave a paper trail and a pretty close time stamp as well if it could be set up.

The problem with these hacks is that most of them have never showed real proof they were hacked all, this is why the community is growing more and more skeptical about this.

Snorek

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Quote from: European Central Bank on October 28, 2016, 07:21:41 PM

Quote from: machinek20 on October 28, 2016, 06:50:29 PM

I dont think there will be a shortage, because it is in someone wallet not vanished in the air, the one that i afraid is people dont trust any exchange site anymore because this is not the first time and with this incident it will affect the price

there are enough people back on bitfinex and they haven't provided any explanation of what happened. traders either don't care or choose to forget and cross their fingers. weird but that's how it is.

Fortunately for us it was local exchange. We should be thankful that this hack didn't cause chain reaction and impacted to price of BTC.

From what I gathered, Bitcurex was hacked on October 13. This is one of the main addresses of Bitcurex: 1K2PKGPGrYTQjPohXjDgbjeRtynGAZU9cF we can see large portion of bitcoin being withdrawn from that address.
It took them more than a week to admit they were hacked.

mogrith

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Quote from: Carlsen on October 29, 2016, 01:16:11 AM

Would it be possible to create a decentralized exchange running by the same principles bitcoin does?
I mean based on a blockchain? Rewards could be exchange fees. About 0.15 % of each transaction.

look into bitsquare

https://bitsquare.io/][url]https://bitsquare.io/[/url]

Carlsen

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Would it be possible to create a decentralized exchange running by the same principles bitcoin does?
I mean based on a blockchain? Rewards could be exchange fees. About 0.15 % of each transaction.

clickerz

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Quote from: Doamader on October 28, 2016, 05:33:14 PM

I do believe this is just a admin that scammed their costumers, otherwise we would see some big warning about another hacker sucessfull auction, as stated this happened at day 13 October why just now people realize it, bitfinex went from day to night and all say, looks like the admin had hidden the reasons and maybe suspended the cashouts till he could hide anymore.

That is what we suspect also,and the possibility is endless. As a trader,we have used that exchanges also as we arbitrage sometimes of coins which are profitable.And they say its IT damage network... just weird

QuestionAuthority

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Quote from: Wapinter on October 28, 2016, 05:35:29 PM

Quote from: CoinBreader on October 28, 2016, 05:28:21 AM

And even after that "accident" the btc price is rising... everything is well organized ! lol

rising because people fear there would be shortage of bitcoin in market.Maybe this news will bring further hike in bitcoin price

It's rising because Bitcoin price is controlled entirely by day traders and they're all insane. They will use any reason as an excuse to rally. LOL

European Central Bank

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Quote from: machinek20 on October 28, 2016, 06:50:29 PM

I dont think there will be a shortage, because it is in someone wallet not vanished in the air, the one that i afraid is people dont trust any exchange site anymore because this is not the first time and with this incident it will affect the price

there are enough people back on bitfinex and they haven't provided any explanation of what happened. traders either don't care or choose to forget and cross their fingers. weird but that's how it is.

machinek20

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Quote from: Wapinter on October 28, 2016, 05:35:29 PM

Quote from: CoinBreader on October 28, 2016, 05:28:21 AM

And even after that "accident" the btc price is rising... everything is well organized ! lol

rising because people fear there would be shortage of bitcoin in market.Maybe this news will bring further hike in bitcoin price

I dont think there will be a shortage, because it is in someone wallet not vanished in the air, the one that i afraid is people dont trust any exchange site anymore because this is not the first time and with this incident it will affect the price

shinratensei_

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Quote from: Wapinter on October 28, 2016, 05:35:29 PM

Quote from: CoinBreader on October 28, 2016, 05:28:21 AM

And even after that "accident" the btc price is rising... everything is well organized ! lol

rising because people fear there would be shortage of bitcoin in market.Maybe this news will bring further hike in bitcoin price

But comparing with the previous incident this cases are not giving a sensitive impact for the bitcoiners community, but that's already enough for giving a shocked for the people who storing in them and the trend of rising are always gone.

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Quote from: Wapinter on October 28, 2016, 05:35:29 PM

Quote from: CoinBreader on October 28, 2016, 05:28:21 AM

And even after that "accident" the btc price is rising... everything is well organized ! lol

rising because people fear there would be shortage of bitcoin in market.Maybe this news will bring further hike in bitcoin price

why would there be a shortage of bitcoin in the market, satoshi can be broken down to smaller units i guess ,the price rise is mainly due to economic instability and china

Wapinter

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Quote from: CoinBreader on October 28, 2016, 05:28:21 AM

And even after that "accident" the btc price is rising... everything is well organized ! lol

rising because people fear there would be shortage of bitcoin in market.Maybe this news will bring further hike in bitcoin price

Doamader

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I do believe this is just a admin that scammed their costumers, otherwise we would see some big warning about another hacker sucessfull auction, as stated this happened at day 13 October why just now people realize it, bitfinex went from day to night and all say, looks like the admin had hidden the reasons and maybe suspended the cashouts till he could hide anymore.

Esphere.in

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These kind of big hacks are occurring every now and then and what are they doing to secure the safety of the clients ,after every hack they just release a statement that it was hacked and after that what happens is the price of bitcoin goes down and the clients loses their coins.we need changes to these situation and there should be a guarantee to the clients wealth in case of a hack

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Quote from: European Central Bank on October 28, 2016, 09:02:18 AM

sad that it has to happen. i dunno if this means exchanges will consolidate into bulletproof ones or whether that leaves the exchanges standing even juicier targets.

i hope they're taking their opsec ever more seriously.

Has this been confirmed to be a hack, or is it an 'inside hack'? Either way, none of this is surprising and it'll . keep happening again as long as these exchanges go unregulated. Hate to say it. But this kind of thing is eventually going to attract the attention of gov't agencies. Law enforcement and everything else.

European Central Bank

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Quote from: Milkduds on October 28, 2016, 03:45:21 PM

When it comes to these large amounts where exchanges get raped,it feels like there is a wide enough spot to develop a failsafe method to protect against this.

I would like to see categorical evidence of one of these hacks not being an inside job before looking further afield. gox, this place, bitfinex, cryptsy, bter and on and on and on, there's no explanation for any of them.

Milkduds

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When it comes to these large amounts where exchanges get raped,it feels like there is a wide enough spot to develop a failsafe method to protect against this.
Like a program that shifts the bitcoin around in groupings,so it is constantly moving through the blockchain and when it gets altered it shows up right away as a problem and you can stop all the other bitcoins from being juggled around. Going into lock down mode! Would leave a paper trail and a pretty close time stamp as well if it could be set up.

European Central Bank

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Quote from: Victorycoin on October 28, 2016, 03:33:38 PM

This is certainly bad news for the cryptocurrency industry and a number of people are likely to lose faith with it. Obviously it is now a trend, big and small exchanges alike. If something drastic is not done about this ugly situation, it might turn around to become the nail that nails the coffin of this awesome discovery. I learnt a big lesson from Cryptsy - an exchange should never be seen as a bank!

no one should be surprised any more. but i'm still surprised that people choose to put money into amateur hour shit holes like this place and bitfinex.

the chances are that you live somewhere where there's a more solid exchange. it's up to bitcoin users to support them with volume so stuff like this is left behind.

n691309

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I checked their thread and seems that they are not much active here in forum, and the OP of that thread hasn't been online for almost 2 months, but the hacks in these years has been increased too much which are damaging the bitcoin.

Victorycoin

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Quote from: isen on October 28, 2016, 12:06:58 AM

I am not surprised and I am afraid that more "hacks" like this will follow soon, people need to learn from previous mistakes and start realizing before it's too late that keeping their Bitcoins in centralized exchanges and online wallets is very risky.
Any predictions on who's next? Roll Eyes

This is certainly bad news for the cryptocurrency industry and a number of people are likely to lose faith with it. Obviously it is now a trend, big and small exchanges alike. If something drastic is not done about this ugly situation, it might turn around to become the nail that nails the coffin of this awesome discovery. I learnt a big lesson from Cryptsy - an exchange should never be seen as a bank!

Topic: Another exchange goes bust. Bitcurrex loses ~2300 BTC (Read 3072 times)