Attacker Returns $100K to Gate.io after Ethereum Classic 51% Attack

damberg

full member

Activity: 658

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Quote from: lobo13hf on January 15, 2019, 07:53:37 AM

Quote from: damberg on January 14, 2019, 11:19:25 AM

What a virtuous hacker! He probably wanted just to prove that it is possible, and returned money to make the case even more exposed to media.

How it being possible while the total amount that already stolen caused by the double spend attack was more than 1.1 millions dollars. I guess they have an intention to tell something to the ETC developers. Ummm the chain still centralized at this moment.

The message to ETC developers is very clear - there are vulnerabilities in the chain. ETC went a long way since its creation and developers should take time to reevaluate its future direction.

Script3d

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Activity: 1232

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Quote from: batang_bitcoin on January 15, 2019, 07:11:14 AM

Quote from: Script3d on January 15, 2019, 06:37:47 AM

The hacker is probably a 50/50, White hat and Black hat, probably the hacker wants to raise a voice to improve the security system of exchanges so it won't happen again, who knows who will he attack again.

We can't be sure of that but he still stole the money though he returned it. If his intention was to strengthen ones security, he should left a message or hint after returning it or maybe that's already the message.

That's the message probably, who returns stolen money without any intention in it, im sure there are some intention behind this, probably the hacker feels guilty to what he did, im sure the exchange will strengthen its security whether the hacker will return the funds or not.

lobo13hf

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Quote from: damberg on January 14, 2019, 11:19:25 AM

What a virtuous hacker! He probably wanted just to prove that it is possible, and returned money to make the case even more exposed to media.

How it being possible while the total amount that already stolen caused by the double spend attack was more than 1.1 millions dollars. I guess they have an intention to tell something to the ETC developers. Ummm the chain still centralized at this moment.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Quote from: Prompyboo on January 14, 2019, 11:46:55 AM

People say that it was a "white hacker" who wanted to indicate the inferiority of this coin. he returned the money because it was not his main goal

We can't be sure if what was his main goal but he stole the funds and returned it later.

It's unethical in the first place that you stole any belongings or funds online by giving an headache to the company itself. Anyway, a good news that it was returned.

Quote from: Script3d on January 15, 2019, 06:37:47 AM

The hacker is probably a 50/50, White hat and Black hat, probably the hacker wants to raise a voice to improve the security system of exchanges so it won't happen again, who knows who will he attack again.

We can't be sure of that but he still stole the money though he returned it. If his intention was to strengthen ones security, he should left a message or hint after returning it or maybe that's already the message.

Script3d

hero member

Activity: 1232

Merit: 503

The hacker is probably a 50/50, White hat and Black hat, probably the hacker wants to raise a voice to improve the security system of exchanges so it won't happen again, who knows who will he attack again.

Adunni6758

jr. member

Activity: 420

Merit: 1

This is indeed difficult to understand, but what I can deduce from it is that, he might be testing his skill as an hacker, just to see if it will work.
Such person with a soft heart, should be employed by exchanges to help work on their security.
An hacker who can penetrate that easily into an exchange that has put some security measures in place, should be able to fortify the exchange with good security that can't be easily bridged.

tamango

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This is a very strange behaviour but I'm really scared about the possibility of a 51% control attack like that was made on ETC.....

LickKing

member

Activity: 420

Merit: 10

Can't comment in good faith. I think this is a great technician, or he is a whale. It doesn't like cheap and cheap. But this time I successfully promoted myself. This is a reminder. It is warning people.

^BuTcH^

full member

Activity: 671

Merit: 103

Moni

Actually during attack more money were gained, so what about another part?
Anyway this attack on POW showed us a lot. We have think about methods to improve it in future!

Prompyboo

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World's First Crowd Owned Cryptocurrency Exchange

People say that it was a "white hacker" who wanted to indicate the inferiority of this coin. he returned the money because it was not his main goal

jeromix

copper member

Activity: 266

Merit: 2

Ako Bayot!

Quote from: vadimkr on January 14, 2019, 10:13:27 AM

Gate.io reports that the exchange has received $100K back from the same enigmatic hacker who executed the Ethereum Classic 51% attack without any explanation why he did it or returned the money.

https://all-stocks.net/ethical-hacker-attacker-returns-100k-to-gate-io-after-ethereum-classic-51-attack/

Probably as the article says it all? For now we have to wait on what the hacker really want to say something to all of us who are doing cryptocurrency. Pretty sure enough that the crypto owners had already received the message and that is to secure their system so as not to get another hacking activity.

It was good that hacker had returned the money but still exchanges and block chain technology must be secured first by detecting possible loopholes in the system like this one the ETC.

terrific

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Wow first time to see a hacker returns a good amount of money.
He did wrong for attacking the exchange and that's still what we must think of.
Although he returned it, I don't know what's on his mind but that's a good thing he did.

HippiePyro

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Activity: 490

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A non technical guy in a technical world

At least there are some decent hackers out there. Quite fortunate for those who use the exchange.

damberg

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What a virtuous hacker! He probably wanted just to prove that it is possible, and returned money to make the case even more exposed to media.

elite070

copper member

Activity: 112

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www.codex.one

Quote from: Awesomus Maximus on January 14, 2019, 10:25:24 AM

It could very well be that the attacker just wanted to prove a point. To let them know it is doable. Gate.io and the other exchanges should also make something to protect their funds better against 51% attacks. For one they can increase the confirmation time. And these less important alts should do something to increase their hash power, although I know it is a hard thing to do in market like this.

That might as well is the plan that I think. Well, the hacker is well reputable he is good, that should be the kind of hacker that the industry should hire. Exposing just the vulnerabilities in order to tighten the security of our cryptocurrency.

KingDome

jr. member

Activity: 434

Merit: 1

He was a nice and a humble guy who prove that there are still people who are bad, but their heart is clean as my house.

Awesomus Maximus

member

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It could very well be that the attacker just wanted to prove a point. To let them know it is doable. Gate.io and the other exchanges should also make something to protect their funds better against 51% attacks. For one they can increase the confirmation time. And these less important alts should do something to increase their hash power, although I know it is a hard thing to do in market like this.

vadimkr

newbie

Activity: 60

Merit: 0

Gate.io reports that the exchange has received $100K back from the same enigmatic hacker who executed the Ethereum Classic 51% attack without any explanation why he did it or returned the money.

https://all-stocks.net/ethical-hacker-attacker-returns-100k-to-gate-io-after-ethereum-classic-51-attack/

Topic: Attacker Returns $100K to Gate.io after Ethereum Classic 51% Attack (Read 184 times)