Bitcoin Wallet Stuck With A Negative Balance! What is this?

ayesha201009

member

Activity: 145

Merit: 10

Quote from: Lumining on December 02, 2017, 09:15:02 PM

Where or how do you find such scams? I guess it's not liek you would encounter them on a daily basis (yet?).

no it's not true, you can encounter a lot depends people your are trade.
some times double spends was used to cheat famous betting / trading site like binary option.
Just send 1 output with low fee, if the prediction is wrong, use the input and send another one with higher fees.
Sometimes with a lot of unconfirmed txs there is an high risk of such scam Sad

Lumining

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Where or how do you find such scams? I guess it's not liek you would encounter them on a daily basis (yet?).

NewdayBTC

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Activity: 76

Merit: 1

Quote from: HeRetiK on December 01, 2017, 10:11:22 AM

Quote from: carlisle1 on December 01, 2017, 06:06:18 AM

Quote from: ayesha201009 on November 30, 2017, 01:24:57 AM

Quote from: NewdayBTC on November 29, 2017, 12:47:19 PM

So this addy sent me bitcoin but the tx has been unconfirmed for like 3 days now: https://blockchain.info/address/1EWTcQPTrKeHRSQjaS1JAgdLHLBPew7D3s

If you look down at the unconfirmed tx - that is where the money going to me is. How long will this be unconfirmed?

double spend. just this. I am sorry but some one has scammed you with a fake payment.
Send one , and then use the same input to made another one with better fees. Blockchain validate the second one, and the input can't be used anymore for the first tx! Wait 1 confirmation. this is the only way to avoid these situation Sad

is this really happening?from what system the Op has been hacked?this modus
must be discussed this is alarming.is there some expert that can explain this furthermore?
and cleared as everyonw can understand and may have knowledge about this scamming
technique.

Double spend attacks are a well known attack scenario. They are why Bitcoin uses PoW and why the standard recommendation is to wait for at least 6 confirmations.

They are a rather rare sight though, especially since they become hard to pull off after the first confirmation, unless you take part in a large scale mining operation. Also usually you would see a low fee transaction as bait for the counterparty, followed by a high fee transaction back to the attacker once the attacker's counterparty has been scammed out of their part of the trade. But as mentioned by btcton, in this case there probably was a transaction accelerator service at play. Why a transaction accelerator would support an obvious double spend attempt is beyond me though.

Thanks for the insight - I Don't think the accelerators know its a DS - They just do what they are programmed to lol. And IF they are being submitted manually - I doubt that they will be looking at every single TX...

HeRetiK

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Quote from: carlisle1 on December 01, 2017, 06:06:18 AM

Quote from: ayesha201009 on November 30, 2017, 01:24:57 AM

Quote from: NewdayBTC on November 29, 2017, 12:47:19 PM

So this addy sent me bitcoin but the tx has been unconfirmed for like 3 days now: https://blockchain.info/address/1EWTcQPTrKeHRSQjaS1JAgdLHLBPew7D3s

If you look down at the unconfirmed tx - that is where the money going to me is. How long will this be unconfirmed?

double spend. just this. I am sorry but some one has scammed you with a fake payment.
Send one , and then use the same input to made another one with better fees. Blockchain validate the second one, and the input can't be used anymore for the first tx! Wait 1 confirmation. this is the only way to avoid these situation Sad

is this really happening?from what system the Op has been hacked?this modus
must be discussed this is alarming.is there some expert that can explain this furthermore?
and cleared as everyonw can understand and may have knowledge about this scamming
technique.

Double spend attacks are a well known attack scenario. They are why Bitcoin uses PoW and why the standard recommendation is to wait for at least 6 confirmations.

They are a rather rare sight though, especially since they become hard to pull off after the first confirmation, unless you take part in a large scale mining operation. Also usually you would see a low fee transaction as bait for the counterparty, followed by a high fee transaction back to the attacker once the attacker's counterparty has been scammed out of their part of the trade. But as mentioned by btcton, in this case there probably was a transaction accelerator service at play. Why a transaction accelerator would support an obvious double spend attempt is beyond me though.

carlisle1

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Quote from: ayesha201009 on November 30, 2017, 01:24:57 AM

Quote from: NewdayBTC on November 29, 2017, 12:47:19 PM

So this addy sent me bitcoin but the tx has been unconfirmed for like 3 days now: https://blockchain.info/address/1EWTcQPTrKeHRSQjaS1JAgdLHLBPew7D3s

If you look down at the unconfirmed tx - that is where the money going to me is. How long will this be unconfirmed?

double spend. just this. I am sorry but some one has scammed you with a fake payment.
Send one , and then use the same input to made another one with better fees. Blockchain validate the second one, and the input can't be used anymore for the first tx! Wait 1 confirmation. this is the only way to avoid these situation Sad

is this really happening?from what system the Op has been hacked?this modus
must be discussed this is alarming.is there some expert that can explain this furthermore?
and cleared as everyonw can understand and may have knowledge about this scamming
technique.

ayesha201009

member

Activity: 145

Merit: 10

Quote from: NewdayBTC on November 29, 2017, 12:47:19 PM

So this addy sent me bitcoin but the tx has been unconfirmed for like 3 days now: https://blockchain.info/address/1EWTcQPTrKeHRSQjaS1JAgdLHLBPew7D3s

If you look down at the unconfirmed tx - that is where the money going to me is. How long will this be unconfirmed?

double spend. just this. I am sorry but some one has scammed you with a fake payment.
Send one , and then use the same input to made another one with better fees. Blockchain validate the second one, and the input can't be used anymore for the first tx! Wait 1 confirmation. this is the only way to avoid these situation Sad

btcton

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Activity: 1302

Merit: 1007

Quote from: HeRetiK on November 29, 2017, 07:18:28 PM

Yeah, if 1BoGFV5qfEigP5pn7cqoWMfmwM8qqrtdAG is your address it looks like you've become the victim of a double-spend attack. Next time you should wait for at least 1 confirmation before accepting a payment as cleared.

It's pretty weird though, since the transaction to your address got both sent earlier and had a much higher transaction fee. I would have expected the second transaction -- the one not sent to 1BoGF(...) -- to be rejected by the network.

I am no expert, but it could have been partly influenced through cooperation with miners or by using one of those transaction accelerators that let you pay for a transaction to go through. A clever way I could see such scam going is Person A requesting bitcoin from Person B followed by Person B creating 2 transactions: the expected one with a fee low enough to not get mined immediately but high enough to be expected to be mined eventually, and the actual one with a very low fee that one would not expect to get accepted. After this, Person B colludes with a miner or pays a transaction accelerator to include the second transaction, which would be pointing towards his own wallet, inside a block. This would mean a successful double spend where the expected transaction never gets confirmed.

HeRetiK

legendary

Activity: 3108

Merit: 2177

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Yeah, if 1BoGFV5qfEigP5pn7cqoWMfmwM8qqrtdAG is your address it looks like you've become the victim of a double-spend attack. Next time you should wait for at least 1 confirmation before accepting a payment as cleared.

It's pretty weird though, since the transaction to your address got both sent earlier and had a much higher transaction fee. I would have expected the second transaction -- the one not sent to 1BoGF(...) -- to be rejected by the network.

amaclin1

sr. member

Activity: 770

Merit: 305

Which address is yours?
If 1BoGFV5qfEigP5pn7cqoWMfmwM8qqrtdAG is your address I have bad news for you: this transaction will never confirm.

( This topic should be moved to "Beginners & Help" section )

NewdayBTC

jr. member

Activity: 76

Merit: 1

So this addy sent me bitcoin but the tx has been unconfirmed for like 3 days now: https://blockchain.info/address/1EWTcQPTrKeHRSQjaS1JAgdLHLBPew7D3s

If you look down at the unconfirmed tx - that is where the money going to me is. How long will this be unconfirmed?

Topic: Bitcoin Wallet Stuck With A Negative Balance! What is this? (Read 674 times)