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Topic: Bitfinex HACKED - funds stolen ! - page 16. (Read 32117 times)

legendary
Activity: 1148
Merit: 1048
August 07, 2016, 10:15:51 AM
Jerry Seinfeld to Police Officer: my bike was stolen!

Police: ok, I'll take a report.

Seinfeld: I'm never going to see my bike again, am I?

Police: No, no your not.

Seinfeld: So why are you making a report?

Police: It makes people feel good, like they've done something. I don't really turn in these reports, it's too much work for nothing.





Just forget about your bitcoins. You're never going to see them again and the police won't do anything, even if they knew what Bitcoin is and knew how to trace them.

and what about Bitfinex? forget it too? Smiley  let it run the same business as nothing happened?

Oh, have they reopened already? LOL

Bitfinex is gone. They will not reopen.

If they reopened and anyone was stupid enough to give them money then they deserve to lose it. I call that, "paying the dumbass tax". That's the tax you have to pay because you're a dumbass. The owners of Bitfinex must know their business is over. Then again, people paid the dumbass tax to ButterFuck Labs for mining equipment over a year after it was well known that they were thieves.

You would think that, and then you read about guys buying more ETH, or sending HashOcean additional monies. It's like children playing here, you can never trust the 'common sense' response to an issue. Lost money? Throw more money at it.

Dumbass tax is brilliant, and I will be using this phrase liberally in the altcoin section from now on. It pretty much sums up this entire sphere, lol. Thank you sir Smiley

You get a cookie.
hero member
Activity: 1204
Merit: 500
August 07, 2016, 10:14:44 AM
Well, I heard that 120k BTC has been stolen from the site, and make bitcoin prices down lately. but, I think bitcoin prices bounce back and will probably go back to the previous price, I think, if bitfinex not hacked, bitcoin prices may reach $ 750 - $ 800 in this month, but everything has happened
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
August 07, 2016, 10:07:08 AM
Jerry Seinfeld to Police Officer: my bike was stolen!

Police: ok, I'll take a report.

Seinfeld: I'm never going to see my bike again, am I?

Police: No, no your not.

Seinfeld: So why are you making a report?

Police: It makes people feel good, like they've done something. I don't really turn in these reports, it's too much work for nothing.





Just forget about your bitcoins. You're never going to see them again and the police won't do anything, even if they knew what Bitcoin is and knew how to trace them.

and what about Bitfinex? forget it too? Smiley  let it run the same business as nothing happened?

Oh, have they reopened already? LOL

Bitfinex is gone. They will not reopen.

If they reopened and anyone was stupid enough to give them money then they deserve to lose it. I call that, "paying the dumbass tax". That's the tax you have to pay because you're a dumbass. The owners of Bitfinex must know their business is over. Then again, people paid the dumbass tax to ButterFuck Labs for mining equipment over a year after it was well known that they were thieves.


BTW: The real loss in all this is consumer confidence. The more these incidents happen the more people look at Bitcoin as a den of thieves. The people losing all their bitcoins to these constant crooked businesses and exchanges will leave Bitcoin forever and start talking shit about it to anyone that will listen.
legendary
Activity: 1456
Merit: 1004
August 07, 2016, 09:14:13 AM
Jerry Seinfeld to Police Officer: my bike was stolen!

Police: ok, I'll take a report.

Seinfeld: I'm never going to see my bike again, am I?

Police: No, no your not.

Seinfeld: So why are you making a report?

Police: It makes people feel good, like they've done something. I don't really turn in these reports, it's too much work for nothing.





Just forget about your bitcoins. You're never going to see them again and the police won't do anything, even if they knew what Bitcoin is and knew how to trace them.

and what about Bitfinex? forget it too? Smiley  let it run the same business as nothing happened?
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
August 07, 2016, 08:28:52 AM
Jerry Seinfeld to Police Officer: my bike was stolen!

Police: ok, I'll take a report.

Seinfeld: I'm never going to see my bike again, am I?

Police: No, no your not.

Seinfeld: So why are you making a report?

Police: It makes people feel good, like they've done something. I don't really turn in these reports, it's too much work for nothing.





Just forget about your bitcoins. You're never going to see them again and the police won't do anything, even if they knew what Bitcoin is and knew how to trace them.
legendary
Activity: 1610
Merit: 1183
August 07, 2016, 08:25:44 AM
The worst part of this is the fact that a lot of people that lost their funds on Bitfinex will never come back to Bitcoin because they will be too frustrated to deal with it. This is why we need a solution for this mess that centralized exchanges are.
legendary
Activity: 1456
Merit: 1004
August 07, 2016, 08:22:57 AM
And what now? Every site need to be carful and to pay a lot for good protection. Even that can guarantee total security I think.
There will be hackers who will try to steal money from different sites. Only thing we can do is to check how much some site protect itself, and if you think they have good team for that only then invest your money there.
You probably didn't read the topic or about the exchange before commenting. THe site was backed and secured with multisig with part of the signature with Bitgo. They were very secure, and it still hasn't been figured out how exactly they were able to get the money out without the 2 signatures.

correct and more than that, they didn't provide any evidence for the so called "hack"; a BTC address(it's not quite a proof but anyway)..... that's why we may call Bitfinex as being a scam.
legendary
Activity: 1372
Merit: 1000
August 07, 2016, 08:15:28 AM
And what now? Every site need to be carful and to pay a lot for good protection. Even that can guarantee total security I think.
There will be hackers who will try to steal money from different sites. Only thing we can do is to check how much some site protect itself, and if you think they have good team for that only then invest your money there.
You probably didn't read the topic or about the exchange before commenting. THe site was backed and secured with multisig with part of the signature with Bitgo. They were very secure, and it still hasn't been figured out how exactly they were able to get the money out without the 2 signatures.
sr. member
Activity: 268
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
August 07, 2016, 08:12:45 AM
its really sad to see that such stuff happens, fortunately i didnt have any money in it
legendary
Activity: 2772
Merit: 1112
Leading Crypto Sports Betting & Casino Platform
August 07, 2016, 08:06:24 AM
And what now? Every site need to be carful and to pay a lot for good protection. Even that can guarantee total security I think.
There will be hackers who will try to steal money from different sites. Only thing we can do is to check how much some site protect itself, and if you think they have good team for that only then invest your money there.
Yeah right, the way we analyze and observe the site that we will use is a good thing to know the security system. But you must also remember, if the above has been done but we can still lose money then it is the name of the investment risk. So it is better if we invest the money that is not used and if the money is lost at any time we are ready and not too dizzy.
hero member
Activity: 1694
Merit: 502
★Bitvest.io★ Play Plinko or Invest!
August 07, 2016, 07:59:48 AM
And what now? Every site need to be carful and to pay a lot for good protection. Even that can guarantee total security I think.
There will be hackers who will try to steal money from different sites. Only thing we can do is to check how much some site protect itself, and if you think they have good team for that only then invest your money there.
legendary
Activity: 1372
Merit: 1000
August 07, 2016, 07:50:04 AM
today many users bitfinex who lost their bitcoin. some users even lose all bitcoin them because they keep all bitcoin owned in bitfinex. This is an event that should be a lesson for the future of all bitcoin users feel safe.
This is not new, this lesson should have been learnt the first time Mtgox happened. The problem is, its the traders who keep their coins on the exchange, as there is no other option, they have. They tend to lose out on the most. As for others, yes a lesson should have been learnt long back. Its clearly not a first hack, and to me its disappointing to see the amount.
hero member
Activity: 591
Merit: 501
Scavenger of Crypto Sorrow
August 07, 2016, 06:23:31 AM
today many users bitfinex who lost their bitcoin. some users even lose all bitcoin them because they keep all bitcoin owned in bitfinex. This is an event that should be a lesson for the future of all bitcoin users feel safe.

That's plain bad to keep all your funds on a single exchange. It's better to spread them over a few exchanges. In general, you keep there enough funds for day trading and withdraw to your wallet what you reserve for long term investments.
legendary
Activity: 1526
Merit: 1001
August 07, 2016, 06:17:22 AM
today many users bitfinex who lost their bitcoin. some users even lose all bitcoin them because they keep all bitcoin owned in bitfinex. This is an event that should be a lesson for the future of all bitcoin users feel safe.
legendary
Activity: 1288
Merit: 1087
August 07, 2016, 06:16:47 AM

As far as I know it affects only currency impaired i.e btc. No altcoin balances would be abated to clog up the bitcoin leak.


Wrong. it's everyone and everything. the only people who ain't gonna be relieved of their funds are people who deposited after the hack was discovered.
legendary
Activity: 1442
Merit: 1014
August 07, 2016, 06:10:35 AM
I think losing 36% if better than Bitfinex going full MtGox and at least they notified users straight away instead of operating as usual like Cryptsy and those 'in the know' managing to take most of their BTC and everybody else losing everything. Not an ideal solution though.

Do you know if it will be 36% of BTC or 36% of all Alt coins too?

As far as I know it affects only currency impaired i.e btc. No altcoin balances would be abated to clog up the bitcoin leak.

Im OK albeit not entirely happy with the proposed way of loss socialization, and might add that bitfinex could have easily made neat profits from shorts before announcing the hack and use those for hedging against collateral damage that exchange had taken in a result of the hack.

Instead they coerce ridiculous haircut on their customers' balances. Badass move but could be the only possible option to make as more ppl as possible as whole as possible.
It is amazing that they are still trying to stay on the market. If so, their efforts and conditions, nothing more than a search for opportunities to return or to recoup their losses, rather than their clients.

It will be interesting to see what happens if they go back online. I suspect there will be a mass exodus of customers due to lack of trust. Most companies have simply folded after an attach of such magnitude. I'm sure if they do get back on track security will be a big focus.

I agree.
Many people will withdraw everything they have left over there and either switch to other exchanges or will stop trading for a while.
The next few days will be very interesting to watch all that and I hope Finex will come out with some clear informations and not just meaningless mumbling. This whole thing still smells extremely fishy!
legendary
Activity: 1274
Merit: 1000
August 07, 2016, 06:07:50 AM
I haven't been checking out the situation lately so can someone tell me what has happened now?
So 36% of their btcoins got stolen? Was 120k 36% of their bitcoins or 36% of 120k bitcoins was stolen? I mean how much is stolen now?
legendary
Activity: 1484
Merit: 1029
August 07, 2016, 05:53:12 AM
I think losing 36% if better than Bitfinex going full MtGox and at least they notified users straight away instead of operating as usual like Cryptsy and those 'in the know' managing to take most of their BTC and everybody else losing everything. Not an ideal solution though.

Do you know if it will be 36% of BTC or 36% of all Alt coins too?

As far as I know it affects only currency impaired i.e btc. No altcoin balances would be abated to clog up the bitcoin leak.

Im OK albeit not entirely happy with the proposed way of loss socialization, and might add that bitfinex could have easily made neat profits from shorts before announcing the hack and use those for hedging against collateral damage that exchange had taken in a result of the hack.

Instead they coerce ridiculous haircut on their customers' balances. Badass move but could be the only possible option to make as more ppl as possible as whole as possible.
It is amazing that they are still trying to stay on the market. If so, their efforts and conditions, nothing more than a search for opportunities to return or to recoup their losses, rather than their clients.

It will be interesting to see what happens if they go back online. I suspect there will be a mass exodus of customers due to lack of trust. Most companies have simply folded after an attach of such magnitude. I'm sure if they do get back on track security will be a big focus.
hero member
Activity: 1029
Merit: 712
August 07, 2016, 05:31:48 AM
"Yeah only btc got jacked, but if you used our exchange you now have 30% less than you did. "

Why do exchanges need centralized wallets? If everything is on the chain shouldn't you be able to use your own private wallet to trade? Why is there no exchange where you input your address and use that instead of having to deposit to the exchange? The exchange could pull the data on how many coins are in the address. You aren't supposed to be able to double spend thanks to the infallible block chain so it shouldn't be an issue of "what if the funds aren't actually in the wallet" Seems not so difficult imo. Yet we all take part in this bullshit of giving out money to some anonymous assholes in hopes that it will be safe. Is cryptsy even around any more? That was THE exchange for how long. The system is flawed. By continuing to use it it just gives free license for this shit to take place time and time again. All for what? trading coins like they are stocks. People realize how fucking idiotic this is, no? It is almost, almost, as stupid as the good faith of the us of a backing the value of the dollar. ALMOST.

What do i know? Random douche bag behind a screen all the same. I know none of this feels right though.

I'm thinking off the top of my head here, but mainly because the blockchain cannot support the requirements of an exchange, either functionally or in terms of capacity, they are really fundamentally different things.

Just regarding capacity think about how many trades the larger exchanges are handling - during busy periods just one exchange will be far, far in excess of the 3 tps capacity of the BTC blockchain.

Moreover, trades are frequently conditional - e.g. buy at a specific price, a condition which may not be met until some unknown time in the future - if you relied on the blockchain a user could set the same trade referencing the same input address on different exchanges and create a "double spend" that wouldn't be known until the two transactions were broadcast.

Exchanges have to use centralised databases to manage trades because they deliver the speed, capacity and functionality they (i.e. their users) need.
sr. member
Activity: 270
Merit: 250
August 07, 2016, 05:09:11 AM
I think losing 36% if better than Bitfinex going full MtGox and at least they notified users straight away instead of operating as usual like Cryptsy and those 'in the know' managing to take most of their BTC and everybody else losing everything. Not an ideal solution though.

Do you know if it will be 36% of BTC or 36% of all Alt coins too?

As far as I know it affects only currency impaired i.e btc. No altcoin balances would be abated to clog up the bitcoin leak.

Im OK albeit not entirely happy with the proposed way of loss socialization, and might add that bitfinex could have easily made neat profits from shorts before announcing the hack and use those for hedging against collateral damage that exchange had taken in a result of the hack.

Instead they coerce ridiculous haircut on their customers' balances. Badass move but could be the only possible option to make as more ppl as possible as whole as possible.
It is amazing that they are still trying to stay on the market. If so, their efforts and conditions, nothing more than a search for opportunities to return or to recoup their losses, rather than their clients.
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