[Bitfinex Hacked] So , learned the lesson ? - page 4.

miayama

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Activity: 358

Merit: 250

Quote from: Achargeturry78 on August 09, 2016, 06:21:13 AM

it's not bitfinex fault if someone lose bitcoin because of bitfinex got hacked last week it always depends on you if you are going to pull out your bitcoins where you can withdraw it or you want to stay your coin there but if they going to relaunch they're are going down because of investors or for those who using the website they will not going to trust again

It is Bitfinex's responsibility to keep your funds safe. The hack is Bitfinex fault they did not keep the keys properly.

mayax

legendary

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Quote from: kano on August 09, 2016, 11:18:50 AM

So, I've never actually been to the Bitfinex web site (or used it)
I found another pool STILL has links to them on their web site, so I clicked and had a look.

Wow are they delusional still saying this on the web site:
https://www.bitfinex.com/security_policy

Quote

Security of user information and funds is our first priority.
Every detail is analyzed to avoid security holes. We pride ourselves on being the most secure Bitcoin exchange.

a lot of "bla bla" without any cover, these are their texts.

same as their TOS . a lot of non senses, copy+paste from others

kano

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Activity: 4634

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Linux since 1997 RedHat 4

So, I've never actually been to the Bitfinex web site (or used it)
I found another pool STILL has links to them on their web site, so I clicked and had a look.

Wow are they delusional still saying this on the web site:
https://www.bitfinex.com/security_policy

Quote

Security of user information and funds is our first priority.
Every detail is analyzed to avoid security holes. We pride ourselves on being the most secure Bitcoin exchange.

TastyChillySauce00

legendary

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Leading Crypto Sports Betting & Casino Platform

Quote from: extrabyte on August 09, 2016, 01:47:11 AM

It's not the first exchange that is getting hacked and we have learned this lesson many times but the traders do not have any other way to trade outside exchanges so they may put all their money on exchange because when trading with a huge amount the risk is high but also the profit can be higher.

making withdrawal every daily target reached is quite helping rather than go sleeping while money still being kept in an exchanger
sometimes people just lazy and (super) stingy to pay few fees which is i guess not more than 5$,but still the risk of keeping money on exchanger can't be avoided for those traders

Quote from: Achargeturry78 on August 09, 2016, 06:21:13 AM

it's not bitfinex fault if someone lose bitcoin because of bitfinex got hacked last week

you're believing that the bitfinex's security is user's responsibilty or being sarcastic?
i guess users there is enough by paying fees and get what they should deserve (security and safety)

Achargeturry78

sr. member

Activity: 630

Merit: 267

Just follow the rules

it's not bitfinex fault if someone lose bitcoin because of bitfinex got hacked last week it always depends on you if you are going to pull out your bitcoins where you can withdraw it or you want to stay your coin there but if they going to relaunch they're are going down because of investors or for those who using the website they will not going to trust again

kadatka

member

Activity: 82

Merit: 10

As can be traded on the stock exchange and it does not keep money there?
This is not just an exchange - this is trade. Many put the long order in anticipation of the desired prices.
Security solutions - licensing and insurance exchanges or fully decentralized exchange.

_{(Sorry for my bad english)}

OmegaStarScream

staff

Activity: 3500

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Quote from: extrabyte on August 09, 2016, 01:47:11 AM

It's not the first exchange that is getting hacked and we have learned this lesson many times but the traders do not have any other way to trade outside exchanges so they may put all their money on exchange because when trading with a huge amount the risk is high but also the profit can be higher.

you probably did learn the lesson but other people didn't , otherwise how would you explain that 70m $ (or something) got hacked from "USER FUNDS" which means.... yep they didn't learn anything.

extrabyte

legendary

Activity: 840

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It's not the first exchange that is getting hacked and we have learned this lesson many times but the traders do not have any other way to trade outside exchanges so they may put all their money on exchange because when trading with a huge amount the risk is high but also the profit can be higher.

JeffBrad12

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Leading Crypto Sports Betting & Casino Platform

Quote from: Sierra8561 on August 06, 2016, 06:25:53 PM

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

I don't think so, maybe you're wrong about that. you can try to send your amount to any address but after you sending your amount and not getting a confirmed maybe your amount is already disappearing and stay in the half of the road. and waiting for the confirmation and finishing into receiver address but the transaction system like an escrow.

illyiller

hero member

Activity: 697

Merit: 520

Quote from: mayax on August 06, 2016, 05:32:15 PM

Quote from: Blackmet on August 06, 2016, 03:01:51 PM

I am so interested, how much money was stolen, i am don't like when something like this happening but i am sympathize to people who lost their money.

Bitfinex has stolen the funds. There was not any hack. Bitfinex earned 23 MIL USD from this shit. Yes, they made 23 MIL USD overnight.

Yes, their clients are happy that they get less 36%.

How stupid can you be to accept that?

To be honest, I don't think this is how Bitfinex would have handled this at all if it were intended as an exit scam. I think -- based purely on the actions of Bitfinex owners -- that they are desperately trying to hold onto their baby, and that this was completely unforeseen. That's not to say it wasn't an inside job by one or two people, but I don't think this was an all-out scam. If it were, they would have simply gone dark. Instead, many large traders have reported being on calls with Giancarlo, etc. and they've actually brought the site back up and made several UX adjustments. That's not really indicative of an exit scam.

Anyway, I think people are just hoping to get some funds off now...doesn't mean they can't sue later.

cluit

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Quote from: lumeire on August 06, 2016, 08:20:22 PM

Quote from: illyiller on August 06, 2016, 12:29:47 PM

Wow... they are now socializing losses to all asset holders. This is not a smart move for Bitfinex. Previously, all bitcoin wallets were segregated, so it was clear whose assets were stolen. Under bailment theory, that means Bitfinex must return assets to their rightful owners and consider assets lost as lost.

US law does not see this socialized loss scenario as valid. It's not like liquidation in bankruptcy, because this does not contemplate ranking of creditors. I smell litigation ensuing.

True, socialized loss for customers is never good. In the end the company gets the profits but their customers shoulder the losses? These guys should be sued.

BitFinex should shoulder the losses, along with its investors. It's their business, not ours.

It is not the fault of the users that bitfinex hacked, so the users do not have to accept the lose but it is the fault of bitfinex that they have much weaker security, people had trust on them so they have to care for their users otherwise everyone will leave this exchange and it will die.

Sierra8561

sr. member

Activity: 546

Merit: 253

Quote from: redsun114 on August 08, 2016, 12:08:27 PM

Quote from: Sierra8561 on August 06, 2016, 06:25:53 PM

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

I think it will be an inconvenience for the users of bitcoin, as with that it will require much bigger time to transact our money to any other address of someone, and for purchase we will have to wait much longer.

I'm talking only deposits and withdrawals. Trading would be normal. I'd personally wait for a high confirmations number over being hacked. It definitely would give people time to react before the btc just vanished.

redsun114

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Leading Crypto Sports Betting & Casino Platform

Quote from: Sierra8561 on August 06, 2016, 06:25:53 PM

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

I think it will be an inconvenience for the users of bitcoin, as with that it will require much bigger time to transact our money to any other address of someone, and for purchase we will have to wait much longer.

jostorres

hero member

Activity: 2576

Merit: 586

Quote from: Sierra8561 on August 06, 2016, 06:25:53 PM

I think the solution could be to have all incoming and outgoing transfers require 200 confirmations. That would give everyone time to stop the hack, once unusual activity is detected.

Yes, it will be good for to trap the hackers before they use the stolen bitcoins, but the better solution is that the dev much have to start a system of dispute , just like the dispute system in paypal and payza, with that we will be able to recover out stolen money by winning the dispute.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: lemipawa on August 08, 2016, 03:38:52 AM

Quote from: Herp on August 07, 2016, 02:38:24 PM

Quote from: BitHodler on August 07, 2016, 01:48:00 PM

Quote from: bitbunnny on August 07, 2016, 01:35:55 PM

So, I wonder if Bitfinex would give the stolen coins back to their users? This would be the right thing to do. Is this actualy realistic to expect?

The guys running the exchange make a mess that costs people a lot money, and they pass the damage bill to its traders by cutting all balances with just over 36%. That's just nasty.

Getting 64% back and some bond is way better than losing everything.

It might look and sound like a good sign for giving back the 64% of the account balance, better than nothing right? But that is if they really are attacked by a hacker.

I was thinking if this kind of exchange site also sign up for any insurance like real life banks, when something bad happens to the Bank depositor is insured up to a certain amount of money, so that means if the maximum insured amount is 10 BTC even if your account have 50 BTC insurance can only pay you the maximum of 10 BTC.

Exactly that! It's not sure if it was a real hacker stealing their coins, or the people behind the exchange doing it themselves.

If the exchange owners have done it, then it means they robbed their traders and simply make all people beside themselves pay for it.

Either way, people must leave that exchange and immediately remove all their coins and fiat.

lemipawa

legendary

Activity: 1708

Merit: 1006

Quote from: Herp on August 07, 2016, 02:38:24 PM

Quote from: BitHodler on August 07, 2016, 01:48:00 PM

Quote from: bitbunnny on August 07, 2016, 01:35:55 PM

So, I wonder if Bitfinex would give the stolen coins back to their users? This would be the right thing to do. Is this actualy realistic to expect?

The guys running the exchange make a mess that costs people a lot money, and they pass the damage bill to its traders by cutting all balances with just over 36%. That's just nasty.

Getting 64% back and some bond is way better than losing everything.

It might look and sound like a good sign for giving back the 64% of the account balance, better than nothing right? But that is if they really are attacked by a hacker.

I was thinking if this kind of exchange site also sign up for any insurance like real life banks, when something bad happens to the Bank depositor is insured up to a certain amount of money, so that means if the maximum insured amount is 10 BTC even if your account have 50 BTC insurance can only pay you the maximum of 10 BTC.

OmegaStarScream

staff

Activity: 3500

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Another update about the current situation [I don't see website online , not even in read-only mode ]

Herp

sr. member

Activity: 294

Merit: 250

Quote from: BitHodler on August 07, 2016, 01:48:00 PM

Quote from: bitbunnny on August 07, 2016, 01:35:55 PM

So, I wonder if Bitfinex would give the stolen coins back to their users? This would be the right thing to do. Is this actualy realistic to expect?

The guys running the exchange make a mess that costs people a lot money, and they pass the damage bill to its traders by cutting all balances with just over 36%. That's just nasty.

Getting 64% back and some bond is way better than losing everything.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: bitbunnny on August 07, 2016, 01:35:55 PM

So, I wonder if Bitfinex would give the stolen coins back to their users? This would be the right thing to do. Is this actualy realistic to expect?

The guys running the exchange make a mess that costs people a lot money, and they pass the damage bill to its traders by cutting all balances with just over 36%. That's just nasty.

apriloni

full member

Activity: 138

Merit: 100

Quote from: lumeire on August 06, 2016, 08:20:22 PM

Quote from: illyiller on August 06, 2016, 12:29:47 PM

Wow... they are now socializing losses to all asset holders. This is not a smart move for Bitfinex. Previously, all bitcoin wallets were segregated, so it was clear whose assets were stolen. Under bailment theory, that means Bitfinex must return assets to their rightful owners and consider assets lost as lost.

US law does not see this socialized loss scenario as valid. It's not like liquidation in bankruptcy, because this does not contemplate ranking of creditors. I smell litigation ensuing.

True, socialized loss for customers is never good. In the end the company gets the profits but their customers shoulder the losses? These guys should be sued.

BitFinex should shoulder the losses, along with its investors. It's their business, not ours.

If bitfinex did not shoulder the loses and we accepted it then after that every exchange will scam us by announcing a hack and after that they will cut off our bitcoins and they will run away with our hard earned bitcoins, bitfinex should have to fulfill the loses and the government should have to fine them, so that they care for the next time.

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