Topic: BitStamp - hacked and down - page 4. (Read 9342 times)

Sigh... it has been over 48 hours, and still nothing. At least give a more honest or realistic ETA so we can plan accordingly.

May all well be true but its the same scenario and I lost money on gox. Rest assured your coins are safe we are on the verge of reopening. Our company is working with this and that company tightening security holes we are close to reopening and then oh we are bankrupt sorry for the incconvenience and there is no word i hate more then the word of convenience . An inconvenience is something trivial this is not trivial Stop using the word inconvenience. THis is a fucking travesty and is starting to have the same smell and look of gox to a t..

I'm a Gox victim. I lost 95% of my coins with Gox. I am rich in experience.  

If I had any coins with Bitstamp, I would withdraw them as soon as I could. I would be very concerned.

But nevertheless I think with Bitstamp it's a little bit different, if you compare it with Gox.

1. There are no criminals that run away with your money.
2. They have only lost a fraction of their deposits (10-15%).
3. They have Pantera as wealthy and strong backer.

I can't say anything else positive about Bitstamp but these are hard facts.

I hope that no one loses its money and feel with all stakeholders.

Same scenario as gox. Rest assured your coins are safe we are implemtning security procedures . Days become weeks weeks become bankrupty. RIP

https://twitter.com/nejc_kodric/status/553260340411379714

Although technically Gox didn't keep it- the Japanese legal system has it and will determine what to do with it.

For my own personal coins- I sure to hell hope they are okay.

Yes, hopefully they do but they don't want to cash out funds that are related to the hack.

They will probably cover it from their pockets as they have allowed this error to happen.

this is their pocket money. they will not cover the loss from their own profit. Maybe Morehead (their investor) will put 5 MIL ...he seems to be a good  to milk.

Stamp might be sitting on loads of unclaimed bitcoins from traders who are incarcerated or failed to submit kyc documents. However, most governments require unclaimed funds be turned over to the State. Perhaps Stamp believes it has legal standing to keep bitcoins on grounds that such laws apply to fiat funds only? Weak argument, but may buy Stamp some time.

they have more a lot of money in their bank account. at least 40 MIL

It seems safer to not allow outgoing bank wires just to be sure they are not cashing out stolen funds.

assuming theyre not going to liquidate the business and ...............keep the lot
like gox etc

If they were truly honest they could put back a simplified website so people could check their accounts and see their balances and even request fiat transfers since the problem was with their bitcoin wallet.

As much as I hate my money being tied up there- you have a point. There are a lot of things to check, too many to be done in only 24-48 hours and really feel 'safe'.

Because most of these exchangers are ran by amateurs, hipters who think about their self that they are GODS.

That's why these things are happening. Look to their behavior. They think that they are a corporation; I am not sure why the most of these so called exchangers are posing as having large offices like Apple, Microsoft, Bank of America when it is not a shame to be modest.

You can run this business from your home as well or from a small and cozy office if you really want that. It's perfectly normal to do that because you don't need hundreds of employees.

You need someone(1-2 people) to reply to tickets (if you are a big exangers), checking the incoming and outgoing transactions (by bank wire) and a part time programmer if your platform is safe.He just have to take a look over it daily.

Mtgox or Moolah are only two examples of arrogance.

Look here : http://www.liveleak.com/view?i=e63_1404777061

https://www.youtube.com/watch?v=ob9Ak1t09Ao

This is a common behavior for almost all these "exchangers". They are "busy" people, full of the word's problems. Nobody can understand what  "burden" they carry but in essence they are some kids who saw a lot of money in their hands.

They are full of vanity....they know better than anyone how the "things" are in the financial industry even they have 25 years old.

They create FINANCIAL "scripts" on  knees and saying "it's the best"  even they only tested for 1-2 weeks. A financial software costs from few hundreds of thousands to millions of USD.

 That's why the banks and the real forex companies are paying fortunes for their software security and even so, you cannot be sure.

It is SO fucking funny when you see : "We are fully rebuilding our systems from the ground up so that customers can use Bitstamp with full confidence and trust (in 48 hours)"

https://twitter.com/nejc_kodric/status/552091195795845120

How can someone check and fix a hacking problem in days when it's about a financial platform?

Thousands of code lines must be checked and rechecked + the server configuration. It is impossible in 48 hours;not even in a week.

That's why all the hacks are happening. The greed and vanity will bring down all these so called exchangers.

Unfortunately, their clients will pay the bill.

what kind of security were they running to manage to "lose" 19,000btc  ??

there is no way this shit can still be happening in 2015 after its happened so many times previously

I withdraw all the time and I've gone through all the legal nonsense required for their KYC/AML routine. That said nothing in their routine is that difficult to fake. Passport Scan? Utility Bill? Government ID? Considering how easy those are to fake, you might be surprised to learn that getting a poor person in the former communist block countries to give you power of attorney on their bank account is easier then photocopying their ID.

Now, withdrawing $5 million in cash isn't something that would go unnoticed, but you're assuming that all they stole was those 18K BTC. How was Bitstamp supposed to know this for sure AT THE TIME THEY SUSPENDED SERVICE? For all they know, they might be approving fiat withdrawls for tens of thousands of FIAT across any number of fake bank accounts. Maybe Bitstamp has been bleeding for quite awhile now and they didn't know it? Maybe someone else's earlier hack on the system left them exposed to this newer, more impatient thief? The possibilities are endless and the right thing to do was to suspend everything pending a thorough review.

Also, not to mention- Smoothie and I have jousted on a number of occasions and I quite respect his/her opinion. That said- he/she is not Bitstamps legal council. I can't imagine a situation where anyone reasonable could support processing withdrawals while simultaneously being robbed. They did the right thing, even if it screws us the customer. They stopped everything, probably did a system snapshot, and called the police.

So yeah, hope for the best because you can't do a single damned thing about it at this point. But because I HAVE learned from my experience with Gox, I have ALSO already called my lawyer. So should you.