Topic: BTC Stolen from Poloniex - page 15. (Read 167444 times)

This has probably already been mentioned, but am I the only one that just got an email from Polo that says:
"Any exchange fees collected since the incident will be used to pay back the debt at regular intervals. Exchange fees will not be raised."

Yet when I follow the link in the email, the first thing I read is:
"Exchange fees will be raised to expedite the recovery of the debt."

 

This^

Good luck in these tough times. Shame this hack was possible, but you are handling it in the best way possible

So my idea would be this:  
Do an IPO on Cryptostock to immediately cover the loss and pay off the debt.  Decide how much you are going to pay back to the investors.  Lets say that I can invest 1 BTC and you will pay back 2 BTC over six months.  I would do that... I would pitch in 1 BTC to help the fix... and others would too....  its an immediate fix.... then we can trade the shares on cryptostock like coins... If you are interested... I would sponsor the IPO....since I am already set up on Cryptostock.
/fasbit

Taking full responsibility yet let the users pay for it? Hmmm....

If you run an exchange and it's possible to end up with negative account balances, that is unforgivable. Something is fundamentally wrong then.
Then your solution is letting your batch job checking for negative balances? Man oh man.

Race conditions are the first thing you prevent when you do financial transactions.
Use transactions, never use queues and of course, make sure your DB is truly MCC/MVCC and ACID compliant.

With your suggested solution, I wouldn't even be surprised if you're using MySQL and floats for the currency fields.
Please use something decent. You're handling other peoples money.

Funny, I said something similar a few pages back and you didn't jump me.

Still, if your last line there were true, the news industry would have dried up about the time of its birth. Not altogether sure where I stand on that, but frankly, yes, freedom of speech most assuredly implies the ability and right to make an ass of yourself.

Perhaps if he'd had more observers analyzing his site in the first place, this wouldn't have happened. Those who were not affected can be more objective than those who were.

Hmm. US circa 1937, Germany Circa 1933, Cyprus circa 2013... I could go on.

You're doing a rather bang-up job all by yourself.

Nothing to do with freedom of speech............but bias. Only those who were affected by the theft can comment, others not affected can advice but not make compliments.

Freedom of speech isn't an excuse to make oneself look stupid.

Funny thing is, he actually can. It's called freedom of speech, and I for one believe that to be a basic human right.

I think you are doing the right thing.  Good on you.

blah

blah

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I do not currently have an account with your...virtual currency entity.  VCE?  But I'm willing to open an account


WHAT!!!


You do not even have an account, so you can not make any judgements, especially compliments.

At the risk of being flamed into molecular ashes...

I think you are doing the right thing.  Good on you.  Couple of questions...

Are you planning to keep the exchange open just long enough to pay everyone back?  Or do you plan to continue the business indefinitely?  If the latter, do you plan for the exchange to stay within its existing niche?  Or for it to grow/evolve into something larger? 

I do think you need to retain some seriously competent human resources to upgrade your overall security, outward-facing interface(s), internal accounting & processing, etc, etc. 

I do not currently have an account with your...virtual currency entity.  VCE?  But I'm willing to open an account (and move my BtC and U$D into it) if two conditions are met.  (1) Tighten-up your security and verification.  A lot.  (2) Save all the transaction data, for clients who are paying the higher fees & commissions.  After the stolen currency/funds are paid off, offer us the occasional frequent "free trade" or "half rate commission" until the higher fees & commissions are balanced out. 

It should go without saying, that any sort of professional & impersonal facade...of the nature MTGOX likes (liked?) to present to clients & customers...would need to go away forever.  If you want the community to help you through this hiccup, then it's only fair to offer some sort of reward to the folks who stick by you. 

I don't know much about the personality/character of your operation.  Never had an account there.  It may be that you already have "operators standing by" who know many of your customers by name. 

Does this also apply to non-BTC balances?

You should post a Donation wallet address for Poloneix recovery on your original post. I'm sure there are plenty of like-minded people out there willing to help so you don't have to take on the full burden of recovery yourself. Just a thought.
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Yes I had made mention of a donation fund to help yesterday, I thought it would work. Just be transparent with all donators. But please be sure the bugs a security holes are fixed first 

Why do you come off as so ignorant?

oops Thanks!

Oh my gosh, what a reaming from Mike Hearn of all people! Hmmm not sure what to think. I prefer to see the site stay up and moving forward. Perhaps Mike could help fix some of the bugs. lol,

Lets face it, if exchanges were an easy hurtle to create and run without issues, everyone including myself would be doing it. I know of 5 or so that have come and gone recently or are up for sale such as Crypto St. They had all the experts, but failed. ok, Not an easy task. Follow your instincts and heart Tristan.

Here is the link
http://www.coindesk.com/poloniex-loses-12-3-bitcoins-latest-bitcoin-exchange-hack/