Today I tried to withdraw some of my bitcoin from btc38 exchange. They said I have to wait a week because of new Chinese laws. So hopefully by next week I'll get my coins. But in the past I've never had a problem getting my coins. Whenever something has happen with a transaction from coin to coin, they've responded timely when I posted a ticket with them. So I have faith that things will turn out, hopefully.
Surprising that there are still people using it but not that too surprised. But for me, I would've withdrawn my money there as it has been hacked and I feel that the security is not that tight. Though as they say "lesson learned" and they have surely done a multiple fold of security upgrades done what it had in the past. I might try to look up what this BTC38 is like what it offers for people to stay with it. 
Topic: BTC38 hot wallet got hacked and lost 1.5 million (Read 15673 times)
Today I tried to withdraw some of my bitcoin from btc38 exchange. They said I have to wait a week because of new Chinese laws. So hopefully by next week I'll get my coins. But in the past I've never had a problem getting my coins. Whenever something has happen with a transaction from coin to coin, they've responded timely when I posted a ticket with them. So I have faith that things will turn out, hopefully.
there seems to be some withdraw delays again unless this is still going on, and we just did not notice because none of my friends were withdrawing bitcoins. anyone know if there are others having similar problems pulling out dash, bitcoin, or litecoin? and if so is this due to this hack still, or is this something new caused by all the discussion about chinese policy over KYC laws? I had read they expect people in china to not only tell where they got their money from before moving it into an exchange to buy bitcoin, *(fiat in bank)* but also what they actually intend to do with their bitcoins. and its like 4 forms they have to fill out for this. just wondering if the hack is responsible or the new policy or maybe both are coming together to really screw everyone up?
is there anyone able to login btc38 ??
or just me!
or just me!
I don't this is the thread to ask that question. Make a new thread if you must.
is there anyone able to login btc38 ??
or just me!
or just me!
When compared to their overall trade volumes, the stolen amount is significant. But still, it is not that big to disrupt the daily operations. IMO, they must be able to cover up this loss from a few months revenue.
they are not that popular to my knowledge and that means lower volume compared to other exchanges and if they were really hacked and this is not a fake story , it will take they a long time to make it back with fees on exchange with a low volume.
In that case, this is a very disappointing news. And now since their reputation is lost, a lot of the users are going to dump the exchange as well. Their long-term survival prospect looks bleak.
Just like another exchange, i doubt they can restore their reputation and services unless they trying very hard. People simply will forget BTC38 and move to another exchange which has better reputation OR they learned not to keep their money on exchange.
Thats true. It will simply fade away just like the other Chinese exchange called BTER. Thats another exchange that kept on getting hacked and the altcoin NXT over there kept getting stolen. The last time I checked, the exchange had almost zero volume. So it shows that the community do listen to the negaive reviews given to a service.
When compared to their overall trade volumes, the stolen amount is significant. But still, it is not that big to disrupt the daily operations. IMO, they must be able to cover up this loss from a few months revenue.
they are not that popular to my knowledge and that means lower volume compared to other exchanges and if they were really hacked and this is not a fake story , it will take they a long time to make it back with fees on exchange with a low volume.
In that case, this is a very disappointing news. And now since their reputation is lost, a lot of the users are going to dump the exchange as well. Their long-term survival prospect looks bleak.
How do they make all this hacked exchanges to get back easily into the business after a suspicious note of inside job? Anonymity of bitcoin is believed to be limited and there is record to all transfer, in a blockchain there should be a way to trace the stolen bitcoin. The end to price rise of bitcoin may not be near and most hacks are around the spiking price, people should still be careful of this
yet another example why you should not keep bits in online wallets or exchanges. Hail to the evil hackers community.
Exactly, and slow or soon the hackers will sell the coins and it is mean the price will going down, so we must becareful for anticipate about possibilities the price going down.If we are careless be ready for lost our money because of buy high price.
2 hours later, another 8btc thread gave out the true reason: BTC38 was hit by a hacker with approximate loss of 1.5 million RMB.
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
So did the hacker withdraw those huge amount of coins? BTC38 didn't have full security to check such huge withdrawal? I can't believe it happened
the fact that all these exchange can not learn anything from the mistake of the other and still leave a great amount of coin in a hot wallet, is telling me that the hacker is an insider
really they can't be that stupid, it must be on purpose...
really they can't be that stupid, it must be on purpose...
Yes, everyone is doing it. There are many people out there that made it their modus operandi to scam Bitcoiners out of their precious Bitcoins. With Bitcoin going above $1000, we better store them all in our wallets with private keys we ourselves control.
I am glad that I didnt used Btc38.Im sorry though for the people who stored their coins there.There have been many warnings to people not to keep their coins on exchanges when the Bitcoins price is rising suddenly,because there is a possibility for that exchanges to be hacked.If you want to store your coins on exchanges better store a small amount of them there,that you can afford to loose.
i never heard about btc38 and i dont trade but giving warnings to people it will not stop them or they just trading daily and doesnt keep their coins in exchange. 
When compared to their overall trade volumes, the stolen amount is significant. But still, it is not that big to disrupt the daily operations. IMO, they must be able to cover up this loss from a few months revenue.
they are not that popular to my knowledge and that means lower volume compared to other exchanges and if they were really hacked and this is not a fake story , it will take they a long time to make it back with fees on exchange with a low volume.
When compared to their overall trade volumes, the stolen amount is significant. But still, it is not that big to disrupt the daily operations. IMO, they must be able to cover up this loss from a few months revenue.
yet another example why you should not keep bits in online wallets or exchanges. Hail to the evil hackers community.
I am glad that I didnt used Btc38.Im sorry though for the people who stored their coins there.There have been many warnings to people not to keep their coins on exchanges when the Bitcoins price is rising suddenly,because there is a possibility for that exchanges to be hacked.If you want to store your coins on exchanges better store a small amount of them there,that you can afford to loose.
i never heard about btc38 and i dont trade but giving warnings to people it will not stop them or they just trading daily and doesnt keep their coins in exchange. 
the fact that all these exchange can not learn anything from the mistake of the other and still leave a great amount of coin in a hot wallet, is telling me that the hacker is an insider
really they can't be that stupid, it must be on purpose...
really they can't be that stupid, it must be on purpose...
2 hours later, another 8btc thread gave out the true reason: BTC38 was hit by a hacker with approximate loss of 1.5 million RMB.
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
I am glad that I didnt used Btc38.Im sorry though for the people who stored their coins there.There have been many warnings to people not to keep their coins on exchanges when the Bitcoins price is rising suddenly,because there is a possibility for that exchanges to be hacked.If you want to store your coins on exchanges better store a small amount of them there,that you can afford to loose.I hope Btc38 will cover the losses and the people will get their coins back.“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
Im glad too that i havent store any BTC in that exchange and also im so sorry for those looses their btc. Well i do agree sort of you will store not all your btc in exchanges just put some of it and put on other so that your btc is distributed properly and we could say that if on of it been hacked then you do have extra btc save from other exchange or wallet.
2 hours later, another 8btc thread gave out the true reason: BTC38 was hit by a hacker with approximate loss of 1.5 million RMB.
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
I am glad that I didnt used Btc38.Im sorry though for the people who stored their coins there.There have been many warnings to people not to keep their coins on exchanges when the Bitcoins price is rising suddenly,because there is a possibility for that exchanges to be hacked.If you want to store your coins on exchanges better store a small amount of them there,that you can afford to loose.I hope Btc38 will cover the losses and the people will get their coins back. “As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
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The reason behind all the hacking when the price starts to rise is down to the value nothing more..
Why would a hacking group spend months, working on a site or trying to gain access to the admin accounts by what ever method if the reward is low. or there is no demand for what they plan to steal..
I think when price rises people should be very careful leaving funds in exchanges or casinos or games, because they all become targets for hackers when the price gets high.
Withdraw your funds if you have them tucked away on ANY site. get them in your wallet take control!
If you need to trade or play put only what you need into the accounts!!
Don't let 2017 be a repeat of previous years. We all know the MTgox and other high profile hacks happened when the price went up!
When hackers are trying to hack some popular exchanger site with purpose to steal the bitcoin then they can just do it, it doesn't matter whether the price is at its highest point or whatever because after they steal those bitcoins then they're actually owning it and no one could take over its access unless the private key were stolen or the hackers getting compromised by someone else. So, the current rate doesn't really affect to the hackers Why would a hacking group spend months, working on a site or trying to gain access to the admin accounts by what ever method if the reward is low. or there is no demand for what they plan to steal..
I think when price rises people should be very careful leaving funds in exchanges or casinos or games, because they all become targets for hackers when the price gets high.
Withdraw your funds if you have them tucked away on ANY site. get them in your wallet take control!
If you need to trade or play put only what you need into the accounts!!
Don't let 2017 be a repeat of previous years. We all know the MTgox and other high profile hacks happened when the price went up!
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