bter hacked and lost 50m nxt - page 24.

Bitcoins101

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Quote from: Viper1 on August 15, 2014, 08:39:33 AM

Quote from: Este Nuno on August 15, 2014, 08:37:00 AM

Quote from: sumantso on August 15, 2014, 08:35:59 AM

Bter has so far sent 30 BTC then. They should get back at least 15m NXT for that, but fully expect the hacker to run away. Why give the thief more money when he said negotiations are over.

Who sent the other 80 BTC then?

Bter sent the full 100BTC. Not sure about the other 10 or if there was another 10. There was a couple BTC in that account before all this started I think.

BTER has not been paid 45,000,000 of the 50,000,000 NXT, though.

MajidBC

full member

Activity: 182

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KryptKoin is one of the best!!!

Apparently the best job in cryptocurrency world is "hacking". Hackers have been earning a lot bucks and never have been arrested in cryptocurrency world, as far as I'm aware of. Correct me, if I'm wrong.

Quantumtangles

member

Activity: 70

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Quote from: Viper1 on August 15, 2014, 08:39:33 AM

Quote from: Este Nuno on August 15, 2014, 08:37:00 AM

Quote from: sumantso on August 15, 2014, 08:35:59 AM

Bter has so far sent 30 BTC then. They should get back at least 15m NXT for that, but fully expect the hacker to run away. Why give the thief more money when he said negotiations are over.

Who sent the other 80 BTC then?

Bter sent the full 100BTC. Not sure about the other 10 or if there was another 10. There was a couple BTC in that account before all this started I think.

Mass migration of BTC by traders (maybe several hundred BTC) may have persuaded BTER to pay the ransom. I really feel for traders who had big positions in NXT. Rotten luck.

Viper1

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Activity: 686

Merit: 320

Quote from: Este Nuno on August 15, 2014, 08:37:00 AM

Quote from: sumantso on August 15, 2014, 08:35:59 AM

Bter has so far sent 30 BTC then. They should get back at least 15m NXT for that, but fully expect the hacker to run away. Why give the thief more money when he said negotiations are over.

Who sent the other 80 BTC then?

Bter sent the full 100BTC. Not sure about the other 10 or if there was another 10. There was a couple BTC in that account before all this started I think.

Quantumtangles

member

Activity: 70

Merit: 10

Quote from: devphp on August 15, 2014, 08:33:19 AM

So, here is what's going to happen.

In NXT, forgers decide what chain to forge on.

NXT is all for decentralization.

CfB is against a rollback, he said, but he sees not giving a choice to the community as a centralized decision on his part.

That's why he's going to put a modified release for download, which rolls back the chain.

If enough forgers download that release and forge with it and their chain is longer, then that chain wins and the hack is rolled back.

If enough forgers stay on the old chain and keep it the longest, then the hack is not rolled back.

That's how decentralization works in the PoS world.

The equivalent in PoW would be 51% of the miners mining on the longest chain, it's same in PoS.

Let's see how this drama unfolds

Interesting. A practical problem may be that most forgers automate, checking in maybe once or twice a month. Forgers should be actively notified of the position so that they download the release and forge the uncorrupted fork. I think this is right but by all means disagree with me if it is not.

Este Nuno

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amarha

Quote from: sumantso on August 15, 2014, 08:35:59 AM

Bter has so far sent 30 BTC then. They should get back at least 15m NXT for that, but fully expect the hacker to run away. Why give the thief more money when he said negotiations are over.

Who sent the other 80 BTC then?

achimsmile

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Quote from: Quantumtangles on August 15, 2014, 08:27:13 AM

Quote from: coinsolidation on August 15, 2014, 08:16:56 AM

The guy offering to buy the NXT at a higher price: https://bitcointalksearch.org/user/renat0-259539 (renat0)

Source: https://nxtblocks.info/#section/txid/593167476329651351

I am sure this time.

It is still sinking in (what is happening here). You really cant make this stuff up. If I had not seen the blockchain with my own lying eyes, I would never have believed it.

No way. He has 17'798'408 Nxt and wants to buy stolen coins for cheap....

Este Nuno

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Activity: 826

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amarha

Quote from: devphp on August 15, 2014, 08:33:19 AM

So, here is what's going to happen.

In NXT, forgers decide what chain to forge on.

NXT is all for decentralization.

CfB is against a rollback, he said, but he sees not giving a choice to the community as a centralized decision on his part.

That's why he's going to put a modified release for download, which rolls back the chain.

If enough forgers download that release and forge with it and their chain is longer, then that chain wins and the hack is rolled back.

If enough forgers stay on the old chain and keep it the longest, then the hack is not rolled back.

That's how decentralization works in the PoS world.

The equivalent in PoW would be 51% of the miners mining on the longest chain, it's same in PoS.

Let's see how this drama unfolds

Right.

This is exactly what decentralisation is.

Like I was saying earlier in the thread.

sumantso

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Bter has so far sent 30 BTC then. They should get back at least 15m NXT for that, but fully expect the hacker to run away. Why give the thief more money when he said negotiations are over.

devphp

sr. member

Activity: 336

Merit: 250

So, here is what's going to happen.

In NXT, forgers decide what chain to forge on.

NXT is all for decentralization.

CfB is against a rollback, he said, but he sees not giving a choice to the community as a centralized decision on his part.

That's why he's going to put a modified release for download, which rolls back the chain.

If enough forgers download that release and forge with it and their chain is longer, then that chain wins and the hack is rolled back.

If enough forgers stay on the old chain and keep it the longest, then the hack is not rolled back.

That's how decentralization works in the PoS world.

The equivalent in PoW would be 51% of the miners mining on the longest chain, it's same in PoS.

Let's see how this drama unfolds

Quantumtangles

member

Activity: 70

Merit: 10

Quote from: coinsolidation on August 15, 2014, 08:16:56 AM

The guy offering to buy the NXT at a higher price: https://bitcointalksearch.org/user/renat0-259539 (renat0)

Source: https://nxtblocks.info/#section/txid/593167476329651351

I am sure this time.

It is still sinking in (what is happening here). You really cant make this stuff up. If I had not seen the blockchain with my own lying eyes, I would never have believed it.

Bitcoins101

hero member

Activity: 826

Merit: 508

Quote from BTER dev:

"Yes we have identified the issue.
We have all our email, dropbox etc protected by 2-factor auth from beginning but had this hosting account left.
That's why the hacker can get into the hosting account.
It's totally our fault.
We have already changed all passwords and enabled the 2-factor auth.

Thanks a lot for your support!"

So, looks like he hacked one of their hosting accounts.

coinsolidation

sr. member

Activity: 294

Merit: 250

Bitmark Developer

The guy offering to buy the NXT at a higher price: https://bitcointalksearch.org/user/renat0-259539 (renat0)

Source: https://nxtblocks.info/#section/txid/593167476329651351

I am sure this time.

schnötzel

legendary

Activity: 1316

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Bitcoin is a bit**

Quote from: hypersire on August 15, 2014, 08:12:52 AM

Cryptoland is by far the best soap opera in the world.

Agreed

nikauforest

full member

Activity: 298

Merit: 149

Quote from: Este Nuno on August 15, 2014, 08:10:46 AM

Child me would be happy to know that the future would read like some cyberpunk novel. Tongue

I need to read Snow Crash again. Exciting times.

Vega

hero member

Activity: 739

Merit: 500

Quote from: nikauforest on August 15, 2014, 08:10:21 AM

Yea, I bet they are talking privately. A rollback for nxt would ruin confidence it it's blockchain. Possibly destroy the coin. This needs to get resolved in 24 hours .

I seriously doubt there would be a rollback no matter the outcome of this.
People may voted for it at first while panicking, but after a while very few people were for it.

hypersire

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Cryptoland is by far the best soap opera in the world.

Este Nuno

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amarha

Child me would be happy to know that the future would read like some cyberpunk novel. Tongue

nikauforest

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Activity: 298

Merit: 149

Yea, I bet they are talking privately. A rollback for nxt would ruin confidence in it's blockchain. Possibly destroy the coin. This needs to get resolved in 24 hours .

Bitcoins101

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Activity: 826

Merit: 508

Quote from: Este Nuno on August 15, 2014, 07:58:29 AM

https://blockchain.info/address/13UZjKkhHWyTmQ4mx28WT5Wj1zw4pEByZw

110 BTC sent but the deal is off?!

What are they doing?!

Someone is having a good day.

I think they're talking privately:

"send us email to [email protected] to speed this up"

Topic: bter hacked and lost 50m nxt - page 24. (Read 25445 times)