Topic: BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE | - page 62. (Read 119723 times)
February 17, 2015, 03:32:27 AM
It'd certainly be good to know what's going on. 2 days and still nothing from bter.
February 17, 2015, 03:22:13 AM
......... How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.
I suspect it was an inside job, and the smart people who should have been keeping the cold wallet safe robbed it themselves.
it was not a true cold wallet which brings the question why it wasn't. It may have been kept a such so that when they steal it they can blame external hackers.
Yes of course, it will be impossible to "hack" a cold wallet (with a remote attack). A purpose of cold wallet is to be disconnected (better never connected) on internet.
I think they had created the cold wallet in the worst way.
They are full of crap. There was no cold wallet.
February 17, 2015, 03:19:08 AM
......... How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.
I suspect it was an inside job, and the smart people who should have been keeping the cold wallet safe robbed it themselves.
it was not a true cold wallet which brings the question why it wasn't. It may have been kept a such so that when they steal it they can blame external hackers.
Yes of course, it will be impossible to "hack" a cold wallet (with a remote attack). A purpose of cold wallet is to be disconnected (better never connected) on internet.
I think they had created the cold wallet in the worst way.
February 17, 2015, 03:18:26 AM
the owner is securing the hot wallet now......but how will he recover the huge loss 
February 17, 2015, 03:05:53 AM
......... How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.
I suspect it was an inside job, and the smart people who should have been keeping the cold wallet safe robbed it themselves.
it was not a true cold wallet which brings the question why it wasn't. It may have been kept a such so that when they steal it they can blame external hackers.
February 17, 2015, 03:04:03 AM
Perhaps all sitting in prison ... if it is a inside problem ...
February 17, 2015, 02:11:22 AM
......... How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.
I suspect it was an inside job, and the smart people who should have been keeping the cold wallet safe robbed it themselves.
I though about it too and many others on the forums as well. I'd say let's wait and see what happens. We don't have to assume the worst at first.
Usually the worst is likely to be the right answer.
We are still waiting some news from them, Bter.com where are you ?
February 16, 2015, 11:33:09 PM
Bitstamp hacked and price dropped from 300 to 200 usd
Bter hacked
Hongkong government blocked bitcoin investing and 328M $ may decrease from bitcoin market
OkCoin scammed 5M Usd worth of btc
And yeah its a good year for bitcoin
I am not telling bitcoin is not secure even banks get hacked too. The problem is who is in the game after these much good news.
Bter, bitstamp and.. Wallets were secure enough. The problem is anything is possible to getting hacked but can they revoke stolen money?
I guess not.
So what if they want to buy back with half price..
Bter hacked
Hongkong government blocked bitcoin investing and 328M $ may decrease from bitcoin market
OkCoin scammed 5M Usd worth of btc
And yeah its a good year for bitcoin
I am not telling bitcoin is not secure even banks get hacked too. The problem is who is in the game after these much good news.
Bter, bitstamp and.. Wallets were secure enough. The problem is anything is possible to getting hacked but can they revoke stolen money?
I guess not.
So what if they want to buy back with half price..
February 16, 2015, 10:37:59 PM
wow.. im shocked.. NOT. no bum will ever give you your money back!
February 16, 2015, 05:00:55 PM
......... How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.
I suspect it was an inside job, and the smart people who should have been keeping the cold wallet safe robbed it themselves.
I though about it too and many others on the forums as well. I'd say let's wait and see what happens. We don't have to assume the worst at first.
Usually the worst is likely to be the right answer.
February 16, 2015, 04:50:07 PM
......... How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.
I suspect it was an inside job, and the smart people who should have been keeping the cold wallet safe robbed it themselves.
I though about it too and many others on the forums as well. I'd say let's wait and see what happens. We don't have to assume the worst at first.
February 16, 2015, 04:30:58 PM
......... How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.
I suspect it was an inside job, and the smart people who should have been keeping the cold wallet safe robbed it themselves.
February 16, 2015, 03:57:43 PM
--snip
DO NOT HOLD YOUR BTC ON THIRD PARTY EXCHANGES – BE YOUR OWN BANK
--snip
DO NOT HOLD YOUR BTC ON THIRD PARTY EXCHANGES – BE YOUR OWN BANK
--snip
February 16, 2015, 03:54:07 PM
Why you shouldn't never keep your coin on an exchange : https://bitcointalksearch.org/topic/dataexchanges-their-way-of-using-a-fractional-reserve-and-generate-inflation-945881 (added the thread to the initial post).
Thanks @gbianchi for his fantastic explanation, and remember as always : an exchange isn't a bank.
Thanks @gbianchi for his fantastic explanation, and remember as always : an exchange isn't a bank.
Nice read and of course an exchange is not a bank (well shouldn't be, although they may use fractional-reserve, who knows?). But as many on the forums have said it before, I have to keep some coins on the exchange if I want to trade them. I cannot withdraw every single time for a fee of X BTC.
Also, the stolen funds were from a cold wallet. How much more secure is my wallet at home which is running on my PC when a wallet with 7000 coins in it - presumably kept safe by smart people - gets stolen? Yes, targeting a 7000 BTC worth wallet is more lucrative than mine, but still.
February 16, 2015, 03:17:08 PM
Why you shouldn't never keep your coin on an exchange : https://bitcointalksearch.org/topic/dataexchanges-their-way-of-using-a-fractional-reserve-and-generate-inflation-945881 (added the thread to the initial post).
Thanks @gbianchi for his fantastic explanation, and remember as always : an exchange isn't a bank.
Thanks @gbianchi for his fantastic explanation, and remember as always : an exchange isn't a bank.
February 16, 2015, 02:10:52 PM
Who knows how many bitcoins does Bter have in the hot wallets, i.e. at their disposal right now? This wallet belongs to Bter (100%) and has a total balance of 130 BTC at the moment...
February 16, 2015, 12:43:52 PM
Someone knows if BTS is affected too?
I had some of those left there, I am also curious to see. If the site goes back online, I think those would be intact. February 16, 2015, 12:40:24 PM
I mean they were not stolen... or "stolen" if you please!
February 16, 2015, 12:20:35 PM
so glad that i have no balance there only have account on there
actually this is bad for crypto currency
after gox, mintpal, bitstamp, and now bter
for now security is the main issue for any exchanger
actually this is bad for crypto currency
after gox, mintpal, bitstamp, and now bter
for now security is the main issue for any exchanger
February 16, 2015, 12:18:26 PM
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