BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE | - page 67.

redsn0w

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Activity: 1778

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#Free market

Quote from: pedrog on February 15, 2015, 03:02:19 PM

Quote from: TookDk on February 15, 2015, 02:58:00 PM

Quote from: pedrog on February 15, 2015, 02:54:43 PM

If it was a cold wallet, how the hell was it stolen?

Somebody physically entered their facilities?

Obviously not cold, if you go back and look at the pattern of the coin movement before the hack, it is typical hot wallet pattern.

What a mistake to keep all the funds in a hot wallet.

More than 7000 coins in hot wallet, WOW, that is living dangerously...

Maybe their definition of cold wallet is a "little bit" different from our. The cold wallet must not be *connected* to internet (indeed the tx is pushed up by a secondary pc/device) or maybe it is only an "inside jobs".

nachoig

sr. member

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Merit: 250

Price is down. 232 USD on Bitfinex.

cshelswell

hero member

Activity: 615

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I think a lot of the reason people keep coins on there is if you're trading it can take a while for funds to confirm so you miss the pumps and dumps. I was lucky and withdrew a lot last week. I wonder if they'll try to make up their loss by selling off the altcoins?

pedrog

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Activity: 2786

Merit: 1031

Quote from: TookDk on February 15, 2015, 02:58:00 PM

Quote from: pedrog on February 15, 2015, 02:54:43 PM

If it was a cold wallet, how the hell was it stolen?

Somebody physically entered their facilities?

Obviously not cold, if you go back and look at the pattern of the coin movement before the hack, it is typical hot wallet pattern.

What a mistake to keep all the funds in a hot wallet.

More than 7000 coins in hot wallet, WOW, that is living dangerously...

TookDk

legendary

Activity: 1960

Merit: 1062

One coin to rule them all

Quote from: pedrog on February 15, 2015, 02:54:43 PM

If it was a cold wallet, how the hell was it stolen?

Somebody physically entered their facilities?

Obviously not cold, if you go back and look at the pattern of the coin movement before the hack, it is typical hot wallet pattern.

What a mistake to keep all the funds in a hot wallet.

pedrog

legendary

Activity: 2786

Merit: 1031

If it was a cold wallet, how the hell was it stolen?

Somebody physically entered their facilities?

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Quote from: rich93 on February 15, 2015, 02:43:01 PM

It's hitting the big news websites now.

http://www.coindesk.com/bter-bitcoin-stolen-cold-wallet-hack/

Thanks , I've added the link in the OP, 7'000 bitcoins aren't peanuts. Someone from you had coins on it ?

jaxxx

full member

Activity: 159

Merit: 100

Well fuck you then.

how does one get hacked through a cold wallet though.. makes me really think all of our bitcoins are unsafe.

rich93

full member

Activity: 595

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Chromia - Relational Blockchain

It's hitting the big news websites now.

http://www.coindesk.com/bter-bitcoin-stolen-cold-wallet-hack/

almightyruler

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Activity: 2268

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Quote from: abercrombie on February 15, 2015, 02:29:43 PM

Quote from: dbshck on February 15, 2015, 10:09:27 AM

Can someone explain how is it possible to hack cold wallet? I thought cold wallet means offline and secure Undecided

All it supposed to mean is that it's disconnected from the Internet.

Like maybe printed out in a safe or on a yellow sticky on somebody's computer monitor. Shocked

Not just disconnected, but never connected, ever.

The device or program that creates the wallet and receive address should be 100% standalone, not networked at all. For example, a dedicated boot CD (with HD, USB sticks etc disconnected) that prints out the key and address(es). No need to run a client, download the blockchain, or transfer any data via electronic means.

abercrombie

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Activity: 1159

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Quote from: dbshck on February 15, 2015, 10:09:27 AM

Can someone explain how is it possible to hack cold wallet? I thought cold wallet means offline and secure Undecided

All it supposed to mean is that it's disconnected from the Internet.

Like maybe printed out in a safe or on a yellow sticky on somebody's computer monitor. Shocked

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Quote from: irfan_pak10 on February 15, 2015, 02:08:13 PM

Quote from: redsn0w on February 15, 2015, 12:10:54 PM

There isn't anything in this world that is sure at 100% , I think you know that. With greenAddress (GA) you can rise your level of security much more than the other webWallets.

If you want more security use an hardwallet with greenAddress and you are more safe.

Yeah thanks

what about btc-e which is an exchange site
and also coinbase because i wanted to use some simple and secure site for saving my btc

I already suggest you greenAddress as webWallet for store your bitcoin, I've never used btc-e so I can't help you (but the rule is always the same : don't keep your money on an exchange).

For coinbase, I would like to tell you this thing : If you don't know the private key of the address , you don't really "own" the BTC contained in that bitcoin address.

nachoig

sr. member

Activity: 252

Merit: 250

Quote from: redsn0w on February 15, 2015, 02:08:37 PM

Quote from: nachoig on February 15, 2015, 01:16:55 PM

Bter?

The same who had 50M NXT stolen and contacted NXT devs to do a rollback? And the same from BitBay, which is just a pump and dump scheme?
http://cointelegraph.com/news/113238/chat-logs-allegedly-show-bter-creating-and-pumping-its-own-coin

Why do people still trust in this shitty exchange?

I think because with these exchanges you can easily convert your altcoin to bitcoin and viceversa. The real purpose of an exchange is not to "keep" your coin for a long time (also 1-2 days are long "time") but it is to exchange your coin and after withdraw it.

An exchange is not a bank, I hope now a lot of users will start to think about this fact.

Anyway (if i's just to exchange bitcoins for altcoins), at least the people could use an exchange that suck less.

redsn0w

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Activity: 1778

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#Free market

Quote from: nachoig on February 15, 2015, 01:16:55 PM

Bter?

The same who had 50M NXT stolen and contacted NXT devs to do a rollback? And the same from BitBay, which is just a pump and dump scheme?
http://cointelegraph.com/news/113238/chat-logs-allegedly-show-bter-creating-and-pumping-its-own-coin

Why do people still trust in this shitty exchange?

I think because with these exchanges you can easily convert your altcoin to bitcoin and viceversa. The real purpose of an exchange is not to "keep" your coin for a long time (also 1-2 days are long "time") but it is to exchange your coin and after withdraw it.

An exchange is not a bank, I hope now a lot of users will start to think about this fact.

irfan_pak10

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Activity: 3234

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: redsn0w on February 15, 2015, 12:10:54 PM

Quote from: irfan_pak10 on February 15, 2015, 11:54:24 AM

Quote from: redsn0w on February 15, 2015, 11:37:25 AM

Quote from: irfan_pak10 on February 15, 2015, 11:26:55 AM

Quote from: redsn0w on February 15, 2015, 11:06:13 AM

Quote from: TookDk on February 15, 2015, 10:59:20 AM

Quote from: irfan_pak10 on February 15, 2015, 10:56:58 AM

Quote from: ticoti on February 15, 2015, 10:51:49 AM

OMG it has happened again,every time that bitcoin is in a good way another hack....

I am afraid that bter users are not going to recover their bitcoins

Yes One after another scammer hacking every site. I dont think these are scammer that hacking these site its their own site owner who are hacking the sites. Now i also lost my 3$ in this site Grin

. Its not the point that i only lost my 3$ but the point is How i can safe my BTC when all the site going down every day?

Well, its a matter of statistic, only leave coins on an exchange for those minutes/hours it is needed to exchange, and hope you don't get caught in the middle of a hack.
Else NEVER leave coins at exchanges for longer time.

As I told before a simple use of the multi-Sig "function" could avoid this type of situation (check greenAddress and see how it is easy to use).

What is the greenAddress and where i can get it.?

GreenAddress is the future! I'm very impressed that a lot of people aren't using it. If you want a strong security you should start to use it for "save" your coin.

Here the official thread : https://bitcointalksearch.org/topic/greenaddress-open-source-multisig-wallet-service-521988

Are you sure we can use greenAddress as a safe wallet?

There isn't anything in this world that is sure at 100% , I think you know that. With greenAddress (GA) you can rise your level of security much more than the other webWallets.

If you want more security use an hardwallet with greenAddress and you are more safe.

Yeah thanks

what about btc-e which is an exchange site
and also coinbase because i wanted to use some simple and secure site for saving my btc

Renekton

full member

Activity: 123

Merit: 100

thats a hefty sum, this just reminds me of all the mt.gox stuff flashing back to me.

Rammus

full member

Activity: 138

Merit: 100

holy fuk... 7k in bitcoin.. I guess people still trust bad exchanges lol.

deisik

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Activity: 3514

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English ⬄ Russian Translation Services

Quote from: almightyruler on February 15, 2015, 01:09:00 PM

Quote from: deisik on February 15, 2015, 12:52:02 PM

Quote from: almightyruler on February 15, 2015, 12:34:32 PM

Quote from: TheGoodGuy419 on February 15, 2015, 12:16:47 PM

And as always....NEVER Leave Your Money On An Exchange...Or ANY Site. Always keep your coins in your wallets.

It's possible that the average loss by "consumers" exceeds even seemingly massive losses when an exchange is hacked. If you're not careful enough, your funds may actually be safer (statistically) with a third party.

A bit like a major aircraft accident. It's horrible to hear about 300 people dying, yet that number is small when compared to say, traffic accidents. Even though the former is more sensational, you have far more chance of being affected by the latter.

The main problem with such reasoning is that you forget to mention that in air crashes, unlike traffic accidents, you have only an infinitesimal chance of surviving it. In other words, the horrible thing is not about 300 people dying, it is about ALL of them dying... Cool

I'm referring specifically to fatalities only. The number of people killed in motor vehicle accidents over say a year would far exceed the toll from aircraft accidents.

You say about what is horrible in air crashes ("It's horrible to hear about 300 people dying"), i.e. a number of casualties, while I say it is not the number itself, but the fatality rate being almost 100 percent, which is what makes air crashes look and sound horrible (unlike traffic accidents)... Cool

nachoig

sr. member

Activity: 252

Merit: 250

Bter?

The same who had 50M NXT stolen and contacted NXT devs to do a rollback? And the same from BitBay, which is just a pump and dump scheme?
http://cointelegraph.com/news/113238/chat-logs-allegedly-show-bter-creating-and-pumping-its-own-coin

Why do people still trust in this shitty exchange?

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Quote from: marcotheminer on February 15, 2015, 12:59:04 PM

Quote from: redsn0w on February 15, 2015, 12:55:32 PM

Quote from: Equate on February 15, 2015, 12:34:52 PM

When will trading websites start taking security seriously ? Users trust them with their hard earned money and they don't have even time to audit their websites.

Maybe we should start to "not trust" the exchanges for keep our coins, or maybe until they will start using coldWallet with multiSignature. The only exchanges that I know that they are using multiSig are : bitStamp.com and theRocktrading.com .

BIT-X.com

Oh I forgot, also BIT-X.com is using multiSig addresses. I've added it on the OP as example of valid exchange.

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