cryptsy hacked - bigvern on cryptsy blog

Fontas Returns

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Quote from: barrysty1e on January 16, 2016, 02:15:30 AM

This is the newest Cryptsy wallet, BigVern just took the money and bailed.
What a surprise - it's moving right now!

https://blockchain.info/address/3HNSiAq7wFDaPsYDcUxNSRMD78qVcYKicw

How do you know that it's cryptsy's wallet?

Phildo

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Quote from: The Sceptical Chymist on January 17, 2016, 06:22:05 PM

Quote from: Phildo on January 17, 2016, 11:33:49 AM

Quote from: erk on January 16, 2016, 09:32:48 PM

How can one type of coin wallet gain control over another unrelated wallet? Surely you would have cross site security of some sort?

The Lucky7Coin wallet story is kind of a red herring, the real hack was the Bitcoin and Litecoin wallets doing unauthorized transactions. Rouge code that allows the execution of arbitrary commands is nothing new, and should be planned for.

Why would Crypsty keep millions of dollars worth of coins online in hot wallets? Surely any exchange operator knows that's a no no.

Why would they know or care that it was a "no no." It's not their money that's going to disappear.

Oh I don't know, maybe because they're a fucking exchange whose bread and butter is in those wallets? I can't tell if yours is a serious question or just sarcasm. Perhaps you should use the [/s] or something similar.

This is either outright scam or severe mismanagement or gross incompetence. Time will tell.

Thier bread and butter wasn't in those wallet, their user bread and butter was in those wallets, they kept their bread and butter safe (or were able to keep going long enough after to make themselves safe, because I didn't hear any reports of staff going without salary to help make up the shortfall.

Doesn't really matter which of those 3 you listed it is, the end result for users in all those cases is the same, "sorry for your loss."

The Sceptical Chymist

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Quote from: Phildo on January 17, 2016, 11:33:49 AM

Quote from: erk on January 16, 2016, 09:32:48 PM

How can one type of coin wallet gain control over another unrelated wallet? Surely you would have cross site security of some sort?

The Lucky7Coin wallet story is kind of a red herring, the real hack was the Bitcoin and Litecoin wallets doing unauthorized transactions. Rouge code that allows the execution of arbitrary commands is nothing new, and should be planned for.

Why would Crypsty keep millions of dollars worth of coins online in hot wallets? Surely any exchange operator knows that's a no no.

Why would they know or care that it was a "no no." It's not their money that's going to disappear.

Oh I don't know, maybe because they're a fucking exchange whose bread and butter is in those wallets? I can't tell if yours is a serious question or just sarcasm. Perhaps you should use the [/s] or something similar.

This is either outright scam or severe mismanagement or gross incompetence. Time will tell.

Bitcoinbro

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The hack is not the real problem.
I thought about it and it makes no sense to reveal it now.
There incentive is to get some sympathy, while they file for bankruptcy a few days later.

erk

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Quote from: Phildo on January 17, 2016, 11:33:49 AM

Quote from: erk on January 16, 2016, 09:32:48 PM

How can one type of coin wallet gain control over another unrelated wallet? Surely you would have cross site security of some sort?

The Lucky7Coin wallet story is kind of a red herring, the real hack was the Bitcoin and Litecoin wallets doing unauthorized transactions. Rouge code that allows the execution of arbitrary commands is nothing new, and should be planned for.

Why would Crypsty keep millions of dollars worth of coins online in hot wallets? Surely any exchange operator knows that's a no no.

Why would they know or care that it was a "no no." It's not their money that's going to disappear.

Because the huge bitcoin loss could destroy their business, especially if the US gov finds they didn't meet the security standards required by the accreditation they had to get to trade $US online.

bitlancr

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Quote from: socks435 on January 16, 2016, 09:41:01 PM

great news. now i know thats why bitcoin price going down fast. And i hope this problem will fix soon.
Almost 15% of my invest bitcoin lose because of this cryptsy scandal..

This is not a problem which can be fixed easily. It's more a problem which can't be fixed. People have lost a lot of money in various of coins.
Which is bad for the general trust in bitcoin.

crazywack

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Quote from: socks435 on January 16, 2016, 09:41:01 PM

great news. now i know thats why bitcoin price going down fast. And i hope this problem will fix soon.
Almost 15% of my invest bitcoin lose because of this cryptsy scandal..

It's just temporary, HODL and don't worry. Many different things they week lead to the price move.

Phildo

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Quote from: erk on January 16, 2016, 09:32:48 PM

How can one type of coin wallet gain control over another unrelated wallet? Surely you would have cross site security of some sort?

The Lucky7Coin wallet story is kind of a red herring, the real hack was the Bitcoin and Litecoin wallets doing unauthorized transactions. Rouge code that allows the execution of arbitrary commands is nothing new, and should be planned for.

Why would Crypsty keep millions of dollars worth of coins online in hot wallets? Surely any exchange operator knows that's a no no.

Why would they know or care that it was a "no no." It's not their money that's going to disappear.

socks435

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great news. now i know thats why bitcoin price going down fast. And i hope this problem will fix soon.
Almost 15% of my invest bitcoin lose because of this cryptsy scandal..

erk

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Activity: 826

Merit: 500

How can one type of coin wallet gain control over another unrelated wallet? Surely you would have cross site security of some sort?

The Lucky7Coin wallet story is kind of a red herring, the real hack was the Bitcoin and Litecoin wallets doing unauthorized transactions. Rouge code that allows the execution of arbitrary commands is nothing new, and should be planned for.

Why would Crypsty keep millions of dollars worth of coins online in hot wallets? Surely any exchange operator knows that's a no no.

Newcoins2020

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I would really like some more information as to what is happening.
Will they honor withdrawals from other coins or just file bankruptcy?

Phildo

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Quote from: ?? on ??

Cryptsy has failed to explain why they aren't returning the millions of alts still stored in its cold-storage coffers.

Why not return those coins to the rightful owners?

Because why should they get paid back while the BTC or LTC holders get screwed? If they really are going to declare bankruptcy having a certain coin won't move you up the priority list for getting paid back.

Those people probably didn't lose enough money to cause cryptsy any trouble, so why piss off the people who did lose enough money to cause trouble any further?

LuckyYOU

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Hacked or not hacked.
It doesn't matter now, your money is gone. Big Vern made sure to have some wallets open for his personal gain.

phreaky

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Quote from: ivanst776 on January 16, 2016, 03:15:52 PM

Now the cryptsy exchange website is down and maybe people had money inside there, but their blog is still up Sad

I think they do that to inform people. There are not official news channels from cryptsy.
Even their twitter account is not updated anymore.

ivanst776

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Now the cryptsy exchange website is down and maybe people had money inside there, but their blog is still up Sad

phreaky

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I don't believe they getting hacked is the main reason. Sure they can be hacked, but the main downfall is the investigation there are in.
They need to close down the company asap.

Else they will see more problems.

rammy2k2

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Quote from: barrysty1e on January 16, 2016, 02:15:30 AM

This is the newest Cryptsy wallet, BigVern just took the money and bailed.
What a surprise - it's moving right now!

https://blockchain.info/address/3HNSiAq7wFDaPsYDcUxNSRMD78qVcYKicw

i tried to prevent people to stop using cryptsy for 1 year+ , but looks like just a few listened ; im not saying im a guru or something, but they always had troubles with deposits ... delayed withdrawals ... it was a warning since then

on another note, im glad i withdrawn all my coins back then , for the others, im sorry , very low chances to recover your coins

The Sceptical Chymist

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Quote from: bitcon on January 15, 2016, 01:15:39 AM

from: blog.cryptsy.com

"Here are the transaction details from the Bitcoin wallet:

https://www.walletexplorer.com/wallet/0c07e0bec1002bd2

As you can see, 2014-07-29 13:17:36 is when the event occurred. "

So Cryptsy knew about the "theft / hack" for more than a year and did nothing about it? Not even reporting it to authorities? seems a bit fishy to me.

If a thief/hacker had stolen that many coins, they would have mixed them and sold them (or at least some of them) before news of the hack got out to maximize their profits - not just leaving them in the mentioned wallets waiting to be traced.

Totally fishy. I'd almost say the story is a made up lie. I'd be tempted to say that this is a complete inside job scam.

Alao

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Quote from: barrysty1e on January 16, 2016, 02:15:30 AM

This is the newest Cryptsy wallet, BigVern just took the money and bailed.
What a surprise - it's moving right now!

https://blockchain.info/address/3HNSiAq7wFDaPsYDcUxNSRMD78qVcYKicw

How do you know this address came from Cryptsy?

Alao

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Quote from: jubalix on January 15, 2016, 04:55:49 AM

Quote from: ?? on ??

Cryptsy has failed to explain why they aren't returning the millions of alts still stored in its cold-storage coffers.

Why not return those coins to the rightful owners?

I second this question.

He offers no explanation on this, which shows either incompetence or something else is afoot

eg seized and was selling off to get btc back to himself, so drawing down on remainder when people withdrew, so balances are fraudulent anyway or is keeping for sale.

I *feel* he may have been drawing down in the hope that he could recover enough profit to make up.

can any one confirm what alts were hard to withdraw leading up to this?

Your right. I have 25 mill Maza locked up in there and I tried to get them out months ago. I would do 25 999,999 transactions and they would end up only sending 1.300. Such bull shit!!!

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