ethereum $110 million hack; Will we see another rollback and ETC.2? - page 2.

olushakes

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Quote from: shield132 on July 20, 2017, 02:01:04 PM

Quote from: Herbert2020 on July 20, 2017, 01:19:32 AM

Quote from: Za1n on July 20, 2017, 12:51:16 AM

Also all those people chiming in saying xxx coins in unhackable, mainly it is because the coin(s) do not have vast value as of yet, so you are relying on security via obscurity for the moment. Anything is hackable.

the most valuable cryptocurrency with the most usage and biggest number of users is bitcoin. hackers have been trying to find exploits in bitcoin to hack it for 8.5 years and they have been failing.
the only thing they could do so far is hacking exchanges, stealing wallets with no password, and tricking idiots into giving them their private key directly Cheesy

edit:
here is a bitcoin MultiSig containing 119,635BTC = $282 Million
feel free to start hacking it Grin

https://blockchain.info/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r

ethereum is supposed to be a smart contract platform and already has the biggest shame of all times: the DAO
and the news keeps coming.
who is to say there aren't more exploits waiting to happen on this coin. there sure are a lot of them happening these days as price is still somewhat high.
you know hackers never kill something right away, they do it slowly to gain the value. like this hack which was only a small amount not all ($32 mil) while the main hacker could empty everything at once.

Seems I was right from the very begining, I didn't like this coin and for me main reasons were hardforks. Suddenly as we see it has bugs and is not safe, seems it's very hard for altcoins to be concurent of bitcoin, many fails.....
As you mentioned, bitcoin is safe (can't say it don't has bugs but currenrly no one has done anything).
I think there will be another etc hard forks again, hope finally something will be fixed at least

What happened is something unethical that people tend to rejoice over their heist, I mean the hackers whereas some other people are in pain because of their lost investments. There is no coin that cannot be hacked but btc has equally proven over the years to be a formidable force against hackers which is something we continue to hope and this impending hardfork does not create a vacuum to be exploited for such purpose.

shield132

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Quote from: Herbert2020 on July 20, 2017, 01:19:32 AM

Quote from: Za1n on July 20, 2017, 12:51:16 AM

Also all those people chiming in saying xxx coins in unhackable, mainly it is because the coin(s) do not have vast value as of yet, so you are relying on security via obscurity for the moment. Anything is hackable.

the most valuable cryptocurrency with the most usage and biggest number of users is bitcoin. hackers have been trying to find exploits in bitcoin to hack it for 8.5 years and they have been failing.
the only thing they could do so far is hacking exchanges, stealing wallets with no password, and tricking idiots into giving them their private key directly Cheesy

edit:
here is a bitcoin MultiSig containing 119,635BTC = $282 Million
feel free to start hacking it Grin

https://blockchain.info/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r

ethereum is supposed to be a smart contract platform and already has the biggest shame of all times: the DAO
and the news keeps coming.
who is to say there aren't more exploits waiting to happen on this coin. there sure are a lot of them happening these days as price is still somewhat high.
you know hackers never kill something right away, they do it slowly to gain the value. like this hack which was only a small amount not all ($32 mil) while the main hacker could empty everything at once.

Seems I was right from the very begining, I didn't like this coin and for me main reasons were hardforks. Suddenly as we see it has bugs and is not safe, seems it's very hard for altcoins to be concurent of bitcoin, many fails.....
As you mentioned, bitcoin is safe (can't say it don't has bugs but currenrly no one has done anything).
I think there will be another etc hard forks again, hope finally something will be fixed at least

CrowdFunder

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Quote from: pey on July 20, 2017, 09:36:42 AM

No and I don' think there will be another fork in the future of ethereum. Besides, 110 million usd should be in the wallet of white hat hackers

Yes people from ICN and SWT confirmed it was a group they were working with that did the whitehat hack so the funds are 100% sure to be returned. And even if its not Vitalik already said there won't be another fork.

The reason for the previous fork was that the hackers would control too large a stake of the ethereum network which would be to their advantage after a PoS switch. This time even counting the whitehat we are only looking at 3% of the ethereum network, its just that its got a much higher value now due to ethereum having gone up in value.

Asmonist

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Quote from: chongo on July 20, 2017, 07:00:51 AM

guys I am a nub, who is affected from the hack? I have my eth on a Mist Wallet on my PC. Can my ETH be stolen aswell? I also got 10 ETC on Bittrex do I have to worry them getting stolen too?
I would be awesome if someone can clarify what exactly can be hacked and what not?!
thank you

The guys who hold their money in Parity wallet are affected.

teamcryptonator

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Quote from: panju1 on July 20, 2017, 11:10:36 AM

Quote from: BitcoinHodler on July 20, 2017, 07:13:26 AM

Quote from: polylogic on July 20, 2017, 07:08:50 AM

the dao was no hack, it was a feature.

am i the only one who finds this extremely discomforting!

Agree that the DAO was not a hack, but it would be wrong to call it a feature. At best, it could be called an exploit.
I sure hope there is no rollback again this time. ETH could afford a rollback in its initial days, not so now.

I think in present make ETH crash to $6 as October 2016 very hard, special in recently ETH is one of altcoin after Bitcoin have most user on crypto community, they are investor from ICOs, miner, trader ...
I guess if have crashing ETH in next time, 0.05 BTC/ETH or 50$ is good price and real value of ETH

panju1

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Quote from: BitcoinHodler on July 20, 2017, 07:13:26 AM

Quote from: polylogic on July 20, 2017, 07:08:50 AM

the dao was no hack, it was a feature.

am i the only one who finds this extremely discomforting!

Agree that the DAO was not a hack, but it would be wrong to call it a feature. At best, it could be called an exploit.
I sure hope there is no rollback again this time. ETH could afford a rollback in its initial days, not so now.

Coin++

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It's a little bit complex to answer the question, but I voted yes.
Yes because peoples are not responsable of the security issue of the wallet, then there are only 2 possibilities :
- the wallet dev reimburses peoples, but I think it is impossible,
- the blockchain is rolling back and ETH become ETC2

And so on... ETC3, 4, 5... for each issue with Ethereum :-).

Alternative

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Quote from: abdulmad on July 20, 2017, 12:33:09 AM

Wow just days after coindash hack and now this, this is not good for ether as a platform. Ether will surely take a knock on price.

Ethereum has nothing to do with this, but rather the wallet and the way the people that got stolen securised their funds. What you are saying is like if there was one hack on Electrum, not even all the Electrum wallets, Bitcoin would be responsible. In fact he would not be.

There will be no roll-back this time, as Vitalik ironised on this today.

iram3130

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Quote from: blakeh on July 20, 2017, 09:59:52 AM

Quote from: Herbert2020 on July 20, 2017, 12:13:08 AM

another huge loss for ethereum owners when the parity wallet multisignature was hacked and the hacker stole 153,037 ETH which is nearly $32 million worth of ETH.
https://ethplorer.io/address/0xb3764761e297d6f121e79c32a65829cd1ddb4d32

also another group of hackers took the opportunity to drain all the similar multisig addresses with the same vulnerability in ETH and similar tokens.
so far they have hacked the total amount of 379,999 ETH which is nearly $80 million worth of ETH
https://ethplorer.io/address/0x1dba1131000664b884a1ba238464159892252d3a

Do you think we will see another roll-back like the DAO $50 million hack and will it leave us with ETH 2.0 fork? Grin

Lucky for the white hats!

Lucky.? Only promises. There is no guarantee that it'll be returned and who will do that.?
I don't think there will be a rollback and what is gone is gone. The security should be increased when money is involved and it is something we are lacking yet.

blakeh

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Quote from: Herbert2020 on July 20, 2017, 12:13:08 AM

another huge loss for ethereum owners when the parity wallet multisignature was hacked and the hacker stole 153,037 ETH which is nearly $32 million worth of ETH.
https://ethplorer.io/address/0xb3764761e297d6f121e79c32a65829cd1ddb4d32

also another group of hackers took the opportunity to drain all the similar multisig addresses with the same vulnerability in ETH and similar tokens.
so far they have hacked the total amount of 379,999 ETH which is nearly $80 million worth of ETH
https://ethplorer.io/address/0x1dba1131000664b884a1ba238464159892252d3a

Do you think we will see another roll-back like the DAO $50 million hack and will it leave us with ETH 2.0 fork? Grin

Lucky for the white hats!

pey

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No and I don' think there will be another fork in the future of ethereum. Besides, 110 million usd should be in the wallet of white hat hackers

The real WTF

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Quote from: SonnetStar on July 20, 2017, 06:29:49 AM

I don't think a rollback should happen again. The first time was kind of a shock but now everyone knows that risk is possible and engaged with that knowledge. Another roll back would mean all credibility is lost for the coin

To many of us, the first rollback meant all credibility lost. I had hundreds of ETH that I sold for less than $20 right before they forked, and after the hard fork I watched ETH fall below $10 and keep dropping, and I thought that would be the end of ETH. Of course hindsight is 20/20 and I should have loaded up on cheap coins back in late 2016, but I didn't because I thought credibility was worth more than the market did.

vlom

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Quote from: polylogic on July 20, 2017, 07:08:50 AM

most people in this thread have no idea what they are talking about Cheesy

i wonder if i should block them all and save the time reading stupid ish.

whoever was bashing garvin, please, you try to write some code for the network.
eth is hackers paradise? the freaking internet is hackers paradise.

code is never perfect. maybe satoshis bitcoin, but it clearly came from the future, outta space behind orions belt....
everything build by human can be destroyed by human and even worse.

crypto is still beta, full of scammers, hackers, coders, investors, wanna be millionaires and what not.
the dao was no hack, it was a feature.
and people loose money since money exists. chill

and the ones who know how to control all the tech will be always a step ahead.
i wish i could find such bugs.

dennyd999

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Quote from: polylogic on July 20, 2017, 07:56:19 AM

Quote from: dennyd999 on July 20, 2017, 07:44:55 AM

His ability to code is questionable...

so, who else should continue to work on partity? Cheesy

i mean, if he hadnt had wrote the code, then there would be no parity or dao-payout, maybe ethereum wouldnt exists like it does.

its like blaming the sun that it is too hot Cheesy

sure you can do it, but would you be happier without it (the sun)? Cheesy

Exactly. It is a doomed circle. Without Gavin, Ethereum Network with Parity wallets and others stuffs is not existant. But what he do , offten lead to hacks.

Maybe he is genius, but it is allready 2 hacks (the bigest DAO and now) How many more hacks Gavin will relise??

Finalizing:

1 time in year Gavin Wood the creator of Ethereum do a shit which resulting in system hack. Cheesy

Maybe he is doing presents for himself and now chilling somewhere in Barbados.

rooster2000bka

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This info no good for this coin! ETH classis again? I don't think so! Because all coin affter confirm can not resent again!

polylogic

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Quote from: dennyd999 on July 20, 2017, 07:44:55 AM

His ability to code is questionable...

so, who else should continue to work on partity? Cheesy

i mean, if he hadnt had wrote the code, then there would be no parity or dao-payout, maybe ethereum wouldnt exists like it does.

its like blaming the sun that it is too hot Cheesy

sure you can do it, but would you be happier without it (the sun)? Cheesy

dennyd999

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Quote from: MegaHustlr on July 20, 2017, 07:26:51 AM

Quote from: BitcoinHodler on July 20, 2017, 07:13:26 AM

Quote from: chongo on July 20, 2017, 07:00:51 AM

guys I am a nub, who is affected from the hack? I have my eth on a Mist Wallet on my PC. Can my ETH be stolen aswell? I also got 10 ETC on Bittrex do I have to worry them getting stolen too?
I would be awesome if someone can clarify what exactly can be hacked and what not?!
thank you

from what i understood, this is the problem with Parity wallet of ethereum project and only in their multisignature wallets not the regular ones.
and if you have a multisignatue wallet there will be an icon in your parity wallet indicating this to you.
(please note that i have never owned ethereum outside of an exchange, i am just saying what i have read online from news and some research).

Confirming what he said. ^

Also note, Gavin has his own company and employs a lot of developers. Blaming him is a bit short-sighted.

He do not have an army of developers.

He is the one and only author of the last Parity Enhancement which leaded to hack.

Just look here

https://github.com/paritytech/parity/blob/4d08e7b0aec46443bf26547b17d10cb302672835/js/src/contracts/snippets/enhanced-wallet.sol

// @authors:
// Gav Wood <[email protected]>

No more other authors involved in this part of Parity Enhanchement.

He is responsable for this hack as he is responsable for DAO hack before.
His ability to code is questionable...

Sorry if I offense him, but its only facts.

And soon PoS (peace of shit) will come. Another great opportunity for hackers!

polylogic

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ʕʘ̅͜ʘ̅ʔ

Quote from: polylogic on July 20, 2017, 07:08:50 AM

the dao was no hack, it was a feature.

am i the only one who finds this extremely discomforting!
[/quote]

you simply cannot consider every possible scenario, you should, but you cant.
i didnt meant to discomfort you, im just saying that it was no hack.
the code was not mature enough. of course this shouldnt have happened.
especially not with this much money on the line.
but the hard truth is, the guy who cashed out the dao just used a feature of the system.
a feature which should never have existed.
but like i said, you cannot consider everything, sometimes you miss something.

MegaHustlr

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Vote 4fryn :)

Quote from: BitcoinHodler on July 20, 2017, 07:13:26 AM

Quote from: chongo on July 20, 2017, 07:00:51 AM

guys I am a nub, who is affected from the hack? I have my eth on a Mist Wallet on my PC. Can my ETH be stolen aswell? I also got 10 ETC on Bittrex do I have to worry them getting stolen too?
I would be awesome if someone can clarify what exactly can be hacked and what not?!
thank you

from what i understood, this is the problem with Parity wallet of ethereum project and only in their multisignature wallets not the regular ones.
and if you have a multisignatue wallet there will be an icon in your parity wallet indicating this to you.
(please note that i have never owned ethereum outside of an exchange, i am just saying what i have read online from news and some research).

Confirming what he said. ^

Also note, Gavin has his own company and employs a lot of developers. Blaming him is a bit short-sighted.

sil2222

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Quote from: abdulmad on July 20, 2017, 12:33:09 AM

Wow just days after coindash hack and now this, this is not good for ether as a platform. Ether will surely take a knock on price.

Condash is run by hackers. Coindash was accused of cheating using bots during an Eth contest. They are the same people behind getgemz scam. So this was not a legit hack just a fake ICO.

Topic: ethereum $110 million hack; Will we see another rollback and ETC.2? - page 2. (Read 3833 times)