ethereum $110 million hack; Will we see another rollback and ETC.2? - page 4.

Za1n

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Activity: 1078

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Quote from: BitJunky on July 20, 2017, 02:33:06 AM

As I gather this hack was not caused by any bug in Ethereum, but due to the vulnerability in Parity wallet implementation. So it'll be Parity whos gonna take impact, while eth will have very slight effect.

Yes, what happened was exactly that. However the fudders are out in full force trying to do what they do best, sow fear, uncertainty, doubt.

Za1n

legendary

Activity: 1078

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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.

Quote from: Za1n on July 20, 2017, 12:55:39 AM

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

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

No. Even Vitalik is already chiming in to dismiss such talk:

https://twitter.com/vitalikbuterin/status/887782650026631168

Quote

Vitalik Buterin‏@VitalikButerin 9 hours ago

1. Ecosystem less mature then
2. More at stake then as % of all ETH
3 [most impt]. Today's attacker can just move funds, so HF is impossible

in other words Vitalik coins were safe and he didn't lose anything. Grin

People have lost Bitcoins ever since it was first publicly available and yes some early wallets have had vulnerabilities. Brainwallet was also a big one in case you don't remember.

Anyway this wasn't a Bitcoin versus Ethereum discussion, it was to point out nothing is totally 100% safe. No wallets and no Blockchain.

zessyking

newbie

Activity: 3

Merit: 0

Fucking hacked coin , wallet, etc.. Should i sell Edgless now ?

BitJunky

newbie

Activity: 30

Merit: 0

As I gather this hack was not caused by any bug in Ethereum, but due to the vulnerability in Parity wallet implementation. So it'll be Parity whos gonna take impact, while eth will have very slight effect.

riskthebiscuit

sr. member

Activity: 518

Merit: 252

I did read an article months ago that said another ETH fork was possible, but I do not think it is likely to happen despite this hack. Having 3 ETH coins would be wayy too confusing for newbies IMO

NeuroticFish

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Looking for campaign manager? Contact icopress!

Quote from: klf on July 20, 2017, 02:08:41 AM

Quote from: 13abyknight on July 20, 2017, 01:48:58 AM

With how big Ethereum has grown its really a shame that they are letting things like this happen over and over again. I don't see a rollback happening but these hackings will definitely be a setback and will lower the price of Ethereum by a good margin.

If some other platforms like waves or some one else come up fast then Eth will lose its popularity. Whatever is happening is not good because it reduces investors confidence. Developers should find ways to avoid this kind of hacks happening. I also invested but still in profit so just keeping it.

The last month was not great for ETH, but the ones that entered long ago are still okay.
I am surprised though that the price didn't fall more after the news.
Ethereum is buggy and these things are bound to happen, maybe people are already used to this and don't care?! I somehow doubt that, but I don't have a better explanation.
Waves starts to become quite a competition for Ethereum, so I don't know how long this over-optimistic prices for ETH will last...

One Man Band

newbie

Activity: 36

Merit: 0

Quote from: Denker on July 20, 2017, 02:02:40 AM

Quote from: One Man Band on July 20, 2017, 12:25:19 AM

Quote

Isn't the second group white hat hackers that will return the funds?

Yes.

How do you know? You're one of them?
Just because they said being white hat hackers doesn't mean it has to be true.Maybe just some tactics to prevent another fork? I mean $110 million loss is something. Cheesy

And even if that should be the case and they are "white", remember what happened last time at the DAO? The white hacker tried to sell parts of the "saved" coins on Poloniex!!
So far nobody knows what's going to happen!
Ethererum, Solidity and all its with it connected Software is just a paradise for hackers.
Has much more holes then swiss cheese!

because thats my opinion as to what will happen.

it was easy for hackers because Parity released sloppy code into the network.

klf

legendary

Activity: 1344

Merit: 1000

Quote from: 13abyknight on July 20, 2017, 01:48:58 AM

With how big Ethereum has grown its really a shame that they are letting things like this happen over and over again. I don't see a rollback happening but these hackings will definitely be a setback and will lower the price of Ethereum by a good margin.

If some other platforms like waves or some one else come up fast then Eth will lose its popularity. Whatever is happening is not good because it reduces investors confidence. Developers should find ways to avoid this kind of hacks happening. I also invested but still in profit so just keeping it.

Korsakopf

full member

Activity: 210

Merit: 105

No rollback, check out Vitalek's tweet. Just store stuff on a hardware wallet. Anything else can be hacked. I never keep over 1000$ on exchanges. Price will bounce back

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: One Man Band on July 20, 2017, 12:25:19 AM

Quote

Isn't the second group white hat hackers that will return the funds?

Yes.

How do you know? You're one of them?
Just because they said being white hat hackers doesn't mean it has to be true.Maybe just some tactics to prevent another fork? I mean $110 million loss is something. Cheesy

And even if that should be the case and they are "white", remember what happened last time at the DAO? The white hacker tried to sell parts of the "saved" coins on Poloniex!!
So far nobody knows what's going to happen!
Ethererum, Solidity and all its with it connected Software is just a paradise for hackers.
Has much more holes then swiss cheese!

13abyknight

sr. member

Activity: 602

Merit: 252

With how big Ethereum has grown its really a shame that they are letting things like this happen over and over again. I don't see a rollback happening but these hackings will definitely be a setback and will lower the price of Ethereum by a good margin.

pearlmen

sr. member

Activity: 322

Merit: 250

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

Its so unfortunate that multi sig addresses in which we all believe should have some adequate level of security could even be vulnerable as this, and not even this alone at mattered but the opportunity it gives to other hackers to even get at the tech in other to get more funds even if its little. But in the real sense its going to be a big setback for proponents of ETH.

Herbert2020

legendary

Activity: 1946

Merit: 1137

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.

Quote from: Za1n on July 20, 2017, 12:55:39 AM

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

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

No. Even Vitalik is already chiming in to dismiss such talk:

https://twitter.com/vitalikbuterin/status/887782650026631168

Quote

Vitalik Buterin‏@VitalikButerin 9 hours ago

1. Ecosystem less mature then
2. More at stake then as % of all ETH
3 [most impt]. Today's attacker can just move funds, so HF is impossible

in other words Vitalik coins were safe and he didn't lose anything. Grin

yugyug

sr. member

Activity: 616

Merit: 256

i was wondering , do they have any financial security insurance just in case of a robbery or financial loss for these ethereum crypto currency. just like other banking company do, i don't know what kind of financial security for this kind of cryptocurrency business or how or what other financial institution are backing up in case the ethereum got screwed.

Za1n

legendary

Activity: 1078

Merit: 1011

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

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

No. Even Vitalik is already chiming in to dismiss such talk:

https://twitter.com/vitalikbuterin/status/887782650026631168

Quote

Vitalik Buterin‏@VitalikButerin 9 hours ago

1. Ecosystem less mature then
2. More at stake then as % of all ETH
3 [most impt]. Today's attacker can just move funds, so HF is impossible

Za1n

legendary

Activity: 1078

Merit: 1011

Quote from: BTCwriter on July 20, 2017, 12:40:44 AM

Again and again Ethereum have so much bugs

It was a specific implementation of a third party wallet, not ETH that was hacked. This would be like saying just because banks get robbed we should do away with cash.

Anything of value is a target, especially anything that can be accessed via online means.

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.

cola-jere

full member

Activity: 665

Merit: 107

ETH price will probably take a plunge, probably within a couple of weeks, if it had not started already....

BTCwriter

legendary

Activity: 1008

Merit: 1000

Again and again Ethereum have so much bugs

Fatoshi

sr. member

Activity: 672

Merit: 251

Ive said it before and ill say it again. XTRABYTES is the platform the future decentralised world will be built on. Secure, unhackable, scalable and any coding language can build on it. Remember it was me that told you.

abdulmad

sr. member

Activity: 672

Merit: 250

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.

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