Market Crash: Mt Gox has been Hacked (Official Statement) - page 2.

nixxle

newbie

Activity: 47

Merit: 0

Quote from: Atheros on June 19, 2011, 03:08:00 PM

No, they really did get hacked- or at least someone leaked their accounts. Find yourself here:

Then, someone started cracking the MD5 password hashes and then, with passwords in hand, trying various accounts until they found one with lots of money. There is a $1000 per day withdrawl limit, so in order to get more bitcoins out, they had to crash the market close to 0 first. And that is what happened today.

The End.

Started cracking MD5 hashes? You have no idea what you are talking about.

The passwords in the accounts.csv are not MD5.

More likely, a hacker got access to the serer, did the damage he did ( dump BTC on the market from 1 account or something) and figured: while I am here, I might as well spice things up and make a full dump of the users database table.

Atheros

sr. member

Activity: 249

Merit: 251

No, they really did get hacked- or at least someone leaked their accounts. Find yourself here:

http://ifile.it/a3kl16j/accounts.csv

Then, someone started cracking the MD5 password hashes and then, with passwords in hand, trying various accounts until they found one with lots of money. There is a $1000 per day withdrawl limit, so in order to get more bitcoins out, they had to crash the market close to 0 first. And that is what happened today.

The End.

Nanodemon

newbie

Activity: 5

Merit: 0

Quote from: Beremat on June 19, 2011, 02:42:38 PM

The price isn't being set arbitrarily. It was $17.5 the second before the big sale, and that's what it's being rolled back to.

however, that will not correctly dictate the state of the market when the site comes back up, meaning its an arbitrary number at the time. If your buy and sell orders are based on that, when say...tradehill or some other exchange is significantly higher or lower, it stands to reason that you will lose or gain accordingly based on the state of the market as a whole. Its basically a fix, since everyone now knows that mtgox will be at 17.50 at around 1AM GMT.

Beremat

full member

Activity: 263

Merit: 100

YGOLD is a Defi platform

The price isn't being set arbitrarily. It was $17.5 the second before the big sale, and that's what it's being rolled back to.

bitsalame

donator

Activity: 714

Merit: 510

Preaching the gospel of Satoshi

Quote from: Shox on June 19, 2011, 02:28:26 PM

Was this thread really needed among the billions of others?

Sorry but that announcement has already been posted a few times.

Oh Really? Care to cite your "billion" posts?
The last time I checked everyone was just lost, the theories of conspiracies between TradeHill making a shady move against MtGox were the trending posts.

I am bringing the official statement from MtGox and stop the nonsense conspiranoid chattery.
Cheers

Nanodemon

newbie

Activity: 5

Merit: 0

account compromise != hack. Someone got keylogged, had an insecure password, or some other nonsense. this isnt "hacking"

monsterblitz

newbie

Activity: 24

Merit: 0

Quote from: Shox on June 19, 2011, 02:28:26 PM

Was this thread really needed among the billions of others?

Sorry but that announcement has already been posted a few times.

I checked & didn't see another post about this. It may have been posted in another topic or forum. Since this is an official announce, seem pretty appropriate considering the circumstances.

BitcoinPorn

hero member

Activity: 630

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Posts: 69

Quote from: bitsalame on June 19, 2011, 02:20:00 PM

My Opinion here, although it is unfortunate for the owner of the account, in the real world money stolen it is money gone.
The "reverting" back the transactions and "re establishing" the price arbitrarily IS NOT ACCEPTABLE. What is it, a game?

That is why in the real world have insurances.
We should create an insurance mechanism in the case of hacked accounts, but reverting back transactions is not acceptable

This is a game. All people are taking on all risks involved in this yet established currency (which I believe will stand against all these tests). I think we should all appreciate that Gox takes this responsibility on himself to be like 'holy shit, this is fucked up for so many people, I at the least have the power to change this one thing' and so he is. I'm seriously glad.

But yeah, in the end, insurance and all that good stuff comes with so many third parties. I think banks are obviously out with Bitcoins, but something along the line of sects and trusted groups will start coming out I think (it may already be starting with/within Pools).

jack_jones

newbie

Activity: 14

Merit: 0

In this context what does 'rollback' imply?

Shox

newbie

Activity: 6

Merit: 0

Was this thread really needed among the billions of others?

Sorry but that announcement has already been posted a few times.

bitsalame

donator

Activity: 714

Merit: 510

Preaching the gospel of Satoshi

The bitcoin will be back to around 17.5$/BTC after we rollback all trades that have happened after the huge Bitcoin sale that happened on June 20th near 3:00am (JST).

Service should be back by June 20th 10:00am (JST, 01:00am GMT) with all the trades reversed and accounts available.

One account with a lot of coins was compromised and whoever stole it (using a HK based IP to login) first sold all the coins in there, to buy those again just after, and then tried to withdraw the coins. The $1000/day withdraw limit was active for this account and the hacker could only get out with $1000 worth of coins.

Apart from this no account was compromised, and nothing was lost. Due to the large impact this had on the Bitcoin market, we will rollback every trade which happened since the big sale, and ensure this account is secure before opening access again.

--------------

My Opinion here, although it is unfortunate for the owner of the account, in the real world money stolen it is money gone.
The "reverting" back the transactions and "re establishing" the price arbitrarily IS NOT ACCEPTABLE. What is it, a game?

That is why in the real world have insurances.
We should create an insurance mechanism in the case of hacked accounts, but reverting back transactions is not acceptable.

Topic: Market Crash: Mt Gox has been Hacked (Official Statement) - page 2. (Read 6714 times)