Mixin is being hacked | Bitcointalksearch.org

Quidat

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Quote from: Stalker22 on September 30, 2023, 04:47:49 PM

Quote from: The Cryptovator on September 30, 2023, 03:01:55 PM

Everything is making me more confused. Anyone help me to clear something up?I wasn't familiar with Mixin the first time I heard about it. It seems they claimed to be a decentralised wallet service. So how would their funds be stolen through a database attack in a cloud store? Was it their personal funds? Because users data shouldn't be stored anywhere on a decentralised wallet. Only users should secure their private keys. Without private keys or seeds, hackers won't attack users funds. It's the funds owner is Mixin, then reasonable. But how could even such a company store their credentials in a store? Why don't they use cold storage?

I believe those were user funds because I came across information regarding the company's plans for reimbursement. However, it might be better to continue this discussion in the other thread where some useful information about the hack has already been shared, or in the Mixin Safe official ANN.

The OP in this thread clearly does not know what he is talking about and appears to be simply trying to boost his post count.

Totally right!

There's a difference between a mixing service and a decentralized wallet which it is obvious that he is really just trying to just simply read up that "Mixin" to be automatically be considered to be a mixing
service. LOL! Totally this guy didnt really that make out that research first before making up some post on and do make look himself like a clown.

On the other hand, speaking about being decentralized then the only thing i do trust is Electrum if we do speak only Bitcoin thing but with those multiple cryptocurrencies then i highly doubt that.
New service? It havent prove out itself yet into this market and seeing that they are really that running a campaign as far as i remember and now with few weeks then hacked happen.
Totally sad for those who had been affected specially into those who have bigger funds.

Good thing or news that they do mention abot compensation or reimbursement with those people who had been affected. This is why i dont usually trust up
on the time that there's someone who do claim about being that decentralized until its proven.

Stalker22

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Quote from: The Cryptovator on September 30, 2023, 03:01:55 PM

Everything is making me more confused. Anyone help me to clear something up?I wasn't familiar with Mixin the first time I heard about it. It seems they claimed to be a decentralised wallet service. So how would their funds be stolen through a database attack in a cloud store? Was it their personal funds? Because users data shouldn't be stored anywhere on a decentralised wallet. Only users should secure their private keys. Without private keys or seeds, hackers won't attack users funds. It's the funds owner is Mixin, then reasonable. But how could even such a company store their credentials in a store? Why don't they use cold storage?

I believe those were user funds because I came across information regarding the company's plans for reimbursement. However, it might be better to continue this discussion in the other thread where some useful information about the hack has already been shared, or in the Mixin Safe official ANN.

The OP in this thread clearly does not know what he is talking about and appears to be simply trying to boost his post count.

The Cryptovator

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Everything is making me more confused. Anyone help me to clear something up?I wasn't familiar with Mixin the first time I heard about it. It seems they claimed to be a decentralised wallet service. So how would their funds be stolen through a database attack in a cloud store? Was it their personal funds? Because users data shouldn't be stored anywhere on a decentralised wallet. Only users should secure their private keys. Without private keys or seeds, hackers won't attack users funds. It's the funds owner is Mixin, then reasonable. But how could even such a company store their credentials in a store? Why don't they use cold storage?

Stalker22

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Quote from: Onyeeze on September 30, 2023, 05:32:53 AM

It's over one week or some days making it one week mixin has being hacked, and the ethics of mixin or mixer is that any coin mixed by mixing platform is untraceable but they got hacked, the questions is that which wallet did those hackers hacked? Because if it happens to be custodial wallet or non custodial wallet as we discussed the security level of this wallets that means no wallet that can not be hacked and no wallet is safe for penetration. We do discussed of hardware wallet, hot wallet and cold wallet, so which of high security wallets does this mixin and exchanges use for their transaction.

I am a bit puzzled here... So, if you are not familiar with what Mixin offers or what their services are all about, how did you end up writing a review of Mixin Safe and getting paid for it? Was it all a sham, or did someone else handle the review on your behalf? Just trying to understand the whole picture here.

https://bitcointalksearch.org/topic/m.62660532

Did you lie that you actually tested their service and writing that review?

Zaguru12

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First of all Mixin isn’t a mixer that mixes coins but rather it is like a decentralized wallet or say like exchange where you can store your coins and Also offers the option to covert to the fiat currency. They run on more like a multi sig where you can add users who can also be part of your multi sig authorizer. So it is not a mixer

Also no wallet is available immune to been hacked as long has the hackers got access to your keys, the easiest ones are the online wallet where your private keys are exposed to the internet. Although not sure which of the wallets used by Mixin but just like regularly exchanges that holds your coins they usually have some of this funds on both hot and cold wallet. The ones on the hot wallets are mostly the ones usually affected when an hack happens, so probably it could be it or maybe it’s an insider hack

You can follow this discussion on a an already existing thread https://bitcointalksearch.org/topic/mixin-network-hacked-200-million-lost-5467994

Edit; read replies above

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Quote from: Onyeeze on September 30, 2023, 05:32:53 AM

It's over one week or some days making it one week mixin has being hacked, and the ethics of mixin or mixer is that any coin mixed by mixing platform is untraceable but they got hacked, the questions is that which wallet did those hackers hacked?

What do mixers (in general) have to do with the fact that that platform is hacked? Mixin is not a mixer but presents itself as a decentralized crypto network and as things stand it is very very incapable of protecting what it should protect. Besides, why would coins that have passed through a mixer be better protected from hackers, that doesn't make any sense?

Quote from: Onyeeze on September 30, 2023, 05:32:53 AM

Because if it happens to be custodial wallet or non custodial wallet as we discussed the security level of this wallets that means no wallet that can not be hacked and no wallet is safe for penetration. We do discussed of hardware wallet, hot wallet and cold wallet, so which of high security wallets does this mixin and exchanges use for their transaction.

Their data that was stored in a cloud database was hacked, what more needs to be said than that? The fact that you have a company and that you claim to be an expert in something means nothing today, and you can have as much proof of that as you want if you look at all the scandals related to cryptocurrencies in the last 4-5 years.

You have more to read here -> https://bitcointalksearch.org/topic/mixin-network-hacked-200-million-lost-5467994

Onyeeze

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It's over one week or some days making it one week mixin has being hacked, and the ethics of mixin or mixer is that any coin mixed by mixing platform is untraceable but they got hacked, the questions is that which wallet did those hackers hacked? Because if it happens to be custodial wallet or non custodial wallet as we discussed the security level of this wallets that means no wallet that can not be hacked and no wallet is safe for penetration. We do discussed of hardware wallet, hot wallet and cold wallet, so which of high security wallets does this mixin and exchanges use for their transaction.

Topic: Mixin is being hacked (Read 113 times)