MTGOX "UPDATE" | Bitcointalksearch.org

DooMAD

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Quote from: rojuwah on February 10, 2014, 11:02:34 AM

MtGox is the company that first reacted to a lesser known though serious fork in the blockchain of bitcoin. It can be taken as another bug, in the short history of bitcoin and the issue was client update. When some clients did the update as announced by bitcointalk, they unknowingly switched to another chain wheres the old-client-users were left behind with the old version of the chain. MtGox was first and maybe the only exchange halting the bitcoin transactions temporarily until the issue was solved, acting right. Check out: https://eprint.iacr.org/2013/829.pdf

Except for the part where no one's believing that for a second, sure. Grin

superduh

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Quote from: smoothie on February 10, 2014, 06:15:00 AM

So basically because MTGOX is running a custom version of the bitcoin client their user base is fucked on bitcoin withdrawals.

~~Other exchanges like BTC-e and bitstamp do not appear to have this issue.~~

Looks like more delay.

Sucks to be anyone with BTC or fiat stuck in MTGOX. It is looking like a prison for your money.

relax, smoothie

RandomPleb

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Quote from: RandomPleb on February 10, 2014, 06:27:36 AM

For the the first time in a very long time, I can see how MtGox could possibly come out of this smelling of roses...

Shouldn't really reply to my own post but is seems pertinent again in light of recent events...

rojuwah

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MtGox is the company that first reacted to a lesser known though serious fork in the blockchain of bitcoin. It can be taken as another bug, in the short history of bitcoin and the issue was client update. When some clients did the update as announced by bitcointalk, they unknowingly switched to another chain wheres the old-client-users were left behind with the old version of the chain. MtGox was first and maybe the only exchange halting the bitcoin transactions temporarily until the issue was solved, acting right. Check out: https://eprint.iacr.org/2013/829.pdf

flower1024

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Quote from: guybrushthreepwood on February 10, 2014, 09:44:26 AM

Quote from: picobit on February 10, 2014, 07:02:22 AM

Quote from: pazor on February 10, 2014, 06:58:02 AM

now it is time to buy litecoin !
Grin

Since litecoin is a clone of bitcoin, they probably have the same problem.

Note that although this is technically a flaw in the bitcoin protocol, it is not a serious one, at least not once it is known. It just means that before you conclude that a transaction did not make it into the blockchain, you have to check the blockchain a bit more carefully.

Isn't the flaw with the software they are currently using? If they updated I think it'd be fine.

hey cant update as they have developed it theirself...
and they managed to overlook a bug whixh is fixed in bitcoin for about 3 years

i'd like to know how much has been stolen

guybrushthreepwood

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Quote from: picobit on February 10, 2014, 07:02:22 AM

Quote from: pazor on February 10, 2014, 06:58:02 AM

now it is time to buy litecoin !
Grin

Since litecoin is a clone of bitcoin, they probably have the same problem.

Note that although this is technically a flaw in the bitcoin protocol, it is not a serious one, at least not once it is known. It just means that before you conclude that a transaction did not make it into the blockchain, you have to check the blockchain a bit more carefully.

Isn't the flaw with the software they are currently using? If they updated I think it'd be fine.

DooMAD

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Leave no FUD unchallenged

Sawadekub

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yea freaking noob FreaK MTGOX FOR THEIR COSTOM BITCOIN PROTOCOL!!!!

GUYS HURRY UP AND BUY THOSE BITCOINS FROM OTHER BROKERS!!!

BITCOIN RULES!!!!!! THATS WHY ITS BEEN HERE FOR THE PASS 5-6 YEARS FK U MTGOX.. U THINK WE ARE STUPID?

Last1212

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MTGOX LIERS!!!!!!!!!!!!!
http://www.cryptocoinsnews.com/2014/02/10/mt-gox-blames-bitcoin-core-developer-greg-maxwell-responds/

underhood

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Quote from: Sawadekub on February 10, 2014, 07:08:57 AM

only mtgox having this issue.. so wake up NOOB!

This is hard proof that issue is known and is not exclusive to MtGox:
https://en.bitcoin.it/wiki/Transaction_Malleability

Wish you a nice day too

Sawadekub

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only mtgox having this issue.. so wake up NOOB!

underhood

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Quote from: picobit on February 10, 2014, 06:56:23 AM

This really makes it looks like closing withdrawals was the right thing to do, at least until the problem was identified. They should be able to fix it in their own software.

This is not really about their software only. Flaw is in protocol.
What they do now from what I heard from MtGox staffis implement workaround (example looking for transaction not by hash but inputs/outputs as i said in previous post)
and later change bitcoin protocol to prevent this problem/attack --> this is the only real long term solution

They say they are discussing with Bitcoin core developers about how to do this temporary workaround as well as fixing Bitcoin protocol.

Seems like MtGox is really not to blame here.... maybe only for not noticing the issue sooner when the failed transaction count (or attack count) was lower.

picobit

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Quote from: pazor on February 10, 2014, 06:58:02 AM

now it is time to buy litecoin !
Grin

Since litecoin is a clone of bitcoin, they probably have the same problem.

Note that although this is technically a flaw in the bitcoin protocol, it is not a serious one, at least not once it is known. It just means that before you conclude that a transaction did not make it into the blockchain, you have to check the blockchain a bit more carefully.

pazor

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now it is time to buy litecoin !
Grin

picobit

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This really makes it looks like closing withdrawals was the right thing to do, at least until the problem was identified. They should be able to fix it in their own software.

underhood

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Well looking for transaction hash is normal way to look for transaction. This is how it was intended by Bitcoin developers.

However there is a bug found/known where attacker can change this hash. He cannot change the transaction only the hash. This way transaction goes trough and to sender it seems it didn't.
There is workaround where you simply look at transaction with same inputs and outputs in block-chain (ignoring hash) but is requiring much more work to do and is just workaround (you need to go trough all transactions one by one after date/time it was issued).

Truth seems to be that Bitcoin protocol is simply flawed ... thankfully only in non critical way (you cannot alter transaction only fool sender for some time).

proof issue is known: https://en.bitcoin.it/wiki/Transaction_Malleability
technical discussion about this https://bitcointalksearch.org/topic/mtgox-blames-bitcoin-protocol-problem-for-btc-withdrawal-issue-458076

mp420

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Quote from: mp420 on February 10, 2014, 06:30:25 AM

Quote from: underhood on February 10, 2014, 06:22:47 AM

Quote from: smoothie on February 10, 2014, 06:15:00 AM

So basically because MTGOX is running a custom version of the bitcoin client their user base is fucked on bitcoin withdrawals.

Other exchanges like BTC-e and bitstamp do not appear to have this issue.

Looks like more delay.

Sucks to be anyone with BTC or fiat stuck in MTGOX. It is looking like a prison for your money.

Nope they are blaming general security problem in Bitcoin protocol. Means it affects all users of bitcoin (it is not problem of single client but protocol). MtGox just seems to be attacked as first.

Yes this would make sense, but I would really like to have an independent expert confirmation that the issue really exists and can't be worked around just by changing MtGox's wallet code.

And it appears that this is a problem caused by MtGox looking at the wrong things when trying to find out if a transaction has been confirmed. So, while the protocol could be improved in this respect, they're pretty much admitting their incompentence.

mp420

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Quote from: underhood on February 10, 2014, 06:22:47 AM

Quote from: smoothie on February 10, 2014, 06:15:00 AM

So basically because MTGOX is running a custom version of the bitcoin client their user base is fucked on bitcoin withdrawals.

Other exchanges like BTC-e and bitstamp do not appear to have this issue.

Looks like more delay.

Sucks to be anyone with BTC or fiat stuck in MTGOX. It is looking like a prison for your money.

Nope they are blaming general security problem in Bitcoin protocol. Means it affects all users of bitcoin (it is not problem of single client but protocol). MtGox just seems to be attacked as first.

Yes this would make sense, but I would really like to have an independent expert confirmation that the issue really exists and can't be worked around just by changing MtGox's wallet code.

RandomPleb

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For the the first time in a very long time, I can see how MtGox could possibly come out of this smelling of roses...

underhood

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Quote from: smoothie on February 10, 2014, 06:15:00 AM

So basically because MTGOX is running a custom version of the bitcoin client their user base is fucked on bitcoin withdrawals.

Other exchanges like BTC-e and bitstamp do not appear to have this issue.

Looks like more delay.

Sucks to be anyone with BTC or fiat stuck in MTGOX. It is looking like a prison for your money.

Nope they are blaming general security problem in Bitcoin protocol. Means it affects all users of bitcoin (it is not problem of single client but protocol). MtGox just seems to be attacked as first.

Topic: MTGOX "UPDATE" (Read 2532 times)