NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 228.

DogeMajestic

full member

Activity: 139

Merit: 107

Quote from: rigel on January 26, 2018, 08:32:57 AM

Hacker accounts will be blacklisted by exchanges, his XEM will be useless.

I do not believe any human will or would be able to contact all places trading XEM before said coins are moving? (if true what I'm reading here - that there are stolen funds)

edit
Wow

Quote from: https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet

Lon Wong has appeared to confirm Coincheck was hacked, calling the stolen funds "the biggest theft in the history of the world."

tbandy

jr. member

Activity: 167

Merit: 5

Quote from: smart757 on January 26, 2018, 10:12:18 AM

Lets say for the sake of argument it is determined that the exchange is at fault here, not nem.
Then what? No hard fork leaves a bunch of pissed off users... Forking leaves a bunch pissed off as well.

This is bad all the way around. In any case, we just took a big kick to the balls that will take forever to recover from, if ever.

Well as far as I understand there is not officially confirmed it's just rumors, in the worst case scenario is like @fragout said Nem will have to burn some coins but
At the end you will not loose your investment Wink

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: nemwanderer on January 26, 2018, 10:00:34 AM

What on earth is happening here? If this continues NEM will enter a free fall it won’t come back from.

For someone with a 3c buy in you're awfully twitchy.

Those coins are toast. No exchange will touch them. There's no such thing as XEM mixing. They'll be forever marked. The only way they could be sold would be OTC and whoever bought them would still have permanently tainted coins that no one else would touch.

tbandy

jr. member

Activity: 167

Merit: 5

Quote from: smart757 on January 26, 2018, 10:12:18 AM

Lets say for the sake of argument it is determined that the exchange is at fault here, not nem.
Then what? No hard fork leaves a bunch of pissed off users... Forking leaves a bunch pissed off as well.

This is bad all the way around. In any case, we just took a big kick to the balls that will take forever to recover from, if ever.

This things like this happens, now is the time to show our support buying more NEM Wink

smart757

newbie

Activity: 51

Merit: 0

Lets say for the sake of argument it is determined that the exchange is at fault here, not nem.
Then what? No hard fork leaves a bunch of pissed off users... Forking leaves a bunch pissed off as well.

This is bad all the way around. In any case, we just took a big kick to the balls that will take forever to recover from, if ever.

suky321

sr. member

Activity: 382

Merit: 256

Bittrex is still allowing trading for XEM already within the exchange, but the wallet is on automatic maintenance along with 5 other coins.

I guess this is a precautionary measure.

Of course, this is pure speculation until we hear the facts.

fragout

legendary

Activity: 1279

Merit: 1018

Quote from: nemwanderer on January 26, 2018, 10:00:34 AM

Quote from: smart757 on January 26, 2018, 09:58:29 AM

Quote from: abaumgar on January 26, 2018, 09:25:26 AM

The XEM wallet at bittrex is on "Automated Maintenance".
How do other (your) exchanges handle it? I'm just curious.
Are there estimates how long they will have their wallets on maintenance?

Bittrex wallet down now too? This is not good.. not good at all.

What on earth is happening here? If this continues NEM will enter a free fall it won’t come back from.

Try reading a few posts above. Its not all bad (except for coincheck users) as it looks like 500 million NEM might be as good as burned.

abaumgar

jr. member

Activity: 58

Merit: 2

Quote from: nemwanderer on January 26, 2018, 10:00:34 AM

Quote from: smart757 on January 26, 2018, 09:58:29 AM

Quote from: abaumgar on January 26, 2018, 09:25:26 AM

The XEM wallet at bittrex is on "Automated Maintenance".
How do other (your) exchanges handle it? I'm just curious.
Are there estimates how long they will have their wallets on maintenance?

Bittrex wallet down now too? This is not good.. not good at all.

What on earth is happening here? If this continues NEM will enter a free fall it won’t come back from.

I don't think so, it's likely just a security measure.

nemwanderer

full member

Activity: 230

Merit: 100

Quote from: smart757 on January 26, 2018, 09:58:29 AM

Quote from: abaumgar on January 26, 2018, 09:25:26 AM

The XEM wallet at bittrex is on "Automated Maintenance".
How do other (your) exchanges handle it? I'm just curious.
Are there estimates how long they will have their wallets on maintenance?

Bittrex wallet down now too? This is not good.. not good at all.

What on earth is happening here? If this continues NEM will enter a free fall it won’t come back from.

fragout

legendary

Activity: 1279

Merit: 1018

Quote from: abaumgar on January 26, 2018, 09:25:26 AM

The XEM wallet at bittrex is on "Automated Maintenance".
How do other (your) exchanges handle it? I'm just curious.
Are there estimates how long they will have their wallets on maintenance?

Maintenance until they figure out what went wrong with coincheck. Makes sense. Or else they are scrambling to enable multisig which apparently coincheck didn't bother to.

Update :

NEM + Coincheck are working together to track + flag the hacked wallets + related accounts with the objective of tracing the ultimate owners of the suspected wallets. NEM is identifying + flagging suspected wallets holding the stolen funds + sending info to exchanges. More soon.

smart757

newbie

Activity: 51

Merit: 0

Quote from: abaumgar on January 26, 2018, 09:25:26 AM

The XEM wallet at bittrex is on "Automated Maintenance".
How do other (your) exchanges handle it? I'm just curious.
Are there estimates how long they will have their wallets on maintenance?

Bittrex wallet down now too? This is not good.. not good at all.

abaumgar

jr. member

Activity: 58

Merit: 2

The XEM wallet at bittrex is on "Automated Maintenance".
How do other (your) exchanges handle it? I'm just curious.
Are there estimates how long they will have their wallets on maintenance?

thehihoguy

sr. member

Activity: 497

Merit: 251

Quote from: suky321 on January 26, 2018, 09:04:34 AM

Quote from: thehihoguy on January 26, 2018, 08:49:24 AM

Quote from: suky321 on January 26, 2018, 08:47:02 AM

Quote from: rigel on January 26, 2018, 08:32:57 AM

Quote from: nemwanderer on January 26, 2018, 08:08:09 AM

Quote from: rigel on January 26, 2018, 06:56:47 AM

"As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"

Lon Wong, President of the NEM.io Foundation

Doesn’t really matter what the truth is, the crypto world is stupid and will read this as flaws with NEM’s product.

Depressing, going to take a long time to recover from this.

Hacker accounts will be blacklisted by exchanges, his XEM will be useless.

Consider those XEM as burned; the remaining, in the log run, will gain from this hack.

The accounts with the allegedly stolen funds have been tagged with a non-transferable mosaics already to do exactly that.

Mosaic: mizunashi.coincheck_stolen_funds_do_not_accept_trades:owner_of_this_account_is_hacker
Mosaic: gox:hackers_address

New to NEM
Curious how the mosaic works, is there a laymen explanation somewhere?
Like can the hacker not just transfer to a friends account and then to exchange?
or do wallets also check for that mosaic?
thanks in advance for explanations

Looking on the blockchain, the alleged funds have been moved to a few other accounts but are frozen and non-transferable and are still remaining in the account they've been transferred to.

Mosaics are assets you can create in the block chain. The nem.xem mosaic is a special mosaic that is equivalent to the xem in the system.

https://nem.io/technology/
https://nemlibrary.com/documentation/mosaic/

But doesnt it mean the mosaic is optional to check? So if a exchange like coincheck doesnt use it, the hacker could still transfer the coins?

or is it like fix rule now in the nem economy (like a smartcontract) that prevents transfer of those coins forever?

fragout

legendary

Activity: 1279

Merit: 1018

Whats the hackers address?
Feel sry for the coincheck users. I didn't realise they were the biggest trader of NEM or at least the biggest holder.
Fork would be a very bad idea though and it looks like they are not considering it

suky321

sr. member

Activity: 382

Merit: 256

Quote from: thehihoguy on January 26, 2018, 08:49:24 AM

Quote from: suky321 on January 26, 2018, 08:47:02 AM

Quote from: rigel on January 26, 2018, 08:32:57 AM

Quote from: nemwanderer on January 26, 2018, 08:08:09 AM

Quote from: rigel on January 26, 2018, 06:56:47 AM

"As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"

Lon Wong, President of the NEM.io Foundation

Doesn’t really matter what the truth is, the crypto world is stupid and will read this as flaws with NEM’s product.

Depressing, going to take a long time to recover from this.

Hacker accounts will be blacklisted by exchanges, his XEM will be useless.

Consider those XEM as burned; the remaining, in the log run, will gain from this hack.

The accounts with the allegedly stolen funds have been tagged with a non-transferable mosaics already to do exactly that.

Mosaic: mizunashi.coincheck_stolen_funds_do_not_accept_trades:owner_of_this_account_is_hacker
Mosaic: gox:hackers_address

New to NEM
Curious how the mosaic works, is there a laymen explanation somewhere?
Like can the hacker not just transfer to a friends account and then to exchange?
or do wallets also check for that mosaic?
thanks in advance for explanations

Looking on the blockchain, the alleged funds have been moved to a few other accounts but are frozen and non-transferable and are still remaining in the account they've been transferred to.

Mosaics are assets you can create in the block chain. The nem.xem mosaic is a special mosaic that is equivalent to the xem in the system.

https://nem.io/technology/
https://nemlibrary.com/documentation/mosaic/

thehihoguy

sr. member

Activity: 497

Merit: 251

Quote from: suky321 on January 26, 2018, 08:47:02 AM

Quote from: rigel on January 26, 2018, 08:32:57 AM

Quote from: nemwanderer on January 26, 2018, 08:08:09 AM

Quote from: rigel on January 26, 2018, 06:56:47 AM

"As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"

Lon Wong, President of the NEM.io Foundation

Doesn’t really matter what the truth is, the crypto world is stupid and will read this as flaws with NEM’s product.

Depressing, going to take a long time to recover from this.

Hacker accounts will be blacklisted by exchanges, his XEM will be useless.

Consider those XEM as burned; the remaining, in the log run, will gain from this hack.

The accounts with the allegedly stolen funds have been tagged with a non-transferable mosaics already to do exactly that.

Mosaic: mizunashi.coincheck_stolen_funds_do_not_accept_trades:owner_of_this_account_is_hacker
Mosaic: gox:hackers_address

New to NEM
Curious how the mosaic works, is there a laymen explanation somewhere?
Like can the hacker not just transfer to a friends account and then to exchange?
or do wallets also check for that mosaic?
thanks in advance for explanations

suky321

sr. member

Activity: 382

Merit: 256

Quote from: rigel on January 26, 2018, 08:32:57 AM

Quote from: nemwanderer on January 26, 2018, 08:08:09 AM

Quote from: rigel on January 26, 2018, 06:56:47 AM

"As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"

Lon Wong, President of the NEM.io Foundation

Doesn’t really matter what the truth is, the crypto world is stupid and will read this as flaws with NEM’s product.

Depressing, going to take a long time to recover from this.

Hacker accounts will be blacklisted by exchanges, his XEM will be useless.

Consider those XEM as burned; the remaining, in the log run, will gain from this hack.

The accounts with the allegedly stolen funds have been tagged with a non-transferable mosaics already to do exactly that.

Mosaic: mizunashi.coincheck_stolen_funds_do_not_accept_trades:owner_of_this_account_is_hacker
Mosaic: gox:hackers_address

sam_ti_dyatel

full member

Activity: 1176

Merit: 116

Quote from: rigel on January 26, 2018, 08:32:57 AM

Quote from: nemwanderer on January 26, 2018, 08:08:09 AM

Quote from: rigel on January 26, 2018, 06:56:47 AM

"As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"

Lon Wong, President of the NEM.io Foundation

Doesn’t really matter what the truth is, the crypto world is stupid and will read this as flaws with NEM’s product.

Depressing, going to take a long time to recover from this.

Hacker accounts will be blacklisted by exchanges, his XEM will be useless.

Consider those XEM as burned; the remaining, in the log run, will gain from this hack.

What about decentralized exchanges?
I agree it`s good time to buy XEM

rigel

legendary

Activity: 1240

Merit: 1001

Thank God I'm an atheist

Quote from: nemwanderer on January 26, 2018, 08:08:09 AM

Quote from: rigel on January 26, 2018, 06:56:47 AM

"As far as NEM is concerned, tech is intact. We are not forking. Also, we would advise all exchanges to make use of our multi-signature smart contract which is among the best in the landscape. Coincheck didn't use them and that's why they could have been hacked. They were very relaxed with their security measures,"

Lon Wong, President of the NEM.io Foundation

Doesn’t really matter what the truth is, the crypto world is stupid and will read this as flaws with NEM’s product.

Depressing, going to take a long time to recover from this.

Hacker accounts will be blacklisted by exchanges, his XEM will be useless.

Consider those XEM as burned; the remaining, in the log run, will gain from this hack.

thehihoguy

sr. member

Activity: 497

Merit: 251

C means hold and B means buy in weiss rating. C doesnt mean its useless or bad tech.

Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs - page 228. (Read 2984910 times)