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Topic: Strongcoin.com owner stole user money - are my Bitcoins safe online? (Read 5686 times)

legendary
Activity: 1148
Merit: 1018
Strongcoin.com admin did the right thing - returning the funds to the legitimate owner, Graet and Ozcoin's miners.

But how could Strongcoin.com be sure that the owner of the strongcoin account was really the thief?

Maybe - unlikely but still possible - the holder of the strongcoin account bought this amount of bitcoins by cash (not knowing that they were stolen). He also is not obligated to tell the truth to the strongcoin admin of how he got the coins. So maybe strongcoin admin took away the coins from an honest owner.

All this is just speculation (and probably very unlikely), but I just want to make a point here. Strongcoin just lost all its trust by this action (imo).

john


It seems that the proofs where quite credible.

Anyhow, we all know that it's not the admin of a service who has the right to decide and seize funds - that's authorities task.

I hope everybody takes this as an example of a very important lesson: never leave more than pocket change in third party services, regardless of how secure they seem (Google authenticator, Yubikey, whatever). And remember also that in the Bitcoin world, today's pocket change can be tomorrow's retirement money.
newbie
Activity: 41
Merit: 0
Strongcoin.com admin did the right thing - returning the funds to the legitimate owner, Graet and Ozcoin's miners.

But how could Strongcoin.com be sure that the owner of the strongcoin account was really the thief?

Maybe - unlikely but still possible - the holder of the strongcoin account bought this amount of bitcoins by cash (not knowing that they were stolen). He also is not obligated to tell the truth to the strongcoin admin of how he got the coins. So maybe strongcoin admin took away the coins from an honest owner.

All this is just speculation (and probably very unlikely), but I just want to make a point here. Strongcoin just lost all its trust by this action (imo).

john
newbie
Activity: 6
Merit: 0
sure, this is totally believable.
newbie
Activity: 14
Merit: 0
I don't really trust keeping bitcoins online for a long period of time. Why take the risk.
legendary
Activity: 1274
Merit: 1004
He did a good job by returning bitcoins to original owner but yes it shows His site is not secure, If one day he gets hacked, all customer can loose their bitcoins.

He sounds like a really nice guy but Money Can Corrupt A Good Person,if one day he decides to go rouge he can easily steal all money.
newbie
Activity: 6
Merit: 0
If you want your bitcoins to be safe, then don't put them in an online wallet of any sort.
Keep them offline, dark, hidden, secret, my preccciouussss.
legendary
Activity: 1148
Merit: 1018
Disgusts me, how can people be so greedy as to steal another persons investment...  Cry

Strongcoin.com admin did the right thing - returning the funds to the legitimate owner, Graet and Ozcoin's miners.

But, the point still persists - how can they boldly claim that NO ONE can access to users funds when this is blatantly not true?
newbie
Activity: 14
Merit: 0
Disgusts me, how can people be so greedy as to steal another persons investment...  Cry
legendary
Activity: 1512
Merit: 1012
Still wild and free
Utter bullshit. They can do whatever they want with your funds Sad
+1
I'm surprised how quiet things are around this, given the obvious and HUGE contradiction between claims and facts.
legendary
Activity: 1148
Merit: 1018
I wonder why guy who stole money from Graet put them into strongcoin?

I guess he was convinced too that Instawallet, Strongcoin, Blockchain.info are the best way to mix your coins. Yeah. And to loose them.

Anyhow, I think he still got away with BTC389 - not bad considering the mistake he did.
full member
Activity: 238
Merit: 100
I wonder why guy who stole money from Graet put them into strongcoin?
legendary
Activity: 1148
Merit: 1018
It's pretty close to true.  The hacker did spend them -- he was just tricked into sending them to the strongcoin operator.

No online wallet is 100% safe.

Let's do not play games. No online wallet is safe at all
cp1
hero member
Activity: 616
Merit: 500
Stop using branwallets
It's pretty close to true.  The hacker did spend them -- he was just tricked into sending them to the strongcoin operator.

No online wallet is 100% safe.
legendary
Activity: 1148
Merit: 1018
So, no answer on this. Admin was able to "intercept" the funds as easily as stealing a candy to a baby. I really don't know how they can then write things like this:

Therefore our servers only hold encrypted private keys and neither we nor anyone else can spend your Bitcoins. Only you.

Utter bullshit. They can do whatever they want with your funds Sad
legendary
Activity: 1148
Merit: 1018
Well, what happened to this?

Quote
What is a hybrid wallet ?
A hybrid wallet allows you to send and receive Bitcoins just like any other wallet. However, the Bitcoin private key which is required to send money is encrypted in your browser before it reaches our servers.

Therefore our servers only hold encrypted private keys and neither we nor anyone else can spend your Bitcoins. Only you.

How was dogisland able to "seize" those funds to return them back to Graet? Maybe he modified the site, so all the transaction originated by the thief went to an address controlled by him?

IMO this confirms again that shared wallet/third party services are insecure by nature and thus should be avoided, regardless of super strong passwords, encryption, 2 factor authorization, etc. etc. etc.

It's a pity because really secure third party services are need for BTC (for example for trading)
member
Activity: 70
Merit: 10

I hope I have missed something essential here


Graet, not Garet Wink

o.0 did you say garet???

(hides valuables)

Smiley
member
Activity: 112
Merit: 10
They could have done all of that with a JS change even without knowing the private keys.
legendary
Activity: 1400
Merit: 1005
Well, you got a point there actually. What happened to this? :

Quote
What is a hybrid wallet ?
A hybrid wallet allows you to send and receive Bitcoins just like any other wallet. However, the Bitcoin private key which is required to send money is encrypted in your browser before it reaches our servers.

Therefore our servers only hold encrypted private keys and neither we nor anyone else can spend your Bitcoins. Only you.

Please do not use any online wallets if you value your coins. If strong coin.com was rooted, funds would be stolen easily from users despite that statement above.
That's a blatant lie from Strongcoin then, unless not all of their wallets are hybrid wallets.
newbie
Activity: 1
Merit: 0
I am sorry to say I am only a observer, taking interest in BTCs lately, that tries to shine light on this situation from another perspective.

Sure, sure, this is totally believable. Someone just signs up out of nowhere, and their very first post on Bitcointalk is regarding this situation which in no way concerns them personally. No, it does not look like a disgruntled thief created a sock puppet account to vent their frustration about the lost spoils. Not at all.

I just started mining a week ago with Oz and so i've followed this very closely and all I can say is Lotuss P@wned Smiley  lmao
member
Activity: 120
Merit: 10
900 bitcoins is a fortune Shocked

I would never trust the online wallets.
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