The Bter Exchange Cold Wallet return to zero.... - page 3.

Soul_eater_123

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Quote from: mishax1 on February 15, 2015, 12:41:22 PM

At least we know that the alts are in place therefore we should at least get those back. Angry

That's not guaranteed. It didn't happen with Mintpal - some people got their other coins back but many didn't. For all we know the thieves may have access to other hot or "cold" wallets and just may be shifting the bitcoins first. Or the people at BTER may be desperately selling what they have left in other wallets so they can get away with some money and start again (assuming it wasn't an inside job anyway). Would be interesting to know how long they knew something was wrong.

Soul_eater_123

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Quote from: mishax1 on February 15, 2015, 12:04:20 PM

How the fuck can you lose 7000 bitcoins from a cold storage, and why on earth would you keep all the funds in 1 wallet ? who taught them to do security ?

Someone went in and stole the piece of paper with the private key for their cold storage on it:)

mishax1

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At least we know that the alts are in place therefore we should at least get those back. Angry

redsn0w

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#Free market

Quote from: BitCoinNutJob on February 15, 2015, 12:29:41 PM

Quote from: redsn0w on February 15, 2015, 12:21:13 PM

Quote from: BitCoinNutJob on February 15, 2015, 12:05:40 PM

Quote from: Bralex on February 15, 2015, 09:20:07 AM

7k Bitcoin minimum stolen 'by Bter' the shady exchange no one should have trusted Roll Eyes

wow 7k hacked that is pretty insane im guessing this is why the market dropped so hard today, people expecting dumps.

The various exchanges should start to use the multi-Sig function, an example of wallet that is using multiSing : GreenAddress ( this is their official thread here in the forum : https://bitcointalksearch.org/topic/greenaddress-open-source-multisig-wallet-service-521988).

I'm very impressive that a lot of exchanges are not using it.

Makes you start thinking these hacks are staged if multisig is so easy to implement. Roll Eyes

I think it will be impossible to "send" coin from a multiSig bitcoin address, if you don't know at least 2 of the 3 private keys. If they will use the multiSig (for their cold/hot wallet) I think this type of situation could be avoided.

BitCoinNutJob

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Quote from: redsn0w on February 15, 2015, 12:21:13 PM

Quote from: BitCoinNutJob on February 15, 2015, 12:05:40 PM

Quote from: Bralex on February 15, 2015, 09:20:07 AM

7k Bitcoin minimum stolen 'by Bter' the shady exchange no one should have trusted Roll Eyes

wow 7k hacked that is pretty insane im guessing this is why the market dropped so hard today, people expecting dumps.

The various exchanges should start to use the multi-Sig function, an example of wallet that is using multiSing : GreenAddress ( this is their official thread here in the forum : https://bitcointalksearch.org/topic/greenaddress-open-source-multisig-wallet-service-521988).

I'm very impressive that a lot of exchanges are not using it.

Makes you start thinking these hacks are staged if multisig is so easy to implement. Roll Eyes

redsn0w

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#Free market

Quote from: BitCoinNutJob on February 15, 2015, 12:05:40 PM

Quote from: Bralex on February 15, 2015, 09:20:07 AM

7k Bitcoin minimum stolen 'by Bter' the shady exchange no one should have trusted Roll Eyes

wow 7k hacked that is pretty insane im guessing this is why the market dropped so hard today, people expecting dumps.

The various exchanges should start to use the multi-Sig function, an example of wallet that is using multiSing : GreenAddress ( this is their official thread here in the forum : https://bitcointalksearch.org/topic/greenaddress-open-source-multisig-wallet-service-521988).

I'm very impressive that a lot of exchanges are not using it.

BitCoinNutJob

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Quote from: Bralex on February 15, 2015, 09:20:07 AM

7k Bitcoin minimum stolen 'by Bter' the shady exchange no one should have trusted Roll Eyes

wow 7k hacked that is pretty insane im guessing this is why the market dropped so hard today, people expecting dumps.

haggis

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I just hope they'll send the people responsible for this into prison this time...

mishax1

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How the fuck can you lose 7000 bitcoins from a cold storage, and why on earth would you keep all the funds in 1 wallet ? who taught them to do security ?

Whitehouse

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Quote from: Twipple on February 15, 2015, 10:55:39 AM

Will they be refunding all the stolen bitcoins or will declare bankcruptcy ?

They will not be able to realistically return those coins even if they wanted to. They're done as an exchange now. Nobody will use them.

verdun2003

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Quote from: Twipple on February 15, 2015, 10:55:39 AM

Will they be refunding all the stolen bitcoins or will declare bankcruptcy ?

Well, it's nearly 2 million USD that are "supposedly" stolen here.

Last time I checked, they were running 400 BTC daily volumes and had, if my memory serves, 0.5% trading fee
==> 2 BTC/day of turnover on their end to which you have to remove employee salaries, server costs, taxes etc...

Assuming generously that they have a 1 BTC/day net profit, this means 365 BTC per year, at current prices this is not even 100k USD.

Therefore, they will never refund the bitcoins they stole for themselves.

Twipple

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Will they be refunding all the stolen bitcoins or will declare bankcruptcy ?

davidpbrown

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Vires in Numeris

Quote from: verdun2003 on February 15, 2015, 10:38:16 AM

Quote from: turvarya on February 15, 2015, 10:36:11 AM

any statement from Bter about that?

Apparently yes:
"Bter has announcement.
http://weibo.com/p/1001603810634063024170"

Can't access the page though

via Google translate that page suggests:

Quote

About bit instructions regarding stolen children BTC
2015年2月15日 22:10
After preliminary examination to determine, February 14, 2015 Hackers use our instant hot from cold filled purse wallet, the bit cold TWS children all BTC wallet stolen, totaling 7170BTC, transfer records for：
https://blockchain.info/tx/f5b0363f03e1ed8bb812c135361ea93590c831ce9f13a3750be1b93575baccc6
We've February 15, 2015 the morning to the local police station and was accepted. We will actively cooperate with the police investigation, the recovery of stolen Bitcoins. At the same time, we are offering a reward of 7170 720BTC recover stolen Bitcoins here. To ensure the safety of other funds, we have taken technical measures to stop and turn off all the virtual currency trading online wallet, to do further checks. At the same time, we plan to arrange CNY extraction and other virtual currency as soon as possible to reduce the user to worry about. For losses caused by the user and we apologize
，
Up to now a bit child has been in operation for nearly two years. We traveled together to accompany the ups and downs of the bitcoin. We look at a variety of currencies to accompany the rise of decline. Please be assured that we will not run away, we will assume responsibility for the user to recover the stolen Bitcoins.

Original text:

Quote

关于比特儿BTC被盗一事的说明
2015年2月15日 22:10
经初步检查确定，2015年2月14日黑客利用我们从冷钱包填充热钱包的瞬间，将比特儿交易平台冷钱包中的所有BTC盗走，总额为7170BTC，转账记录为：
https://blockchain.info/tx/f5b0363f03e1ed8bb812c135361ea93590c831ce9f13a3750be1b93575baccc6
我们已经在2015年2月15日上午到当地派出所报案并被受理。我们将积极配合警方调查处理，追讨被盗的比特币。同时，我们在此悬赏720BTC追讨被盗的7170比特币。
为了确保其他资金安全，我们已经采取技术措施，停止交易并关闭所有虚拟币在线钱包，去做进一步检查。于此同时，我们计划尽快安排CNY以及其他虚拟币的提取工作，减少用户担心。对用户造成的损失我们深表歉意，
截止到现在比特儿已经运营了快两年了。陪大家一起走过了比特币的风风雨雨。陪大家看多种币种的衰落兴起。请大家放心，我们不会跑路，我们将承担责任，为用户追讨被盗比特币。

Whitehouse

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Merit: 250

We really need to get away for centralized exchanges and move towards decentralized ones. Until we do thefts and hacks like this will continue to happen.

Quote from: rich93 on February 15, 2015, 10:07:32 AM

Quote from: Picasso7 on February 15, 2015, 09:15:28 AM

How is possible to stole btc from cold wallet?

I thought it was impossible but Mark Karples says different.

Ha. But cold wallets aren't immune to inside jobs, which is probably what the Mt.gox situation was.

verdun2003

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Merit: 250

Quote from: mpr20rt on February 15, 2015, 10:41:02 AM

7170 BTC got stolen from our cold wallet in this transaction:

https://blockchain.info/tx/f5b0363f03e1ed8bb812c135361ea93590c831ce9f13a3750be1b93575baccc6

720 BTC bounty for chasing it back.

All wallets have been shut down and withdrawals of unaffected coins will be arranged later.

bter.com

They don't even take the time to apologize for their auto-hack. GentleHacker are getting rare these days.

mpr20rt

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7170 BTC got stolen from our cold wallet in this transaction:

https://blockchain.info/tx/f5b0363f03e1ed8bb812c135361ea93590c831ce9f13a3750be1b93575baccc6

720 BTC bounty for chasing it back.

All wallets have been shut down and withdrawals of unaffected coins will be arranged later.

bter.com

verdun2003

sr. member

Activity: 308

Merit: 250

Quote from: turvarya on February 15, 2015, 10:36:11 AM

any statement from Bter about that?

Apparently yes:
"Bter has announcement.
http://weibo.com/p/1001603810634063024170"

Can't access the page though

turvarya

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any statement from Bter about that?

EcuaMobi

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Quote from: havecoch on February 15, 2015, 10:03:08 AM

Quote from: Picasso7 on February 15, 2015, 09:15:28 AM

How is possible to stole btc from cold wallet?

there was a recent article saying that its possible that cold storages get hacked.

Are you talking about the article that clearly specifies that the cold address has to be generated on a compromised wallet for it to be hacked?

I really doubt Bter used such a wallet for its cold storage.

AtheistAKASaneBrain

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Quote from: Picasso7 on February 15, 2015, 09:15:28 AM

How is possible to stole btc from cold wallet?

The BTER guys deciding its time to pull the plug and running away with the money.

Again, people's fault for leaving their money there.

Topic: The Bter Exchange Cold Wallet return to zero.... - page 3. (Read 5472 times)