People also need to be aware (or remember) that MtGox was originally a 'gaming' site. It started dealing in Bitcoins when it was considered by many to be 'play money'. Whos going to invest in website security when the currency your handling is worth 0.01c and your cut of a trade is 0.65%??
However the stakes have been raised. The currency value has skyrocketed and some big boys have come to play. This isnt a game anymore. MtGox have had to come to that realisation in less than 2 months. But to invest big $$ in website security to protect a currency that could potentially drop back to a few cents just as spectacularly would have been madness. They needed to allow time to see if the currency stabilised which it now has. The people that criticise MtGox need to consider this fact.
Topic: The upside to the MtGox hax - page 2. (Read 4271 times)
This will most certainly make them reassess their site security (though I suspect this was already something they were doing prior to this latest incident).
MtGox needs to be made secure as any site can be. It needs to employ the latest web security technology and needs to be run by experts in the field. Its not like MtGox doesnt have the funding to be able to do this either so there's no excuses.
This incident I believe is being handled well by the site owner/s. At the end of the day it will be 'business as usual' and no-one (including those who seemed to temporarily gain from this scammers actions) will be any the worse off.
I'll be allowing MtGox some more time to harden their security. These things take time. Im sure neither they nor anyone else remotely interested in Bitcoin could have foreseen the growth explosion that was about to occur just a couple of months ago. I also think people expecting MtGox to have been prepared and able to defend against experienced hackers is unreasonable. MtGox knows it unreasonable which I suspect is why put the maximum $1000/day withdrawal limit in place - just in case something like this should happen. But I wont be waiting forever. MtGox needs to act and act fast if traders are to maintain any level of confidence in their site. To not act will result in huge financial loss and others will pick up the ball and do what is required to secure traders against this type of attack. For now I'll let MtGox run with the ball - its their call as to where they and we go from here.
MtGox needs to be made secure as any site can be. It needs to employ the latest web security technology and needs to be run by experts in the field. Its not like MtGox doesnt have the funding to be able to do this either so there's no excuses.
This incident I believe is being handled well by the site owner/s. At the end of the day it will be 'business as usual' and no-one (including those who seemed to temporarily gain from this scammers actions) will be any the worse off.
I'll be allowing MtGox some more time to harden their security. These things take time. Im sure neither they nor anyone else remotely interested in Bitcoin could have foreseen the growth explosion that was about to occur just a couple of months ago. I also think people expecting MtGox to have been prepared and able to defend against experienced hackers is unreasonable. MtGox knows it unreasonable which I suspect is why put the maximum $1000/day withdrawal limit in place - just in case something like this should happen. But I wont be waiting forever. MtGox needs to act and act fast if traders are to maintain any level of confidence in their site. To not act will result in huge financial loss and others will pick up the ball and do what is required to secure traders against this type of attack. For now I'll let MtGox run with the ball - its their call as to where they and we go from here.
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