Author Topic: Bter hacked. PTS, bitassets withdrawal successful. Share you experience.  (Read 120588 times)

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Offline Ander

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I can't believe how many people there are supporting rollbacks (even if it's targeted rollbacks to a small set of transactions) in this thread. It completely undermines the blockchain.


Its not BTS, its their BTC.  We should all be okay.

Ironically, whoever dumped BTS on there yesterday might not get their BTC, lol.
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Offline Ander

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Holy shit, really bter?  Your cold wallet?


Thank god its not BTS.  "Withdrawals of the unaffected coins will be arranged later". 

If they dont get it back they are insolvent.  If they pay the 720 bounty and manage to get it back somehow they are probably solvent, like after the NXT hack, but I dont trust them anymore.
« Last Edit: February 15, 2015, 04:40:54 pm by Ander »
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Offline cube

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Perhaps that then is not formally a cold wallet hack. :-\

Where is there an unhackable decentralised exchange when you need one?

The translation was not good enough.

"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" translates to

"Hackers made use of the time we were restocking our hot wallet from cold wallet. They stole all the BTC from the Bter's cold wallet."
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Offline hpenvy2

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I can't believe how many people there are supporting rollbacks (even if it's targeted rollbacks to a small set of transactions) in this thread. It completely undermines the blockchain.

No one could trust that their transfers for goods/services would be final.

If we were to have such a policy, how would we decide which balances were the stolen ones? How would an innocent person accepting funds from those balances for legitimate trade of goods/services know that those balances were tainted before accepting them? Or do we just accept that those people (who didn't take an extra risk by trading on a centralized exchange) are going to lose for the benefit of bailing out the unfortunate victims who knowingly took the risk to trade on a centralized exchange?

Also, who is the authority that decides/confirms which balances were stolen, the stakeholders? If so, what quorum is necessary? Even if it is 75%, you risk having the other 25% dump the stake after the hard fork because of such an extreme change in policy, crashing the price. So then maybe a 95% quorum is necessary. But that is a ridiculously high percentage that is unrealistic to ever reach. Especially considering that the people most likely to vote for the hard fork are the people who lost their money (and therefore don't have the funds to vote with).

No rollbacks! The solution is to reduce our dependence on centralized exchanges.

Of course no rollbacks. The minute that happened you might as well stick a fork in the project.

Offline arhag

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I can't believe how many people there are supporting rollbacks (even if it's targeted rollbacks to a small set of transactions) in this thread. It completely undermines the blockchain.

No one could trust that their transfers for goods/services would be final.

If we were to have such a policy, how would we decide which balances were the stolen ones? How would an innocent person accepting funds from those balances for legitimate trade of goods/services know that those balances were tainted before accepting them? Or do we just accept that those people (who didn't take an extra risk by trading on a centralized exchange) are going to lose for the benefit of bailing out the unfortunate victims who knowingly took the risk to trade on a centralized exchange?

Also, who is the authority that decides/confirms which balances were stolen, the stakeholders? If so, what quorum is necessary? Even if it is 75%, you risk having the other 25% dump the stake after the hard fork because of such an extreme change in policy, crashing the price. So then maybe a 95% quorum is necessary. But that is a ridiculously high percentage that is unrealistic to ever reach. Especially considering that the people most likely to vote for the hard fork are the people who lost their money (and therefore don't have the funds to vote with).

No rollbacks! The solution is to reduce our dependence on centralized exchanges.

Offline xeroc

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Is it me or is the Bitshares network down as well?  I can't see anything on Client or on Bitsharesblocks.
Network in the green here

Offline Bitcoinfan

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Is it me or is the Bitshares network down as well?  I can't see anything on Client or on Bitsharesblocks. 

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Why do you worry about the snapshots? Bter announcement said nothing about anything stolen except BTC...

They may be worried that 7K missing BTC could cause them to close down. Its a legit concern for them. Although they were told, I am sure many times to not rely on third parties for things like this. I had .25 BTC on BTER and a buy order was in for BTS. Hopefully my trade got triggered before they shut it down but not a big loss if not.

Offline xeroc

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A "rollback" would only revoke one transaction and not a set of blocks!!
Everything else would be noobish

Offline xiahui135

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Yeah, but imagine what the world would think if we successfully thwarted a blatantly obvious MtGox type heist by voting as a community to roll back a couple transactions on the blockchian (and the transactions that sprouted from those of course) and returned to them to the affected party (BTER).

We would look like superman-coin!

And of course we could explain to Max Keiser, USA Today, Wall Strett Journal, Bloomberg, etc., that this was something that could only easily be done right now because our coin and community is so small (so no future guarantees)

reimburse those affected via donations.  Of course it would be much easier right now because hardly anybody is using  our blockchain.

What good is our BitShares VOTING capability if we cannot vote to thwart the greatest criminal villain mastermind in BTS history!

We would say that once 1.0 comes out, then it's every man, woman, and centralized exchange for themselves from that point onward or something to that nature.

If we do nothing but take it, then the price of BTS will fall like BTC after MtGox, if we become the first blockchain in history to thwart a crime, then we would gain the "centralized community control margin of safety" that causes Ripple to be such a high market cap that we crave.

BitShares - the first and only safe AND decentralized crypto (Ripple is "safely controlled" but not decentralized).

Safety builds confidence, and investors love confidence and transparency.

"the greatest criminal villain mastermind in BTS history!" << huh? You talk as though you know them.

Nobody has said anything about BTS being stolen.

I agree though that if something large enough like this were to occur.. I agree that a voting rollback would make tremendous headlines and would be a huge deterrent for any wannabe thieves.
It is not possible. there are people buy and sell BTS. if the system roll back, I can sell the bts twice. Every roll back is large harm, and the system will crash. maybe there should be other way to solve this, though we have not now.

Offline LRENZ

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Light/mobile wallet can not come soon enough. Not everyone has 999 GB RAM with SSD to make client work :(
Revolution is inevitable.

Offline santaclause102

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Why do you worry about the snapshots? Bter announcement said nothing about anything stolen except BTC...

Offline klosure

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I worry about snapshots.

If they indeed close down, I guess BM and co. can work with them and get the snapshot list. It would be a bit messy, though.
The would need to give their BTS private keys and find  way go migrate the user database including password hashes and 2FA seeds to BM. Sounds complicated.



Offline xiahui135

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To all those of you have large amounts of BTS on Bter, you get what you deserve. You could have been trading BTS:BitBTC on our own system.
i have no bts on bter. but i have to say it is because our client is not usable. Most the people can not install the client or sync.
I upgrade my computer form 4GB ram to 6GB,and instaled a win 64 bit to run the client. and I tried several times in a week until I succeed to sync. I also do not want to install the new version, because there is large change that i can not use it. I will use the lower edition until it will not work.This may be the reason why many people just not own BTS, and there is not much liquidity in the client.

Just hope everyone good luck.

P.S. my MUSIC and play snapshot is on bter though.

Offline oco101

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Hackers use our instant hot from cold filled purse wallet

lol !!! Why they even call it cold wallet ? So basically there was never a cold wallet !!