Author Topic: Bter hacked. PTS, bitassets withdrawal successful. Share you experience.  (Read 120615 times)

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Offline xeroc

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I worry about snapshots.
... and vested balances

Offline monsterer

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Hackers use our instant hot from cold filled purse wallet,

That totally defeats the entire purpose of cold storage.
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sumantso

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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.

Offline hpenvy2

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I worry about snapshots.

Offline matt608

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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.

hardly, cryptohedge was/is performing a valuable service enforcing the peg on exchanges.
Also true .. sucks .. maybe @Rune can tell us how much btc may be lost

word, this sucks, which is why we need to expand our selection of bitAssets to include everything on coinmarketcap100 (because that's what all the crypto traders are trading) before we create feeds for BitSteel, BitCorn, and BitPalladium (where it's difficult to have an accurate 24hr feed).  Wouldn't it be easier to make BitDODE because it trades 24/7?

To have market pegged assets in the current way for anything there has to be enough demand for the peg to work and with altcoins there almost definitely isn't enough, and it harms them by taking demand away for the original coin.

My non-technical self wonders if that could be done by burning the original coin to get a bitWhatever version of it, which could be traded against anything on bitshares.

e.g. someone sends 1LTC to a burn address and recieves bitLTC in return which can then trade against anything on BitShares.  Is that useful?  You can't do that for bitUSD because you can't provably burn USD but with crypto's you can.  It could be a stupid idea... thought I'd say it anyway.

Offline davidpbrown

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

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。

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

Where is there an unhackable decentralised exchange when you need one?
฿://1CBxm54Ah5hiYxiUtD7JGYRXykT5Z6ZuMc

Offline joele

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Bitshares should have consensus that if a centralized exchanger hacked and stole the BTS, it will be forked to reverse the transaction, this way hacker will not bother to touch the BTS. :D

Offline BunkerChainLabs-DataSecurityNode

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.
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sumantso

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If Bter shuts down, wonder what will happen to all those snapshots.

Offline joele

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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.

hardly, cryptohedge was/is performing a valuable service enforcing the peg on exchanges.
Too bad, bter ruins it.

Offline xeroc

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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.

hardly, cryptohedge was/is performing a valuable service enforcing the peg on exchanges.
Also true .. sucks .. maybe @Rune can tell us how much btc may be lost

Offline Riverhead

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.

hardly, cryptohedge was/is performing a valuable service enforcing the peg on exchanges.

Cryptohedge did not have large BTC balances. If Bter keeps coin balances on their native chains we'll be fine. We also have funds elsewhere for hedging. While market making on a centralized exchange is risky it needs to happen and the risk can be mitigated via hedges.

Offline matt608

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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.

hardly, cryptohedge was/is performing a valuable service enforcing the peg on exchanges.

Offline speedy

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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.


JAJAJAJAJAJ

yeah can say too, if you never buy bts sure not have this problems WTF

Yeah I bought BTS from there too, but I withdrew it immediately.

Offline xeroc

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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.
lol .. harsh but true: we told you so :)
Anyway making use of this for marketing will harm our good relations to bter .. wouldnt be fair to bash them .. imho