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Bitcoin: $64m in cryptocurrency stolen in 'sophisticated' hack, exchange says

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posted on Dec, 7 2017 @ 11:33 AM
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originally posted by: seentoomuch
a reply to: neo96

What is the current BTC price on the app?



$16,974.98

My poloniex account has it at $14,836.

Different sites different prices.
edit on 7-12-2017 by neo96 because: (no reason given)




posted on Dec, 7 2017 @ 11:40 AM
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originally posted by: neo96

originally posted by: Spider879

originally posted by: neo96
a reply to: bigfatfurrytexan


Who can afford those type of investments?


Practically anyone.

You can start buying for as little as $5 bucks.

People don't have to buy the whole kitten caboddle.

That's how ma boyz started off, I wished I had started when they did would have saved me a bundle brother.


So do I.

WIsh I gotten in on GBTC too.

Started off as a penny stock now it's over $1800 a share.

Bitcoin is the stuff dreams are made of, and most people never get in on.

Yes Neo- san I under stand the fear or concerns,
1) it's invisible you can't actually hold it in your hands.
2) what if someone broke the Internet.
3) there is no FDIC lose it for any reason and you're fked.
That's why I and many procrastinated.



posted on Dec, 7 2017 @ 11:42 AM
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a reply to: neo96

Thanks, Neo!

I didn't know there is a possibility of bargain shopping for Bitcoins.

Coinbase.com is kinda working again, I can see updated prices for Bitcoin, Ether, and Litecoin. On the graph of the activity it shows a flat line from 11:00 AM - 11:30 AM CST so I guess a lot of people weren't able to buy/sell during that time.

STM



posted on Dec, 7 2017 @ 11:49 AM
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a reply to: seentoomuch

I just saw that. dip.

BCH is doing good too.

Shame coinbase didn't give us the fork.



posted on Dec, 7 2017 @ 11:52 AM
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i'm shocked by this story (yawn) shocked



posted on Dec, 7 2017 @ 11:57 AM
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a reply to: neo96

Here's what the status page on the Coinbase site listed as the problems at that time, perhaps it was a massive transaction that brought coinbase down? From Singapore it looks like.

"The Coinbase status page says there's a partial outage on US Wires, a partial outage of Singapore bank payments, a degraded performance of SEPA transfers, and partial outage of ID verification."

And yes, Neo, I'd like more of a selection on Coinbase too.

STM



posted on Dec, 7 2017 @ 12:12 PM
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a reply to: seentoomuch

Nice long term trend.



Hare short of overbought.



posted on Dec, 7 2017 @ 02:13 PM
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a reply to: MindBodySpiritComplex

This is why I wouldn't suggest getting seriously involved in spending money on bitcoin. You can't even trust the exchange. I'm almost willing to bet that it'll be found in a few days that the person that runs this exchange bought a one way ticket to some far off land.

If you want to spend a couple of bucks and play around with it or mine some of your own, go right ahead. Anyone that invests in this is playing Russian roulette. If you loose, you can't simply call the cops to get your goods back. It's gone. No way to get it back, no matter what anyone says. Anyone can look back and see that in every case, the original owners lost out. I lost all of my coin via Cryptsy and that was a major exchange at the time. That fella stole many millions from us, left his wife in his multi million dollar house and bought a one way ticket to china. The best we could get out of his theft was the house that his wife lived in was liquidated for merely a million to pay off members. Most... Majority of that went to lawyers. I didn't even bother going through the lawyers payday plan because I knew I wouldn't get squat and I had MILLIONS of various crypto coins in that exchange that I spent a few year amassing from only a few bucks.

People laughed and said "Don't keep your coins in an online exchange"! Those people are idiots because that's the only way you can trade them.

I'm even surprised that they're trying to prosecute people who steal these coins since it can be argued that since it has no substance, it has no value. That's like buying and selling imagination.



posted on Dec, 7 2017 @ 02:19 PM
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originally posted by: bigfatfurrytexan
Its looking like nothing more than a bubble. And with the amounts of cash needing to be spent to drive that bubble, that would mean some folks are very heavily invested.

...

It smells to me like either a state player is buying up to pull the rug out from under it, or venture capitalists are in it to drive a bubble and create value out of mania.


You're not going to get a disagreement from me, the hyper growth is a warning sign for me that it very well could be approaching a crisis point.



posted on Dec, 7 2017 @ 02:21 PM
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Wrong wrong wrong!

Just plain wrong. You're very misinformed. I don't have the time to search each topic but I grantee you MOST of this list is false. A guy bought a lambo with coins he paid 150 bucks for. Just because stores in your area are not taking bit coin, MANY now are. Many companies identify bitcoin as currency. Some MAJOR businesses like Newegg, Overstock, expedia and so many more trade in bitcoin.



originally posted by: midnightstar
The most ten important things about Bit coin .
1 A kid cant buy candy with it
2 Walmart does not except it as a form of payment .
3 Car dealers will Not take it as a down payment .
4 Grocery Stores will not let you to buy food with it .
5 You can not pay bus fair with it ( exact chance plz )
6 Not even one bit coin excise in the world .
7 can not pay electric - water Bills with it .
8 can not use it to buy gas .
9 Can not buy a house with it
10 Can not use it to eat out - watch a movie
Yea hurry rush out and buy some bit coins this is going places ( every were but all the places listed .
carrying a 100 million bit coins on a thumb drive in small town USA and try renting a room .
metal money alest had the value of the stuff it was made from paper money is half a step away from being bit coin when people decide its just PAPER ( like duuuuu )
so lets just save ten steps to economic disaster and skip right to a currance that does not excist at all .
powers out O man now what ?
lol bit coin is a joke and the joke is on the fools who payed fake paper money for it .



posted on Dec, 7 2017 @ 03:33 PM
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Warning!

Coinbase just tried to recharge me from my bank account the exact amounts of my recent transactions that were pending plus the initial total transaction amount which is the true charge. My bank said if they had gone through they would've gone directly to Coinbase, not some hacker unless Coinbase itself is hacked.

Here's an example of the situation which I have stopped already:

Several days ago I signed up with Coinbase and deposited, let's say $3,000.00 in my USD wallet there. I purchased a few lite coins, ether and the rest in Bitcoin. On my account page on Coinbase it showed that the purchases were pending. Each type of currency in their own wallet showing the amount charged for each, let's say 1,000.00 each. It's been showing that for a few days now and they were to be delivered on 12/12/17.

So I've been expecting $3,000.00 to be taken out of my bank account at some point to cover the purchases. Today $3,000.00 was taken out by coinbase as expected but it was immediately followed with a debit of $1,000.00 to Coinbase, then another, then another.

Their site did crash today for a time, were they hacked? Is the system broken?

STM
edit on 7-12-2017 by seentoomuch because: (no reason given)



posted on Dec, 7 2017 @ 09:08 PM
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a reply to: seentoomuch

Have you gotten in contact with anyone at Coinbase to ask them about the extra transactions?

I would definitely want to know what they've got to say about it if I were you..



posted on Dec, 7 2017 @ 09:08 PM
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Volatility is def. norm, but this is growing bc of market participation. Its not going away bc of the price swings, the public is using crypto for transactions and will continue to do so. In a few weeks Bitcoin becomes a futures contract, and soon official ETFs will come too. And then wait till you see how many people swing into the market. Bubbles are relative, market participation, supply and demand, determine the rise and fall of prices. I dont own any, but i am a hell of a trader, and i am looking to be on the service side of this industry, thats my bet.



posted on Dec, 7 2017 @ 09:38 PM
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originally posted by: EternalShadow

originally posted by: Bluntone22
Bit coin is pixie dust money.

At least our pixie dust dollar bill is backed to provide stable ish value.

Maybe we should start a bit coin religion because it's all based on faith.


Backed by what exactly?


The same thing Bitcoin is back by.... wait the dollar bill isn’t backed at all.

Yet bitcoins take a hell of a lot of computing power to mine and I mean a lot and the more that are found the harder it is to mine them. Four years ago it took approximately $40 in electricity to mine just one bitcoin and that does not include the tens of thosands of dollars of equipment it takes to mine them.

It’s kind of like mining gold. It’s so hard to mine it actually takes very expensive equipment and high operating costs to mine. These costs alone give the bitcoin real value. Ask yourself, how much money does it cost to manufacture a one hundred dollar bill?

I haven’t looked at current numbers but I’m positive it takes waaaay over $40 in electricity alone to mine one bitcoin at today’s rates. I am curious to know the actual numbers in today’s terms however. Does any of you have this information? I’ll keep looking and if I find out I’ll update this post and make a new post.
edit on 12/7/2017 by Alien Abduct because: Corrected the spell corrector



posted on Dec, 7 2017 @ 09:39 PM
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I'm sure people know by now there is bitcoin visa cards that can be used at certain Bitcoin ATM Vendor Spaces. It's like going into a cell phone provider store or smaller.

It's feasible to create a bunch of VISA BITCOIN IMPOSTER CARDS with Forged Cards with all that Information that was stolen to duplicate everyone's card with their encrypted data transfer for resell into fiat currency market of country there in at time.

This can be done quickly ditching the cards quickly while buying up plane tickets constantly till many currencies have been accumulated in paper to small expensive items i.e Jewelry. Place into any locker in sealed discreet packaging then go back home in own country till the dust settles.

That's one scenario...so a creative thieves mind thinking outside the banking box can make it work well and leave chaff and subterfuge behind to incriminate others as well too. Would The Banking Oligarchy do this to support News and Journalism that would counter Crypto-Currencies and the neccessity? It seems more ridiculous going through a large bank already ...I wonder???
I mean...The Banking Oligarchy with all their History couldn't possibly portend to provide a un-corruptable system themselves??? Really...Banks have just as much potential and loop holes for corruption and manipulation of data!!!

Why does BITCOIN have to be the Demonized Alternative to an Already Corrupted and Over Manipulated System with No Question!?



posted on Dec, 7 2017 @ 09:45 PM
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a reply to: LostGods




Why does BITCOIN have to be the Demonized Alternative to an Already Corrupted and Over Manipulated System with No Question!?


It's (hehe) change. Massive change. People hate change.



posted on Dec, 7 2017 @ 09:53 PM
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a reply to: LostGods

Right!

Maybe they are angry that they won’t be able to make loans with their current 10% rule where as they only have to actually have 10% of actual money they loan out. What a farce!



posted on Dec, 7 2017 @ 10:52 PM
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originally posted by: lostgirl
a reply to: seentoomuch

Have you gotten in contact with anyone at Coinbase to ask them about the extra transactions?

I would definitely want to know what they've got to say about it if I were you..

Hi LG,

The only way to contact them is through email which has a message above it saying that they are experiencing problems due to traffic and it will be several days before they get back with customers. So, I wrote a very clear, specific description of what happened the whole time wondering if anyone there even reads them.

And wow, Coinbase is supposed to be the best of the exchanges? I wonder if their system did this to everyone who had a transaction in the last few days and was pending? Was it the crash today that did this?

Anyhow I'm sorta stuck with them for a few more days to see if the Bitcoin comes through at the price at the time of purchase (I left the true charge alone, it should go through) and then I'll move it to my own wallet, away from them. A total gamble. So everyone keep a close eye on your bank accounts, everything with them is way off.

And yes, before anyone asks I checked my computer to see if it was hacked per their instructions on their site and it hasn't been.

STM

ETA: Just found their support phone number on their Facebook page: 1 (888) 908–7930. I'll call them tomorrow. FYI a lot of complaints about today on Reddit and you don't even want to see the comments on Twitter.
edit on 8-12-2017 by seentoomuch because: (no reason given)



posted on Dec, 8 2017 @ 06:28 AM
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a reply to: strongfp

Yes, thats true.

Nothing in this world is perfect, but some things are closer than others.



posted on Dec, 8 2017 @ 02:32 PM
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a reply to: seentoomuch

So glad you found that phone number - and very kind of you to post it here!!

Please let us know what they say when you talk to them, as I really can't imagine what sort of 'defense' might be presented...

You're right, Coinbase is supposed to be "the best" (most trust worthy), but now your experience has me wondering -

- I mean, what if they are doing that sort of thing on purpose, thinking that people won't notice, and pocketing all that extra money?

I would bet there are a lot of people out there who are so hyped up with the current Bitcoin numbers - thinking they're going to be millionaires or something and not really paying attention to details like extra bank transfers here and there..



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