It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
The bitcoin will be back to around 17.5$/BTC after we rollback all trades that have happened after the huge Bitcoin sale that happened on June 20th near 3:00am (JST).
One account with a lot of coins was compromised and whoever stole it (using a HK based IP to login) first sold all the coins in there, to buy those again just after, and then tried to withdraw the coins. The $1000/day withdraw limit was active for this account and the hacker could only get out with $1000 worth of coins.
Apart from this no account was compromised, and nothing was lost. Due to the large impact this had on the
[Update - 2:06 GMT] What we know and what is being done.
It appears that someone who performs audits on our system and had read-only access to our database had their computer compromised. This allowed for someone to pull our database. The site was not compromised with a SQL injection as many are reporting, so in effect the site was not hacked.
Two months ago we migrated from MD5 hashing to freeBSD MD5 salted hashing. The unsalted user accounts in the wild are ones that haven't been accessed in over 2 months and are considered idle. Once we are back up we will have implemented SHA-512 multi-iteration salted hashing and all users will be required to update to a new strong password.
We have been working with Google to ensure any gmail accounts associated with Mt.Gox user accounts have been locked and need to be reverified.
Mt.Gox will continue to be offline as we continue our investigation, at this time we are pushing it to 8:00am GMT.
When Mt.Gox comes back online, we will be putting all users through a new security measure to authenticate the users. This will be a mix of matching the last IP address that accessed the account, verifying their email address, account name and old password. Users will then be prompted to enter in a new strong password.
Once Mt.Gox is back online, trades 218869~222470 will be reverted.
it was only a matter of time before that happened, to be honest.
Originally posted by Crakeur
there's also a virus out there that seeks out your bitcoin "wallet" and steals the coins.
gizmodo.com...
that's two quick strikes against the funny money.
Yes, but there are also trojans and viruses that will steal your passwords and online banking information. It's up to the user to keep their digital wallet safe. Encrypting it is the first line of defense. It's just like if you leave your physical money unprotected and don't take the proper precautions, it is open to thieves.
Originally posted by Crakeur
there's also a virus out there that seeks out your bitcoin "wallet" and steals the coins.
gizmodo.com...
that's two quick strikes against the funny money.
Originally posted by Crakeur
there's also a virus out there that seeks out your bitcoin "wallet" and steals the coins.
gizmodo.com...
that's two quick strikes against the funny money
Originally posted by ChaoticOrder
Yes, but there are also trojans and viruses that will steal your passwords and online banking information. It's up to the user to keep their digital wallet safe. Encrypting it is the first line of defense. It's just like if you leave your physical money unprotected and don't take the proper precautions, it is open to thieves.
Originally posted by Crakeur
there's also a virus out there that seeks out your bitcoin "wallet" and steals the coins.
gizmodo.com...
that's two quick strikes against the funny money.
EDIT: But they really do need to make wallet encryption a part of the Bitcoin client.
edit on 20-6-2011 by ChaoticOrder because: (no reason given)
My online bank account has never been compromised either, but it does happen all the time. It's the principle. You can't call it unsafe because you didn't take the time to protect it.
ermh my bank has never been compromised.. well at least my real online money, through a reputable online banking system, with multi million dollar encryption
It could be used to pay the rent if it were an accepted form of payment by real estate or home owners. You can already buy many things with it, including physical items (mostly computer hardware at this stage). There no restriction on what it could be used to buy, assuming the payee accepts BTC as payment.
It's fantasy money that cannot be used in a real society to purchase necessities such as rent and the fact that someone can creat a virus to steal your precious WoW money makes it that much less desireable.
There are escrow type services like ClearCoin which can add security to Bitcoin payments. Most online business is automated anyway, and it's lot easier to avoid scamming when you buy physical items in real life (using bitcoin).
There are a plenty of ways to protect your real money and there are systems in place to protect individuals from theft of real money, such as insurance. Try filing a claim with the FDIC or the police when someone steals your platinum and your +3 sword of ogre slaying.
Originally posted by ChaoticOrder
reply to post by guessing
My online bank account has never been compromised either, but it does happen all the time. It's the principle. You can't call it unsafe because you didn't take the time to protect it.
ermh my bank has never been compromised.. well at least my real online money, through a reputable online banking system, with multi million dollar encryption
Originally posted by ChaoticOrder
It could be used to pay the rent if it were an accepted form of payment from by real estate or home owners. You can already buy many things with it, including physical items (mostly computer hardware at this stage). There no restriction on what it could be used to buy, assuming the payee accepts BTC as payment.
Originally posted by ChaoticOrder
it's lot easier to avoid scamming when you buy physical items in real life (using bitcoin).
You can move your wallet to where ever you like - flash drives, CD's, external HDD's, any type of electronic storage. You can even make multiple copies of it (encrypted copies) and save it in many different places. Can you back your "real" money in such a way?
But I can make a choice on where I put my money
Originally posted by ChaoticOrder
reply to post by Crakeur
Just because it is "virtual" doesn't make it less valuable than real physical money which you can hold. The majority of "normal money" is actually stored on computers anyway. And all money is actually stamped with various codes and numbers which are stored on computers. The paper it is printed on is simply a way to let you make transactions, but now-a-days most payments can be done with plastic cards anyway. Bitcoins could easily be stored on electronic cards. The advantage is that it's an electronic commodity, unlike normal money which can continually be injected into the money pool.
edit on 20-6-2011 by ChaoticOrder because: (no reason given)
Originally posted by ChaoticOrder
reply to post by guessing
You can move your wallet to where ever you like - flash drives, CD's, external HDD's, any type of electronic storage. You can even make multiple copies of it (encrypted copies) and save it in many different places. Can you back your "real" money in such a way?
But I can make a choice on where I put my money