Slashdot Mirror
Hackers Steal $5M In Bitcoin During Bitstamp Exchange Attack
itwbennett writes: After a weekend hack forced the Bitcoin exchange Bitstamp to shut down, Bitstamp has revealed that $5 million worth of bitcoin was stolen during the attack. And that's not all the bad news for Bitcoin this week: Canadian Bitcoin exchange Vault of Satoshi announced it is is no longer accepting new deposits and will close Feb. 5. But in this case the operators are pursuing new business opportunities, saying in a post that the shutdown "has absolutely nothing to do with insolvency, stolen funds, or any other unfortunate scenario."
Bitcoin loss
After such toil
All goes to dross
Like $100/bbl oil
Burma Shave
Get thee glass eyes, and, like a scurvy politician, seem to see things thou dost not.--King Lear
but who be dey, hm?
Oh shit!
Bitstamp co-founder Damijan Merlak said that Bitstamp plans to resume its operations in the next 24 hours. Hot-wallet did what hot-wallets are designed to do, compromise only resulted in a minor loss (relatively). If bank of america and other major institutions cannot keep your info out of the hands of hackers why would you think any other website is infallible?
Own your own keys, be responsible for your own money. Unless you are day-trading there is no reason to leave a money on an exchange earning zero interest.
This is unpossible.
I have it from the highest authorities on Slashdot that BitCoin represents the finest, most secure, and most amazing form of currency in existence. There is no possible way that this could have been hacked - I bet this is a false flag operation by the NSA.
Bitcoin!
And these incompetent operators is what is causing cash to lose credibility. An unregulated, anonymous currency that is stored with unregulated, uninsured entities is immediately a bad idea and people supporting them and then being fleeced by them or their poor security practices and policies is really damaging cash.
Is it? Is it really? I haven't exactly seen a decrease in the use of cash. Though I aslo haven't seen a significant increase either. However among those using it they still seem to be using it.
Seems the same to me.
Peter predicted that you would "deliberately forget" creation 2000 years ago...
5 million dollars were not lost. Stop speaking of Bitcoins in terms of real currency. The fact you keep relating it to currency means that cash is king and you have no argument that could prove otherwise, until you only speak of Bitcoins in terms of number of Bitcoins.
Bitcoin is the future! The American Dollar is the tool of the bourgeoisie, and slave owners (some white people owned slaves a century or two ago, so that means all whites living today are guilty of the same crime, regardless of whether or not their ancestors owned slaves). We should destroy the banks! We should riot and burn down our own neighborhoods when the law is enforced! We should kill and rape as many white people as we can!
Hahahaha!!
Black Power, motherfuckers. ...black power. :)
Utterly classic!
Given law enforcement's inability and unwillingness to investigate any online crime, combined with the complete lack of government regulation or even recognition as a legal tender, what is stopping the exchange operators from simply stealing the bitcoins and then saying they were hacked?
"Sorry, we got hacked and all your coins are gone. It was probably criminals in Russia / North Korea / Elbonia. Look! They covered their tracks so well, they made it look like the attack came from the Starbucks across town. We lost all our money, too, so we're shutting down and filing bankruptcy. Better luck next time."
Is there any way to track the stolen coins and void them? I wouldn't think people would steal them if they couldn't spend / cash them...
When you're dead, you don't know you're dead. It only affects the people around you. Same thing when you're stupid.
In the future, 1 BTC will buy exactly one YIIIPPPPPEEEEE!
To put it simply, I don't understand how you can "mine" bitcoins and get paid real money for doing so. I just don't understand what gives these things value, beyond someone simply saying that they have value. If I say my bottle of Tabasco sauce that I bought at walmart for $5 is valued at $40,000, will people give me $40,000 for that bottle of Tabasco sauce? The same logic, or lack of logic, seems to apply here.
Also, why would anyone trust a bitcoin "bank"? Why not just save your bitcoins on multiple external hard drives, and maybe keep one hard drive in a safety deposit box at a real, physical bank? Wouldn't that make more sense?
Do they gather interest on bitcoins at bitcoin banks? Or do they just lose all their money when the bitcoin banks get hacked, as they all invariably seem to.
I wonder how many of these bitcoin exchanges said they were hacked as a means of covering up taking the bitcoins themselves. Saying you were hacked looks like a good cover for such thievery.
Cloudflare and Prolexic, men-in-the-middle, all up in your encrypted traffic. Did you think you could give U.S-based companies all your encryption keys and route your traffic through them, without anything happening? Seriously. If you deal with money, you make sure none of your traffic and data resides with U.S-based companies, period.
destroyed by greedy Republicans. Of course what else would anyone expect since they rule the money supply in the US. They are creating destructive inflation in order starve families. They hate the poor and want us to die.
You seem to think that Republicans control the money supply in the US.
This is wrong
The people who control our money supply are neither Republicans nor Democrats, nor do they care which party wins the elections. They are as much Europeans as they are Americans and have little to no loyalty to any country or party. It is also wrong to think that they are creating inflation (or poverty) to harm others. Inflation is a side effect of their expanding the money supply to seize power and assets. They would be happier to do it without inflation and without causing social unrest. It's just an unfortunate side effect. If you had been paying attention, you might have noticed that the Democrats (through Eric Holder) are the ones kowtowing to Wall Street and rescuing their banks and investments houses. Meanwhile small banks and their officers all over the country have been closed and their officers have been arrested.