Fresh Bitcoin Exchange Hacked

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  • Smack dat
    So Fucking Banned
    • Jul 2016
    • 4613

    #1

    Fresh Bitcoin Exchange Hacked

    Bitfinex this time, one of the largest.

    Early days but it looks like around 119,000 bitcoin stolen.
  • Relic
    So Fucking Banned
    • Aug 2002
    • 10300

    #2
    crashed the price nearly $200 today

    Comment

    • Smack dat
      So Fucking Banned
      • Jul 2016
      • 4613

      #3
      Originally posted by Relic
      crashed the price nearly $200 today
      Yeah I was just looking and the price was 700GBP but watched it crash back down to 450.

      Comment

      • CPA-Rush
        small trip to underworld
        • Mar 2012
        • 4927

        #4
        holy shit.

        automatic exchange - paxum , bitcoin,pm, payza

        . daizzzy signbucks caution will black-hat black-hat your traffic

        ignored forever :zuzana designs

        Comment

        • Coup
          🚨 PBBC International 🚨
          • Apr 2010
          • 9931

          #5
          ~* Currency of the Future *~

          Comment

          • Vendot
            Confirmed User
            • May 2002
            • 3376

            #6
            Is it easy to buy a bitcoin? Im a complete novice.

            Any good advice on the safest way to do it?
            "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

            Comment

            • DraX
              Confirmed User
              • Oct 2002
              • 7147

              #7
              Originally posted by Smack dat
              Bitfinex this time, one of the largest.

              Early days but it looks like around 119,000 bitcoin stolen.
              Wow 119,000 bitcoins, that's a good chunk of ones and zeros.

              With a bitcoin value of $600 they stole 71 million US DOLLARS.

              This is really a major problem for the bitcoin industry, these hacks are turning things over and makes the virtual currency less trusted.

              Originally posted by Vendot
              Is it easy to buy a bitcoin? Im a complete novice.

              Any good advice on the safest way to do it?
              Bitcoin Exchanges - buy & sell

              CEX.IO
              itBit
              Coinbase (Some gfyers didn't like this one)

              You should also have a bitcoin wallet and blockchain.info is one of the best
              Deposit Today With BTC - Play With Bitcoins

              Comment

              • rowan
                Too lazy to set a custom title
                • Mar 2002
                • 17393

                #8
                Originally posted by Vendot
                Is it easy to buy a bitcoin? Im a complete novice.

                Any good advice on the safest way to do it?
                LocalBitcoins.com: Fastest and easiest way to buy and sell bitcoins is a bitcoin market where you can buy from various sellers.

                Now is probably a good time to buy, assuming the price recovers...

                Comment

                • rowan
                  Too lazy to set a custom title
                  • Mar 2002
                  • 17393

                  #9
                  Originally posted by DraX
                  You should also have a bitcoin wallet and blockchain.info is one of the best
                  Using a centralized third party wallet service totally defeats the purpose of Bitcoin. You should run your own wallet, locally.

                  Wonder how many people trusted Bitfinex to take care of their funds?...

                  Comment

                  • Google Expert
                    Webmaster
                    • Jun 2004
                    • 14294

                    #10
                    Originally posted by rowan
                    Using a centralized third party wallet service totally defeats the purpose of Bitcoin. You should run your own wallet, locally.

                    Wonder how many people trusted Bitfinex to take care of their funds?...
                    i'm using BitcoinCore

                    It's up to 70GB in size, but at least im in control of everything.

                    Comment

                    • rowan
                      Too lazy to set a custom title
                      • Mar 2002
                      • 17393

                      #11
                      Originally posted by Muad'Dib
                      i'm using BitcoinCore

                      It's up to 70GB in size, but at least im in control of everything.
                      Oh yeah, I've been using Bitcoin core for five years, so that's something I keep forgetting: downloading the blockchain from scratch takes AGES. That's a major potential deal breaker for someone new who wants to get started.

                      There's been a few times that the core client has complained about a database error at startup, and wanted to re-download the entire blockchain. I have backups so I can reasonably effortlessly restore a database that is at most a couple of weeks old, so syncing only takes 30 mins, but again, that's not going to be something that the majority of users will be able (or want) to do.

                      Comment

                      • ilnjscb
                        Confirmed User
                        • Jun 2009
                        • 8972

                        #12
                        This is why bitcoin is a 1.0 currency. Time for 2.0. There must be some visibility so hacks aren't possible on this scale.

                        Comment

                        • Barry-xlovecam
                          It's 42
                          • Jun 2010
                          • 18083

                          #13
                          Windoze+email+not well regulated digital currency exchanges = recipe for disaster.

                          How was the exchange hacked? Most hacks like this start out with an email exploit or the notorious zip file that is attached to the email.

                          Don't store value in bitcoin or other digital currency use the digital currency as a transactional currency. If you want to play the Bitcoin market (as a very volatile index) play the index Bitcoin BTC Bitstamp (BITCOIN:BITSTAMPUSD) Bitcoin Chart & Quotes - INO.com

                          Comment

                          • rowan
                            Too lazy to set a custom title
                            • Mar 2002
                            • 17393

                            #14
                            Originally posted by ilnjscb
                            This is why bitcoin is a 1.0 currency. Time for 2.0. There must be some visibility so hacks aren't possible on this scale.
                            Bitcoin was designed to be decentralized, but exchanges and mining pools have re-centralized it. Rather than everyone being responsible for their own funds, much of the BTC in circulation is held by third parties. The exchanges must be constantly hammered by probes and attacks.

                            Comment

                            • Google Expert
                              Webmaster
                              • Jun 2004
                              • 14294

                              #15
                              Originally posted by rowan
                              Oh yeah, I've been using Bitcoin core for five years, so that's something I keep forgetting: downloading the blockchain from scratch takes AGES. That's a major potential deal breaker for someone new who wants to get started.
                              torrenting it is pretty fast. then you just keep it updated.

                              i keep is on an SSD for fast operations.

                              anyway, now is a good time to buy in.

                              Comment

                              • Google Expert
                                Webmaster
                                • Jun 2004
                                • 14294

                                #16
                                Originally posted by ilnjscb
                                This is why bitcoin is a 1.0 currency. Time for 2.0. There must be some visibility so hacks aren't possible on this scale.
                                How to never lose Bitcoin:
                                - Buy a $10 USB drive
                                - Store Bitcoin keys on it

                                How to never lose dollars:
                                - Pay trillions of dollars to bankers
                                - Pay more trillions of dollars to bankers when they lose the fist trillions
                                - Print more dollars
                                - Build a giant military, enforce fiat currency value

                                Comment

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