Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

500k Bitcoins traded in 1h, Mt.Gox market hacked + crash

bitcoincharts.com

Post reply on HN
Print view View original

121–130 of 262 posts

Re: 500k Bitcoins traded in 1h, Mt.Gox market hacked + crash

#121

Post by hollerith »

sunchild wrote: post #98
buro9 wrote: post #39

From the mt.gox site: Huge Bitcoin sell off due to a compromised account - rollback 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). Service should be back by June 20th 10:00am (JST, 01:00am GMT) with all the trades reversed and accounts available. One account with a lot of coins was compromised and w…

And who gets to decide which trades are rolled back? By what criteria?

It is pretty clear that Mt Gox rolled back all trades from now to the first big unauthorized trade.

Re: 500k Bitcoins traded in 1h, Mt.Gox market hacked + crash

#122

Post by Tichy »

trotsky wrote: post #117

This was apparently on HN 14 hours ago: Mtgox hacked database listed for sale (pastebin.com) http://news.ycombinator.com/item?id=2670302 pointed to: http://pastebin.com/ui0nusuZ which says: I have hacked into mtgox database. Got a huge number of logins password combos. Mtgox has fixed the problem now. Too late, cause I've already got the data. Will sell the database for the right price. Send your offers to： gfc06@hot…

Was he accepting BitCoins?

Re: 500k Bitcoins traded in 1h, Mt.Gox market hacked + crash

#123

Post by ryepdx »

danielsoneg wrote: post #99
wmf wrote: post #93

Earlier quoted context omitted.

I would argue that it's not the same thing, since people use Mt.Gox voluntarily. We can expect no-rollback exchanges to appear any day now.

Do they? It's by far the largest BTC exchange - by a factor of ~50 or so. If you want to exchange more than a couple hundred BTC, they're the only game in town right now.

Yes, but they're the only big game in town not because they held a gun to anyone's head or threatened to throw their customers in jail if they dared to start using another exchange, but because they provided the best service. They did not engage in coercion. This is the heart of the free market and of anarchy.

Re: 500k Bitcoins traded in 1h, Mt.Gox market hacked + crash

#125

Post by andypants »

romland wrote: post #44
andypants wrote: post #31

Earlier quoted context omitted.

I think the bitcoins belonged to a guy who had his wallet of 500k stolen some time around last week.

You're probably thinking of the guy who claimed he lost 25k bit coins (which at that moment was "worth" 500k USD). This was a trade of 500,000 bit coins.

Ahh yes, you're correct, I got confused.

Re: 500k Bitcoins traded in 1h, Mt.Gox market hacked + crash

#126

Post by olex »

Tichy wrote: post #110
sudonim wrote: post #84

Earlier quoted context omitted.

So it was... I confirmed my username is in there but at least passwords are hashed. Luckily, I never added an email address and used a different Username and pw than I do everywhere else. Gotta take precautions with bitcoin!

Doesn't look as if passwords were salted, though :-( (Edit: just read in another comment that there seems to have been a global salt)

They were hashed using the standard php crypt() method, it generates a salt for every password encrypted. I'm in that database and was able to generate the exact hash. Luckily I use one-time passwords with such things...

Re: 500k Bitcoins traded in 1h, Mt.Gox market hacked + crash

#127

Post by aquarin »

blackbeltjones wrote: post #119
aquarin wrote: post #91

Earlier quoted context omitted.

What is the point of down votes without explanation?

Your post ran counter to internet-libertarian dogma.

Probably. I regret each time i comment here, but I attribute this to the cultural differences between California based NH-users and the rest of the world.

Re: 500k Bitcoins traded in 1h, Mt.Gox market hacked + crash

#129

Post by crocowhile »

gst wrote: post #58
skrebbel wrote: post #9

i must admit i'm somewhat impressed how fast the hackers and cheaters managed to take over bitcoin trading. i think it's kind of cute. people hoped for an economy no government could control, and got exactly that: anarchy and a burning world.

Where is anarchy? What's burning? Someone sold a huge amount of Bitcoins. The market acted accordingly. Expect a bounce back to the old exchange rate as soon as Mt. Gox is available again. Of course it might be possible that the computer of the person who sold the Bitcoin was cracked. But that's not the fault of Bitcoin - if someone is not capable of taking care of the security of his local computer, it's better not…

Mt.Gox itself was hacked not just a guy. That's a bit like Wall Street being hacked, with due proportions. Also, Mt.Gox reaction to the episode is apparently pissing off a lot of users, as per comments in linked page.

I don't think this is the end of bitcoins but surely enough is quite a ouch moment.

Lesson I've learned today: given that bitcoin wants to be a better currency, they have the chance to provide a better service. A good bitcoin marketplace should enforce two way authentications, maybe with yubikey or even just GPG keys.

Post reply on HN