Founder of Bitcoin Builder, Josh Jones, and one of mtgox's largest creditors just lost $37 million in a sim hack.
In a now deleted post the user zhoujianfu pleads for help from miners/community after 59471 BCH (~$22 million) and 1547 BTC (~$15 million) vanished from his wallets. To confirm the legitimacy of the address in question (1Edu4yBtfAKwGGsQSa45euTSAG6A2Zbone) from which the total sum of $37 million in crypto currency was stolen, he signed the address: Text: zhoujianfu owns me. Signature: HKo7vjjvoCbRZPx39rtf1dSjEmA8qigIR4+F85BGCpbpHzmdq1vm6D8bQ9KA6RzFrKdihT/QoOfENDzNPQzL85k= I have verified the signature as valid. The post which confirms that zhoujianfu is indeed Josh Jones can be found here. According to the deleted post, this was a "sim hack". Which wallet service was used or how Josh was able to retrieve the private keys to sign that message remains unknown, however there has been speculation that he has used blockchain.info or blockchain.com. This shouldn't have any impact on his claim with mtgox or his creditors in bitcoin builder, but it seems relevant here nonetheless.
Vitalik Buterin: Bitcoin’s *failure* to raise its blocksize by a significant amount in 2016–17 was a travesty and a great violation of many people’s expectations of the protocol, and one that led to more total losses due to excess txfees than the amount lost in the MtGox hack)
I'd just like to point out that the MtGox hack is entirely a failing of a single exchange, not Bitcoin itself, details inside.
The Mt. Gox hack has caused quite a bit of discussion about bitcoins weaknesses, especially in regards to security. But I want to remind everyone that the failing that occurred here was of a single site/exchange, and the policies/implementation thereof. If Bitcoin is ever to become truly robust, multiple exchanges with different competing security practices must exist. A good idea for instance might be exchanges that keep incoming funds in offline wallets and require some delay time/manual intervention for withdraws. Now all such policies are debatable, but the great value in Bitcoin is in decentralization allowing for competing exchanges with different security policies. As much as it sucks to see such a massive heist, Bitcoin is doing it's job perfectly well in this instance, it's performing just like a precious metal that's infinitely easier to transport. With Bitcoin transactions being non-reversable Bitcoin exchanges should probably be even slower at releasing funds than existing banks/exchanges. Multiple exchanges should spring up to cater to different the different needs and acceptable risk level of traders, but none should fail so miserably at website security. I hope the incident helps to bring the light the issue of exchange security, and the market for competing exchanges with a stronger security focus.
[uncensored-r/Bitcoin] Coincheck hack predicted by MtGox Owner Mark Karpeles
The following post by Seneca7 is being replicated because the post has been silently removed and some comments within it have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7twtxc The original post's content was as follows:
MagicalTux 1 point 9 days ago There are a few things out there that feel like MtGox back in late January 2014. I sure hope I'm wrong.
3 days Ago: Coincheck hacked for largest theft in bitcoin history.
Mt. Gox took a devastating hit in the largest bitcoin hack to date. Hackers accessed and stole 740,000 bitcoin from Mt. Gox customers and 100,000 from the company itself, roughly the equivalent of $460 million at the time. The event quickly spiraled out of control and the company was bankrupt by the end of February 2014. Der Mt. Gox Hack wird immer als einer der schlimmsten in der Geschichte von Bitcoin in Erinnerung bleiben. Die Opfer haben jahrelang auf eine Entschädigung gewartet und die Umsetzung des Rehabilitationsplans wurde wiederholt verschoben. Ein Dokument des Bezirksgerichts Tokio vom 30. Juni deutet allerdings darauf hin, dass eine Entscheidung über die Entschädigung bald abgeschlossen sein ... The MtGox hack. Mt. Gox was a BTC exchange based in Japan that started operating in summer 2010. In about four years, it was dealing with around 70 percent of all Bitcoin transfers globally and the biggest Bitcoin exchange on the planet. In February 2014, the platform suspended its trading operations and shut down its website. The company made an announcement that approx. 850,000 BTC that was ... About Mt. Gox. In February 2014 Mt. Gox suspended trading and filed for bankruptcy after approximately 850,000 Bitcoins were stolen, at the time, valued at more than $450m. This What Bitcoin Did series of interviews is with a number of the key people related to Mt. Gox. 79.956 BTC auf der Wallet-Adresse vom Mt. Gox Hack. Ein Blick auf den Bitcoin Block Explorer verdeutlicht recht schnell, dass sich auf der Wallet noch immer 79.956 BTC befinden. Dementsprechend liegen mehrere Millionen US-Dollar auf dem Konto der Angreifer. Auch Riccardo Spagni, Monero-Entwickler, scheint etwas überrascht von der aktuellen Entwicklung. Laut Spagni würde ein öffentliches ...
Cryptocurrency News - Mt. Gox Bitcoin Hack! Craig Wright has been in legal battles for a very long time now. Craig Wright also claims to be Satoshi and the creator of Bitcoin. In a recent ... Mt. Gox, once the world's largest bitcoin exchange, is now offline after losing about $350 million to a two year-long hack that went undetected by the compan... This is completely off the hip but since the bitcoin is having a bit of a weekend did a show on this. Would love to know what the rest of you thin Voice in t... The Curse of Mt Gox Still Haunts Us - Bitcoin Crash - Duration: 9:24. Bitraged 5,615 views. 9:24 . 80 Trillion Dollar Bitcoin Exit Plan - Duration: 22:12. Mineable 340,482 views. 22:12. Mix Play ... This is a brief history of the Mt. Gox exchange. Its history, hacks and impact on Bitcoin and the crypto world. Contact me about crypto business ventures at [email protected] Items That I ...