Fifty Million Stolen NXT Ransomed by Hacker to BTER Exchange
NXT developers announced to CCN that there would be no rollback. To view the announcement, visit our article here. This morning, around 50 million NXT was stolen from the popular cryptocurrency exchange BTER. The number is outstanding, as the amount stolen is near five percent of all NXT in existence. The proof-of-stake coin's community is now faced with a difficult decision that Vericoin developers faced a few months ago when hackers stole Vericoin from Mintpal. Either NXT allows the thief to get away with the funds, or they rollback the blockchain to just before the theft transaction....
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According to reports from the NXT community and BTER, a rollback is no longer being actively considered. BTER announced on Twitter that it would seek to retrieve the stolen funds through other means. The company said: We have decided not to rollback but get the stolen funds back from the hacker since we have got lots of information of him. - Bter.com Exchange (@btercom) August 15, 2014. Update (15th August 22:15 BST): Updated with feedback from NXTOrganization. BTER is reporting that 50m NXT, or roughly $1.65m at press time, has been stolen from its exchange following an attack on one of....
Following the hack of the BTer exchange a deal was negotiated with the hacker for him to return all the stolen NXT to BTer against some Bitcoins. Sure enough, the hacker didn’t keep his work and kept 8.3 million NXT by himself. I was the lead negotiator of this deal, but I am now ready to lead the hunt for this hacker. I had lengthy talk with him, and got a chance to understand him fairly well. I received help from several people to try to identify him, and I am pleased to say we already have some promising ideas to pursue. Naturally, this kind of information will remain confidential until....
Update 8/17: All but roughly 8.3 Million NXT has been returned to Bter, presumably thanks to undiscolsed negotiations. Update 5:30pm EST: The discussion about the hard fork continues. The new version released would only freeze the hacker's account. Which means those funds would still be lost but hacker would not be able to benefit other than the 100 BTC he got by blackmailing Bter. The rest of the blockchain will be rescanned and all transactions besides those coming from the Bter account would still be valid. Another fork could "unfreeze" the account, but that would of course be subject....
NXT has announced to CCN that there will be no rollback. To read the announcement, visit our article here. Earlier this year, the cryptocurrency exchange MintPal, now owned by Moopay LTD., became the victim of an attack. The hacker got away with eight million VeriCoin, a staggering 30% of all VeriCoin in existence. The theft caused the VeriCoin developers to face a decision to roll back the blockchain and effectively erase the transactions from occurring, returning coins to Mintpal's customers. Today, cryptocurrency exchange BTER was hacked, and the thief got away with 50 million NXT, a....
Bter announces plans to refund 20,000 affected customers. It has been a difficult month for Bitcoin exchange Bter. On February 14th, 2015, 7,170 BTC was stolen from the exchange. The company launched efforts to trace the stolen bitcoins which led them to the mixing service known as Bitcoin Fog. In an exclusive interview with CCN, Bter officials explained that about 20,000 users were affected by the heist. The efforts at recovering the money from Bitcoin Fog have so far been unsuccessful. Bter has therefore opted to refund all of their clients who lost their bitcoins, a process that the....