EXCLUSIVE: Key Negotiator In Bter NXT Hack Speaks
BTer recently suffered a hack of over 51 million NXT, which was its single largest market. They were, with the help of a negotiator, able to recover most of the funds. This morning, we were handed a sort of self-interview / narrative written by the key negotiator himself. While we are not in the practice of posting information handed to us verbatim, this piece included exclusive and important information. We felt that it was in the public's best interest that we post this information, since BTer's account of the event (mostly told through its Twitter page) is the only official voice, other....
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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....
Digital currency exchange BTER announced that it has lost 7,170 bitcoins, or roughly $1.75 million at press time, in an apparent hack on its cold wallet system. In a statement posted to the China-based exchange's website, the company said that it had shut down its platform in the wake of the attack and that withdrawals for user balances "will be arranged later". A separate post on Chinese social media platform Weibo from BTER claimed that it was working with law enforcement officials on the matter. Initially, BTER had posted on its website that a "security check" was underway and that the....
The newly rebuilt Bter.com, one of the world's largest altcoin trading platforms, has announced that it has joined forces with JUA.com and is stepping up its security system. It has also set forth a plan for repaying all users who lost funds due to a recent theft. On the security side, JUA.com will provide 100 percent cold wallet escrow storage of users' funds, and will gradually take on hot wallet security for deposits and withdrawals as well. Bter has already worked with JUA.com since the hack to review all security-related code, and has completely rebuilt the trading platform's back....
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....
Popular exchange Bter recently suffered a hack that resulted in more than 51 million NXT being stolen from the exchange, at the time worth more than USD $1.7 Million. This brought up the question: much manipulation of the blockchain is acceptable? While Bter managed to negotiate most of the NXT back into its possession, before that happened the NXT community was presented with a choice: Change the blockchain to reverse the hack and save Bter and the 51 million NXT or allow the transaction to remain and preserve the integrity of the blockchain. They overwhelmingly decided against changing....