Bter Teams with JUA.com to Upgrade Security, Repay Victims of Recent Hack
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'....
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Defunct cryptocurrency exchange BTER claims it doesn't have enough funds to reimburse all its users, following an alleged seven-figure hack. The Chinese exchange closed earlier this week, issuing a statement via its website that 7,170 BTC had disappeared from its offline wallet - around $1.75m at press time. Speaking to CoinDesk, a BTER spokesperson claimed CNY and USD withdrawals would resume within a week. However, the company said it is still exploring different options to make all its customers whole, including selling the platform. "Hopefully a qualified party (especially a trusted....
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....
Cryptocurrency exchange BTER was hacked yesterday and a significant quantity of funds stolen, including 51 million NXT (then worth $1.7m). NXT was the number one currency exchanged on this platform. This is by far the largest hack that has ever happened in NXT’s history. Although it was entirely down to BTER’s lack of security, NXT as an economic system has started bleeding. Indeed, the hack concerns over 5% of the total money supply and, notwithstanding the moral issue of a hacker potentially getting away with such a crime, this leaves the NXT community with four problems to face: That is....
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....
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....