4 ms·

From the announcement: "during the DDOS two separate trades spiraled out of control either due to a bug or an exploit and transferred a very large number of sm

From the announcement: "during the DDOS two separate trades spiraled out of control either due to a bug or an exploit and transferred a very large number of small Bitcoin transactions to Ambiorx's account." Note "either due to a bug or an exploit". Then: "Ambiorx used the fraudulently obtained Bitcoins..." If the cause was a bug in your own code, that's not fraudulent is it? Isn't that the exchange's fault? That line seems to assume exploitation, when they already said it was possible it was a bug.

dogma1138 12y ago
If tomorrow you wake up and find 10000000$ in your account and then go on a spending rampage what do you think will happen? The bank will notice it, revoke the funds and then at best you will end up with a pile of debt and at worse will be charged with some financial fraud or another. It's time that exchanges will develop the ability to reverse bitcoin transactions by extending the chain or by building their own transaction protocol on top of the current BTC chain. It's also about time that these establishments will get some private insurance if they want to play around as they were some private banks for oligarchs which are not tied directly to the central bank or insured by it. With how BTC transactions work in general, and how exchanges seem to operate these days im amazed that people still use them.
- jamestnz 12y ago
  >If tomorrow you wake up and find 10000000$ in your account and then go on a spending rampage what do you think will happen? Something pretty similar to this happened here in NZ in recent years. A couple who ran a BP franchise had applied to a bank for a $100k line of credit. They were accidentally given $10m instead. They decided to rapidly transfer the money offshore, where they then fled. The woman eventually returned voluntarily, the man was extradited. He received jail, she a home detention sentence and reparation. http://www.stuff.co.nz/national/crime/2428243/Couple-missing-after-10m-bank-bungle http://www.stuff.co.nz/national/crime/2428243/Couple-missing... Sentencing: http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10829144 http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objecti...

dogma1138 12y ago

If tomorrow you wake up and find 10000000$ in your account and then go on a spending rampage what do you think will happen? The bank will notice it, revoke the funds and then at best you will end up with a pile of debt and at worse will be charged with some financial fraud or another. It's time that exchanges will develop the ability to reverse bitcoin transactions by extending the chain or by building their own transaction protocol on top of the current BTC chain. It's also about time that these establishments will get some private insurance if they want to play around as they were some private banks for oligarchs which are not tied directly to the central bank or insured by it. With how BTC transactions work in general, and how exchanges seem to operate these days im amazed that people still use them.

jamestnz 12y ago
>If tomorrow you wake up and find 10000000$ in your account and then go on a spending rampage what do you think will happen? Something pretty similar to this happened here in NZ in recent years. A couple who ran a BP franchise had applied to a bank for a $100k line of credit. They were accidentally given $10m instead. They decided to rapidly transfer the money offshore, where they then fled. The woman eventually returned voluntarily, the man was extradited. He received jail, she a home detention sentence and reparation. http://www.stuff.co.nz/national/crime/2428243/Couple-missing-after-10m-bank-bungle http://www.stuff.co.nz/national/crime/2428243/Couple-missing... Sentencing: http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10829144 http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objecti...