- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
A string of thefts hit Coinbase, Bitcoin's most reputable wallet service
Posted on 2/7/14 at 2:03 pm
Posted on 2/7/14 at 2:03 pm
quote:
In a few hours on December 15th, Jeff lost nearly $10,000.
It was 10.6 bitcoins held in the wallet service Coinbase, the most well-funded and widely implemented service on the market. Jeff, who asked that we not use his last name, got the news of the transaction as soon as it happened, and after going back and forth with a customer-service representative, he had his money refunded. Exactly one month later, it happened again.
It's part of a string of Bitcoin thefts that have hit the service in recent weeks. The Verge has confirmed two other Coinbase users with stories similar to Jeff's, one taken for $16,000 and another for $5,000. In the first case, the victim was using two-factor authentication and received a refund; in the second, two-factor hadn’t been enabled and the refund was denied, on grounds that the user hadn’t properly set up the account’s security measures. Several other as-yet-unverified reports have also been posted on the Coinbase subreddit.
LINK
1
Posted on 2/7/14 at 2:05 pm to saintforlife1
Maybe they'll start to see why they should securely store their bitcoin.
Posted on 2/7/14 at 2:12 pm to joshnorris14
I will side with the Josh's and wiki's of the board in that the overwhelming majority of these thefts seem to be matters of poor security/not understanding how to secure their bitcoin.
Now, the bad news for their side is that this (once again) brings up the question of why switch from your normal currency to bitcoin in the first place. More protections and easier to secure.
Now, the bad news for their side is that this (once again) brings up the question of why switch from your normal currency to bitcoin in the first place. More protections and easier to secure.
Posted on 2/7/14 at 2:30 pm to Walking the Earth
quote:
why switch from your normal currency to bitcoin in the first place.
As form of investment and not to use as actual currency? I know next to nothing about all this bitcoin noise, but when I do see it come up, I immediately think "investment", not "form of currency".
But that's just me.
Posted on 2/7/14 at 3:29 pm to Walking the Earth
quote:
More protections and easier to secure.
It really isn't that hard to secure these bitcoins. It is beyond me why people continue to leave large sums of money in these exchanges unless they are actively trading (And if you're using Coinbase, you certainly aren't).
Nobody leaves their wallet on a park bench and expects it to be there when they return.
Posted on 2/7/14 at 3:35 pm to dcrews
quote:
"investment", not "form of currency".
and how many investments get stolen?
i think it is a scam and a half.
Posted on 2/7/14 at 4:06 pm to Mr.Perfect
quote:
i think it is a scam and a half.
You're just stupid. It's what is going to single handedly destroy the US government and revolutionize the world. You big ole bag of dicks.
Posted on 2/7/14 at 4:09 pm to Mr.Perfect
The great thing about this scam is you don't even have to steal others coins. You can simply lose the coin in cyber space and it will never be recovered. This act reduces supply and drives up the worth of your coins. I really wish there was a way to monitor the number of coins lost each day.
Posted on 2/7/14 at 4:14 pm to joshnorris14
quote:
It is beyond me why people continue to leave large sums of money in these exchanges unless they are actively trading
I don't worry about the money I have in my vanguard IRA and I don't actively trade.
It's definitely a flaw in the bitcoin ecosystem.
Posted on 2/7/14 at 4:18 pm to ZereauxSum
quote:
It's definitely a flaw in the bitcoin ecosystem.
I agree that it is a flaw, which is why people shouldn't leave large sums of money on these exchanges if they aren't actively exchanging.
Posted on 2/7/14 at 4:33 pm to joshnorris14
quote:
I agree that it is a flaw, which is why people shouldn't leave large sums of money on these exchanges if they aren't actively exchanging.
The problem with this is that this makes it less convent than fiat currencies.
If it's less convenient than cash, why would the average person use it? You have to keep in mind that the average person doesn't share you and Wiki's philosophical views.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News