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Full MemberActivity: 196Merit: 100 Re: BREAKING: Atlanta based Bitcoin giant BitPay hacked for nearly $2,000,000! September 19, 2015, 02:24:02 PM #141 Quote from: MicroGuy on September 19, 2015, 02:05:09 PM Quote from: Kprawn on September 19, 2015, 07:01:29 AM



It was just too easy for these guys to "hack" $ 2 000 000 .... I cannot imagine that there are no checks and balances in place to confirm/verify transfers like this.



I will not trust BitPay if this is the way they handle money transfers. The first email should already have raised some red flags.

Something smells fishy... I know some people are saying the CEO and founder of this company will never do this to his own company, but I have to disagree.It was just too easy for these guys to "hack" $ 2 000 000.... I cannot imagine that there are no checks and balances in place to confirm/verify transfers like this.I will not trustif this is the way they handle money transfers. The first email should already have raised some red flags.

I might have missed something but it does seems that if Bitpay was sending millions in BTC, they would have only done so to a "known bitcoin address" already existing on file for customer transfers. It's hard to imagine any competent/sane individual sending that volume to a fresh unknown address(es) based on an email request alone.

I might have missed something but it does seems that if Bitpay was sending millions in BTC, they would have only done so to a "known bitcoin address" already existing on file for customer transfers. It's hard to imagine any competent/sane individual sending that volume to a fresh unknown address(es) based on an email request alone.

I thought that you were supposed to make a new address for each transaction



https://en.bitcoin.it/wiki/Address_reuse I thought that you were supposed to make a new address for each transaction

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In memoriamVIPLegendaryActivity: 1428Merit: 1120 Re: BREAKING: Atlanta based Bitcoin giant BitPay hacked for nearly $2,000,000! September 19, 2015, 04:34:14 PM #143 Quote from: Kprawn on September 19, 2015, 07:01:29 AM



It was just too easy for these guys to "hack" $ 2 000 000 .... I cannot imagine that there are no checks and balances in place to confirm/verify transfers like this.



I will not trust BitPay if this is the way they handle money transfers. The first email should already have raised some red flags.

Something smells fishy... I know some people are saying the CEO and founder of this company will never do this to his own company, but I have to disagree.It was just too easy for these guys to "hack" $ 2 000 000.... I cannot imagine that there are no checks and balances in place to confirm/verify transfers like this.I will not trustif this is the way they handle money transfers.

You think!



First email, then transfer: end of the workday on a Thursday.

Second email, then transfer: ~1 hour later.

Third email, then transfer, three times larger than the either of the first two: It's Friday morning. Let's play this game again after a good night's sleep. I'm gettin' the hang of it.

Fourth email from SecondMarket: What are you guys doing? I didn't send no stinkin' emails!

Fifth email: No prob. Come Monday, we's filin' a claim with our insurance company. All'll be square. TGIF! Let's have pizza tonight to celebrate. You think!First email, then transfer: end of the workday on a Thursday.Second email, then transfer: ~1 hour later.Third email, then transfer, three times larger than the either of the first two: It's Friday morning. Let's play this game again after a good night's sleep. I'm gettin' the hang of it.Fourth email from SecondMarket: What are you guys doing? I didn't send no stinkin' emails!Fifth email: No prob. Come Monday, we's filin' a claim with our insurance company. All'll be square. TGIF! Let's have pizza tonight to celebrate. HAHAHA

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In memoriamVIPLegendaryActivity: 1428Merit: 1120 Re: BREAKING: Atlanta based Bitcoin giant BitPay hacked for nearly $2,000,000! September 19, 2015, 05:00:12 PM

Last edit: September 19, 2015, 05:11:06 PM by Gleb Gamow #144 http://www.cooleaf.com/blog/the-bit-pay-warriors



Quote The Warriors



At BitPay they also believe that their employees should have the option to choose their own schedule and work from home when they need to.



We hire mature and talented people that we know we can trust to get their work done. Lynette continues;



When hiring at Bitpay, CFO Bryan Krohn says they are looking for warriors, people with grit who will do what it takes to succeed and that arent afraid to work hard and push themselves.Most of our staff consists of software engineers and theres really no faking whether theyre getting their work done or not.



The already chosen warriors enjoy quarterly outings such as white water rafting and bowling. On Break-away Fridays the group socializes around a company keg and discusses work completed for the week.



Through their efforts to create a fresh, fun startup culture, BitPay was recently ranked at number 45 on AJCs Best Workplaces



BitPay will continue to hire self-starters with grit and passion. These warriors will likely continue to break new ground for the company that TechCrunch is calling the catalyst for the commoditization of payment processing.



"Warriors, it's Break-away Friday. I sent you another email. Warriors..." "Warriors, it's Break-away Friday. I sent you another email. Warriors..."

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In memoriamVIPLegendaryActivity: 1428Merit: 1120 Re: BREAKING: Atlanta based Bitcoin giant BitPay hacked for nearly $2,000,000! September 20, 2015, 05:35:55 AM #145 http://coinjournal.net/author/iandemartino/



Quote By Ian Demartino



https://techippie.wordpress.com/



Co founder of Coinjournal.net Co founder of Coinjournal.net

http://coinjournal.net/daily-links-91715-changetip-adds-usd-bitpay-gets-egg-on-its-face/



ChangeTip Adds USD, BitPay Gets Egg On Its Face

By Ian Demartino



Quote People only hand over their money to a bank when they trust it, and BitPay can say whatever it wants about the theft only affecting BitPays profits and how they didnt lose any customer funds, but if everyone sees a guy walk out of a bank with two bags full of cash because he asked for it, no one is going to put their money in that bank. It doesnt matter that he didnt get to the inner vault, people are going to go down the street, to the bank that locks up all of their money.

Likewise, people are goin' seek other periodicals to read if their current source for trade news isn't up to snuff, e.g.: BitPay only lost profits due to the hack and not customer's moneys (perhaps a given) or VC capital funds (?). Again, if BitPay charged a 1% fee for every transaction (which they don't), they would have had to process near-$200,000,000 worth of bitcoins (which they haven't) AND had zero operating expenses (which they don't) to lose all that contrived calculated profit to a successful email phishing scheme taking place during the same timeframe that Bitstamp was going through their own email phishing ordeal while their guy was supposed sick with the flu in Slovenia.



Remember when we used to chastise mainstream media for getting the facts wrong on their rags? Hell, our very own trade periodicals can't even hash out truisms when it's either hand-fed to them or failing to do the simplest research prior to publication. You guys wouldn't believe what I've passed on to our trade rags pertaining to BFL (not posted here) that I've yet to see published, yet nary an article has been penned on my findings. Fuckin' amazin'! To be fair, I got one thank you with it'll be looked into further. Likewise, people are goin' seek other periodicals to read if their current source for trade news isn't up to snuff, e.g.: BitPay only lost profits due to the hack and not customer's moneys (perhaps a given) or VC capital funds (?). Again, if BitPay charged a 1% fee for every transaction (which they don't), they would have had to process near-$200,000,000 worth of bitcoins (which they haven't) AND had zero operating expenses (which they don't) to lose all that contrived calculated profit to a successful email phishing scheme taking place during the same timeframe that Bitstamp was going through their own email phishing ordeal while their guy was supposed sick with the flu in Slovenia.Remember when we used to chastise mainstream media for getting the facts wrong on their rags? Hell, our very own trade periodicals can't even hash out truisms when it's either hand-fed to them or failing to do the simplest research prior to publication. You guys wouldn't believe what I've passed on to our trade rags pertaining to BFL (not posted here) that I've yet to see published, yet nary an article has been penned on my findings. Fuckin' amazin'! To be fair, I got one thank you with it'll be looked into further. HAHAHA

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In memoriamVIPLegendaryActivity: 1428Merit: 1120 Re: BREAKING: Atlanta based Bitcoin giant BitPay hacked for nearly $2,000,000! September 21, 2015, 03:12:40 AM #150 May 14, 2013: BitPay onboards Bryan Krohn:



https://www.linkedin.com/in/krohnbryan



Quote A successful finance and operations professional with demonstrated accomplishments in international finance, business integration, cost optimization and organizational restructure.



Described by executives and colleagues as an innovative and strategic leader and business partner. Well known for solving complex problems, achieving unparalleled results through a keen analytical ability, and exemplary execution of strategy and tactics while regularly building high performing teams.

OCTOBER 4, 2013: Bitcoin Magazine Hires Vanessa Krohn to Head Operations:



In the spirit of optimizing cost, Bryan Krohn persuades BitPay to hire his wife, Vanessa Krohn, to work at their publication arm for perhaps the token amount of $1/yr salary. Later, Vanessa leaves Bitcoin Magazine to join yBitcoin which was in negotiations to purchase Bitcoin Magazine around the timeframe of the phishing expedition while, perhaps, David Bailey, yBitcoin's head dude, was attending a conference in South Korea. BitPay onboards Bryan Krohn: http://www.businesswire.com/news/home/20130514006754/en/BitPay-Hires-Bitcoin-Core-Developer-Jeff-Garzik#.Vf9yct9Viko Bitcoin Magazine Hires Vanessa Krohn to Head Operations: https://bitcoinmagazine.com/7384/bitcoin-magazine-hires-vanessa-krohn-to-head-operations/ In the spirit of optimizing cost, Bryan Krohn persuades BitPay to hire his wife, Vanessa Krohn, to work at their publication arm for perhaps the token amount of $1/yr salary. Later, Vanessa leaves Bitcoin Magazine to join yBitcoin which was in negotiations to purchase Bitcoin Magazine around the timeframe of the phishing expedition while, perhaps, David Bailey, yBitcoin's head dude, was attending a conference in South Korea.