Have They Tried "12345" Or "Password"?...

vienna · 02-04-19, 06:50 PM

Yet another reason not to get dependent on keeping important matters in the 'cloud':

$190 million gone forever? Crypto boss dies with passwords needed to unlock customer accounts --

https://www.foxnews.com/tech/cryptoc...0m-reports-say

Crypto Exchange Says It Can't Repay $190 Million to Clients After Founder Dies With Only Password --

https://gizmodo.com/crypto-exchange-...lie-1832309454

<O>

Skybird · 02-04-19, 07:07 PM

if true.

Buddahaid · 02-04-19, 07:38 PM

This guy figured out how to really take it with him.

Sean C · 02-05-19, 12:09 AM

He should have used something like this to allow several people to access the account in case of an emergency. All parties would have to agree to access the account, so the more people involved - the more secure the secret.

Or maybe he isn't really dead and he and his wife plan to make off with the money.

Jimbuna · 02-05-19, 07:39 AM

Quote:

Originally Posted by Buddahaid

This guy figured out how to really take it with him.

True that

Platapus · 02-05-19, 05:15 PM

I wonder if they really don't know the password or are they just claiming they don't know the password.

How can anyone tell. I would be willing to wait a year or two before quietly withdrawing 140 million.

Skybird · 02-05-19, 05:33 PM

There is no "quietness" in a blockchain.

Thats the main point of it.

In principle all cryptocurrencies used currently are vulnerable for this worst case scenario. I bet that at least 9 out of 10 users of cryptocurrency have no idea of that this is so. The companies bringing out the currency in question are those who also offer the service but also store and manage all the available value of that said currecny, its reach ends within the realm of these companies. That is becasue it is not just one currency many actors contirbute tok, but every actor brings out his own currency. And that is the problem. Its as if there are as many different dollars as there are banks: every bank has its own individual dollar. Kill the bank, and its dollar scheme dies with it.

Cryptocurrencies only will gain my attention when there is just one or two such currencies that get accepted by many different actors, so that if one actor falls out the others form a web to compensate for the damage, like FIAT money systems today try to do. Right now going into cryptos in bigger style is just gambling. Noth accidents and criminal intention can catch you.

Different to many others I do not take it for granted that we will see this happenign any time soon. States, central banks and FIAT banks have too high interest in fighting cryptocurrencies and keeping them down. And governments all the many dirty little tools and cheap tricks to make sure it will go like this. It will get manipulated like they manipulate the gold price as well.

02-04-19, 06:50 PM	#1
vienna Navy Seal Join Date: Jun 2005 Location: Anywhere but the here & now... Posts: 7,712 Downloads: 85 Uploads: 0	Have They Tried "12345" Or "Password"?... Yet another reason not to get dependent on keeping important matters in the 'cloud': $190 million gone forever? Crypto boss dies with passwords needed to unlock customer accounts -- https://www.foxnews.com/tech/cryptoc...0m-reports-say Crypto Exchange Says It Can't Repay $190 Million to Clients After Founder Dies With Only Password -- https://gizmodo.com/crypto-exchange-...lie-1832309454 <O> __________________ __________________________________________________ __

02-04-19, 07:07 PM	#2
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,634 Downloads: 10 Uploads: 0	if true. __________________ If you feel nuts, consult an expert.

02-04-19, 07:38 PM	#3
Buddahaid Shark above Space Chicken Join Date: Jun 2008 Posts: 9,321 Downloads: 162 Uploads: 0	This guy figured out how to really take it with him. __________________ "However vast the darkness, we must provide our own light." Stanley Kubrick "Tomorrow belongs to those who can hear it coming." David Bowie

02-05-19, 12:09 AM	#4
Sean C Grey Wolf Join Date: Jun 2017 Location: Norfolk, VA Posts: 984 Downloads: 16 Uploads: 2	He should have used something like this to allow several people to access the account in case of an emergency. All parties would have to agree to access the account, so the more people involved - the more secure the secret. Or maybe he isn't really dead and he and his wife plan to make off with the money. __________________ If you have a question about celestial navigation ... ask me! Celestial Navigation Spreadsheet

02-05-19, 05:15 PM	#6
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,369 Downloads: 63 Uploads: 0	I wonder if they really don't know the password or are they just claiming they don't know the password. How can anyone tell. I would be willing to wait a year or two before quietly withdrawing 140 million. __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.

02-05-19, 05:33 PM	#7
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,634 Downloads: 10 Uploads: 0	There is no "quietness" in a blockchain. Thats the main point of it. In principle all cryptocurrencies used currently are vulnerable for this worst case scenario. I bet that at least 9 out of 10 users of cryptocurrency have no idea of that this is so. The companies bringing out the currency in question are those who also offer the service but also store and manage all the available value of that said currecny, its reach ends within the realm of these companies. That is becasue it is not just one currency many actors contirbute tok, but every actor brings out his own currency. And that is the problem. Its as if there are as many different dollars as there are banks: every bank has its own individual dollar. Kill the bank, and its dollar scheme dies with it. Cryptocurrencies only will gain my attention when there is just one or two such currencies that get accepted by many different actors, so that if one actor falls out the others form a web to compensate for the damage, like FIAT money systems today try to do. Right now going into cryptos in bigger style is just gambling. Noth accidents and criminal intention can catch you. Different to many others I do not take it for granted that we will see this happenign any time soon. States, central banks and FIAT banks have too high interest in fighting cryptocurrencies and keeping them down. And governments all the many dirty little tools and cheap tricks to make sure it will go like this. It will get manipulated like they manipulate the gold price as well. __________________ If you feel nuts, consult an expert.