Topic 'BitCoin had no backups of it's database' in forum 'Security' - dslreports.com

Re: BitCoin had no backups of it's database

Mon, 28 May 2012 03:19:03 EDT

nonymous posted : »www.wired.com/magazine/2011/11/m···in/all/1

Interesting.

Re: BitCoin had no backups of it's database

Mon, 28 May 2012 02:30:22 EDT

Mele20 posted :

said by nonymous:

said by Blackbird:

One guy even put a major part of his retirement savings into the Bitcoinica mess.

What is a Bitcoin and why would i want to invest in it.

Yeah, I'm wondering the same. I never heard of it until this thread. (I only read this thread because the title made me think of Justin and this site).
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Re: BitCoin had no backups of it's database

Mon, 28 May 2012 01:54:33 EDT

nonymous posted :

said by Blackbird:

One guy even put a major part of his retirement savings into the Bitcoinica mess.

What is a Bitcoin and why would i want to invest in it.

Re: BitCoin had no backups of it's database

Sun, 27 May 2012 17:18:05 EDT

Blackbird posted : Having read most of that thread (88+ pages), largely for its unfolding entertainment value, I remain amazed at how many people place significant amounts of money at risk in the hands of total strangers who spout a great-sounding story line... and then those same folks act stunned and angry when the money evaporates for whatever reason. One guy even put a major part of his retirement savings into the Bitcoinica mess. What's scary is that many of these same folks determine the outcome of national elections, are behind the wheel of cars coming down the road toward us, or propel the world's stockmarkets.
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Re: BitCoin had no backups of it's database

Sun, 27 May 2012 16:37:20 EDT

DrStrange posted : "No database backup"?! "Sorry for avoiding the issue"?!

I think I can hear justin laughing clear from the other side of the world.

Re: BitCoin had no backups of it's database

Sat, 26 May 2012 23:00:14 EDT

caffeinator posted : Heh, if I wanted, I could use my 560ti FPB and CUDA to make mad BC....but I don't giva fluck. ;-)

»en.bitcoin.it/wiki/OpenCL_miner

Re: BitCoin had no backups of it's database

Sat, 26 May 2012 22:17:53 EDT

Rifleman posted : I just read this post and googled bitcoin. 1 BTC was worth 5.00US at one point in time. I was amazed it exists as a monetery system.

Re: BitCoin had no backups of it's database

Sat, 26 May 2012 19:35:35 EDT

caffeinator posted : Topic is a bit misleading as it's not BitCoin itself that got FUBAR'd but the trading site Bitcoinica. BitCoin itself is pretty decentralized by design IIRC.

Still, crappy IT is the new black, eh? That's what happens when people who actually know their stuff and have years of experience get pushed aside for the cheaper-hire youngsters with a few certs. Not to mention the almighty dollar is more important than security.

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Re: BitCoin had no backups of it's database

Sat, 26 May 2012 19:34:43 EDT

leibold posted : Based on reading that thread (and realizing that much of the information is not official):
- the entire operation was based on cloud services (a single provider)
- backups were made but only to other servers/services within the same cloud
- an intruder managed to gain access and ultimately gaining full control
- site owners reported compromise to cloud operator and had all servers locked down
- in locked down state neither site owner nor intruder were able to restart services or access any of the data
- intruder covers his tracks by deleting the cloud servers (apparently an operation not blocked by the lock down)
- not explicitly stated, but it seems the "delete server" operation is irreversible
- site owners do not even have the necessary information to contact effected users to provide the legally required notice of the compromise

said by Noah Vail:

It isn't good.

No kidding!
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BitCoin had no backups of it's database

Sat, 26 May 2012 16:57:55 EDT

Noah Vail posted : We're popping into the middle of an angry Bitcoin thread.

This looks to be a post from a vendor providing database and recovery services to Bitcoinica.

said by BCForum :

No database backups. Sorry for avoiding the question.

I hoped someone else could clarify this. I don't have all the full details, and would hate to make incorrect statements. I also didn't want to jeopardise efforts to refund people.

From what I gather, there are no backups of the database. Only partial records for accounting which is being used to extrapolate balances. I'm not sure of the exact details, but I think they need a full view of the claims before payouts begin (like a big jigsaw puzzle) to properly cross match records.

Reading the whole post gives better overview of what they're going through. It isn't good.
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