Quote from: FlipWilson on January 01, 2018, 03:02:07 PM

Quote from: lizardbtc on January 01, 2018, 02:43:26 PM

Quote from: vitocorp on December 31, 2017, 05:01:47 PM

"During an attack on the IOTA network in October, some funds were found to be at risk of theft, due to users re-using their private keys. The IOTA team took the decision to protect IOTA token holders by taking those funds which were at risk into temporary custody through a snapshot.

Once the attack was stopped, the team worked on setting up a process for reclaiming the funds, and sending them back to the rightful owners. This process of receiving and validating the claims has been understandably complicated and sensitive especially when taking into account the immutability of the IOTA distributed ledger. This effort has required the full attention of the entire core and legal teams of IOTA over the last few weeks. "

Seen at: https://blog.iota.org/claims-and-reclaims-finalization-e692844c505a

Hmm if they did the snapshot of current situation, why people don't have acccess to their fund. Shouldn't they be able to move their funds once they did rollback if they did that in past. Soory I am lacking my knowledge about this issue, but if it is something that could happen again I just have to question it's security since it is new project at least not blockchain so all of us have some dubts.

How did fund ended up with devs then if they did snapshot o.o did they moved those coins or they somehow locked up particular wallets?

They will never say they did anything wrong. It will always be our ( the users fault ) .... These are great questions. Be nice to get a real answer.

One thing I do agree on is, Iota is HIGHLY CENTRALIZED. It is like having a bank account or using PayPal at this point. Devs just took over users funds when they deemed it necessary. Sounds like a bank or PayPal to me

this ability of randomly doing snapshots that allows seizing accounts worries me a lot. If this ability is not removed somehow there is no future for the coin. I'm still trying to understand what allows them to do so? The fact that the coordinator is in place or is it more rooted in the design itself?

BTC is valued the way it is because it's truely decentralized. Other then banning exchanges there is nothing a government can do.