Post
Topic
Board Altcoin Discussion
Re: IOTA - Thousands of Wallets Compromised and Funds Stolen
by
walterw
on 23/01/2018, 10:22:28 UTC
I can understand that you are pissed of because you lost your funds but this issue has nothing to do with Authentication, Accounting and Authorization. You gave your private key to an untrusted third party. Thus Authorization is not the problem here because with the private key a bad actor can steal your funds regardless of the password protection.
You obviously don't understand even basic concepts. Can you read your email without a password to your account? No.

That is a huge difference. Your e-mail provider is mostly reputable. You have relied on a service that did not appear to be reputable.
The creation of a private key should NEVER be passed to third parties. In my opinion you are not the only one to blame.
IOTA should have clearly warned against it and should also introduce a service for creating a private key.
Yes, I agree. We should have all known it, still we ran straight into the trap, as it was suggested in the IOTA board. And there is proof for that. See the info here:
https://forum.helloiota.com/9284/Call-to-action-lets-catch-the-thief

Can you please quote the prove? I do not want to read the whole thread. Thank you.

But as I said. IOTA should have had a clear presence and had to set up its own seed generator. In addition, IOTA should have warned against using a seed generator from a third party. IOTA did not do that, so IOTA is partly to blame. Why only a partly to blame? Because we are adults and responsible for our mistakes. You were careless when choosing the seed generator and should have thought along!