Quote from: tritonium on February 25, 2018, 03:30:11 PM

Quote from: paramind22 on February 25, 2018, 01:37:50 AM

So, the reason why Cryptopia isn't trading this anymore is because the coin was hacked on their site, and Tradesatoshi is running the wallet and trading successfully? Isn't that a breach of contract for Cryptopia?

From what I understand cryptopia has a security issue with the way they credit deposits. Someone was able to use the low deposit confirmations to double spend and withdraw funds that weren't actually deposited.

This explains in a little more detail how the double spend was successful. It's about CasinoCoin but applies to other coins which were 51% attacked. The main concerns (IMHO) are the relatively low number of confirmations needed for a coin with a low hashrate, and that once confirmed the deposit transaction is assumed immutable and is never checked again to see if it has been invalidated by a competing chain. A simple automated audit of recent deposits would have clearly shown there was a problem and mitigated the losses.

https://www.reddit.com/r/casinocoin/comments/7yvvp1/casinocoin_foundation_final_statement_on_cryptopia/