Re: Official BlackCoin statement from CryptoRush - Very shocking information
It's now clear to me that fyrstikken was planning on "daytrading" the account holders funds; that's why he wanted to put them on all of those exchanges.
It's obvious that developers can't trust each other, based on the bug in the coin software. The coin developer was partly to blame.
But on a separate note, from the FYRSTIKKEN pdf:
CryptoRush will from now on have their customers cold-storage placed on Cryptsy,
JustCoin, Bitstamp, BTC-E, CampBX and other well known, well secured Bitcoinexchanges
as an extra layer of security, as we learned from MtGox - never have all the
eggs in one basket.
WTF?!!!! That's the funniest thing I have ever read!
Oh well, at least his 500k will go towards paying back the people who lost money.
But on a separate note, from the FYRSTIKKEN pdf:
CryptoRush will from now on have their customers cold-storage placed on Cryptsy,
JustCoin, Bitstamp, BTC-E, CampBX and other well known, well secured Bitcoinexchanges
as an extra layer of security, as we learned from MtGox - never have all the
eggs in one basket.
WTF?!!!! That's the funniest thing I have ever read!
Oh well, at least his 500k will go towards paying back the people who lost money.
I think that already happened.
1. CR sets up the exploit in their daemon
2. CR makes accounts to "overdraw" the affected coin
3. CR sells the BC for a profit hoping to buy back the BC after their huge dump lowers prices
4. CR says users stole BC and blames Dev for the exploit
He actually says they can use the cryptorush coins for arbitrage at 7.15 in this Youtube video
http://www.youtube.com/watch?v=IUMKanG3Jik&feature=youtu.be&a
GREAT IDEA
That's not dangerous at all 