Post
Topic
Board Scam Accusations
Re: OpenMonero p2p exchange SCAM!?
by
OpenMonero
on 25/06/2025, 06:43:06 UTC

Whether what they said about being hacked is true or not, they should be boycotted. No one should continue to trust them until their code is open sourced, and until the "vulnerability" is identified and fixed.

They apparently removed everything now, I can't see any warning messages on their website, as if this alleged hacking event never happened.
What is more concerning to me is that OpenMonero never publicly explained what happened in forum or in social media, not that I aware off.

This definitely says that they exit scammed a lot more than they were hacked, which is a shame. Open sourcing and identifying a vulnerability would have been enough to at least retain benefit of the doubt.

You may find this surprising, but just two days after the hack, I successfully open sourced the first decentralized peer-to-peer platform fully operational on NOSTR. This new repository represents the pioneering P2P Monero exchange featuring a decentralized reputation system and a federated order book. It incorporates all the functionalities typically found on openmonero.com, excluding self-destructing messages. Importantly, anyone can run their own instance, as the backend code is entirely open-source. The implementation is straightforward to audit, lightweight (only 4,500 lines of code) and genuinely decentralized, leveraging an open protocol like NOSTR that requires no additional software.

Frontend: http://rf5cqoxqlitdx4umuce5dgihjzabql4hs3zjkvs3em7xzjfa5yyhkeqd.onion/om/openmonero-dex
Backend: http://rf5cqoxqlitdx4umuce5dgihjzabql4hs3zjkvs3em7xzjfa5yyhkeqd.onion/om/openmonero-dex-api

The primary objective is not to achieve absolute prevention of hacks, since no system can be 100% secure, but to minimize potential damage from the outset, similar to the principles of Qubes OS. This incident demonstrates that openmonero.com remains one of the most secure platforms available, capable of handling significant volume while maintaining minimal funds at risk, thus limiting potential losses in the event of a breach.

To date, approximately USD 20,000 worth of user funds have been stolen, along with USD 3,000 in arbiter funds, despite a monthly trading volume approaching half a million dollars. Had I employed a setup similar to Haveno, I estimate that losses could have exceeded USD 2.5 million making recovery efforts challenging.