Post
Topic
Board Altcoin Discussion
Re: Mintpal hacked (VeriCoin)
by
crunck
on 14/07/2014, 08:54:12 UTC
Quote
1) We lost a considerable amount of VeriCoin in the attack, however we have been working with the VRC developers and all major exchanges to hard fork the coin at a position before the attack. This will allow us to retrieve the stolen coins and facilitate all withdrawals. We are also working with various exchanges to accommodate any losses they may encouter as a result of the required fork.

This is a problem right here. Just because it's stolen does not mean they should be able to arbitrarily reverse the hack. If they're successful at hard forking, this will set precedence that any time there is a theft reported, devs can just hard fork again. This will eventually be abused, and corruption happens.

I agree with you right here.

This is a very scary thought that people can just hard fork and wipe out a load of transactions as above, this will ultimately end up being abused, whilst I sympathise with the loss incured, it is at the end of the day mintpal's problem not everyone else that will now be included in this fork.

Not good news I dont think !