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.
agreed and this reminds me of the BTER / NXT hack other day and the JPC / Allcrypt hack the other month.
on one hand i think we gotta play by the rules.. bear with me on this lol
Ok so we have a lawless market right ?
Then in all fairness it's to the exchanges to run their business how they see fit period.
BUT
I don't like what these guys are doing..
I myself think if they stole the coins then oh well they are stolen and that is the end of it.
Hard forking a coin or other dumb measures is undermining Crypto bit by bit.
a lot of negative precedents are being set more frequently and unless Regulation is put in place and fast i am getting out of this shit scam pit of bullshit scene.edit:
This shit is getting out of hand..
It also reminds me of Cryptsy getting hacked for Points couple weeks back..
A guy exploited the exchange and dumped Cryptsy "Points" down to about 4 sat's
The exchange rolled it back but guys got fucked over because they sold other coins to buy up cheap points..
so Cryptsy rolled back the changes on points leaving anyone that dumped their coins earlier kinda fucked over.. as i was told by users who did this.
AND the guy who hacked it popped up after a week and i had a little chat with him and turns out he robbed the place for a bit more than 89k usd after cashing out.
He was laughing his ass off asking me directly what he should spend it on.
Crypsty was not hacked, and no funds were removed from site. We did have a bug that was exploited in the points market, but it was quickly found and corrected. No funds were removed.