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Its obvious that the plan was to be vague as possible... then just slip away hoping everyone just forgot about their coins. My initial investment was to be used as part of a home down payment.. I won't forget.
no refunds, the update below from the 4th basically stated they are not responsable we shouldn't have trusted them to hold any of our coins.
Wallet Status Update
04 December 2013 12:25 AM
We sincerely apologise for the limited information that has been available up to now, but we have not had and are still short of facts to be able to make sufficient thorough official statements.
Most of what was recoverable from our servers and backups has now been restored and we are currently working on retrieving more information to get a better understanding of what exactly happened, and most of all what can be done to track down who did it.
1295 bitcoins in total were sent to an external wallet by the attackers.
https://blockchain.info/address/1LuG91tcSQxKj32BsCoRkX7yQLfj9LtkCs
Those bitcoins are not retrievable unless we can find the perpetrators and somehow make a demand they return the coins.
The Danish National IT Forensic Police department have agreed to assist us examining what data there is.
It appears that in order to file a police report for theft, we may need consent from all affected parties to lodge, as according to the police they can not classify this as a theft due to the current non regulation of bitcoin. We are currently looking in to details surrounding this further, awaiting a response from our lawyers and the police department.
Will there be any reimbursement available?
Please bear in mind that the wallet service was a free service and thus there has been 0 revenue generated from it. Hence BIPS is unable to reimburse bitcoins lost unless the stolen coins are retrieved.
We are discussing the possibility of a compensation plan with our legal advisors, but are unable to comment further on this for now.
Practical information:
There are a few account holders who have a small balance of bitcoins in their wallets after the attack. Some have also had payments sent to their BIPS wallet bitcoin addresses and we recovered these on November 19th sending them to an external wallet for safety reasons. These coins will naturally be available for withdrawal by the respective owners. Any bitcoins sent to old addresses after November 19th will also be available to withdraw by those they belong to.
Some merchants have accumulated sales that have been converted to Fiat over time, but not yet reached their minimum payouts. Their balances will also be available in their chosen currency with an option to have them paid out immediately or paid manually together with their new accumulated balance.
For all of the above instances, we are currently working on setting up a clone containing old wallet info and transactions, please grant us patience ..
Notice:
Our mailing system was wiped out during the attack and is still not restored. That means that if we send out mass emails, a large number of these will never reach their destination or end up in Spam folders (some email providers will even auto delete them).
Please check the news section of our helpdesk for more updates and information regularly in case you are amongst the ones who are not receiving our emails.
Wallet Status Update
04 December 2013 12:25 AM
We sincerely apologise for the limited information that has been available up to now, but we have not had and are still short of facts to be able to make sufficient thorough official statements.
Most of what was recoverable from our servers and backups has now been restored and we are currently working on retrieving more information to get a better understanding of what exactly happened, and most of all what can be done to track down who did it.
1295 bitcoins in total were sent to an external wallet by the attackers.
https://blockchain.info/address/1LuG91tcSQxKj32BsCoRkX7yQLfj9LtkCs
Those bitcoins are not retrievable unless we can find the perpetrators and somehow make a demand they return the coins.
The Danish National IT Forensic Police department have agreed to assist us examining what data there is.
It appears that in order to file a police report for theft, we may need consent from all affected parties to lodge, as according to the police they can not classify this as a theft due to the current non regulation of bitcoin. We are currently looking in to details surrounding this further, awaiting a response from our lawyers and the police department.
Will there be any reimbursement available?
Please bear in mind that the wallet service was a free service and thus there has been 0 revenue generated from it. Hence BIPS is unable to reimburse bitcoins lost unless the stolen coins are retrieved.
We are discussing the possibility of a compensation plan with our legal advisors, but are unable to comment further on this for now.
Practical information:
There are a few account holders who have a small balance of bitcoins in their wallets after the attack. Some have also had payments sent to their BIPS wallet bitcoin addresses and we recovered these on November 19th sending them to an external wallet for safety reasons. These coins will naturally be available for withdrawal by the respective owners. Any bitcoins sent to old addresses after November 19th will also be available to withdraw by those they belong to.
Some merchants have accumulated sales that have been converted to Fiat over time, but not yet reached their minimum payouts. Their balances will also be available in their chosen currency with an option to have them paid out immediately or paid manually together with their new accumulated balance.
For all of the above instances, we are currently working on setting up a clone containing old wallet info and transactions, please grant us patience ..
Notice:
Our mailing system was wiped out during the attack and is still not restored. That means that if we send out mass emails, a large number of these will never reach their destination or end up in Spam folders (some email providers will even auto delete them).
Please check the news section of our helpdesk for more updates and information regularly in case you are amongst the ones who are not receiving our emails.
Re: List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses
1295 "stolen" from or by Bips on November 17th ish..
https://bitcointalk.org/index.php?topic=341682.0
https://bitcointalk.org/index.php?topic=341682.0
As promised I'd update when I heard back from BIPS, I recieved an email today from Kris. I added a bitcoin address to my account as requested.
.... text removed per request...
.... text removed per request...
Only thing I have heard from Kris was a PM asking me to remove info provided in a ticket sent to me..
Please be so kind as to remove the ticket text I wrote to you from public domain.
"Hi,
1) If ...........
There is a reason this is written below.
*************
This email is intended only for the person to whom it is addressed and may contain information that is privileged and exempt from disclosure. Please be aware that forwarding or distributing it is strictly prohibited.
always believed our generation would be a part of something big... something that made a world a better place... honest money would be a great legacy to leave the world! 26 and still bright eyed... 
Why are they still shown on bitcoin.org as a 'recommended' web wallet?
When something like that happens and you think an action is required, please report it! There's an "About bitcoin.org" page for this purpose
http://bitcoin.org/en/about-us
BIPS is now removed from the wallets listed on bitcoin.org .
I initially chose BIPS because it was recommended on the "choose your wallet" page..
This kind of comment concerns me. There is a red warning on each web wallet on bitcoin.org and users are forced to read them before looking at them. This was mainly designed to educate users about the risk of using these services, assuming that it was better than nothing given that people would be using them anyway. But a comment like this one seems to suggest this wasn't enough in some cases and can confuse some people into thinking these wallets are recommended despite the disclaimer.
Should we keep trying to educate users using disclaimers and by listing only web wallets with a "clean history", or should we stop listing them completely to make sure they don't appear like they are recommended (and leave users not informed about their risks or which one have some established reputation).
I came across bips by chance personally. The vendor I made my first purchased from was using them so I set up my first wallet there also. Prior to bips I kept them on the exchange purchased. I think it would be a great idea to sticky a warning in the Newbie and general bitcoin discussion forum to educate users about the risks of web based wallets.
I didn't even know I could download a software based wallet prior to losing my coins or I would have done that. FYI.. I joined the started with bitcoin in march of this year.
Wow, I'm a Zen Cart ecommerce designer and after looking at all Zen Cart/Bitcoin plugins I chose BIPS - YESTERDAY! I had no issue creating a new account and installing the software on demo site. I can't believe there were no warning or announcements anywhere to be seen, if It wasn't for this post I would not have known of any breach. Luckily I had yet to transfer BTC's to test their plugin - whew!
Sorry to hear the losses on here, I hope you find restitution quickly.
Dave Ward
Kitchener, ON, Canada
Sorry to hear the losses on here, I hope you find restitution quickly.
Dave Ward
Kitchener, ON, Canada
I was very surprised there wasn't more posts about this when I created this thread.
I withdrew 3.82761346 BTC from MTGOX to BIPS address 1PrCvhnTVqc6C9VcsWibPYTeQHyLrFJGEb on November 6th.
Then Spent .861 BTC sending it to 1CK8gvdupixuWWsPxo2dZLtXqZkVaYkhwA on the same day it was deposited.
My balance when BIPS went down should have been 2.96661346 (might have included the .001 fee)
https://blockchain.info/address/1PrCvhnTVqc6C9VcsWibPYTeQHyLrFJGEb?sort=1
Can you give me a crash course in understanding tracing the transactions?
Then Spent .861 BTC sending it to 1CK8gvdupixuWWsPxo2dZLtXqZkVaYkhwA on the same day it was deposited.
My balance when BIPS went down should have been 2.96661346 (might have included the .001 fee)
https://blockchain.info/address/1PrCvhnTVqc6C9VcsWibPYTeQHyLrFJGEb?sort=1
Can you give me a crash course in understanding tracing the transactions?
1) Did this
2) is this the sync process?
3) I know of Linux... don't know what live session or an airgapped box is
4) could do this
5) can do this
6) I only have one computer
7) guessing its a feature in Armory?
I certainly believe in personal responsibility and understand that I screwed up by trusting what I thought was a trusted wallet service while I worked on a more secure option (I moved them there from MTGOX about a week prior because I saw so many negative posts and worried they would be compromised and lost)
oh boy, OK
2) no, you need to verify that the armory you downloaded is not an imposter and has not been tampered with see https://bitcoinarmory.com/download/ under "Verifying Downloaded Files" you will need GPG for this and you should verify its checksum when you get it.
3) air gap is slang for a computer that is not connected to the internet; ethernet cable unplugged or radio disabled, preferably hardware disabled. Live session is an operating system loaded from removable media, either a CD or USB stick that sets it self up in RAM not on the hard drive. The whole point here is that your private key should never be on the hard drive. Armory suggests Ubuntu 11.04 I believe
7) that is fine, you just have to figure out the bootable live session and how to be damn sure its not on the internet when you don't want it to be.
what is syncing is bitcoin QT right? tell me you have bitcoin QT installed
Bitcoin QT is installed.. then I read about Armory... which can't be run at the same time.. The "syncing" is downloading all the transaction history then scanning that history I let it run on the windows laptop to see what its all about... All 3 of my coins were stolen so I don't have anything to protect at the moment.. PS every time I open my phone and see the new MTGOX price app I can't help but think about how I'm going to fund getting more coins again.
online wallets? really? still?
1 download armory
2 verify download checksum
3 boot linux live session on airgapped box
4 install armory
5 create cold storage wallet
6 print paper wallet and back up cold storage wallet to USB sticks that will never be inserted into connected computers
7 create "watching only" wallet version and transfer to USB stick that will be inserted into connected computers
we are talking real money folks, time to act like it
1 download armory
2 verify download checksum
3 boot linux live session on airgapped box
4 install armory
5 create cold storage wallet
6 print paper wallet and back up cold storage wallet to USB sticks that will never be inserted into connected computers
7 create "watching only" wallet version and transfer to USB stick that will be inserted into connected computers
we are talking real money folks, time to act like it
1) Did this
2) is this the sync process?
3) I know of Linux... don't know what live session or an airgapped box is
4) could do this
5) can do this
6) I only have one computer
7) guessing its a feature in Armory?
I certainly believe in personal responsibility and understand that I screwed up by trusting what I thought was a trusted wallet service while I worked on a more secure option (I moved them there from MTGOX about a week prior because I saw so many negative posts and worried they would be compromised and lost)
There needs to be a way to reverse transactions when things like this happen. It doesn't need to be like what Visa/ mastercard or paypal does.. Just some form of recourse built into the system.