Is IOTA consumer ready?
Nov 28th 2017 I withdraw my IOTA from Bitfinex to my wallet. I opened my IOTA wallet, attached a new address to the "Tangle" and authorised the send request from Bitfinex. 2 days later, the tokens still hadn't landed into my wallet...why? Simple, they are now in a hackers wallet.
It turns out the address I used had previously been used to send/receive IOTA to my wallet. This opened an opportunity for a hacker to brute force attack the tangle and redirect my $9,000 into their chosen destination. No need for my private keys or seed. Simple as that.
Personally I thought I'd attached a fresh address to the tangle, however I'd missed one slight issue, the IOTA team had done a Snapshot which means all addresses are reset so the new address I'd attached was actually the very first address I'd ever used.
This is the address which I attached to the tangle.... if you use the block explorer, you'll see due to the previous transaction made for 25Gi this was the fatal mistake. https://iotasear.ch
UFMQXWOL9NMSIOEOG9YQVRKC9POLABOSCZQLSOFUI99Q9PHXGRC9BLJYZCFWLRCQKVISRHIIECFRPOQHCWC9STKVZD
This is the wallet with the hackers newly acquired IOTA.
KNSWI9NXGVBRXHABDRIIZLAMCCKYEZFCPHJQWBMCCWQTMEHGAUVFBMKXLLM9O9CSZQOFLCFZWTFRHTCVD9QAOBKKCC
Strangely it only took the hacker 4-5 hours to locate my transaction and perform the hack. Almost seems to easy.
I am a little stunned by the whole situation. Is this my fault? Should there be warnings? Fail safes implemented?
All that is irrelevant, my goal is to share my experience and hope others don't experience the same. Which lead me to a quick google search of "IOTA Stolen"
Hundreds and hundreds and hundred have fallen victim to the this... WOW.
Is IOTA the least secure Crypto Currency in the world?
I'm interested to hear your thoughts and experiences. Have you been hacked or lost your IOTA??
I truly believe IOTA and it's tangle is unsafe and Fisher Price mode should be activated until it is bulletproof.
I wouldn't mind if my computer had malware or somebody had stolen my key, but this is a hack direct on their tangle. This makes the tangle worthless until resolved.
I understand there is an element of user error in my case, however lack of information, warnings of consequence etc have not widely been publicized that their wallet is unsafe to use. This should be advertised CLEARLY on the website.
When will this hole be filled in and more importantly when will the next hole be found? Do you feel safe with your IOTA in their wallet?
IOTA is Alpha, not even BETA. And the wallet is one a MVP. The issue of reusing addresses after having spend from those addresses is slowly becoming more known in the community. But it sucks that you may have been the target of an address hack because of this.
Because user friendly it isnt.
All I'm trying to do is raise awareness to hopefully a) get the dev's to sort the issues and b) prevent good honest people falling victim to these crimes. IOTA team should be ashamed and imo the wallet shouldn't be allowed.
~~~ embed:CryptoCurrency/comments/7gwl38/hello_guys_i_have_lost_30k_in_iota_and_i_would/ Another victim reddit metadata:fENyeXB0b0N1cnJlbmN5fGh0dHBzOi8vd3d3LnJlZGRpdC5jb20vci9DcnlwdG9DdXJyZW5jeS9jb21tZW50cy83Z3dsMzgvaGVsbG9fZ3V5c19pX2hhdmVfbG9zdF8zMGtfaW5faW90YV9hbmRfaV93b3VsZC8gIEFub3RoZXIgdmljdGltfA== ~~~
I had my tokens in wallet for 3 months without touching it with no repeat address. Right after the transition, my tokens are gone being hacked. It is very obvious the Tangle is not secure. I suspect the hackers managed to intercept the funds via the Snapshot. My funds was in the Snapshot. I never touched my wallet. In 9th November, all funds transferred to another address. GONE!
Interesting
I will follow you to see your future posts! +vote
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