It finally happened, someone managed to successfully doublesped almost 80,000 QuatlooCoin on @Bittrex Exchange. From my point of view, the coin is officially DEAD until the damn shitcoin is replaced with a Bitshares, Ethereum or soon to come, Golos or Steem Issued Tokens.
This just show how vulnerable POW-Coins are for 51% attacks. Be aware! @Bittrex has disabled the wallet for deposits and withdraw, and AFAIK the Coin-Dev and the QuatlooCoin community has not yet been informed.
I obtained the following information by accident/confusion - so you might be one of the first people to know about this major fuckup.
wow good article, have to be careful what shitcoin's we invest in to.
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I am not into shit coins... just forget these type of coins... even though they might have a purpose.
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Yeah I stay clear from really shitty coins, the few times I tried buy and selling them lost more than I gained, hence why now I only own some of the top 10 coins.
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for me it's bitcoin ETHereum and Steem,
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yes it will never happens in STEEM.
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STEEM is for the people
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Fortuitous that I sold all my Quatloo a few days ago.
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You knew it xD
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Inside job.
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I don't know how thsi was done, but it seems to me it's a pretty small coin affected -- hence a 51% or similar sort of attack appears thinkable, nothing to get upset about for more established Crypto coins.
Noteworthy though, and thanks for sharing @fyrstikken.
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Takk for at du deler, ha en fin dag..
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I wonder wich forum/chat that is
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It could be the 2008 banking crisis all over again. Just digitally.
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It would be nice to doublespend some, though! 😈😎🎻🎺🎹🍸🍺🍻🍾🥃😜🤣🤑
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That is crazy. Way to fall into info.
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Thanks for the heads up @fyrstikken. So many different coins around at the moment, wondering how many will survive more than a few years.
Also funny that you get to know about it before their own devs lol :D
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Thanks for sharing
upvoted followed resteemed
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Thanks and restreemed
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I lol'd so hard.
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yeah... hand's off of shitcoins with a weak network!
thanks for the PSA!
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Hello @fyrstikken! Nice to see a post from you, this gives me the opportunity to thank you for your recent upvotes on my posts.
Also a question. What does double spend mean exactly? The person who did it bought both eth and btc for it at the same time for the same value on bittrex or something? How is it possible?
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Double spend is a general term for describing an event which allows an attacker to spend the same private key multiple times, in effect creating coins from nothing. This is usually accomplished for a limited period of time, just long enough to rip off an exchange or other trader. This is most commonly accomplished on weaker networks by using a node attack in which case they create more nodes than the network currently has and for a short period of time they control the consensus of which chain is verified. This for a short period of time basically creates a secondary chain that is false, but as soon as they shut down the nodes they control, the transactions are invalidated, the original valid chain is validated again, and the "double spent" coins disappear.
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Sell all the Quatloo! :D
Well, let's hope they can work it out....
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LOL
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Nice post
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Ha ha! I could do a double spend on Borgcoin tomorrow being a 80% bagholder in the frickin thing on cryptopia! The only problem is I may be assimilated as well have having my balls pulled up through my ass-hole! Not worth the hassle launching a full scale attack! LOL! I'd rather clean the toilets :)
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Never heard of QuatlooCoin... But now it seems to be gone forever. What was it all about?
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So.. what is QuatlooCoin?
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You appear to be a Major Player on Steemit... NIce Viking Look going on...
With so many followers, It's doubtful that you'll be able to get back to this comment... I know how hard it is for me to answer comments... Anyway, have a nice day...
@pocketechange
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thank you for information . take care :)
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Thanks for sharing this info, especially to a newbie like myself. very much appreciated.
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Hi can you please upvote all of my posts thankyou :D
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Wow @Fyrstikken I did not know you were on steem, good to find you. I remember watching your videos on youtube waaaaay back in the day. Thanks for the info, in fact I think you covered QTL in some depth years ago did you not?
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Hey how are you i am following you an like all of your posts
can you please follow me back :)
and give some upvotes on my new posts thankyou
waiting for your response
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Great post. i've Resteemed :)
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Hey how are you
can you please upvote my new post
Thanks
waiting for your response !!!
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Not all coins are created equal, that's for sure. Great find!
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Good information
Thank you
I follow you.
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Outrageous ! And they put Martha Steward in jail...
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@fyrstikken thanks for helping me :)to my post
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