500 Million Dogecoins Mined by Unknown Hacker in Malware Attack | Hacker News Reader

500 Million Dogecoins Mined by Unknown Hacker in Malware Attack

coindesk.com

95 pointsbojanbabic35 comments

Given that the doge community has tended to be relatively "nice" rather than every-man-for-himself-libertarian, is there any chance of organizing a blacklist for these coins or some such?

This wouldn't really work, as he can just make a large number of addresses and spread the coins out across a huge web. You could theoretically track the web and all the addresses, but you might then be blacklisting companies and individuals who unknowingly accepted his coins.

Unfortunately that's the "beauty" of anonymous decentralised currency.

That's not true-- if you built it into the protocol/client, then transactions from the blacklisted addresses would simply never be accepted into the blockchain; there would not be the possibility to spread them around.

But I doubt any of the main bitcoin (clones) would ever do that.

I'd love to see that experiment and I'm excited to see the how the process of blacklisting would work.

What would be next? A list of "unshibeful" businesses that are blacklisted? Guns? Drugs? Alcohol?

This is the perfect experiment to see how an un-libertarian, every-man-for-every-other-man interpretation of commerce works out.

If 51% of the mining capacity of the bitcoin network decides that your coins are invalid they cease to exist until the ban is lifted.

Correct me if I'm wrong, but it's a bit heavier than that if technically identical: the coins cease to exist until 51% of miners come together again to declare that they should exist again. At which time they also might agree to pay themselves any amount of Dogecoin or flood the market.

I bring this up purely because "ban is lifted" sounds like a much more achievable thing than I believed was possible. While 51% of people might agree to blacklist some obviously illegitimate coins that harm the value of the market... it doesn't implicitly mean that they would come together again even if irrefutable evidence proved their original belief wrong.

You cannot give yourself any x-coin with a 51% attack.

You can double-spend arbitrary, though, right? Your purchasing power would be arbitrary until you lost 51% control, I suppose...

The "community" cannot blacklist anything, it's the miners. And it is very unlikely that miners with >50% of the network hashrate would agree to this, since most heavy miners don't really belong to the "community" but are just in it to mine enough to be able to sell to cover their hardware and electricity costs.

If merchants and exchanges refused to accept block rewards from miners that don't follow a certain rule set, the miners couldn't sell their block rewards.

It's a complicated game.

Yes, the "community" can with modification to the code.

Any cryptocurrency of value seems to have to fall back to undesirable bureaucratic policies or be devalued by having its own ideology turned back upon itself.

The human cycles spent in monitoring and securing value will put a major drag on the ability of the currency to stabilize its value. Stable value gives currency utility. Utility gives a currency adoption. Adoption gives a currency value.

I don't recall where I got this from, just threw it in to my quotes.txt without referencing it:

"If you collect a bunch of people and tell them to abandon all the social norms like honesty, politeness, respect, charity, and reason in favor of a cause – then the most likely result is that when your cause tries to develop some internal structure, it will be overrun by a swarm of people who have abandoned honesty, politeness, respect, charity, and reason."

It is apparently from this article: http://slatestarcodex.com/2014/06/14/living-by-the-sword/ about the feminism movement turning on itself.

That's around 180k USD at the current exchange rate.

Wouldn't discovering a huge dogecoin mine devalue it?

I'm guessing it'd devalue if they tried to sell at once, but isn't mining public in that the public blockchain already reflects the 500m mined?

Trying to sell all of them in one go would devalue them.

I would suspect that speculators would devalue it expecting a significant amount to be sold.

he/she already sold all coins mined and caused market dip

Meanwhile, everyone is checking their Synology box for mining software.

What's a good way to do this? I have a Synology NAS at home but it's behind a NAT except for specific ports for security cameras. I'll confess I have no earthly idea how to tell if it's been hax0red.

Here's a thread on the Synology forums on how to check if your NAS has been infected and how to remove the malware:

http://forum.synology.com/enu/viewtopic.php?f=19&t=80857&p=3...

In April my university reported several Synology boxes being compromised with "bitcoin" miners. I suspect that was part of this pool.

500 million dogecoins? That's worth almost 12 grams of lunar regolith, right? That dude must be seriously Jonesin' for some titanium dioxide.

I honestly don't think that the dogecoin community could actually do anything about this without breaking character, other than to suggest sending this guy to the moon... and leaving him there.

Nah, I'd rather he not be hanging out on my eventual lunar real estate ;)

He could have gotten a Ferrari yesterday on reddit for less than half that.

http://www.reddit.com/r/dogemarket/comments/28c942/sg_2003_f...

And they say CPU mining isn't profitable. :)

That's less true for scrypt based pow chains, although that is rapidly changing with scrypt ASICs now hitting the market.

wow.

such hack.

much coin

so profit

https://github.com/foilo

Account deleted, but this says enough. "openshift-arachni 0 Deploy arachni on openshift"

Apparently hacker used Arachni on openshift to scan for vulnerabilities

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