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Saturday, August 16, 2014

$1.65 Million


BTER is reporting that 50m NXT, or roughly $1.65m at press time, has been stolen from its exchange following an attack on one of its hosting servers.
A developer representing the China-based digital currency exchange platform confirmed the news on the community information website NXT Forum, suggesting that the BTER team was considering urging the NXT community to roll back the NXT block chain to recover the lost funds.
In a post to the community, developer ‘freeworm’ revealed the gravity of the situation for both the exchange and the NXT community, saying:
“It’s totally our fault and we are trying our best to cover all the loss. However, 50m nxt is huge for us, we cannot afford it at the moment.”
Freeworm continued his post by providing the address containing the stolen 51,670,000 NXT, and detailing how it would seek to enlist the help of the NXT community in its effort to recover its funds.
The BTER representative suggested that the exchange is exploring all options, including contacting the NXT development team in an effort to rollback the block chain, thereby restoring the ledger to its state before the theft occurred.
However, NXTOrganization confirmed that a signifcant majority of forgers opposed the plan when it was proposed as part of a client update. 
“Most NXT users report only seeing a few 1.2.5b nodes. This would suggest that most of the community decided to go against the roll back even under the extreme pressure of such a large theft,” a spokesperson said.

Read more at:
 http://www.coindesk.com/bter-nxt-bitcoin-exchange-hack/

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