Continued to update Zhong Chang Zhao Changpeng live "review" theft, announced that no block reorganization, but was smashed

On the morning of May 8, the company announced that on May 7th, at 17:15:24, the hacker stole 7,000 bitcoins (worth about 40 million US dollars) from the coin wallet at the height of 575012. In the face of this unexpected incident, Champion CEO Zhao Changpeng conducted an online Q&A session at the live video site Periscope at 11:00 today, and responded positively to the theft.


Image source: Cryptocurrency Hub

At the beginning of the live broadcast, Zhao Changpeng said that he had basically no rest in the past 29 hours and took a short break of 20 minutes before the live broadcast. Later, some netizens ridiculed Zhao Changpeng's hairstyle. He also responded that after the hacking incident, there was a lot of pressure and no rest, and his hair was white. These chats are also sufficient to illustrate the tremendous pressure on the exchange to face the hacking incidents in terms of the security of the exchange itself and the public opinion.

First, he explained the attack:

"This time the hacker is very professional and patient. The hacker has previously discovered system security vulnerabilities and has been using virus, phishing and other means to obtain user accounts. They are very patient, until they get a large number of accounts and the system has a large transaction to launch the internal plus External compound attack."

Zhao Changpeng said that at present, the focus of the work of the currency security is to restore the currency security trading system, to ensure that all traces left by hackers in all accounts and data of the currency security are removed. This process is expected to last for a week, during which time the recharge and withdrawal will be suspended. For security reasons, users are advised to change the API key and 2FA.

Zhao Changpeng expressed his gratitude for the concern and support of many people in the industry. But he said that the currency has the ability to bear the loss of 7,000 BTCs, although this is a huge loss. If the netizen wants to donate money to help, you can contact the Gansu Charity Foundation directly.

In addition, Zhao Changpeng also responded to the community's hot discussion of “restructuring the blockchain to deal with hacker attacks”. After the attack, some members of the community suggested that the stolen 7000 BTCs could be allocated to the miners through block reorganization, and the money can also recover some of the funds, so that the hackers could not get anything. Zhao Changpeng said:

“Cinan is also considering the proposal of block reorganization. In fact, if you want to do it, it can be carried out within a few days. But there are also many concerns about the currency security, and you need to carefully judge the consequences of this. The transaction rollback is the credibility of the Bitcoin network. Saying that there is a negative impact, the team decided to re-examine the network first."

He said that the currency security association actively seeks help from the community. The proposal for block reorganization is a technical solution provided by the community, and the coin security team did not expect it. He will also keep the social network open and keep in touch with the community.

The community's response to the attack was also quite intense. But it seems that the focus of the incident has shifted to the issue of whether block reorganization / transaction rollback should be done. Well-known encryption investor WhalePanda said on Twitter today that the currency should not reorganize the Bitcoin blockchain. The stolen 7000BTC is not a big number for the currency security. Bitcoin is not Ethereum and should not be rolled back like Ethereum .


Under the official tweet of the currency security, there are also a large number of netizens who oppose the rollback, and almost no netizens support it.


User Dominic Tascarella commented:

“It’s absolutely impossible to roll back on the Bitcoin network. Bitcoin is a bitcoin that can’t be tampered with.”

Netizen WeloveCrypto said:

"Don't roll back! In the long run, rollback will destroy Bitcoin."

It seems that I heard the voice of netizens. Zhao Changpeng then said on Twitter:

“After discussion, it was decided not to use the reorganization method to recover the stolen amount. The main considerations are: 1. It may affect the credibility of Bitcoin; 2. It may lead to the split of the Bitcoin network and the community; 3. This is for the currency. Said to be a lesson."


After Zhao Changpeng announced that he would not reorganize the block, people in the industry also made comments. VladZamfir, Principal Investigator of the Ethereum Foundation, said on Twitter today that the truth is that the Bitcoin agreement will not prevent block reorganization, and what really prevents the restructuring is the social, legal and political status quo of the Bitcoin community. Zhao Changpeng "seeking reorganization", Bitcoin supporters said "no" and asked Zhao Changpeng to express respect for the Bitcoin network, so he said "Okay! Bitcoin is not modifiable."


WhalePanda is a ridiculous tone. He said in the tweet:

"I want to reorganize Bitcoin after I got up this morning. After negotiating with the other three members of the Magical Crypto Friends Quartet and US President Trump, I decided not to reorganize the block."

WX20190508-151843@2x For the community's reaction to this and spit, you can check

Babbitt Watch | Bitcoin Community: Roll back when you are stolen, do you want us to be Ethereum?