I believe this person is trying to take advantage of our recent media appearances. What most likely happened is that he created a project page that pretends to be official, but really isn’t and then he added a bunch of money to bump the project up to be 1st on the list. Then people will mistakenly donate to this fake project thinking it’s the real thing and he will end up withdrawing all the donated money for himself.
It appears Cybnate posted a warning on this person’s profile about copying other projects back in 2014…
I already alerted Sigmike and asked what we can do about it. Please don’t fall for it. What measures can we take to prevent something like this from happening again?
There's a bug that allowed him to create a negative distribution that resulted in a wrong positive balance. He tried to withdraw it but it failed because there was no funds on the account. So nothing to worry about. I'll fix the bug.
As I lost my trust in p4c, I removed all my funds from it, that’s why my projects are empty.[/quote]
That is unfortunate as the attempt failed. Best you don’t know how many failed attempts have been made to hack Peercoin 8)
I don’t see a reason to not trust it. Having said that nothing is 100% safe, but I think peer4commit has been around for 2 years or so with significant funds, so if something is inherently wrong with it, it would have been found by now.
Yeah, you’re right.
[member=30141]sigmike[/member] seems to have implemented it correctly.
I didn’t like the fact to have funds on peer4commit from the beginning.
However since it seemed the way things are done around here, I complied.
So this incident triggered me to remove my funds.
Now that I know that funds are locked per account, I’m regaining some trust.
However I might need to check out the source code to understand how it is secured.
Anyway, all seems fine, it is a good thing that we are being attacked.
I just never liked the centralized nature of p4c.
It is not perfect indeed, decentralised would be better. Ideally on its own blockchain or maybe on PARS. Someone having some spare time here?
But be careful to not let the perfect get in the way of the good. For now It suits our needs and there are so many other things which may need some developer’s work or attention which are probably more valuable. Just my 0.02 PPC.
Yes I know,
It’s just hard to trust a centralized entity maintained by someone I’ve never seen active in this community.
But I fully agree with your point of view.
