Primedice hit for $1m+ by hacker

That's just the number of bets they took in the past 24 hours, it's not measured in bitcoins. Any size bet will add 1 to that tally.

As of Mar 24, 2015, the site had 900k bitcoin wagered in total. (http://themerkle.com/reviews/primedice-dicing-done-right/) At 1% house edge, that's 9k btc profit and the 4k btc that this one hacker won would obviously be a substantial portion of that

In reality its probably more than that. People will often gamble until cleaned v.s. pulling out their money

 

[video]

In reality its probably more than that. People will often gamble until cleaned v.s. pulling out their money

That's already taken into consideration in the calculations of total amount bet. Nothing else matters, if u know the total amount bet and the house edge, u can calculate their profit by just multiplaying them together

 

[JSand]

They have a daily turnover of approximately 12 million 720k Bit coins / 24 hrs ,
that is 3 billion 269 million $ / 24 hours.

So basically with that 1% edge they are making a profit of 32,690,400$ / 24 hours

what is 1million $???

$32M a day profit would mean they made over $11 Billion dollars last year, that would put them in the top 25 most profitable companies in THE ENTIRE WORLD. They aren't, you're wrong. =| =|

 

[Xolr]

$32M a day profit would mean they made over $11 Billion dollars last year, that would put them in the top 25 most profitable companies in THE ENTIRE WORLD. They aren't, you're wrong. =| =|

Don't argue with this guy, he works at a bank.

 

Don't argue with this guy, he works at a bank.

The sad part is he's serious.

 

[JSand]

Don't argue with this guy, he works at a bank.

How in gods name do you remember that?

The sad part is he's serious.

Did i say something incorrect? Correct me if i'm wrong......

 

[xPhilip]

Wow that's a pretty big hit, crazy to think they let out that giant payout without realizing something was going on

 

[kmjt]

Interesting story. I doubt there is really anything they can do to get their money back though from the hacker since it is bitcoin? If it is only 90 days to make that back its not too bad of a hit I guess.

 

How in gods name do you remember that?



Did i say something incorrect? Correct me if i'm wrong......

Thought he was talking about RL lol.

 

[video]

Interesting story. I doubt there is really anything they can do to get their money back though from the hacker since it is bitcoin? If it is only 90 days to make that back its not too bad of a hit I guess.

The article said due to the anonymous nature of bitcoin, pursuing the hacker wasn't possible and people seem to be forgetting that there are other costs to running a website like primedice (like paying for sythe signatures lol) and I'm sure that they have investors who need to be paid, etc

 

[Xolr]

The article said due to the anonymous nature of bitcoin, pursuing the hacker wasn't possible and people seem to be forgetting that there are other costs to running a website like primedice (like paying for sythe signatures lol) and I'm sure that they have investors who need to be paid, etc

Yeah that's why I said it would take 90 days of gross. They have a faucet that a lot of people try to exploit.

 

[Dil]

Guessing this is why they stopped the signature campaign. Oh well.

 

LOL!

Just go to www.primedice.com and see how much is wagered in the last 24 hours.




Yep I did, based on real calculations

Your calculations are incorrect, they don't get anywhere near that volume. This story wouldn't have been such a big deal if they lost 1/34th of a daily earning.

 

Where is the fucking gun? RIP owners hopes and dreams

 

[The Feels]

Hope they can rebuild after this, sadly that they could not realise it before

 

[Almond Joy]

1 million dollars in bitcoins stolen.. damn that's unfortunate.

 

[Carbon]

I used to watch Hufflepuff dice 12 btc on 3x payout every time and wondered how he got so lucky

 

[NikeShoes]

Ouchhh...

Anyways, for those talking about profitability... Don't the counters on these websites include faucet bets? That's definitely going to make up a considerable portion of the counter. Just a thought.

 

[ridooz]

Holy shit, that's a big amount of money right there! That will probably take a while to rebuild.

 

[Tyrant]

It really makes me wonder why they didn't invest more into better seeds. I wonder how much they drop into advertising. Then again, it seems like they just spent $1m on advertisement.