Sunday, December 1, 2013

One of the World's Largest Bitcoin Sites Hacked!

Coindesk, one of the world's largest Bitcoin sites, reports hackers stole 1,295 bitcoins worth more than $1 million.

Criminals weakened the site by launching a catastrophic denial of service attack - where a server is bombarded with data until it collapses - before stealing the virtual currency.

Chief executive Kris Henriksen wrote on the Bitcoin Forum: 'Please be advised that attacks are not isolated to us and if you are storing larger amounts of coins with any third party you may want to find alternative storage solutions as soon as possible.

A statement on the firm's website said: 'BIPS has been a target of a coordinated attack and subsequent security breached. Several consumer wallets have been compromised and BIPS will be contacting the affected users.

'As a consequence BIPS will temporarily close down the wallet initiative to focus on real-time merchant processing business which does not include storing of Bitcoins.

4 comments:

  1. We will see many more of these as Bitcoin matures. Protecting coins is difficult to do and the entrepreneurs who create better protection tools will do well.

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  2. BTW, did you see this story Bob?:

    Roger Ver donates 1,000 BTC to FEE.org
    https://www.youtube.com/watch?v=orzhba2dV1A

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  3. You can keep your 1s and 0s. I'll keep my gold. You can't hack gold :)

    ReplyDelete