05 Apr '13, 3pm

Dual cyber-attacks hit Bitcoin virtual currency systems

Dual cyber-attacks hit Bitcoin virtual currency systems

Apart from being an easy target due to its size, profit is most likely the primary motive for the attack, the company added. “Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can. Repeat this two or three times like we saw over the past few days and they profit.” In a separate attack on Wednesday, Instawallet, a website which enables Bitcoin traders to store and spend their currency, was also forced to shut down after hackers gained access to its database.

Full article: http://rt.com/news/bitcoin-currency-cyber-attack-394/

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Hack attacks hit Bitcoin value

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4 April 2013 Last updated at 11:28 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print Hack...

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