08 Nov '13, 4am

Australian #bitcoin user TradeFortress says site hacked, $1 million in virtual currency stolen

Australian #bitcoin user TradeFortress says site hacked, $1 million in virtual currency stolen

A young Australian entrepreneur says his bitcoin website has been hacked and thieves have stolen more than $1 million in virtual currency. Unlike old currencies bitcoin is digital, traded computer-to-computer, and often used to pay for goods and services on the internet. But it has no central authority or government-based backing, and the alleged theft - one of the largest in the currency's four-year history - raises questions about digital money and if it can ever be regulated. A bitcoin user who calls himself TradeFortress says more than 4,100 bitcoins worth about $1.1 million have been robbed from his website. The stolen bitcoins are owned by the users of his website, who had trusted their bitcoins to him. TradeFortress, who says he is not much older than 18, does not want to be identified because he is worried about his personal safety. He and his users know the chance...

Full article: http://mobile.abc.net.au/news/2013-11-08/bitcoin-site-hac...

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Australian bitcoin site hacked, $1 million in v...

abc.net.au 08 Nov '13, 2am

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