25 Nov '13, 5pm

Cyberattack Leads to $1 Million Bitcoin Heist

Cyberattack Leads to $1 Million Bitcoin Heist

Another Bitcoin company has fallen victim of a massive cyberheist. BIPS , one of the largest European Bitcoin payment processors, lost 1,295 Bitcoin (currently worth $1 million) after a cyberattack. As the price of Bitcoin continues to rise , cybercriminals are targeting companies with large holdings of Bitcoins in their servers. The attack on BIPS happened just a few weeks after inputs.io, which allegedly lost 4,100 BTC , worth more than $1 million at the time. See also: Bitcoin Goes to Washington: The Case for and Against Digital Currency Hackers launched their initial Distributed Denial of Service (DDoS) attack on BIPS on Nov. 15, the company wrote in a Reddit post . The hackers attacked again on Nov. 17, overloading BIPS servers and somehow getting access to several online wallets, which allowed them to steal the 1,295 BTC. BIPS, which claims to have more than 20,000 c...

Full article: http://mashable.com/2013/11/25/cyberattack-leads-to-heist...

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