25 Nov '13, 6pm

$1 Million Heist Reminds Us That Bitcoin Is Neither Safe nor Secure

Let's play a little game called Good Idea/Bad Idea. Round One: Saving money. That's a good idea! Round two: Saving thousands of dollars in a Bitcoin wallet that's highly susceptible to hackers and heists. As the customers of Bitcoin payment processor BIPS will tell you, that's a bad idea. A bunch of cybercriminals just broke into BIPS and stole 1,295 Bitcoin . At the present exchange rate that's about $1 million. These Bitcoin didn't belong to BIPS, either, but rather to many of its 20,000 customers. According to postings in a Bitcoin forum , one customer lost about $73,000 worth of the cryptocurrency in the series of Distributed Denial of Service (DDoS) attacks that took place between November 15 and 17. You can buy a house for that amount of money in many parts of the country. After the breach, BIPS chief executive Kris Henrickson didn't exactly instill confidence in his...

Full article: http://gizmodo.com/1-million-heist-reminds-us-that-bitcoi...

Tweets

Cyberattack Leads to $1 Million Bitcoin Heist

Cyberattack Leads to $1 Million Bitcoin Heist

mashable.com 25 Nov '13, 5pm

Another Bitcoin company has fallen victim of a massive cyberheist. BIPS , one of the largest European Bitcoin payment proc...

Danish Bitcoin exchange BIPS hacked and 1,295 Bitcoins worth $1 Million Stolen

Danish Bitcoin exchange BIPS hacked and 1,295 B...

thehackernews.com 25 Nov '13, 7pm

The breaking news is that, another Bitcoin exchange company gets hacked i.e. BIPS (bips.me ), one of the largest European ...

Bitcoin

Bitcoin

finance.yahoo.com 26 Nov '13, 6pm

Related: Bitcoin's Price Swings Threaten Its Chance of Being a Real Currency This is because Bitcoin has no intrinsic or d...

How thieves stole $1 million in bitcoins from a "bitcoin bank"

How thieves stole $1 million in bitcoins from a...

businessinsider.com 25 Nov '13, 6pm

YouTube/Newfination BIPS CEO Kris Henriksen See Also The Man Allegedly Behind The Silk Road Drug Site Is Also Accused Of P...

Second major Bitcoin heist this month allegedly...

theverge.com 26 Nov '13, 4pm

Hackers have allegedly stolen over a thousand bitcoins from the European payment processor BIPS in a theft that's now valu...

Sell:

markets.blockchain.info 27 Nov '13, 12am

ltc was the best investment I ever made in my life!! woohoo!! making more then I would on that crappy slow BTC!

Bitcoin’s skyrocketing value ushers in era of $1 million hacker heists

Bitcoin’s skyrocketing value ushers in era of $...

arstechnica.com 26 Nov '13, 6pm

A company billing itself as one of Europe's biggest Bitcoin exchanges said it suffered a coordinated attack that succeeded...

Thieves Covering Tracks Following $100M Bitcoin Heist

Thieves Covering Tracks Following $100M Bitcoin...

threatpost.com 03 Dec '13, 9pm

based on a description of the attack from the forum Bitcointalk.org , Gorup said it’s likely that the attackers hijacked t...

As bitcoin booms, so does bitcoin bank robbery

As bitcoin booms, so does bitcoin bank robbery

QZ.com 25 Nov '13, 9pm

Robbing a bank is such a hassle in the real world, with all the complicated logistics of weapons, vaults, dye packs, and g...

The Value Of SecondMarket's Bitcoin Trust Just Broke $50 Million

The Value Of SecondMarket's Bitcoin Trust Just ...

businessinsider.com 26 Nov '13, 10pm

The net asset value of SecondMarket's Bitcoin Trust has surpassed $50 million. As of 4 pm, the fund's assets under managem...

Bitcoin Payment Processor BIPS Attacked, Over $1m Stolen

Bitcoin Payment Processor BIPS Attacked, Over $...

coindesk.com 25 Nov '13, 12pm

Europe’s primary bitcoin payment processor for merchants and free online wallet service, BIPS , was the target of a major ...

@AdrianChen

nytimes.com 27 Nov '13, 12am

I wasn’t trying to manipulate an underground economy. I was just doing my job as a blogger for the website Gawker when I b...

The past 7 days have been really intense, we've...

Blockchain.info 25 Nov '13, 12pm

Before your bitcoin wallet is saved on our servers it is AES 256 Bit encrypted in your browser. Your password is never sha...

MT

MT

solarbuzz.com 25 Nov '13, 1pm

The US will be the third-largest solar PV market in 2014, after China and Japan. Santa Clara, Calif., November 25, 2013 —T...