Users sue Bitcoin exchange over $460k in missing funds

Finextra: Users sue Bitcoin exchange over $460k in missing funds

finextra.com 13 Aug '12, 11am

Users sue Bitcoin exchange over $460k in missing funds

Created by teenager Zhou Tong, Bitcoinica was one of the most successful Bitcoin exchanges until it claimed, earlier this year, that it had been hit by hackers who stole 43,554 coins, worth $87,000. Tong sold the exchange to UK-based rival Intersango in June but a second attack was suffered within days, with the thief making off with 18,547 Bitcoins worth $90,000. The site has been offline since. Bitcoinica assured users that the money was stolen from it, not customers, and that all withdrawal requests would be honoured. It set up a claims system but then told users that only half of their money would be returned. With speculation swirling on forums that Tang himself was behind the hacks, the four plaintiffs have now filed a complaint in San Francisco demanding the $460,457.70 they say they are still owed. The former exchange users allege that the defendants - Bitcoinica, ...

Full article: http://www.finextra.com/News/Fullstory.aspx?newsitemid=23973

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@CryptoCurrent » 19 Aug '12, 5pm
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@mondatoportal » 14 Aug '12, 7pm
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@FintechBot » 13 Aug '12, 12pm
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@businesstoyou » 13 Aug '12, 11am
Users sue Bitcoin exchange over $460k in missing funds [link]
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Users sue Bitcoin exchange over $460k in missing funds. - Finextra [link]
@UmbraSecurity » 13 Aug '12, 8pm
[link] Users sue Bitcoin exchange over $460k in missing funds [link]
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Users sue Bitcoin exchange over $460k in missing funds [link] via @Finextra
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Users sue Bitcoin exchange over $460k in missing funds [link]
@Bug2Hunt » 13 Aug '12, 1pm
#security Users sue Bitcoin exchange over $460k in missing funds [link]
@AladinInfoSec » 13 Aug '12, 1pm
#security Users sue Bitcoin exchange over $460k in missing funds [link]
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Users sue Bitcoin exchange over $460k in missing funds [link]
@Interactive22 » 13 Aug '12, 1pm
#security Users sue Bitcoin exchange over $460k in missing funds [link]
@sxngman » 13 Aug '12, 1pm
Finextra: Users sue Bitcoin exchange over $460k in missing funds [link]