28 Aug '12, 8pm

"Pirateat40" Makes Off $5.6M USD in BitCoins From Pyramid Scheme #bitcoin

"Pirateat40" Makes Off $5.6M USD in BitCoins From Pyramid Scheme #bitcoin

everyone's favorite quasi-legal internet currency , are still lingering around thanks to strong support from the hacker, future, and technopunk communities. Prices remain off their record highs , but at $10.97 USD per Bitcoin at last count [source ], the currency has legitimate value. The first rule of Bitcoins is to guard your digital treasure wisely. After all, the currency is denationalized, and has no central governmental regulators (though blatant fraud attempts are combatted by the community). Bitcoins are oft stolen from those who don't strongly encrypt their wallets. Thus most experienced Bitcoin users exercise a healthy degree of caution when storing and spending their hard-earned digital cash. That makes the strange and sordid tale of the Bitcoin Savings & Trust and its originator "pirate40" all the odder. Apparently, a number of Bitcoin users were lured to inves...

Full article: http://www.dailytech.com/Pirateat40+Makes+Off+56M+USD+in+...

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