Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse

Bitcoin exchange floored in virtual bank robbery – $250,000 stolen in security lapse | Naked Security

nakedsecurity.sophos.com 06 Sep '12, 2am

Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse

Bitcoin is a an open-source, peer-to-peer digital cash system launched in 2009. The Bitcoin "currency" has no physical manifestation - there are no banknotes, metal coins, or promissory notes signed with a flourish. You "mine" Bitcoins synthetically by solving a cryptographic problem. You then imbue these these cryptographic tokens with value and exchange them, and their assumed value, using a mostly-anonymous cryptographic protocol . By design, the cryptographic problem you need to solve to mint a Bitcoin gets exponentially harder over time, because computers get faster. This also has the effect of limiting the total number of Bitcoins that can ever be created. By the early 2030s, we'll be close to the asymptotic maximum of about 21 million Bitcoins. Forget regulations, forget Central Banks, and forget Her Majesty's Treasuries. Given enough computing power and electricity...

Full article: http://nakedsecurity.sophos.com/2012/09/06/bitcoin-exchan...

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@NickMorganAU » 24 Sep '12, 7am
I like this quote "Anything worth encrypting is worth encrypting always." Following bitfloor pwnage this rings true! [link]
@mgusek555 » 10 Sep '12, 4pm
NOTHING is infallible. Bitcoin exchange floored in virtual bank robbery [link]
@0xjudd » 08 Sep '12, 3pm
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] <~ unencrypted backup #fail
@taylorbanks » 07 Sep '12, 1am
RT @Nientenomi, @iCyberFighter: #Bitcoin exchange dropped following a virtual robbery - $250,000 worth of coin stolen [link]
@REMarks2 » 07 Sep '12, 12am
RT @mezcal1323: [link] leave tje #Bitcoins alone!
@mezcal1323 » 07 Sep '12, 12am
[link] leave tje #Bitcoins alone!
@Nientenomi » 06 Sep '12, 9pm
RT @iCyberFighter: #Bitcoin exchange dropped following a virtual robbery - $250,000-worth of coin was stolen: [link]
@ChristianStriok » 06 Sep '12, 9pm
ouch: [link]
@iCyberFighter » 06 Sep '12, 8pm
#Bitcoin exchange dropped following a virtual robbery - $250,000-worth of coin was stolen: [link]
@Bug2Hunt » 06 Sep '12, 8pm
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: "Bitcoin is a an open-sour... [link]
@applejuice_tech » 06 Sep '12, 2pm
An unencrypted backup? C'mon! Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link]
@ToddKincannon » 06 Sep '12, 11am
Haha! RT @SophosLabs Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse - [link]
@jmaartenson » 06 Sep '12, 9am
"Anything worth encrypting is worth encrypting always." #security [link]
@InternetTechSec » 06 Sep '12, 8am
BY Naked Security: Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: Bitfloo... [link]
@themayorpete » 06 Sep '12, 8am
RT @samj: Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] <- time for grown ...
@johnpilgrim » 06 Sep '12, 8am
RT @gcluley: Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link]
@samj » 06 Sep '12, 8am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] <- time for grown ups to step in?
@lferette » 06 Sep '12, 7am
"Security is a full-time job" - illustration on @NakedSecurity: [link]
@qlontz » 06 Sep '12, 6am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] via @zite
@ludorocknroll » 06 Sep '12, 6am
250,000$ Dérobé à Bitcoin, la banque virtuelle Open-source en P2P [link]
@ludorocknroll » 06 Sep '12, 6am
250,000$ Dérobé à Bitcoin, la banque virtuelle Open-srouce en P2P [link]
@isleofmandan » 06 Sep '12, 5am
RT @yo9fah: Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link]
@barnet2010 » 06 Sep '12, 4am
Bitcoin exchange floored in virtual bank robbery - $250,000 stol ... [link]
@MattTaylor » 06 Sep '12, 4am
Virtual bank robberies y'all [link]
@antivirusblog » 06 Sep '12, 4am
Unencrypted backup ?!??!? [link]
@CyberSecMatters » 06 Sep '12, 4am
Bitfloor, the fourth-largest Bitcoin-to-US$ exchange, recently imploded following a security breach. The cause ... [link]
@YourITsecurity » 06 Sep '12, 3am
#ITSecurity: Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link]
@sophos_anz » 06 Sep '12, 2am
RT @duckblog: Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse - [link]
@SecMash » 06 Sep '12, 2am
#InfoSec Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] #CyberSecurity
@UndoIDTheft » 06 Sep '12, 2am
#Security Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: B... [link] #Sophos #Fraud
@securitydigest » 06 Sep '12, 2am
#security Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: Bitfloor, the fo... [link]
@InfosecNewsBot » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] #infosec
@Xc0resecurity » 06 Sep '12, 2am
#xc0resecurity Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security ... [link] #security #netsec
@Flavio58 » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: Bitfloor, the fourth-large... [link]
@mooreak » 06 Sep '12, 2am
RT @NakedSecurity: Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link]
@duckblog » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse - [link]
@scipblogbot » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link]
@NakedSecurity » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link]
@MyMindSecure » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: Bitfloor, the fourth-large... [link]
@InfotechNews_ » 06 Sep '12, 2am
#Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] [SOPHOS]
@CyberExaminer » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] #infosec
@Eric_Montgomery » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] via @nakedsecurity
@BWIZZ75 » 06 Sep '12, 2am
[nakedsecurity] Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: Bitfloor, ... [link]
@anditttt » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] via @NakedSecurity
@robbiecee2 » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link]
@Insecurestuff » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: Bitfloor, the fourth-large... [link]
@myKKGconsulting » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: Bitfloor, the fourth-large... [link]
@techionary » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] via @sophoslabs
@cheiron123 » 06 Sep '12, 2am
[NakedSecurity] Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse: Bitfloor, ... [link]
@Nattl » 06 Sep '12, 2am
Bitcoin exchange floored in virtual bank robbery - $250,000 stolen in security lapse [link] #security