30 Aug '16, 7am

Cyber Threat Grows for Bitcoin Exchanges: This rising risk for Bitcoin holders is compounded by the fact ther...

Cyber Threat Grows for Bitcoin Exchanges: This rising risk for Bitcoin holders is compounded by the fact ther...

When hackers penetrated a secure authentication system at a Bitcoin exchange called Bitfinex earlier this month , they stole about $65 million (roughly Rs. 435 crores) worth of the virtual currency. The cyber theft - the second largest by an exchange since hackers took roughly $350 million (roughly Rs. 2,348 crores) in Bitcoins at Tokyo's Mt.Gox exchange in early 2014 - is hardly a rare occurrence in the emerging world of cryptocurrencies. New data disclosed to Reuters shows a third of Bitcoin trading platforms have been hacked, and nearly half have closed in the half dozen years since they burst on the scene. This rising risk for Bitcoin holders is compounded by the fact there is no depositor's insurance to absorb the loss, even though many exchanges act like virtual banks. Not only does that approach cast the cyber-security risk in stark relief, but it also exposes the f...

Full article: http://gadgets.ndtv.com/internet/news/cyber-threat-grows-...

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Cyber threat grows for bitcoin exchanges

reuters.com 29 Aug '16, 11am

By Gertrude Chavez-Dreyfuss | NEW YORK NEW YORK When hackers penetrated a secure authentication system at a bitcoin exchan...

Cyber threat grows for bitcoin exchanges

reuters.com 29 Aug '16, 11am

By Gertrude Chavez-Dreyfuss | NEW YORK NEW YORK When hackers penetrated a secure authentication system at a bitcoin exchan...

Cyber threat grows for bitcoin exchanges

reuters.com 29 Aug '16, 11am

By Gertrude Chavez-Dreyfuss | NEW YORK NEW YORK When hackers penetrated a secure authentication system at a bitcoin exchan...

Cyber threat grows for bitcoin exchanges

reuters.com 29 Aug '16, 11am

By Gertrude Chavez-Dreyfuss | NEW YORK NEW YORK When hackers penetrated a secure authentication system at a bitcoin exchan...

via @qz

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@Cointelegraph

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