Tuesday, March 4, 2014

After $620,000 theft, another Bitcoin service shuts down

In the wake of Mt Gox, a six-figure bitcoin heist has resulted in another shuttered service. This time, the service is Flexcoin, a wallet and banking service that lost 896 bitcoin to attackers, and has announced it will be unable to continue functioning after the loss. The attack emptied the service's hot wallet, where funds were kept for easy access, but the attack did not reach into the offline storage, and Flexcoin has promised to return those funds to customers as soon as possible.


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