Cyberthieves loot $65m worth of bitcoins in Hong Kong

This is exactly why you don’t want a cashless society. It’s not only hackers you have to worry about, but corrupt governments who can wipe away your entire life savings on command if you don’t fall in line with the regime.


HONG KONG — A major bitcoin exchange headquartered here reported Wednesday that roughly $65 million worth of the virtual currency had been stolen from client accounts by hackers.

After Bitfinex made the announcement, the bitcoin exchange rate against the dollar plunged more than 20% at one point.

Bitfinex is the world’s largest exchange in dollar-denominated bitcoins. The firm halted all trading indefinitely and is cooperating with authorities in identifying affected accounts and tracking down the cause of the security breach. It is not known whether the theft was an inside job or committed by outsiders.

Full article: Cyberthieves loot $65m worth of bitcoins in Hong Kong (Nikkei Asian Review)

Comments are closed.