Friday, December 6, 2013
Still No Clues In The Million Dollar Bitcoin Heist
Late November 2013, thieves stole more than US $1 million in Bitcoins from Danish Bitcoin exchange and online wallet service BIPS. The company was first attacked on 15 and 17 November through a distributed denial-of-service (DDoS) attack that appears to have laid the groundwork for a subsequent attack that disabled BIPS security systems. According to the company, the initial DDoS attacks were "found to originate from Russia and neighboring countries." This facilitated the theft of the Bitcoins. Two other significant Bitcoin thefts have occurred recently, an Australian online wallet service lost US $1.4 million in Bitcoins, and a Chinese exchange lost more than $4 million. The US Senate is now attmpting to legislate Bitcoin.