Monday, May 14, 2012

Hackers break into bitcoin exchange, steal $90,000 in bitcoins

Bitcoin exchange suspended its Bitcoinica site operations after hackers managed to steal 18,547 bitcoins -- valued at about $90,000 -- from its online wallet.

Image source: FreeFoto
Security breaches at bitcoin exchanges don't only affect the users of those exchanges, but the entire bitcoin community, because they negatively affect the value of the virtual currency.

The compromised user information can be used to launch phishing attacks against banking and credit union customers, as has happened in the past after many data breaches that exposed user email addresses.

The article suggests Bitcoin exchanges need code reviews, vulnerability assessments and Web application firewalls. How does your security stack up? Read more to see if you've missed a key security element.

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