BTER Hacked, NXT PoS at work

BTER Hacked, NXT PoS at work

Cryptocurrency exchange BTER was hacked yesterday and a significant quantity of funds stolen, including 51 million NXT (then worth $1.7m). NXT was the number one currency exchanged on this platform. This is by far the largest hack that has ever happened in NXT’s history. Although it was entirely down to BTER’s lack of security, NXT as an economic system has started bleeding. Indeed, the hack concerns over 5% of the total money supply and, notwithstanding the moral issue of a hacker potentially getting away with such a crime, this leaves the NXT community with four problems to face: That is....


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Quotes

If it gets very popular, I can see the government clamping down. I think it would lead to a massive drop off in the number of users.

Alistair Cotton, Senior analyst with Currencies Direct