Latest Cryptocurrency Exchange Hack Highlights Need for Better Security Protocols

Latest Cryptocurrency Exchange Hack Highlights Need for Better Security Protocols

It comes with the territory that digital currency will be susceptible to digital threats. Hacking and theft have almost grown up side by side with things like Bitcoin, and, as the popularity and value of the digital currency rises, its attraction to thieves also grows. The most recent major hack has seen one of the top five biggest Bitcoin and Ethereum exchanges, Bithumb in South Korea, fall prey to hackers. The hack was confirmed July 5 when information, as well as hundreds of millions of South Korean won, were been made off with in an attack with a difference. Most exchanges know they....

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The Ill Wind of Bitcoin Exchange Hackings - Once Bitten, Twice Shy (Part2)

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Patrick Murck Executive Director, Bitcoin Foundation on CNN Talks About Bitstamp Hack

Patrick Murck joined Quest Means Business to discuss the security concerns over bitcoin from on Vimeo. Patrick Murck discusses on CNN the Bitstamp hot wallet hack and how exchanges are doing better despite the hack in protecting customer funds.  He also illustrates that this is not a MtGox type situation as well as how far we have come in digital security.

Could the Ashley Madison Hack Have Been Prevented With the Blockchain?

Security is an increasing concern among internet-based companies. The latest Ashley Madison hack is one example of how companies are exposed to security issues and how their users can be profoundly affected. The internet of today is far from safe, and security has come to be the main concern for companies operating on the web. So far, only one network has proven itself to be totally impervious to intrusion with today’s technology: the blockchain. The Bitcoin network uses thousands of devices connected worldwide, which automatically outruns any attack made by hackers. It offers a level of....

Digital Currency Exchange ShapeShift Claims Hack Was Inside Job

Days after disclosing that it had been the target of a hacking incident, digital currency exchange ShapeShift said it now believes the theft was an inside job. In a post on Reddit, CEO Eric Voorhees stated that the firm had suspected the hack was supported by a former employee, whose name and position was not disclosed. Voorhees wrote: "Since the investigation into the ShapeShift hack last week started, we had suspicion that someone previously on the team was involved, and that this person assisted an outside hacker. We are confident now that is is indeed the....


I really like Bitcoin. I own Bitcoins. It's a store of value, a distributed ledger. It's a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government's currency does not hold value. It's also a good investment vehicle if you have an appetite for risk. But it won't be a currency until volatility slows down.

David Marcus, Former President of PayPal