Flexcoin and Poloniex: Security Holes Exploited in Another Hack Attack
Flexcoin 'the Bitcoin Bank' Exchange shuts down after they lost 896 bitcoins from their hot wallet by hackers on Tuesday. After suffering such a huge loss, Flexcoin announced that they will be shutting their doors. All users who held accounts there are urged to contact them to extract bitcoins from their cold storage free of charge. Users who put their coins into cold storage will be contacted by Flexcoin and asked to verify their identity. Once identified, cold storage coins will be transferred out free of charge. Cold storage coins were held offline and not within reach of the attacker.....
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US digital currency exchange Poloniex has released a new update on the customer repayment plan it implemented following the loss of 12.3% of its total bitcoins in a March attack. In a new press release, Poloniex claims 100% of the customers who experienced a financial loss have been reimbursed after a hacker or hackers reportedly exploited a vulnerability in the exchange's coding in order to steal the funds. Speaking to CoinDesk, Poloniex owner Tristan D'Agosta indicated his belief that customers have been adequately and successfully compensated for the site issues, stating: "97 BTC were....
Alberta-based bitcoin storage specialist Flexcoin has announced that it will shut down following an attack and subsequent robbery that saw cybercriminals abscond with 896 BTC (roughly $600,000 at press time) stored in the company's hot wallets. Flexcoin, which styled itself as the "first bitcoin bank", though it was not legally such an entity, took to its homepage to announce the theft and closure. The statement reads: "As Flexcoin does not have the resources, assets or otherwise to come back from this loss, we are closing our doors immediately." Flexcoin also provided the wallet addresses....
Heard of Flexcoin? Neither have we. But an alleged theft on March 2nd at this self-described 'bitcoin bank' has sparked conversation in the bitcoin community on Tuesday. All told, about 896 BTC (worth over $600,000 USD) is gone, according to a statement published on the website's homepage. The company claims to be the first bitcoin bank, a supposed 'safe' place for the store of wealth, which many are learning first-hand is not the case. The theft has damaged Flexcoin's operations, and the service will be closing right away: "As Flexcoin does not have the resources, assets, or otherwise to....
We have a problem. There is a problem with cryptocurrency, How do we police crypto? A big problem, and that problem is that many members of the general public see it as just another scam. Why do they believe this? Well, the fiasco at Mt Gox is one reason, the well publicised losses at Fortress are another, Flexcoin and Poloniex are just two more and then there are the cryptocoins they can buy on sites such as eBay, completing the transaction just days before the value drops and yet another pump and dump scheme reaches its climax. Crypto is certainly getting bad press and to be fair it does....
Bitmart, a cryptocurrency exchange, suffered an attack yesterday that exploited some security vulnerabilities in order to gain access to the funds of the exchange. The attack targeted the hot wallets of the platform, specifically the Ethereum and Binance Smart Chain-based wallets. The hackers managed to take almost $200 million in tokens from the platform.
Bitmart Hot Wallets Exploited
Bitmart has lost more than $200 million in a hack that involved its hot wallets yesterday. The issue was first identified by Peckshield, a blockchain security and auditing company, that raised the....