Self-Described Bitcoin Bank Flexcoin Robbed of 896 BTC
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....
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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....
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.....
The trader exchanged 15 bitcoin for HK$3 million before being robbed of both.
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People are robbed all the time for all kinds of things. Their expensive watches, cell phones, wallets, you name it. It's only now and then that people are robbed of their bitcoins, and usually this happens through hacking or some other digital means. Not so in the case of a young man who, for whatever reason, decided to sell $1,100 worth (roughly four and change at current rates) via Craigslist. According to CNBC, an unidentified man showed up to the designated meeting place in Crown Heights, Brooklyn, and soon found himself at the wrong end of two pistols. It was a classic Craigslist....