LocalBitcoins Service Responds to Vulnerability Claims Following Reports of Missing Bitcoins
"Be advised that sellers and buyers have been reporting stolen funds from their Localbitcoins wallet all day today," posted a user on social sharing website Reddit on Thursday. With a 30-character password and two-factor authentication, the user reported losing his funds on the LocalBitcoins service - a platform that allows bitcoin buyers and sellers to trade coins for cash and vice-versa. He wasn't the only one. A number of other users reported the same issue, raising concerns that the LocalBitcoins website/platform had somehow become vulnerable to a malicious attack. The service took to....
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Editor's Note: Disable JavaScript before withdrawing your funds from LocalBitcoins.com. There have been numerous reports of funds being missing from the popular bitcoin trading website LocalBitcoins.com, the most popular of which was posted on reddit recently. None of these reports have been confirmed by LocalBitcoins staff. LocalBitcoins staff is aware of and is investigating the issue. The post on reddit suggested that this is not related to the recent heartbleed bug, as the user who reported the missing funds has changed their password since. In addition, the Redditor claims that his....
Following yesterday's statement from LocalBitcoins regarding issues with its wallet service, the website has released its follow-up investigation report. The report focused in part on claims that the site's two-factor authentication failed to prevent a wallet breach. LocalBitcoins also addressed the cause of withdrawal delays that took place as users tried to move their bitcoins away from the site following the posting of user concerns on reddit. The LocalBitcoins team wrote in the report's introduction: "LocalBitcoins team did not found any evidence of compromised site security." Report....
One of the most popular ways for users to buy and sell bitcoin has announced a change that is sure to upset German digital currency enthusiasts. LocalBitcoins.com took to their Twitter account on Monday to announce that their services will no longer be available to users in Germany. The announcement comes much to the displeasure of those reliant on the service to acquire or get rid of their bitcoins. LocalBitcoins.com has said the reason relates to "regulatory reasons," though the service didn't exactly specify which regulations were preventing them from continuing their operation in the....
The process of purchasing bitcoins on a LocalBitcoins ATM will not require an Internet connection. It seems a few arrests in Florida are not going to slow down progress over at LocalBitcoins. LocalBitcoins ATMs are now in production, and users will soon be able to make local trades without having to find a human counterparty. Their ATMs will allow anyone to buy or sell bitcoins, and the most amazing feature of these new devices might be that they don't require an Internet connection to function. Instead of connecting with your phone, the LocalBitcoins ATM will give a user a redeemable code....
LocalBitcoins users took to reddit and official LocalBitcoins forums today (17th April), reporting that some bitcoin wallets managed by the company have been emptied, and that transactions have been delayed. The Finland-based bitcoin buying and selling service has now issued an official response to these claims via its blog, stating that the problem is likely the result of a malware intrusion. In the post, LocalBitcoins announced it would limit hot wallet activity on its services while it addresses the issue. Further, it released its initial assessment of the situation: "So far, we have....