Bitcoin Lender BTCJam Reports No Customer Funds Lost in Hack
BTCJam has suffered an apparent security breach that affected an unknown number of users. The peer-to-peer lender was quick to reassure its clients that no bitcoins had been lost from their accounts. A spokesperson said the incident was the result of a hack at its email provider, which allowed the attacker to access funds belonging to customers with low security settings. BTCJam started experiencing some issues over the weekend and was offline on Sunday. We are offline to resolve some technical issues with logging in. We would like to assure you that no Bitcions were lost in this process.....
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BTCJam is a peer-to-peer bitcoin lending platform that has seen some successful bitcoin businesses born from its womb. Last night, reports started surfacing on Reddit that the site had gone down and immediately previous to that, some users saw their accounts emptied. The site has since been restored and the CEO has stated emphatically that no users will lose their coins. The CEO also has not confirmed this as a hack, noting only that they noticed some “invalid transactions[.]” He also stated that BTCJam keeps the vast majority of their holdings in cold storage. We are offline to resolve....
San Francisco-based startup BTCJam is taking peer-to-peer lending to a global audience, and is using bitcoin to achieve its vision. Bypassing the restrictions of fiat currencies, the company says, allows any individual in the world to receive a loan via its platform. While traditional wire transfers are costly and not always easy to set up, bitcoin allows approved BTCJam borrowers to receive funds almost instantly, wherever they may live and whether or not they have a bank account. Celso Pitta, the company's CEO, told CoinDesk: "We are a global lending platform. We use bitcoin as a payment....
The Singapore-based crypto lender has lost close to $190 million, as per reports, due to its exposure to Terra’s algorithmic stablecoin UST. The crypto lender platform had downplayed its exposure to Terra’s stablecoin UST despite the fact that it had suffered a huge loss from the recent wipe-out. This report has been found by interim […]
Peer-to-peer bitcoin marketplace LocalBitcoins suffered a hack this week that resulted in the distribution of malware and a loss of customer funds. Affected users will be granted refunds after taking steps to address security vulnerabilities, according to the company. LocalBitcoins vice president Nikolaus Kangas acknowledged the hack on 27th January in a forum post, outlining how the intrusion took place through its LiveChat account, with an estimated 17 BTC lost from customer wallets. The bitcoin marketplace has experienced security-related problems before, including an incident last year....
Last week’s Bitfinex hack, in which Bitcoin’s leading exchange lost almost 120,000 bitcoins valued some $70 million USD at the time, represented a depressing realization for the Bitcoin community. Where many had hoped that multi-million dollar hacks and loss of customers funds were a thing of the past, it became clear that storing bitcoins on an exchange is still not as secure as it perhaps should be. In an industry first, Bitfinex imposed an Extraordinary Loss Adjustment on all customer funds; re-opening balances this week show a cut of about 36 percent per account. But the hack also....