Crypto Exchange Service ShapeShift Offline After Hack
Digital currency exchange service ShapeShift is offline after a security incident earlier this week. A statement posted to Reddit by ShapeShift CEO Eric Voorhees offered more details as to why the site was taken offline, indicating an unknown quantity of funds had been taken from the service’s connected wallets. Customers with pending orders would receive their money within 24 hours, the company said. Voorhees wrote: "Yesterday afternoon, we noticed several pieces of evidence indicating our server infrastructure was compromised and threatened. We made the decision to scrap that....
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Following the temporary closure of trading and the subsequent downtime of the website in its entirety, bitcoin and digital currency exchange ShapeShift has now revealed that the instigating hack stemmed from an insider who previously worked with the exchange. In a new Reddit post that followed a steady, transparent cycle of updates from the time of the initial hack, CEO Eric Voorhees revealed details of the exchange’s investigation. The exchange had suspected that the hack was an insider’s job, a former employee who isn’t with the exchange anymore. The chief executive revealed: Since the....
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 case." The exchange....
What’s new this week with cryptocurrency? It seems like virtual finance just can’t escape the spotlight, and no matter where you look, there’s always something going on. ShapeShift found itself in the spotlight this week, experiencing a hot wallet hack. Things started out ugly when the digital currency exchange ShapeShift experienced a hot wallet theft that caused a temporary closure of its website’s current trading system. Cyber-attacks are nothing new when it comes to bitcoin, but ShapeShift is now claiming the hack came by way of an insider.
Instant multi-currency exchange ShapeShift was the victim of a security breach led by a previous team member, company CEO Erik Voorhees has revealed. Posting an update on ShapeShift’s homepage, which has been offline since the breach was discovered on April 7, Voorhees wrote: Since the investigation into the ShapeShift hack last week started, we had....
Following a distributed denial-of-service (DDoS) attack that targeted its server yesterday, European bitcoin exchange operator BTC-e continues to be offline. Bitcoin and alt.coins exchange BTC-e was knocked offline for several erratic hours yesterday. Users took to social media to speculate the reasons for the cause of the attacks with some stating that BTC-e was hacked, rather than being the target of a DDoS attack. In providing some clarity with the situation, the exchange’s Twitter account revealed: Furthermore, concerns raised from whispers of a hack seem to be unfounded with no real....