Bitcoin Exchange Shapeshift Server Breach Leads To Down Time
In yet another attack on an online cryptocurrency exchange, Shapeshift.io went down for a couple days while they dealt with some malicious intrusion into their server, assessing the damage and keeping their customer base aware of the status the entire time. Within a day of knowing that something wasn’t right with their servers, Shift.io immediately shut down trading and their website and notified customers via a Reddit post. In the post on Reddit, Shapeshift.io’s CEO Erik Voorhees stated that not a cent of customer money went missing during the attack, which was luckily a product of....
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The recent Shapeshift security breach may have been an inside job, says Eric Voorhees. Shapeshift.io, the cryptocurrency exchange was recently faced with a security breach, forcing it to temporarily suspend its operations. The security breach on April 7, 2016, had compromised the platform’s server infrastructure which threatened the fate of future transactions on it. In order to fix the system and be sure that nothing is amiss, the company decided to replace the server infrastructure instead of fixing the issues on the existing setup. In order to completely revamp the platform’s backend....
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....
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.
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....
ShapeShift has recently announced that Michael Perklin has joined the team as Chief Information Security Officer. Cointelegraph has caught up Michael Perklin and Erik Voorhees, CEO and Founder of ShapeShift, on their way from Satoshi Roundtable and asked to elaborate on some key security concerns that come with Blockchain technology. Coming back stronger. Unfortunately, hacks are still inevitable, and ShapeShift suffered a breach in April 2016. A significant sum from the company’s hot wallet was stolen but not a cent of customer funds was lost, stated Erik Voorhees, the company’s CEO the....