Digital Currency Exchange ShapeShift Claims Hack Was Inside Job
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....
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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....
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....
ShapeShift.io, is an instant online cryptocurrency exchange that provides instant currency exchange between many cryptocurrencies without having to open an account. This Thursday, ShapeShift.io announced it was integrating Counterparty (XCP), along with Moner (XMR) into its platform. Customers anywhere in the world will now be able to buy or sell XCP or XMR instantly with Bitcoin or over two dozen of other cryptocurrencies with the ShapeShift.io exchange platform. ShapeShift.io, was launched in August 2014, and in less than a year it has become a market leader. Shapeshift.io is now the....
Digital currency exchange ShapeShift lost as much as $230,000 in three separate thefts over the course of a month, according to an incident report prepared by the service and obtained by CoinDesk. The report comes days after ShapeShift was taken offline following a then-undetailed security incident that resulted in the loss of funds held in the exchange’s connected wallets. ShapeShift later said that it believed the theft was an inside job. According to the report, that employee stole $130,000 from ShapeShift in mid-March. The employee, who was not identified, later sold sensitive security....