ShapeShift Lost $230k in String of Thefts, Report Finds
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....
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The ShapeShift.io bitcoin exchange expects to be back online soon after rebuilding its infrastructure on account of hot wallet thefts, according to a Reddit post by Erik Voorhees, company CEO. Shapeshift’s website currently states it is upgrading its infrastructure and will be down for a few days. A Reddit post noted that the company decided to scrap its infrastructure and build a new and safe environment. “By design, ShapeShift doesn’t hold customer balances, so even in the case of a security breach, there is no customer money at risk,” Voorhees noted in a Reddit post. “However, a portion....
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....
Andreessen Horowitz-backed bitcoin wallet provider Coinbase confirmed via a company blog post on 7th February that "a small handful" of its customers have fallen victim to phishing attacks. The reports of bitcoin wallet security vulnerabilities, however small, have nonetheless reverberated widely in an industry that is being increasingly cast in a shroud of uncertainty by the mainstream media. A separate account of the incidents by online news source The Verge paints a very different picture of the situation, suggesting that the thefts, while in some cases the fault of Coinbase's users,....
Bitcoin, as any system of man, exhibits together both the highest ideals of utopia, and the lowest residual trash of society. This is the story of how ShapeShift, a leading blockchain asset exchange platform, was betrayed. Not once, not twice, but three times in less than a month. In total, nearly two-hundred thousand dollars in cryptocurrency was stolen....
CCN received the following press release this morning from ShapeShift.io: SWITZERLAND, April 1, 2015 - ShapeShift.io has integrated Winklecoin (WNK), into its instant exchange platform. Customers anywhere in the world can now buy or sell WNK instantly with Bitcoin or over two dozen other leading cryptocurrencies with ShapeShift.io. Winklecoin, masterminded by Olympic rowers and internet entrepreneurs Cameron and Tyler Winklevoss, is now available for exchange in increments of two.