BitGo CEO Mike Belshe Believes in Bitcoin Despite Bitfinex Hack
BitGo’s Mike Belshe has said that questions raised about the security of bitcoin with some suggesting that digital currencies can never be secure are wrong. After Mt. Gox, the second biggest security breach of a bitcoin exchange took place earlier this month when the Hong Kong-based Bitfinex halted trading after hackers stole around $70 million worth of users’ bitcoins. As a result, questions about the safety of blockchain technology and the future of bitcoin quickly arose. As the company that is the leading security platform for bitcoin and blockchain technologies that was delegated to....
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BitGo has declared that its systems were not breached, and its software functioned correctly during the Bitfinex hack. Co-founder and CEO at BitGo, Mike Belshe, wrote on the company’s blog saying: Our job is to protect your Bitcoin and continue to improve the security of the service. BitGo systems were not breached in this attack and our software functioned correctly. This may seem like an inadequate explanation, because everyone wants to know “what needs to change to avoid what happened in this case,” and we understand that. Fortunately, the Bitfinex configuration was unique and other....
BitGo is a company known for its industry-leading security practices, such as its mult-signature technology. BitGo has made several partnerships due to their reputation of being able to easily secure holdings of Bitcoin, thanks to their technology. I was able to talk to Mike Belshe, the CEO at BitGo, regarding operations at BitGo and their recent announcement about partnering with Bitfinex. How are things over at BitGo currently? Things are going great! We are continuing our mission to secure the world’s Bitcoin and seeing significant progress. How are the partnerships between TradeBlock....
"With our BitGo wallet solution it becomes impossible for our users to lose their bitcoins due to us being hacked or stealing them." So wrote Bitfinex CFO Giancarlo Devasini about the bitcoin exchange's then-new multi-signature security architecture roughly a year before $60m was stolen in one of the industry's highest-profile hacks this week. While we know that multi-sig accounts were impacted by the hack (which doesn’t look good for the security feature), it's still unclear exactly how this breach occurred. Still for many it begs the question, what does this breach mean for....
BitGo announced today that co-founder Mike Belshe will replace Will O'Brien as acting CEO of the bitcoin security provider. Calling the move "the best path forward", Belshe suggested that the transition was put in place by the BitGo's remaining founders, including both himself and Ben Davenport, and that O'Brien will continue working with the company as a strategic advisor. In an interview, Belshe framed the appointment as one that would allow him to take BitGo into its "next phase" of development, while continuing his efforts to align the company toward a common vision. Belshe told....
BitGo co-founder and CEO Mike Belshe remembers when the fascination with computer engineering that began for him in childhood made its most emphatic statement and claim on his life. He had just left old warhorse Hewlett-Packard, his first job out of college, to join Internet browser pioneer Netscape as it was poised to launch its initial public stock offering in 1995. (His departure was rather too sudden to suit the sensibilities of his "HP Way" bosses, but that's another story.) Commencing to work almost non-stop through long days and nights "not because of deadlines, but because I loved....