Bitcoin Bank "Flexcoin" Looses 896 bitcoin, worth around $600,000 to theft

[jeff of pa]

Just six days after proudly proclaiming that it was unscathed by the Mt.Gox debacle, another Bitcoin bank - Flexcoin - has admitted that it will be forced to close after hackers stole 896 bitcoin, worth around $600,000, in an attack on Sunday. As The Guardian reports, the company shut its website and posted a statement on Tuesday morning detailing the loss..."as Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately."

MORE: Another Bitcoin Bank "Loses" Its Deposits | Zero Hedge

 

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[snakeyes]

I'm not quite sure I understand all I know about this bitcoin stuff. I just saw on the news here in Albuquerque a few weeks ago about a business that has a Bitcoin machine installed in their store, but they wouldn't except Bitcoins for transactions

 

[gollum]

There are only two possibilities of people that are good enough to hack bitcoin:

1. Someone closely associated with Bitcoin (even then it is difficult)

2. Government Entity. Most likely. Most governments are afraid of bitcoin hurting their economies. If the US or China put their CyberWar Divisions to work, they could easily hack into any bitcoin bank.

Mike

 

[pods]

Nice linking Zerohedge jeff, my other home on the net. A lot of information can be learned there, but it is eye opening and the comments section is a different animal. Not for the faint of heart.

 

[jeff of pa]

There are only two possibilities of people that are good enough to hack bitcoin: 1. Someone closely associated with Bitcoin (even then it is difficult) 2. Government Entity. Most likely. Most governments are afraid of bitcoin hurting their economies. If the US or China put their CyberWar Divisions to work, they could easily hack into any bitcoin bank. Mike

Yes My thought too. since the FBI & IRS can't hack in & find the owners names,
they may be dismantling the whole program bank by bank to run them out of business

any copy cats will then beg for Federal Backing, & you know where that leads