19 March 2014

Canadian Bitcoin Exchange Loses $100,000 in Unorthodox Attack

Ontario-based bitcoin buying and selling service Canadian Bitcoins has revealed that it was the victim of an unusual attack last October that resulted in the loss of 149.94 BTC ($100,000).


The Ottawa Citizen reports that an unidentified scammer contacted a technical support agent at its now former web hosting service, Granite Networks, claiming to be owner James Grant. Using only the owner’s name, the thief was allegedly able to have the site reboot into recovery mode, allowing him to bypass all protections on the server.


The media outlet indicates that it has obtained a text copy of the chat transcript, and that the results are particularly damning for Granite Networks.


Continue reading at CoinDesk


March 20, 2014 at 03:13AM