Hackers Steal $1.75 Million In Bitcoin

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The most popular Chinese Bitcoin exchange BTER has been recently hacked on Feb 14 2015 and have lost more than £1.1 Million-worth ($1.75 Million; one BTC is about $270) of the digital currency.However no details hasn’t revealed about the suspects who hacked it.

“All wallets have been shut down and withdrawals of unaffected coins will be arranged later,” the official website of BTER Bitcoin exchange states.

Internet sleuths are already on the hunt to trace the missing Bitcoin. Because of the way the digital currency works, it is possible to trace any transaction or funds easily by using public available service, called “blockchain”.The bitcoins appear to have been split into a number of separate wallets since the alleged intrusion.

According to the announcement, the stolen Bitcoin cryptocurrencies were broadcast through the transaction given below:

https://blockchain.info/tx/f5b0363f03e1ed8bb812c135361ea93590c831ce9f13a3750be1b93575baccc6

The Bitcoin Exchange has also not revealed, how the cold wallets were compromised, except that 7,170 Bitcoin cryptocurrency was stolen from the company’s cold wallets. Cold wallets are a way of storing the digital currency offline.The BTER Bitcoin Exchange is now offering a bounty of 720 BTC – roughly $170,000 – to whoever can retrieve the stolen currency back

This is the second major Bitcoin hack in past two months. Bitstamp based in UK was hacked at the beginning of this new year.

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William Fieldhouse

I currently work full time as a penetration tester and have been involved within the IT security industry for over a decade. I also love to pioneer any forms of new technology and ideologies for future advancements. Feel free to contact me at [email protected]

William Fieldhouse

I currently work full time as a penetration tester and have been involved within the IT security industry for over a decade. I also love to pioneer any forms of new technology and ideologies for future advancements. Feel free to contact me at [email protected]

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