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Bitcoins Worth $87,000 Plundered in Brazen Server Breach

http://arstechnica.com/uncategorized/2012/05/bitcoins-worth-...

More than $87,000 worth of the virtual currency known as Bitcoin was stolen after online bandits penetrated servers belonging to Bitcoinica, prompting its operators to temporarily shutter the trading platform to contain the damage.

Friday's theft came after hackers accessed Bitcoinica's production servers and depleted its online wallet of 18,547 BTC, as individual Bitcoin units are called, company officials said in a blog post published on Friday. It said the heist affected only a small fraction of Bitcoinica's overall bitcoin deposits and that all withdrawal requests will be honored once the platform reopens.

It was at least the second time in 10 weeks Bitcoinica has been stung by a computer intrusion that has cost it dearly. In early March, a security lapse at cloud services provider Linode allowed hackers to make off with about $210,000 worth of bitcoin after they gained unauthorized access to bitcoin wallets stored by Bitcoinica and seven other customers. Last June, an anonymous person claimed to have lost $500,000 worth of bitcoin to online thieves, but the claims were never independently verified.

http://arstechnica.com/uncategorized/2012/05/bitcoins-worth-...

Too bad they didn't plunder the whole sever and make it go poof.
(yeah the article is from last month but just wanted to slap the bitcoin promoters here a little since it never made it here to my knowledge)

Real secure site,hacked through their mail server.What a bunch of amateurs.

https://www.bitcoinica.com/

"So, what are we going to do about it?

We are choosing to leave Bitcoinica offline until such time as a new platform can be built and tested with security best-practices built-in from scratch. We do not yet have a firm estimate for availability but it will most probably be measured in months."

I bet they shut down and do not resurface.



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"I bet they shut down and do not resurface."

Can I take that bet?

I know what happened at Bitcoinica (not Bitcoin). They will be back.

“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”

So, someone broke into a

So, someone broke into a storage facility and stole an item that people use to exchange value. This makes the exchange item worthless. Or does this show that the item has value because someone is willing to expend effort to acquire it.

I'm pretty sure gold and silver have been stolen. Does that make gold and silver worthless as currency.

Bitcoin has value because people are willing to accept it has payment for goods and services.

KAF

i bet it was hacked my some

i bet it was hacked my some guys hired by banksters to crush the new trading method.

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Dear clueless one

It was not a design flaw

ohhhhh MR knowitall never

ohhhhh MR knowitall never knew you had inside info on it!

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▂▄▅█████████▅▄▃▂
Il███████████████████].
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what particularly angers me

Was the concerted effort from the promoters to target liberty groups like dailypaul - ronpaulforums - schiff - kokesh and other podcasts and radio preying on the lure and the illusion of an alternative to the usd.

It was grassrootsy and hyptnotic.

These hackers are criminals but have done a huge service in exposing technology for what it is.

Hacked when BTC = $5 dollars. Now it went up?

Bitcoinica not Bitcoin was Hacked.
I'm really into Bitcoin and I did not have any money at the Bitcoinica service.
when it was hacked, BTC equaled $5 dollars. I was still buying even after the hack. Now the value is at $6.00. Overpriced in my opionion so I'm not buying, but it's not a con.

“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”

So, your logic seems to be

that if a currency has been stolen in any amount, that currency is worthless? Sure you want to stick to that position? Its pretty exposed...

Yeah it was worthless from the start

in many ways. Most here know what real money is and actually hold it.
You know gold and silver. How can anything as idiotic as units on the internet ever be reliable or tradeable for anything tangible in the real world.They've been hacked multiple times. Try hacking my stash and see what it gets you.And if you think the internet will be around in it's current form in 4 years if Ron isn't elected you are dreaming. The only thing you will be able to count on is how prepared you are to acquire food,water and shelter.

Bitcoins=Worthless Pipedream.

November 6th 2012 I voted for Dr.Ron Paul
"We must remember, elections are short-term efforts. Revolutions are long-term projects." ~ Ron Paul