$2 Million in Bitcoin Stolen
Posted by: Timothy Weaver on 05/25/2016 10:52 AM
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Cybercriminals have made off with $2 million worth of Bitcoin as well as the Japanese cyber currency Ethere. Ethere is a Bitcoin rival traded on the Hong Kong-based digital exchange and trading platform Gatecoin.
Officials said that the breach was discovered on May 12th and that it was probably done between May 9-12 when there was a server reboot.
Aurélien Menant, Gatecoin CEO, said: “The malicious external party involved in this breach, managed to alter our system so that ETH and BTC deposit transfers by-passed the multi-sig cold storage and went directly to the hot wallet during the breach period."
The company said that it is trying to raise additional funds to cover the loss and have announced a bounty and lifetime free trading on the exchange for the return of the stolen funds.
Source: SCMagazine
Officials said that the breach was discovered on May 12th and that it was probably done between May 9-12 when there was a server reboot. Aurélien Menant, Gatecoin CEO, said: “The malicious external party involved in this breach, managed to alter our system so that ETH and BTC deposit transfers by-passed the multi-sig cold storage and went directly to the hot wallet during the breach period."
The company said that it is trying to raise additional funds to cover the loss and have announced a bounty and lifetime free trading on the exchange for the return of the stolen funds.
Source: SCMagazine
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