Bitpay Suffers $2 Million Dollar Loss
Posted by: Timothy Weaver on 09/28/2015 09:48 AM
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Troubles continue for the beleaguered BitPay.
Employees are being laid off after the company suffered a loss of nearly $2 million worth of Bitcoins. In December 2014, BitPay’s chief financial officer, Bryan Krohn, was tricked by a hacker into sending $1.8 million to a hacker.
According to the lawsuit filed in September, "After capturing Mr. Krohn's Bitpay credentials, the hacker used that information to hack into Mr. Krohn's Bitpay email account to fraudulently cause a transfer of bitcoin" valued at $1,850,000.
After the company filed suit, rumors have it that it has laid off much of its staff. If BitPay continues to be problematic, this could be a problem for Bitcoin, as BitPay is one of the leading companies onboarding new merchants to the decentralized digital currency.
Source: Cryptocoins news
Employees are being laid off after the company suffered a loss of nearly $2 million worth of Bitcoins. In December 2014, BitPay’s chief financial officer, Bryan Krohn, was tricked by a hacker into sending $1.8 million to a hacker.According to the lawsuit filed in September, "After capturing Mr. Krohn's Bitpay credentials, the hacker used that information to hack into Mr. Krohn's Bitpay email account to fraudulently cause a transfer of bitcoin" valued at $1,850,000.
After the company filed suit, rumors have it that it has laid off much of its staff. If BitPay continues to be problematic, this could be a problem for Bitcoin, as BitPay is one of the leading companies onboarding new merchants to the decentralized digital currency.
Source: Cryptocoins news
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