$250K Worth of Bitcoins Stolen from Bitfloor via Server Breach

(Ping! Zine Web Tech Magazine) – Virtual golden coins recently caught the eye of Internet thieves as hackers stole $250 thousand worth of Bitcoin currency during a server breach of the website bitfloor.com, according to a report from the BBC on Wednesday.

At issue allowing for the hack were un-encryption standards, a common protocol failure for sites facing the wrath of online attackers.

“This attack took the vast majority of the coins BitFloor was holding on hand. As a result, I have paused all exchange operations. Even tho only a small majority of the coins are ever in use at any time, I felt it inappropriate to continue operating not having the capability to cover all account balances for BTC at the time,” commented site founder Roman Shtylman in a post via bitcointalk.org.

Responding to the breach, Bitfloor took its site offline, posting simple text on its front page that asked users not to “deposit additional funds” to their accounts. Meanwhile, Bitfloor’s future could be in doubt, with the owner saying he’s “evaluating options” considering just how serious the breach was.

Despite the stolen bitcoins, no user account information was lost. Bitcoins are commonly used via online trades and transactions, relying on cryptographic means for verification purposes.

Advertisement