BitCoin Hacked

  • Poly
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Post 3+ Months Ago

So for those who haven't seen this in the news, BitCoin/MyBitCoin was recently "hacked". It was not hacked in the traditional sense, however the hacker did end up getting away with about 50% of the money BitCoin was holding. As a result BitCoin is shutting down after they allow users to file a claim on the money they had. Users will only receive 49% of what they had in BitCoin. This hack, along with others in the online finance world recently has brought up a lot of security questions relating to the safety of online banking in all forms. Its a big concern for businesses that process a lot of transactions online as well. Our company processes around 95% of the transactions for one of our games through PayPal and at any one time have a significant amount of money in PayPal waiting to be transferred. We've started to look at alternatives but the amount of money it would cost in setup and maintain it is staggering.

I have recently completely stopped all of my online banking, and have requested it be switched off. I've also closed out all my accounts except PayPal for online payment processors. I have heard of others doing the same, and with the Anti-Sec movement going on right now I think its the wise thing to do. I have also started using a password bank app I wrote to store all my passwords in an encrypted file, and transfer them to the password box with a click of a button, instead of typing them(to avoid keyloggers). Unfortunately this doesn't protect against bad code or non SSL sites, but it does help some.

Link to BitCoin article: LINK
  • Zealous
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Post 3+ Months Ago

Internet security is just insane these days as in everyone in the corporate world has finally got the memo about if you don't secure your *plum* it is public property but after soo many years they have ignored the problem as we laugh at them but now that a lot of money has gone missing they are finally doing something about it. This is the time to own a security firm as business would be booming over the next few years.

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