Alberta bitcoin thefts prompt security warning
Posted March 5, 2014 1:05 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Another major bitcoin breach in less than a week has one Internet security expert warning you to be very careful.
Hackers made off with $600,000 dollars worth of the digital currency in Alberta.
Bitcoin may be an attractive investment for some, but right now Richard Rosenberg with UBC say they are even more appealing to thieves.
“So people who have knowledge of the net, and there are many around the world, find the access to the money-like system very tempting. Certainly I would not dump my life savings into this… I think that would be a serious error.”
Bitcoin is also an easy target for those in the know.
“It’s not like something transferred to the net and you need special knowledge as to where it came from, this is the special knowledge that people have. I think down the road there is going to be more of this.”
The Flexcoin bank has now closed its doors saying it does not have the resources, assets, or otherwise to come back from this loss.
The closure comes just a week after the collapse of Mount Gox — a major bitcoin exchange in Japan.
