Bitcoin Prices Plummet on Hacked Exchange
- By Timothy Lee, Ars Technica
- June 19, 2011 |
- 11:39 pm |
- Categories: Hacks and Cracks
The Bitcoin community faced another crisis on Sunday afternoon as the price of the currency on the most popular exchange, Mt.Gox, fell from $17 to pennies in a matter of minutes. Trading was quickly suspended and visitors to the home page were redirected to a statement blaming the crash on a compromised user account. Mt.Gox’s Mark Karpeles said that the exchange would be taken offline to give administrators time to roll back the suspect transactions.
The extent of the compromise became clear when a copy of Mt.Gox’s user database began..
FULL ARTICLE ON WIRED... http://www.wired.com/threatlevel/2011/06/gox/
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