Chinese Bitcoin exchange Bter hacked, $1.75 million worth of cryptocurrency stolen

Feb16

by Sindy Cator on February 16, 2015 at 8:00 am

Posted In: Around the Web, bitcoin, cybersecurity, Insider

Even as Bitcoin is starting to shake things up in the US, all is not well in the cryptocurrency world. China-based Bitcoin exchange Bter was hacked on Valentine’s Day and $1.75 million worth of Bitcoin was stolen. The company hasn’t revealed much about the breach, except that 7,170 BTC was taken from its cold (offline) wallet on February 14 via a single transaction (link) and that the platform is suspending operations until further notice. The company has offered a bounty of 720 BTC – about $170,000 – for the retrieval of the stolen currency. It says it will arrange withdrawals of…