Bitcoin Exchange Flexcoin Wiped Out By Theft

[DEAD7]

mrspoonsi writes "Joining MtGox, Flexcoin today announced they have had their vault wiped out, to the tune of some 896 BTC (about $615,000) by hackers. 'On March 2nd 2014 Flexcoin was attacked and robbed of all coins in the hot wallet. The attacker made off with 896 BTC, dividing them into these two addresses: 1NDkevapt4SWYFEmquCDBSf7DLMTNVggdu [and] 1QFcC5JitGwpFKqRDd9QNH3eGN56dCNgy6. As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately.'"

 

[DEAD7]

Bitcoin out here takin heavy losses

 

[-DMP-]

welp there goes that slight rebound.

-DMP-

 

[Julius Skrrvin]

Claim to have theftproofed bitcoin brehs

 

[Vandelay]

lol

 

[The Real]

Claim to have theftproofed bitcoin brehs

I think the real issue here is how obviously unsafe this unregulated environment is, and how certain supporters of bitcoin can't bring themselves to admit it. That's the price you have to pay.

 

[DEAD7]

I think the real issue here is how obviously unsafe this unregulated environment is, and how certain supporters of bitcoin can't bring themselves to admit it. That's the price you have to pay.

They prefer the risk.

 

[The Real]

They prefer the risk.

Yeah. We'll see how long that lasts, though. Either it will go under or internal regulation will emerge.

 

[88m3]

Yeah. We'll see how long that lasts, though. Either it will go under or internal regulation will emerge.

Theft is the truest form of the free market though?

 

[DEAD7]

Yeah. We'll see how long that lasts, though. Either it will go under or internal regulation will emerge.

funny how that sort of thing can happen on its own if needed huh?

 

[DEAD7]

Theft is the truest form of the free market though?

 

[Vandelay]

Wouldn't it be wild if these recent hacking attacks were just government sanctioned to destroy the credibility of the currency.

 

[DEAD7]

Wouldn't it be wild if these recent hacking attacks were just government sanctioned to destroy the credibility of the currency.

That's the main reason I got out early. I am a firm believer in the tyranny of the state, and knew they would never let bitcoin flourish.

 

[Vandelay]

That's the main reason I got out early. I am a firm believer in the tyranny of the state, and knew they would never let bitcoin flourish.

I thought about getting into it, just to have some; but its too volatile for me. And ultimately I think what you are saying will hold true.

For better or worse, it will probably be relegated to being strictly a black market currency with little value to organized society.

Might come in handy however as everyone becomes apart of the digital dragnet and you want to go "off the radar".

 

[Vandelay]

I'm getting no work done today...