Canadian Bitcoin Bank Blames Hacker Attack For Its Demise

Law360, Chicago (March 06, 2014, 2:05 PM ET) -- Just days after leading bitcoin exchange Mt. Gox filed for bankruptcy, Canada-based bitcoin bank Flexcoin shut its virtual doors Monday, blaming hackers for the theft of most of its bitcoins.

In a statement posted on its website, Flexcoin said that the intruder made off with 896 bit coins in the Sunday attack, which would be worth almost $570,000 based on Thursday’s exchange rate.

“As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately,” the...
To view the full article, register now.