Canadian Bitcoin Bank Blames Hacker Attack For Its Demise

Law360, Chicago (March 6, 2014, 2:05 PM EST) -- 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...
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