Hackers steal over $12,000 of Bitcoins from transaction broker Bitinstant


Online institutions of all types are vulnerable to hacking, and Bitcoin is no exception: last week, hackers stole over $ 12,000 worth of Bitcoin currency from Bitinstant, one of the bigger Bitcoin transaction sites. As with many recent hacks, the Bitcoin theft was executed thanks to a bit of social engineering. According to the Bitinstant blog, the attacker went to the company’s domain registrar posing as a Bitinstant employee — the attacker had a similar enough email address and knowledge of the employee’s date of birth and mother’s maiden name. From there, the attacker convinced the domain registrar to make the fake email address the default and to reset the account’s password.

Once the attacker had access to the Bitinstant domain,…

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