Thursday February 27, 2014

Who Stole $400 Million From Mt. Gox?

Who stole $400 million from Mt. Gox? I'll give you three guesses and the first two don't count.

According to the leaked "Crisis Strategy Draft," the thefts "went unnoticed for several years," which means the attackers had access long before price surges turned Bitcoin into a hot topic for the startup crowd. Almost from the beginning, Mt Gox's accounts were leaking money, and as the currency grew in value, the leak turned into one of the largest bank heists ever آ— more than 1 out of every 20 bitcoins in the world vanished without a trace. In a system built on technologically assured security and transparency, how could something like this happen?

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