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Hacked Bitcoin Financial Site Had No Backups
An anonymous reader writes "A fortnight ago the Bitcoin financial website Bitcoinica was hacked and the hacker stole $87,000 worth of Bitcoins. At the time the owner promised that all users would have their Bitcoins and US dollars returned in full, but one of the site developers has just confirmed that they have no database backups and are having difficulty figuring out what everyone's account balance should actually be. A failure of epic proportions for a site holding such large amounts of money."
How are situations like this still happening?
I think 17 year olds running online currency exchanges is a fairly recent phenomenon.
Right on; say what you want, at least Bitcoins don't change in value.