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Bitcoin Exchange BitFloor Says It Will Replace Stolen Coins

Posted by timothy on from the fdic-never-replaces-bitcoins dept.

angry tapir writes "Bitcoin exchanges generally don't seem to recover that easily after security breaches. However, BitFloor, which was hacked and had 24,000 Bitcoins stolen in early September, is coming back online, refunding account holders whose coins were stolen and implementing new security measures, including cold storage for private keys." The key word is "intends" — but I hope it happens as promised.

2 of 117 comments (clear)

  1. This whole digital currency thing by kiriath · · Score: 5, Insightful

    Gives me the willies...

    Of course it's not much different than paper currency I suppose, it's all make-believe anyway.

  2. But how? by scorp1us · · Score: 4, Insightful

    It's not like *real* money that you can just print out of thin air.

    You've got to come up with that some how, and at $10 (so I don't need a calculator) that's $240,000 you've got to come up with. That's a lot of mining or fees at $0.10 each. That's hard to make up with low volume of trades.

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