Bitcoin Exchange Flexcoin Wiped Out By Theft

Posted by timothy on Tuesday March 4, 2014 @03:48AM from the in-the-movie-version-it'll-be-the-feds dept.

mrspoonsi writes "Joining MtGox, Flexcoin today announced they have had their vault wiped out, to the tune of some 896 BTC (about $615,000) by hackers. 'On March 2nd 2014 Flexcoin was attacked and robbed of all coins in the hot wallet. The attacker made off with 896 BTC, dividing them into these two addresses: 1NDkevapt4SWYFEmquCDBSf7DLMTNVggdu [and] 1QFcC5JitGwpFKqRDd9QNH3eGN56dCNgy6. As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately.'"

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Re:So, doomed to fail? by geekoid · 2014-03-04 03:59 · Score: 0, Troll

It's a systematic flaw in electronic currency.
You can not hid secrets from the future with math. ANd presumable you want a currency that will last decades.

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