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Bitcoin Bitcoin Site Shuts Down After Being Robbed Of Every Single Coin It Held Online

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Another Bitcoin site disappears.

 

This time Flexcoin — which called itself a bitcoin bank — has announced that it's going out of business after a huge theft that has wiped it clean.

This is the announcement. There's no sugarcoating it. Somehow all the bitcoins were just taken.

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

1QFcC5JitGwpFKqRDd9QNH3eGN56dCNgy6

As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately.

Users who put their coins into cold storage will be contacted by Flexcoin and asked to verify their identity. Once identified, cold storage coins will be transferred out free of charge. Cold storage coins were held offline and not within reach of the attacker. All other users will be directed to Flexcoin's "Terms of service" located at "Flexcoin.com/118.html" a document which was agreed on, upon signing up with Flexcoin.

Flexcoin will attempt to work with law enforcement to trace the source of the hack.

Updates will be posted on twitter as soon as they become available.

It seems unlikely that this will have much effect on the future of Bitcoin.

The Mt. Gox collapse — which was much bigger — was largely shrugged off by the community, which sees the need to become more sophisticated.

 

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Guest Wednesday, 11 December 2019