Hackers took off with $250,000 worth of Bitcoins from the Bitfloor currency exchange, leaving the site’s reserves tapped and users wondering how to get their money back.
Shtylmann published a public forum post announcing that he has had to suspend the service for the time being. “This attack took the vast majority of the coins BitFloor was holding on hand”, said Shtylmann, but he emphasised that he has access to the current logs of all transactions and existing accounts, and that these can be used to initiate account repayments to BitFloor customers if required. Whether or how BitFloor will be able to continue is currently uncertain.
Bitcoins are a digital, non-government currency that is generated within a distributed network using a cryptographic algorithm. As anonymity is part of this currency’s concept, stealing a digital wallet from services such as BitFloor has the same effect as stealing a physical wallet: the money is gone. Bitcoins have repeatedly been a desirable target: in May 2012, attackers stole coins from the Bitcoinica exchange, and in March 2012, Bitcoins worth €150,000 were stolen during a break-in at the Linode cloud service. Major Bitcoin exchange Mt. Gox was hit in 2011, which dramatically decreased the value of the currency.