Tuesday 31 July 2012

Btc-E Hacked

Btc-E was hacked which is another blow to the Bitcoin project as Btc-E is one of the more popular exchange.  I loved to use Btc-E especially it gave a lot of choices of crytographic currency.   It seemed that someone fraudulently entered a lot of USD and buy up the value of the Bitcoin until it spiked to over US$90.   The situation is still unfolding.  Best Wishes to Btc-E, may it resume operations asap.

This is a recommendation taken from the popular Bitcon forum:

1. Sell ALL USD immediately. There is definitely not enough USD to pay out.
2. Withdraw ALL BTC immediately. Unless fractional reserve or cold storage was employed, there should be enough. This is confirmed by one of DeathAndTaxes's experiments.
3. Change passwords for other websites immediately. The database is likely to leak, if a SQL injection was the culprit.

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