menu
Get a daily delivery of PSFK
Subscribe to get a daily digest of new ideas and discoveries and to find out about upcoming events

LulzSec Rogue Suspected Of Bitcoin Hack [Headlines]

LulzSec Rogue Suspected Of Bitcoin Hack [Headlines]

More than $9m of online currency was stolen in a weekend attack on the web exchange service that could cost members of cyber security companies, Anonymous and LulzSec, thousands of dollars each.

Valentina Park
  • 22 june 2011

A rogue member of hacker group LulzSec is suspected to have been responsible for a hack last weekend which resulted in the theft of $9m worth of online currency. The hack focussed around a “currency exchange” called MtGox, which provides a method for swapping Bitcoins – an untraceable, cryptographically-created online-only currency favoured by online activists and hackers – for real US dollars. Late on Sunday evening, MtGox was compromised when a hacker tried to sell more than 400,000 Bitcoins – 6% of all the virtual currency presently in circulation – for an initial price of $17.50 each, which would have netted $7m at a constant price. LulzSec has denied any involvement in the Bitcoin hack. The Guardian

Post Image
Read More Tap to Expand
PSFK CONFERENCE 2015

Live. Work. Play. Better.
The PSFK 2015 conference experience

NEW YORK, NY | April 16-April 18 2015
Get a daily delivery of PSFK
TREND REPORT

PSFK Labs presents
The Future of Retail 2015

A Manifesto To Reinvent The Store