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

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