How the mighty fall.
Bitcoins, the on-line currency that was recently worth over $500 per coin has suddenly disappeared - along with all its' investors money. Oooppppssssss.
They've deleted all their Tweets from Twitter and their CEO resigned on Sunday.
It would appear that Bitcoins has 'lost' 744.408 of its' users bitcoins worth almost $360 million. Seems they didn't foresee the way their system could be used for fraud and put a halt on all withdrawals earlier this month but by the time they'd stopped all trading on Monday, the bitcoin value had plummeted to just $130 - ouch.
Full story here.
There are other implications to this as anybody who now gets infected with the Cryptolocker virus might have a problem getting their files back as the villains behind it were using the anonymity bitcoins offered to ply their trade.
So what happens now is anybodies guess as I'm not aware of any other on-line payment system they can hide behind for more than a couple of days without being found out. Long term, that's a good thing but for the short term, many people will be up the creek without a paddle. Don't let it be you.
Don't have nightmares - back-up your data - stay safe.
Bitcoins, the on-line currency that was recently worth over $500 per coin has suddenly disappeared - along with all its' investors money. Oooppppssssss.
They've deleted all their Tweets from Twitter and their CEO resigned on Sunday.
It would appear that Bitcoins has 'lost' 744.408 of its' users bitcoins worth almost $360 million. Seems they didn't foresee the way their system could be used for fraud and put a halt on all withdrawals earlier this month but by the time they'd stopped all trading on Monday, the bitcoin value had plummeted to just $130 - ouch.
Full story here.
There are other implications to this as anybody who now gets infected with the Cryptolocker virus might have a problem getting their files back as the villains behind it were using the anonymity bitcoins offered to ply their trade.
So what happens now is anybodies guess as I'm not aware of any other on-line payment system they can hide behind for more than a couple of days without being found out. Long term, that's a good thing but for the short term, many people will be up the creek without a paddle. Don't let it be you.
Don't have nightmares - back-up your data - stay safe.
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