Chinese Bitcoin exchange Bter hacked, $1.75 million worth of cryptocurrency stolen

Bitcoin by zcopley on Flickr

Even as Bitcoin is beginning to shake things up in the US in 2015, all is not well in the cryptocurrency world. China-based Bitcoin exchange Bter was hacked on Valentine’s Day and $1.75 million worth of Bitcoin was stolen. The company hasn’t revealed much about the breach, except that 7,170 BTC was taken from its cold (offline) wallet on February 14 via this transaction and that the platform is suspending operation until further notice. The company is offering a bounty of about $170,000 (720 BTC) for “chasing it back” and that it will arrange for withdrawals of the unaffected funds…



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