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Title: [2016-05-22] Federal Court Dismisses Bitcoin Startup BitPay's Phishing Lawsuit Post by: sirohige on May 24, 2016, 05:42:55 PM A legal battle between bitcoin payment processor BitPay and a major insurance company has ended.
Filed yesterday, a court order dismissed the suit between BitPay and Massachusetts Bay Insurance Company, a subsidiary of Hanover Insurance, without prejudice. According to the court order signed by US District Judge Steve Jones, the two sides "have reached a settlement in principal". The suit traces back to late 2014, when BitPay lost approximately $1.8m in bitcoin during a phishing attack that targeted the company’s leadership team. At the time, the unknown attacker was able to trigger payments from BitPay by posing as BTC Media CEO David Bailey, whose computer had been taken over. http://www.coindesk.com/bitpay-settles-security-breach-claims-lawsuit-with-insurance-company/ |