MtGox Bank Transfer - Secure?

[LegalEagle]

Newbie here, so please forgive my ignorance.

I decided I want to buy some BitCoins, but I'm very hesitant about submitted my bank information to MtGox.  I'm willing to take the risk of my BitCoins being stolen, as my initial investment isn't going to be that large.  However, I'm nervous about the possibility of MtGox being breached and my bank information being stolen, allowing the hacker to clean out my bank account.

Is this an irrational fear?

[CryptoFreak33]

It's not an irrational fear. Mt Gox has been compromised in the past IIRC. However, at the moment, they are the most trusted exchange out there so, most likely, your information is safe. Stay paranoid though. It will serve you well as you navigate this community.

[johnnyb]

It's not an irrational fear. Mt Gox has been compromised in the past IIRC. However, at the moment, they are the most trusted exchange out there so, most likely, your information is safe. Stay paranoid though. It will serve you well as you navigate this community.

Wise words.. Not used Mt Gox, did hear about the high profile compromise though.

I used mercabit.eu for my only (so far) transaction and the dude was quick and helpful.

[davout]

Is this an irrational fear?

Yes, someone can't just empty your account with the banking information you transmit to an exchange.

[LegalEagle]

If it helps anyone else out, I found a new method of funding my account:  Bitinstant, and direct cash deposit through MoneyGram.  Fees are a bit high, but tolerable I suppose.