[2015-09-29]Bitcoin.com - PGP Could Have Prevented BitPay Phishing Attack

[Blawpaw]

PGP Could Have Prevented BitPay Phishing Attack

Two weeks ago, it was revealed that BitPay suffered a phishing attack in late 2014, costing the company $1.8 million USD. According to documents obtained by the Atlanta Business Chronicle, a hacker gained control of...

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https://news.bitcoin.com/pgp-prevented-bitpay-phishing-attack/

[Kakmakr]

The improved option to PGP encrypted emails, would have been to back it up with telephone or some sort of human verification. Their business practice sucked and through simple social engineering they lost $1 800 000 USD.

No wonder the insurance company did not want to pay their claim. I hate insurance companies, but in this case I have to agree with their decision.