[2016-05-13] Gatecoin website is down due to exchange hot wallet hack

[BitcoinXio]

It seems yet another bitcoin exchange has been targeted by malicious hackers. This time, it was Hong Kong based Gatecoin. In a tweet sent out less than an hour ago, Gatecoin issued a statement alerting users that their website is down and that there is a high risk of their hot wallets being compromised.

Read more: http://bitcoinx.io/news/articles/gatecoin-website-is-down-due-to-exchange-hot-wallet-hack/

[GreenBits]

It seems yet another bitcoin exchange has been targeted by malicious hackers. This time, it was Hong Kong based Gatecoin. In a tweet sent out less than an hour ago, Gatecoin issued a statement alerting users that their website is down and that there is a high risk of their hot wallets being compromised.

Read more: http://bitcoinx.io/news/articles/gatecoin-website-is-down-due-to-exchange-hot-wallet-hack/

I'll hold further comment until I hear more details of the attack, and the amount of money lost, but dammit, when will it be understood that nothing less than enterprise grade security is required to hold vast sums of value, when said value is non refundable.