[2016-05-14] Gatecoin statement: Hot wallet breach losses estimated to $2M USD

[BitcoinXio]

Yesterday it was discovered that the Hong Kong based bitcoin and cryptocurrency exchange Gatecoin had been hacked. Thomas Glucksmann, marketing manager from Gatecoin, told us that Gatecoin is investigating the issue and looking to fix it ASAP, specifically stating that Gatecoin “will cover for the potential losses.” Gatecoin stores 95% of users’ crypto-asset funds in multisig cold storage vaults.

Read more: http://bitcoinx.io/news/articles/gatecoin-official-statement-hot-wallet-breach-losses-estimated-to-be-2m-usd/

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[ahmed00000]

I am in the opinion of these expenses will not be covered first, because the big expenses and secondly not sought a clear vision to c
ompensate

[Snorek]

How come that it is from all bitcoin online services it is always exchanges being targeted by hackers and robbed?
Someone explain it to me why it is so easy (apparently) to hack an exchange but online wallets are never hacked.
I am beginning to feel like there is something behind the curtains of all these exchange vulnerabilities.

[klintay]

its seems like only BTC and ETH were stolen.

Dao, Augur, Digix, etc are fine...

[frankenmint]

its seems like only BTC and ETH were stolen.

Dao, Augur, Digix, etc are fine...

of course...those systems aren't even live they were acting as a middleparty for their squatted on ipo assets...if ONLY the BTC and ETH were stolen they are likely still royally boned

[klintay]

its seems like only BTC and ETH were stolen.

Dao, Augur, Digix, etc are fine...

of course...those systems aren't even live they were acting as a middleparty for their squatted on ipo assets...if ONLY the BTC and ETH were stolen they are likely still royally boned

scary shit....15% of their total assets, $2 million, how much does an exchange like that pull in via trading fees?

[Karartma1]

Yet another hot wallet breach for an exchange. Nothing new actually: this is, and will allways be, the main problem for the bitcoin ecosystem. Again, these are the news that make new people disappear