[2017-09-15] Dutch Bitcoin Broker Litebit Suffers Second Data Breach in Six Week

[davey76]

It is never good to see Bitcoin exchanges or brokers suffer a hack. Although not all of these incidents involve stolen money, it is still a worrisome development from a security vantage point. Litebit.eu, a Dutch cryptocurrency broker, has suffered two separate incidents over the past few months. It remains to be seen how this will affect the company’s reputation moving forward.

More: http://www.btcnewsweb.com/story/4356/dutch-bitcoin-broker-litebit-suffers-second-data-breach-in-six-weeks/

[buwaytress]

Alleged claims of hacks notwithstanding, it does seem common enough to warrant deeper investigations. There is some persisting misconception that all these exchange hacks are proof that crypto is not very secure and that your funds could disappear overnight. What needs to be emphasised is that it's the security of these exchanges that were compromised - not that of Bitcoin's network.

I now count two Dutch businesspeople I know who bought crypto in the past few months since I arrived. Tried convincing them to at least use a wallet with a friendly GUI like Exodus. Unfortunately, none trust their own sensibilities enough to store them in their own wallets. Both have careers in finance and entrust brokers like Litebit with their coins.