An open letter to Kris Henriksen:
As someone who used to be associated with BIPS and whose reputation has taken a hit as a result of the website's hack, I ask for transparency on behalf of the public and myself. You have provided the public no concrete details about what was exploited nor how access was gained. ~1300 BTC of user funds were taken and not repaid to this day: A tragedy which is hard to stomach given the once sterling reputation of the business. When I left BIPS in the summer of 2013 there were no known security issues and a sizable profit sitting in the wallet. Having handled customer support, I did not see a single security flaw reported up until my departure.
Until you provide technical proof of the hack beyond the address which Bitcoins were sent to I have very serious concerns about what happened. Anyone could have discovered this address using the block chain and I refuse to believe you have no more details than that. Providing the full technical details of this hack to the public may help in apprehending the suspect and give hope to those who have lost coins. As far as I can tell BIPS is long gone and not coming back - there is nothing to lose by releasing information about the hack.
The stolen coins were on the move last summer until the public took note; so whoever took them still has access and in theory could return them. If the hacker has a heart, they will give the Bitcoins back to someone who can give them back to the users. I want nothing to do with the process but I propose BitPay, BitStamp or some other reputable member of the community provide an address which funds can be sent to. My relationship with BIPS officially ended July 2013 and I want nothing to do with it after how things ended.
To the hacker: You will never be able to spend those coins, so why don't you just return them? Any attempts to spend them will result in your identity being revealed and you being caught.
Kris: You owe it to the public to provide every technical detail to the public including the server logs. The missing ~1300 BTC is almost $1 million Canadian today and silence on the issue is unacceptable. The public needs to know I am not okay with this and you should not be either.
Sincerely,
Adam Harding
I have been amazed for a long time how someone could get away with stealing 1300 BTC so easy and people just forget about just as fast.
BIPS was reorganized into a new company called coinify, Kris was in charge of "technology and security", lol. But looks like he left the company in silence, he is not to be found any where in the industry, so either he got a job at burger king or he retired early.
Last year did coinify got a huge government grand last year to develop "bitcoin technology", it was a lot of money could have covered a huge chunk of the loses. But why should they, it was BIPS he lost the coins not them, this is "new" company.
The funds are already being spend, but slowly, so far is 30 BTC been cashed out:
https://blockchain.info/address/1HpwmCt8LE6uA6gMDowMiYAFjqAa5BNrzgYou cannot just sell 1300 BTC on bitstamp, it would cause you problems, he is selling them slowly over time.
The account "Kris" was stolen hacked during the bitcointalk database hack, don't expect to see this thieve around here again, don't even think he is watching this thread anymore.
Damn sad story, so many broken dreams...
