BTER Exchange Hacked, Lost $1.75 Million

[Coinbuddy]

BTER, a China-based, crypto-currency exchange, has announced that its cold wallet has been hacked, resulting in the loss of 7170 BTC, approximately $1.75 million USD.

Continue reading at:  http://www.coinfinance.com/news/bter-exchange-hacked-lost-1-75-million

[Kprawn]

Boooo hooo hoooo same old story.

The only way to stop that, is to have huge penalties for companies, who has been hacked. It will be bad for those who has been legitimately hacked, but good for those who arrange "in-house" to be hacked.

These penalties can then be used to pay back a % of the money hacked.

The other option, is to force them to take out insurance for instances like this. {Hacking = robbery} The insurance are then paid to the people, who lost their money. 

[Coinbuddy]

Boooo hooo hoooo same old story.

The only way to stop that, is to have huge penalties for companies, who has been hacked. It will be bad for those who has been legitimately hacked, but good for those who arrange "in-house" to be hacked.

These penalties can then be used to pay back a % of the money hacked.

The other option, is to force them to take out insurance for instances like this. {Hacking = robbery} The insurance are then paid to the people, who lost their money. 

That's why bitcoin price always falling down

[Grand_Voyageur]

BTER, a China-based, crypto-currency exchange, has announced that its cold wallet has been hacked, resulting in the loss of 7170 BTC, approximately $1.75 million USD.

Continue reading at:  http://www.coinfinance.com/news/bter-exchange-hacked-lost-1-75-million

It's just too easy to fly with the BTC and say "we've been hacked"! Too much exchanges are saying it to be credible anymore.
If they want to run an Exchange they have to do their job and secure it.

[ikydesu]

BTER, a China-based, crypto-currency exchange, has announced that its cold wallet has been hacked, resulting in the loss of 7170 BTC, approximately $1.75 million USD.

Continue reading at:  http://www.coinfinance.com/news/bter-exchange-hacked-lost-1-75-million

offering a bounty of 720 BTC for anyone who could track down the attacker(s) and return the stolen Bitcoin.
why they not hiring ppl with expert security craker

[Madness]

It's surely not a coinsidence that this happens only China , always china who gets screwed up . As I said on another thread it's probably just another inside job and no one will know anything about it . or some big people are doing this so Bitcoin gets banned on China . China likes to ban stuff as we know .

~ Madness

[SargeR33]

Lol, offering a bounty. Yeah if this was an inside job you'll never get to the bottom of it. Don't know why people trust the Chinese with anything high value. They had to recall BERRIES in Australia because they came from China and were contaminated with Hepatitis A. Great country exporting shit to the world only interested in taking money.

[avw1982]

Here is an other example why you shouldnt let your BTC on a exchange.

[Mickeyb]

RIP BTER!!

https://bitcointalk.org/index.php?topic=178336.msg10476524#msg10476524

[rich93]

It's surely not a coinsidence that this happens only China , always china who gets screwed up . As I said on another thread it's probably just another inside job and no one will know anything about it . or some big people are doing this so Bitcoin gets banned on China . China likes to ban stuff as we know .

~ Madness

Not true, it happened in Japan too when Mt Gox was "hacked", although the police suspect an inside job.