Cyberattack Leads to $1 Million Bitcoin Heist

Another Bitcoin company has fallen victim of a massive cyberheistBIPS, one of the largest European Bitcoin payment processors, lost 1,295 Bitcoin (currently worth $1 million) after a cyberattack.

As the price of Bitcoin continues to rise, cybercriminals are targeting companies with large holdings of Bitcoins in their servers. The attack on BIPS happened just a few weeks after inputs.io, which allegedly lost 4,100 BTC, worth more than $1 million at the time.

Hackers launched their initial Distributed Denial of Service (DDoS) attack on BIPS on Nov. 15, the company wrote in a Reddit post. The hackers attacked again on Nov. 17, overloading BIPS servers and somehow getting access to several online wallets, which allowed them to steal the 1,295 BTC. Read more...