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January 16, 2016 04:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/SyayxRteToE/cryptsy-bitcoin-trader-robbed-blames-backdoor-in-the-code-of-a-wallet
Cryptsy Bitcoin Trader Robbed, Blames Backdoor In the Code of a Wallet
An anonymous reader writes: Cryptsy, a website for trading Bitcoin, Litecoin, and other smaller crypto-currencies, announced a security incident, accusing the developer of Lucky7Coin of stealing 13,000 Bitcoin and 300,000 Litecoin, which at today's rate stands more than $5.7 million / €5.2 million. Cryptsy says "the developer of Lucky7Coin had placed an IRC backdoor into the code of [a] wallet, which allowed it to act as a sort of a Trojan, or command and control unit." Coincidentally this also explains why two days after the attack was carried out, exactly 300,000 Litecoin were dumped on the BTC-e exchange, driving Litecoin price down from $9.5 to $2.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/SyayxRteToE/cryptsy-bitcoin-trader-robbed-blames-backdoor-in-the-code-of-a-wallet
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