Gatecoin Lost $2m Worth of Bitcoin and Ethereum In Hot Wallet Cyber Hack

[kreslik.news]

Cryptocurrency exchanges remain the prime target for cyber criminals as the apparent weakest link in the blockchain ecosystem. Since the collapse of MtGox we have seen more and more services go offline temporarily or even completely shut down due to hackers stealing their holdings. This single point of failure should fuel the drive toward completely decentralized exchanges that will theoretically be much more secure than the current exchanges model.

The latest victim to suffer from cyber crime is the Hong Kong regulated financial institution for blockchain assets, Gatecoin. On Saturday, the founder and CEO of the firm Aurelien ... (read more)