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News Link • Bitcoin

Bitcoin bank Flexcoin shuts down after massive theft

•, Zach Miners
Flexcoin was attacked and robbed March 2 of all coins in its “hot wallet”—a term that refers to bitcoin online storage—the site said in an announcement posted to its homepage. The attacker made off with 896 bitcoins, which at current prices across several exchanges would amount to roughly $600,000.
Flexcoin also said it will return to their owners the bitcoins it had put in “cold storage,” which weren’t stolen because they’re held offline.
The company will shut down immediately because it does not have the resources or assets to recuperate from the loss, it said. Flexcoin will work with law enforcement to determine the origins of the attack.

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