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News Link • Bitcoin

How to steal Bitcoin in three easy steps

• theverge.com

Earlier this month, someone pulled off the largest heist in the history of Bitcoin, the virtual currency that approximates cash on the internet. The illegal drug bazaar Sheep Marketplace was plundered, either by hackers or insiders, and about $100 million worth of the currency was stolen from customers.

Bitcoin heists are actually not uncommon. In June of 2011, a user named Allinvain was the victim of what is arguably the first recorded major Bitcoin theft. Allinvain awoke to find that a hacker had stolen about half a million dollars' worth of bitcoins. "I feel like killing myself now," he wrote at the time.

There have been dozens of Bitcoin thefts since then. The supposedly high-return investment fund Bitcoin Savings & Trust turned out to be a pyramid scheme, its owner charged with ripping off investors for $4.5 million in bitcoins. MyBitcoin, a "wallet" service that stored bitcoins like a bank account, disappeared with about $1 million worth of users' bitcoins.

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