The most popular Chinese Bitcoin exchange BTER has been recently hacked on Feb 14 2015 and have lost more than £1.1 Million-worth ($1.75 Million; one BTC is about $270) of the digital currency.However no details hasn’t revealed about the suspects who hacked it.
Internet sleuths are already on the hunt to trace the missing Bitcoin. Because of the way the digital currency works, it is possible to trace any transaction or funds easily by using public available service, called “blockchain”.The bitcoins appear to have been split into a number of separate wallets since the alleged intrusion.
According to the announcement, the stolen Bitcoin cryptocurrencies were broadcast through the transaction given below:
The Bitcoin Exchange has also not revealed, how the cold wallets were compromised, except that 7,170 Bitcoin cryptocurrency was stolen from the company’s cold wallets. Cold wallets are a way of storing the digital currency offline.The BTER Bitcoin Exchange is now offering a bounty of 720 BTC – roughly $170,000 – to whoever can retrieve the stolen currency back
This is the second major Bitcoin hack in past two months. Bitstamp based in UK was hacked at the beginning of this new year.