Hackers made out with 120,000 bitcoins from Hong King exchange Bitfinex, after breaching the company’s security system.
Editor’s Remarks: Although high profile, this is not the largest heist in bitcoin – in 2014, hackers stole $400m worth of the electronic currency. The growing number of attempts to steal bitcoin, with some successful, raise concerns over the currency’s security. There have been several controversies surrounding the bitcoin in recent years: fraud, a Ponzi scheme and the infamous Silk Road – all about a currency that is not regulated or supervised enough. In spite of these incidents, the bitcoin’s popularity is rising, with some major retailers now accepting it as payment. Therefore, the next logical step should be that governments start the legislation framework in order to protect consumers.
What to watch: Bitcoin Price, Bitfinex, Blockchain Technology