Online Wallet Service Has £650,000 Worth Of BitCoins Stolen

An online “wallet service” for storing Bitcoins has claimed that hackers took a load of virtual currency from their service to the value of £650,000 ($1.04 Million US), but that he will not be taking the matter up with the police!

Things are seriously suspicious on this one, not only should you never really keep your Bitcoins in an online service for fear of something like this happening, but the man who operates as TradeFortress is only giving his word that he is sorry to users of the site.

Since Bitcoins are virtually impossible to trace, let alone recover, the man will not involve police as he feels it would be a waste of time. The man who is only known as TradeFortress has a radio interview with ABC News where he said “I know this doesn’t mean much, but I’m sorry, and saying that I’m very sad that this has happened is an understatement.” he continued “Please don’t store Bitcoins on an internet-connected device, regardless if it is your own or a service’s.”

It is already suspected to be an inside job because of his lack of action to investigate the matter. When 4,100 BitCoins go missing from your business you should act immediately and I’m sure the users and owners of these funds will not be letting the matter rest any time soon.

Thank you BBC for providing us with this information.