News

BitPay loses USD 1.8 mln in phishing hack

Friday 18 September 2015 13:27 CET | News

US-based Bitcoin payment processor BitPay has suffered a phishing attack costing the company USD 1.8 million.

A hacker posing as BitPay CFO sent e-mails in December 2014 from his account authorizing the transfer of 5,000 BTC in three separate transactions to SecondMarket.

BitPay filed a claim for losses, which its insurance company, Massachusetts Bay Insurance Company, denied in a June 8 letter. On Sept. 15 BitPay filed a suit against MBIC for breaching contract, bad faith failure to pay and statutory damages. It is seeking USD 950,000 in damages plus court fees.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Bitcoin, online payments, digital payments, cryptocurrencies, blockchain, BitPay, phishing
Categories: DeFi & Crypto & Web3
Companies:
Countries: World
This article is part of category

DeFi & Crypto & Web3






Industry Events