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