Is Digital Currency a Bad Idea? -Bitcoin Heist Steals Millions from Exchange
As much as I’m a fan of new technology, like the newly developed currency exchange based in Toronto I’m falling in live with. After suffering personally through losses of my personal information in 10+ breaches (Target, Home Depot, Anthem, etc.), it seems like digital cash is a bad idea until we have fundamental improvements in cyber security. I can’t imagine the criminals are going to return $5 million in digital cash. And, I don’t think this is the last time we’re going to see an exchange robbed – too juicy a target.
In the news: Cryptocurrency exchange Cryptsy has revealed that it suffered a 2014 hack attack that now leaves it insolvent. The exchange is appealing to its attacker to return.