Bitcoin Exchange Service Bitstamp Reports Security Breach

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Bitcoin exchange service Bitstamp has suspended its services after its wallet system was compromised to the tune of more than $5 million dollars. This is one of many security breaches involving Bitcoin exchange services, which has caused a few of the largest services to close their doors.

Once Bitstamp realized that it had been compromised, it immediately suspended all exchange services. Bitstamp says the breach affected only a fraction of its total Bitcoin reserves and that any exchanges made prior to the service suspension are safe. Still, the Bitstamp breach reminds us that virtual currencies have a ways to go and that Bitcoin-based businesses may not be prepared to mitigate these attacks without affecting their customers. Read more.

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Road Warriors: Wireless Threats to Business

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In today’s world, information security has become more than just a box for businesses to check off. As news reports about hacker breaches become even more widespread, businesses find that their clients are increasingly demanding a high level of assurance in their data’s security. In 2011, Consumer Reports estimated that U.S. businesses spent more than $130 billion on computer security that year alone; today, they spend more. Businesses are also driven to become top players in security due to the cost of being breached: when accounting for detection, response, enhancements, and lost business, an average company can expect to lose $7.2 million due to a single breach. To read read more download our new white paper.

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