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BREAKING: The Silk Road 2 has been hacked for $2.7 million in BITCOIN

[Ed. Note: As Zero Hedge noted in a tweet “This is getting silly.” But Bitcoin is STILL better than gold & silver, RIGHT??]

by Russell Brandom, The Verge:

The second incarnation of the Silk Road has run into some trouble, with the administrator known as Defcon claiming today the site has fallen victim to a hack, and that all the associated accounts have been emptied. Judging by the blockchain records, attackers made off with roughly $2.7 million in bitcoin, the site’s complete holdings.

According to Defcon, the hack exploited the same “transaction malleability” bug that caused temporary shutdowns at Mt Gox and BitStamp earlier this week. He claims a vendor exploited the bug during a vulnerable moment in the site’s relaunch process, initiating and hiding a flood of transactions until the accounts were emptied. The process required unusually lax security procedures by the site, with little separation between vendor wallets and escrow holdings, but given the scrappy nature of the endeavor, it’s entirely plausible that an enterprising and unscrupulous vendor would be able to pull off the heist.

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12 comments to BREAKING: The Silk Road 2 has been hacked for $2.7 million in BITCOIN

  • jonathan

    To the Editor who wrote the Editor’s Note. The way I feel is one is not better than the other just as a car is no better than a road. VIrtual currencies should be used in unison with all non ferrous metals to create an alternative system to the Paper Ponzi Scheme.

    • SGT

      copy that, it was my note. For the record, I’m not against the cryptos, just skeptical that they are as “safe” as proponents claim. BTW, have you seen Max Keiser and Stacy’s Tweets lately, nuthin’ but crypto pumping 24/7… with today’s launch of ‘Maxcoin’ it reached a fevered crescendo.

      • jonathan

        My point is we have a huge opportunity here and I know Max is promoting it like crazy which even seems to me to be a little sleazy but Bitcoin gives us power. I know it is only as valuable as the businesses that surround it so we should all start using for what we can instead of looking at it as an investment and wondering whether our money will be safe in it.

    • prestodo

      @ jonathan….blah blah blah. Yeah, keep using virtual currencies and then become a virtual victim as all your wealth is virtually stolen, virtually speaking of course.

      • jonathan

        Prestodo I’m sure we’ve had arguments in the past as I have had heated arguments with everyone on this website but please write something intelligent to debate me. First of all I own zero cryptos not BItcoin or anything but I still see its potential.

      • jonathan

        Second of all Prestodo you use virtual currencies every day so stop complaining about them. The money in your bank account is virtual currency the credit card you use is virtual currency most of the dollars in the system are virtual. How many paper bills do you actually think exists? All I’m saying is let’s use a virtual currency where we can check the ledger instead of a secret ledger controlled by the BANKSTER MAFIA

  • Sergio of the Jungle

    That is $2.7 million of potential physical silver or gold wasted. Get it, got it!

    • jonathan

      Sergio I’m disappointed in you and everyone else who bought into this fake war between Metals and Cryptos as if you have to choose between the two. Think Divide and Conquer. Remember how they’ve pitted Whites against Blacks for the last 50 years why because in the 60’s Whites and Blacks united against the powers that be so they Divided and Conquered. Cryptos and Metals have no reason to be at war with each other and if you use them together we can take down the Banksters. Or we can believe that we have to choose one or the other and Crypto people can fight Metals people in some stupid Right vs Left fake battle.

  • Z

    “One of the saddest lessons of history is this: If we’ve been bamboozled long enough, we tend to reject any evidence of the bamboozle. We’re no longer interested in finding out the truth. The bamboozle has captured us. It’s simply too painful to acknowledge, even to ourselves, that we’ve been taken. Once you give a charlatan power over you, you almost never get it back.”
    ― Carl Sagan, The Demon-Haunted World: Science as a Candle in the Dark

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