Bitcoin Bank website “FlexCoin” has been taken down due to a breach by hackers, who stole 896 bitcoins worth $600,320.
The organization claims that the attack took place on March 2, when hackers transferred the digital currencies to two different addresses.
In a statement, the company said: “As Flexcoin does not have the resources, bills of exchange or other means to return the lost funds, we are closing immediately.”
Bitcoins stored on the cloud service were not affected by this breach, as the coins were kept offline. Users who had stored their coins on the cloud service will need to notify Flexcoin for verification of their details .
For the rest, the company pointed out a link to the TOS, where it says: “Flexcoin Inc is not responsible for securing any bitcoins stored in the Flexcoin system. You have entered into this agreement with Flexcoin S.A. You have agreed that Flexcoin Inc, or the entities of Flexcoin Inc, or the shareholders of Flexcoin Inc, are not responsible for any loss of bitcoins.”
Finally, the company says it is working with law enforcement to find the cause of the security breach.
