Another Bitcoin. Multi-currency crypto exchange Poloniex announced today that their website was hacked, leading to the theft of Bitcoins.
On the BitcoinTalk forum, the company explained how the hacker stole the Bitcoins: He submitted multiple withdrawal requests at once to lead to a negative balance, but the request is still being processed.
"Another design flaw is that withdrawals should be in a row at each step of the website. This would not be possible if withdrawal requests were processed sequentially instead of simultaneously," the forum post states.
One of the forum members provided a link to the bitcoin “https://blockchain.info/address/1Ktq7TE3J5vZ3c99M5weqKfFcNkHQdqPrq.” It appears the loss is around $50,000.
The owner of Poloniex stated that he will take full responsibility and repay the BTC debt. However, due to the lack of 12.3% of the funds, the company will temporarily deduct 12.3% from all accounts.
"If I had the money to pay off the entire debt right now, I would do it right away. But I'm not doing it because I can't find the money anywhere," he said.
