Published on September 17th, 2015 | by bitcoin0
BitPay, Bitcoin payment processor, is a bit lighter in the pockets, losing $1.8 million to Phishers.
Atlanta-based bitcoin payment processor BitPay has suffered a phishing attack costing the company $1.8 million.
The email account of David Bailey, founder of Bitcoin quarterly yBitcoin, was compromised first.
Krohn then received an email appearing to be from Bailey requesting he review modifications made in a Google document.
At the time they were in negotiations about the purchase of BitPay’s magazine business by yBitcoin, according to documents filed by BitPay.
Besides pretending to be him, Krohn suspects the hacker also obtained details about how BitPay transacts with its customers, like SecondMarket’s advance payment exemption.