Silk Road 2.0 hacked for $2.7mn in bitcoin
Washington: Silk Road 2.0 has been reportedly hacked by attackers who made off with nearly 2.7 million dollars in bitcoin, the site`s complete holdings.
Administrator of the second incarnation of the online anonymous black marketplace, known as Defcon, has claimed that hackers exploited the same `transaction malleability` that caused temporary transfer shutdowns at bitcoin exchanges BitStamp and Mt Gox this week.
According to The Verge, Defcon said that a 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 relaunch process required unusually lax security procedures by the site, with little separation between vendor wallets and escrow holdings.
The report said that although the site is officially active, the administrators have implemented strict new security protocols that would make transactions significantly more difficult.
More from India
More from World
More from Sports
More from Entertaiment
- Dengue cases on the rise in Delhi - Is the govt waiting for another epidemic?
- JNU student accuses fellow PhD scholar and AISA member of rape
- Sukhoi 30MKI posted in Arunachal Pradesh; Kiren Rijiju lauds development
- Olympic medalist PV Sindhu returns to Hyderabad; receives grand welcome
- Twelve-year-old ISIS suicide bomber caught and arrested in Iraq
- Gionee S6s smartphone for selfie lovers to be launched in India today
- Rio Olympics 2016: Sakshi Malik, PV Sindhu shine for India; USA top tally with 121 medals
- US Republican voters not happy with Donald Trump as presidential nominee: Poll
- Renault Kwid 1.0-litre to be launched in India today
- Sushant Singh Rajput, Shraddha Kapoor to come together! No, we aren’t talking about a film