Just finnished reading this news, well, it sounds too good to be true. It seems as if BitPay's CFO and CEO are using 'a hacker,' as a scapegoat for the loss of over $1.8 million worth of BTC.
With BitPay following similar trails as the Mt. Gox scandal, can they and their integrity truly be trusted in the foreseeable future?
Source: Bizjournals
With BitPay following similar trails as the Mt. Gox scandal, can they and their integrity truly be trusted in the foreseeable future?
Source: Bizjournals
seeing how they been operating seemingly flawlessly since the loss for almost a year now... i think it safe to assume they will continue to provide good services.
it's not unimaginable that they could take such a loss and still be solvent, and i think it would be hard for them to practice fractional reserves banking since unlike MTGox they don't hold customer BTC very long and do next day cash settlements.
some info seguest they have patched this security hole.
everyone seems quick to call them stupid for walking into a phishing attack. I think this security hole ( trusting CEO emails ) was an oversight on a otherwise tight and secure system, being the largest in the space i can imagine there have been many hackers trying to hack it... bitpay has been around for a Long time, and this is the first hack they fell victim to.
i think their rep. has taken a hit, i trust their integrity, shit happens you live a learn..
hmm mtgox operated for months before going belly up.
I suspect there is more than what meets the eye here with bitpay.
