Bitcoin exchange site Bitcoinica suspended its operations on Friday after hackers managed to steal 18,547 bitcoins -- valued at about US$90,000 -- from its... Zhou Tong seizes this opportunity and starts working on a platform from September 3rd. Having knowledge of web development, he built the site in a few days. Bitcoinica was born on September 8, 2011 . The launch is announced by Zhou Tong on Hacker News and on Bitcointalk. It presents Bitcoinica as an “ advanced bitcoin trading platform ”. On the website, he presents the platform as ... The 43,000 BTC Linode theft was not enough, and another 18,457 BTC was stolen from Bitcoinica’s reserves. The CEO Zhou Tong was barely able to prevent the loss of 30,000 more. The site was immediately shut down for security reasons. Vitalik Buterin, being a writer and co-founder of Bitcoin Magazine at that time, wrote: The CEO associated this with the comments present on Zhou Tong’s post on BitcoinTalk.org. Tong is the Founder of Bitcoinica, a cryptocurrency exchange which shut down as the platform was compromised to a hack in May 2012. This led to the Founder existing the cryptocurrency space and posting it on BitcoinTalk. To this, Ver stated that there are probably bots who continue to comment on the ... Bitcoinica launched in September 2011 and was a Bitcoin trading platform created by Zhou Tong, a teenager at the time. It quickly gained attracted deposits from many prominent community members. In late 2011, Zhou Tong sold Bitcoinica to Intersango (a UK-based exchange) but stayed involved as CEO and lead developer. From March to July 2012, Bitcoinica suffered a series of catastrophic ... ⭐ Binance is the world's leading crypto exchange ... Bitcoinica hacks (2012): 120,000+ BTC. Bitcoinica was a popular Bitcoin trading platform back in 2012, owned and run by Zhou Tong. The exchange was fairly advanced for that time but apparently lacked in security precautions as it suffered 3 security breaches in just one year. On March 1st, 2012, an unknown attacker decrypted the Bitcoinica ... An interesting series of heists revolved around Bitcoinica, an early bitcoin exchange by a 17-year-old entrepreneur and coder named Zhou Tong. Hackers first exploited a vulnerability in shared online web host Linode and stole over 46,653 BTC from eight different Bitcoin services there in March 2012, including more than 43,000 coins from Bitcoinica.
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