Daily Digest: BTER Hacked, Bitcoin Core Updated

Chinese exchange BTER loses up to US$1.75 million in cold wallet hack. Meanwhile, fiat banks may have lost over US$300 million in the last 15 months through hacking. Bitcoin Core updated to version 0.10.0 and much more news that happened on February 15.

BTER hacked for over US$1.75 million

China-based digital currency exchange BTER has admitted that 7,170 BTC has been stolen from what was reportedly a cold storage wallet. The firm has since issued a 720 BTC bounty for anyone who manages to recover the funds.

“According to China-based exchange BTER, 7,170 bitcoin have been stolen from a wallet. What makes matters more interesting is that the stolen coins were in cold storage.”

BTER hacked for over US$1.75 million

US$ 300 million bank heist dwarfs losses from three exchanges

A 15 month long story has emerged about the theft of funds directly from a number of traditional fiat based banks. Detected by an internet security company, and with no current confirmation from the banks themselves, the losses could be higher than first expected.

“[C]ybersecurity firm Kaspersky Lab has compiled evidence of a coordinated attack beginning 2013, which has seen institutions worldwide become the victim of untold rates of theft. According to the Times, Kaspersky Lab “says it has seen evidence of US$300 million in theft through clients, and believes the total could be triple that.”

US$ 300 million bank heist dwarfs losses from three exchanges

Bitcoin Core update 0.10.0 released

A core update for Bitcoin has been released, allowing for header first synchronization as well as scaling payments based on demand. The update makes a number of other changes including easier access to the blockchain's consensus library for developers, and easier following of wallet addresses.

“Bitcoin Core now uses ‘headers-first synchronization’. This means that we first ask peers for block headers (a total of 27 megabytes, as of December 2014) and validate those. In a second stage, when the headers have been discovered, we download the blocks. However, as we already know about the whole chain in advance, the blocks can be downloaded in parallel from all available peers.”