Kipcoin, a Chinese Bitcoin exchange overshadowed by competitors like Huobi and OKcoin, has shut down operations after losing more than 3,000 bitcoins in a hack. The exchange posted the announcement on
Kipcoin, a Chinese Bitcoin exchange overshadowed by competitors like Huobi and OKcoin, has shut down operations after losing more than 3,000 bitcoins in a hack. The exchange posted the announcement on Weibo, the Chinese social network that functions as a hybrid of Facebook and Twitter.
Attackers breached Kipcoin's servers in May 2014 and stole the wallet.dat file containing the bitcoins. For months, the hacker did nothing with the stolen funds. In December 2014, the attacker began moving them out of the exchange. Kipcoin has not said why it failed to act during those months between the breach and the December transfers.
The exchange will reopen after the Chinese Spring Festival and let users withdraw their Litecoin and Dogecoin holdings. The company's Yuan reserves survived the hack and will cover the bitcoin losses. Kipcoin says it will wait until after the Spring Festival to work with law enforcement on catching the attacker, though it has not explained why the holiday requires this delay.
The hacker left identifying information behind, Kipcoin says. The company will pass this to authorities. If the attackers return the bitcoins, Kipcoin will drop its complaint.
Multiple Bitcoin exchanges have failed or lost funds this week. We asked Kipcoin for an English-language statement, and we will update this story if they respond.
Kipcoin identified these blockchain addresses as belonging to the attacker:
1Chg6NxMeTcZ3DQvYA9gocjU4RQwH1LtKD
18zf9CWe4uBy8BesHU3BWqjpibDRRBoPLD
1MYkHXvnWuZ5FaMJkNv4uCLoVC2Ztp2DXK
152BSsbpcGMdj9WBGHq3wXHgJVuqQCs4aJ
16j131w3cvkdAc13sg5nREMiiJj3zoRw5n
16qHXy4RDeek56mNDN84d2F6niE96taQso
175L5Sx81dZZBureP8RtLUyUXoruVdAj1E
17ZJ1sqDRxq7oRVrnNLxoyrvHrtrjtPRfp
17amdMD8JJPcipWqUEwzEtsAuYu1FzkVtg
181qVdiaCcJmzGJV9PEobeYYnkC25PyJdT
18ncsALSWGWRG3JK6yio4PXoiWBbvxAxng
1XgAzaQEe9iDEohWCmdNXSH8XZ74uLBnd
