Canadian police investigating after bitcoin bank Flexcoin folds


Julie Gordon and Leah Schnurr
Reuters
March 6, 2014

010814bitcoinlogoCanadian police have launched an investigation after online bitcoin bank Flexcoin, which closed its virtual doors this week, said that it had lost about $600,000 worth of the digital currency in a hacker attack.

The Edmonton, Alberta-based company reported the theft of 896 bitcoins on its website on Monday and said it “does not have the resources (or) assets … to come back from this loss.” It blamed the attack on hackers who had targeted its online wallet.

Bitcoins stored in Flexcoin’s cold storage facility, which is basically an offline bank, were not affected by the hack and will be returned to customers, the company said.

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