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Canadian connection in Bitcoin theft
SECURITY

Canadian connection in Bitcoin theft 

A hacker reportedly linked to a Canadian ISP address bilked several hosted servers out of over $83,000 U.S. worth of Bitcoins, according to The Canadian Press. The attacks began in February, and later tailed off in May after the ISP was notified.

It’s believed that the perpetrator either had privileged access to a router at the ISP, or hacked it to gain this access. Despite the theft, it’s unlikely that the hacker will face any charges.

Authorities stated that the suspect was able to conceal their digital footprint, which significantly decreases their chances of discovering the individual’s true identity.

The Consumer Financial Protection Bureau has issued a warning about the attacks, stating that virtual currencies are not supported by the federal government, are subject to fluctuating exchange rates and are a frequent target of hackers. Additionally, Bitcoin deposits are not subject to federal insurance like those carried out in traditional bank accounts. 

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