Friday, January 30, 2015

CoinTerra Bankrupt -- Ripple Labs $30M -- Exchange 796 Hacked!

Good Morning Bitcoins!

CoinTerra Folds!

Ripple Labs Explodes!

and Chinese Exchange 796 gets hacked for more than 1,000 Bitcoins!

Today is Thursday, January 29th, 2015 -- MadBitcoins:  money for nothing.  chicks for free.

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Here are Today’s MadBits:

Cointerra Files for Bankruptcy With Up to 999 Creditors Owed Cointerra’s got 999 creditors and more than 50 million dollars in debt but a bitcoin ain’t one.  Cointerra, the once legendary bitcoin mining company has filed for bankruptcy and is no more.  What was once $1.5M of Venture Capitol has become a smoking crater of $50 million dollars in debt.  The bitcoin mining sector continues to sink as the price collapses, with over promising and under delivering running rampant in the industry.

Ripple Labs Finalizing a US$30 Million Funding Round  Ripple, the little bank friendly currency that could continues to expand despite founder problems and rumors of a fire sale.  The price has been up lately and now they’ve just landed a $30 Million dollar funding round from Andreessen Horowitz, Google Ventures, and IDG Capital Partners.  Way to go Ripple!

Chinese Exchange Gets 'Goxed' for 1,000 bitcoins  Chinese Exchange 796 has mistakenly lost 1,000 bitcoins of customer funds due to hackers using a similar address attack, tricking users into withdrawing into the Hacker’s address.  796 has posted a detailed response saying they attempted moving their servers to a secure cloud site, but were unable to prevent the attack, promising to continue their goal of transparency in the future.  The company will be repaying users for the hacked coins with their major shareholders accepting the loss in the form of reduced dividends.

Never leave your bitcoins on the exchange.  Trade and then store your bitcoin in paper wallets with private keys that have never touched the internet.  If you don’t own your private keys, you don’t own your bitcoin.  Don’t leave your bitcoin with any third party, if you want to keep it.

Meanwhile Bitcoin Prices are down 1.5% with WinkDex reporting a last of $232 -- a high of $236 and a low of $222.

Litecoin is at $1.86 cents a coin.

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Until Next Time
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