Hacked Bitcoin Financial Site Had No Backups 331
An anonymous reader writes "A fortnight ago the Bitcoin financial website Bitcoinica was hacked and the hacker stole $87,000 worth of Bitcoins. At the time the owner promised that all users would have their Bitcoins and US dollars returned in full, but one of the site developers has just confirmed that they have no database backups and are having difficulty figuring out what everyone's account balance should actually be. A failure of epic proportions for a site holding such large amounts of money."
Re:Let me be first to say... (Score:5, Informative)
Re:Ha! (Score:5, Informative)
Good luck getting any bank in America regulated if the Republicans all three branches.
Like they did in 2002 when the Sarbanesâ"Oxley Act was passed? You're delusional if you think Republicans don't love regulation. Look at their actions, not their words.
Seriously, look into starting a new bank as a startup (I have). It's not possible without massive capitalization and regulation. Upwards of $5M in legal fees alone.
Re:Ha! (Score:4, Informative)
Scrooge Mcduck never worried about banks and he was loaded.
If I've said it once, I've said it a thousand times. Scrooge McDuck is a better duck than I.
Re:Ha! (Score:4, Informative)