Many are lamenting not purchasing bitcoin now that its value has skyrocketed. Yesterday, Massachusetts Secretary of State William Galvin warned investors to stay away from investing in bitcoin, as he considers it a financial bubble that is a gamble for investors.
Galvin stated: “It’s simply a creation of a vehicle which doesn’t exist backed by any government, there’s not entity that supports it, so if it collapses, it’s gone….It’s just not a good idea.”
Last week, cryptocurrency marketplace NiceHash announced that it suffered a security breach when an intruder was able to access NiceHash’s payment system through a “sophisticated social engineering” attack and whisked away the contents of its Bitcoin wallet, which contained 4,700 bitcoins. The estimated value of those 4,700 bitcoins? $64 million. $64 million gone in a flash.
According to NiceHash, the security breach involved a compromise of its website. It stopped operations for 24 hours and is investigating the incident. It is advising users to change all of their online passwords as it is unclear what additional data was obtained through the attack.