In response to the news that another Bitcoin company has been hacked and $1 million was stolen, Amichai Shulman, CTO of Imperva has the following comments:

“I think that the interesting part of the story from our perspective is that the perpetrators used a DoS attack to mask their true intentions and the true target of the attack.

Regarding the consequences to Bitcoin, it turns out that the same characteristics that made this payment system so popular are the ones that now prevent people from getting their stolen money back. A potential deterrent for such events would be to introduce a black-listing mechanism into the Bitcoin protocol which would prevent people from cashing out on stolen wallets (which would take out the incentive for stealing them in the first place – assuming that BCs are not traded into money before the theft is detected).

For now, all that victims could do is sit back and watch how their stolen Bitcoins are being anonymously traded (since all transactions in Bitcoin are public).”

 

imperva

Imperva is a pioneer and leader of a new category of business security solution that protects critical applications and data from theft, insider abuse, and fraud; and also streamlines regulatory compliance. We provide a comprehensive solution for monitoring and controlling all data usage and business transactions across the data center, from storage in a database or on a file server to consumption through applications.

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