PGP Could Have Prevented BitPay Phishing Attack


Two weeks ago, it was revealed that BitPay suffered a phishing attack in late 2014, costing the company $1.8 million USD. According to documents obtained by the Atlanta Business Chronicle, a hacker gained control of BitPay CFO Bryan Krohn’s email account, and somehow got access to an account where he authorized the transfer of 5,000 bitcoins.

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Bitpay_article_cover_BitcoinThis event seems to be the latest in a series of issues BitPay has been having. These problems include layoffs, high-cost and low return marketing expenses, and an inability to get Bitcoiners to use the digital currency for retail purchases.

The hacker stole the credentials from Krohn, and used his accounts

Read more ... source: TheBitcoinNews