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All Bitcoins and Litecoins gone: Polish Bitcoin exchange hacked

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After a week without any announcement of major heists in the Bitcoin world – the last bad news came from the Czech Republic -, the Polish exchange revealed it was hacked. As a consequence, the customers’ Bitcoin and Litecoin wallets have been emptied, Coindesk reports.

The incident was reported to the authorities and the platform temporarily suspend all activities while the investigation carries on, according to a statement published on Bidextreme’s website:

As a result of a hacker attack, our portfolio of BTC and LTC was robbed. This fact was reported to law enforcement.

BTC and LTC belonging to all users were stolen. Should the [digital currency] be retrieved, it will be returned to the users according to the balance from 17th November 2013. The users’ funds which were deposited on the platform’s bank accounts are safe.

So far, the amount of cryptocurrency stolen is a mystery. However, this attack could interfere with the development of Poland’s Bitcoin market, some locals said after the attack that happened on 18th November.

A statement released by Mariusz Pilas, chief executive of Magnus Ltd, which owns, reveals the platform’s development plans will now have to wait due to this hack. “We deeply regret that we need to temporarily suspend the platform whose [market] potential had been developing at an impressive growth rate. This caused a great financial loss for us as well”, Pilas said.

According to Magnus’ representative, the company has already begun to return the users’ funds deposited in Polish zloty (PLN) on the platform’s bank account. Luckily, Magnus Ltd has a total worth that covers the budget of and the value of the stolen digital currency “many times”.

The Economic Crimes Department of the Municipal Police in Olsztyn is in charge of the investigation. However, the case could be complicated to solve due to the fact that Bitcoin’s legal status is still unknown in Poland.

Maria is an experienced journalist currently living in the UK. She has been writing about Bitcoin and the altcoin universe since 2013. She is also a member of the Lifeboat Foundation's New Money Systems Board and a big cryptocurrency supporter.

View all Posts by Maria Santos

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