Bitcoin is the digital peer-to-peer currency commonly used for purchasing games and other goods and services across the web. Compared to physical currency, it has its advantages. Most importantly, it’s decentralized—in other words, not tied to any banks or credit systems—so it’s globally accepted and isn’t subject to the same market fluctuations as physical cash. However, it is subject to hackers.
Last week, hacker-thieves stole a total of 46,703 BTC (Bitcoin, for short) from eight digital wallets connected to the Bitconica trading exchange, the BTC equivalent of the stock exchange. At the time of the heist, the exchange rate was $4.70 per Bitcoin—down from BTC’s $32 peak—putting the total amount of real money lost at about $200,000. Not bad for not having to rob a real bank.