Hackers steal more than a million dollars worth of Bitcoin

Bitcoin eWallet Inputs.io was left unable to pay an undisclosed number of user balances after the service was hacked on Thursday and relieved of 4,100 Bitcoins. That translates to about $1.1 million.

“The attacker compromised the hosting account through compromising email accounts (some very old, and without phone numbers attached, so it was easy to reset),” according to a post on the Inputs.io website. “The attacker was able to bypass [two-factor authentication] due to a flaw on the server host side.”

Bitcoins are a form of peer-to-peer internet currency – also known as cryptocurrency – and Inputs.io built something of a reputation in the Bitcoin-trading community for its security, which includes bcrypted passwords, two-factor authentication and GPG authentication.