About $1.18 million worth of Bitcoins were stolen when Inputs.io was hacked, said a report from Venture Beat.
Hackers have infiltrated Inputs.io Bitcoin wallet, and in the process, managed to steal 4,100 Bitcoins, which costs $1.18 when converted to current prices for the online alternative currency.
A Bitcoin wallet service, like the one fueled by Inputs.io, is a service that allows its owner to send and receive Bitcoins hassle-free. Since it has 20 different ways in protecting the Bitcoins, including bcrypted passwords, location-based authorization, SSL encryption, and a cold storage system, it was known to be the safest and most protected wallet created ever.
However, hackers proved that those security measures were not adequate to protect Bitcoins wallets because they were able to embezzle Bitcoins on Oct. 26.
Inputs.io posted on its site, "Two hacks totaling about 4,100 BTC have left Inputs.io unable to pay all user balances. "The attacker compromised the hosting account through compromising e-mail accounts — some very old and without phone numbers attached, so it was easy to reset. The attacker was able to bypass 2FA due to a flaw on the server host side."
The company, fortunate for some, was able to retrieve some Bitcoins making its customers get a partial reimbursement. However, nothing more than that can be made as of the moment because the company doesn't have enough funds to settle up with everyone. In fact, Inputs.io divides the Bitcoins it has on a sliding scale.
Inputs.io's notice said, "I know this doesn't mean much, but I'm sorry, and saying that I'm very sad that this happened is an understatement."
Bitcoin, also called a cryptocurrency, is decentralized and uses cryptography to manage dealings and avoid one from double-spending.
Bitcoins use is highly increasing today, because with the use of this cryptocurrency, one can buy things, even cars.
Conversely, at any rate, Bitcoin is still unstable, much more if you will keep it in Inputs.io. It's not just the right locker for that.
© 2025 HNGN, All rights reserved. Do not reproduce without permission.
