Bitcoinica

This is the approved revision of this page, as well as being the most recent.

Was an online service that enabled leveraged speculation in its contract-for-difference (CFD) market against the Bitcoin to USD (BTC/USD) exchange rate.

HistoryEdit

The service was launched on September 8, 2011. On March 1st, 2012 the site suffered a significant financial loss when a web hosting had an internal security breach that gave the attacker access to a wallet in which Bitcoinica stored funds. More than 43K bitcoins were stolen by the attacker. The operator provided a statement that reserves were sufficient to cover the loss.

Announced on April 20, 2012 was that Bitcoinica had "reorganized" and was now operated as Bitcoinica LP and had become a registered Financial Services Provider.

On May 11, 2012 Bitcoinica suffered for the second time a security incident in which a large amount of coins were stolen from its hot wallet.

On August 1, 2012 the Wendon Group investment fund as creditor to Bitcoinica LP announced that it will appoint a receiver under New Zealand law.

SourceEdit


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