Welcome to the latest edition of the NewsBTC Weekly Bitcoin Recap, where we highlight our top stories of the week. Let’s take a look at the biggest headlines for the week of February 15-21, 2015.
1. Chinese Bitcoin Exchange Bter Hacked – as reported on February 15th.
Popular Chinese Bitcoin exchange Bter went offline after being struck by a 7,170 BTC theft.
The incident first came to the spotlight when some of the Bter users noticed a number of elite transactions moving from Bter’s cold wallet to a random Bitcoin wallet address.
2. Third US Marshals Service Bitcoin Auction to Take Place in March – as reported on February 18th.
Another 50,000 of the Silk Road bitcoins are scheduled to be auctioned off by the US Marshals service on March 5th. This auction is set to be the third in a string of auctions selling off the coins that were at one point held by Ross Ulbricht.
The auction will take place from 8 AM to 2 PM Eastern Standard Time, and all participants are required to pre-register. And like in the previous auction, the bitcoins will be sold in smaller blocks, ranging from 2,000 to 3,000 bitcoins per block.
3. Canadian Bitcoin Exchange CAVIRTEX Ceases Business Operations – as reported on February 18th.
Canadian Bitcoin exchange CAVIRTEX announced to freeze its trading operations, citing security concerns.
According to the company’s Feb 17th blogpost, their older database, which included details related to 2FA secrets and hashed passwords, was breached recently. Following the incident, CAVIRTEX froze active trading operations on its platform and decided to reimburse all customers’ funds.
4. Ex-Fed Joins Ripple Labs as General Counsel – as reported on February 19th.
Payment exchange network Ripple Labs recently appointed Norman Reed as its general counsel.
A law graduate from Columbia University, Reed started his career at a large international firm where he worked for three years. He later joined the prestigious Federal Reserve Bank of New York.
With an ex-Fed chairing as their legal mentor, Ripple Labs is hoping to build an ideal framework where regulations and innovations could coexist peacefully.