![]() The next morning, the hacker again emailed Pair as Krohn, requesting another 3,000 bitcoins to be sent to SecondMarket at a completely different wallet address.Īfter the funds were transferred from Bitstamp, Pair in fact confirmed the transaction in an email to Krohn and SecondMarket’s Gina Guarnaccia, who immediately denied that her company purchased the bitcoins also that she sent a previous email verifying the 3,000 bitcoins and the wallet address. That transaction was sent from the company’s wallet on Bitcoin exchange Bitstamp. It was sent about an hour later and shortly after, Pair received another email requesting he send another 1,000 bitcoins to the same address. 11 someone pretending to be Krohn emailed BitPay CEO Stephen Pair demanding the transfer of 1,000 bitcoins to SecondMarket at an identified wallet address. ![]() Not only did the hacker impersonate Krohn, he suspects the hacker also acquired details about the procedure of BitPay’s transactions with its customers, like SecondMarket’s advance payment immunity. Krohn has reason to believe that his login credentials were lifted when he fed them in to access the supposed document. Coincidently at the time they were in consultations about the purchase of BitPay’s magazine business by yBitcoin, as claimed by the documents filed by BitPay. Soon after, Krohn received an email allegedly from Bailey requesting he reviewed the modifications made in a Google document. Verified by the documents owned by the Atlanta Business Chronicle, in this massive con pulled by a hacker pretending to be BitPay CFO Bryan Krohn, sent fake emails from his account in December sanctioning the transfer of 5,000 bitcoins in three separate transactions to SecondMarket from whom it does not require advance payment.įirst one to be compromised was the email account of David Bailey, founder of the quarterly yBitcoin. BitPay the Atlanta-based Bitcoin payment processor had been hit by a massive phishing attack costing the company $1.8 million.
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