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May 14, 2012

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1.

Nothing extraordinary going on here - if you’ve got a lot of digital cash sitting on a public web server it’s obviously going to get stolen from time to time.

For most purposes you don’t need to leave that much cash lying around on the public internet, especially since you can now secure your money with multiple keys, one of which can be on a computer you disconnect from the internet. (Armory has a nice UI for this.)

The exchanges are a special case as they need to pay out a lot of money in real-time with no human intervention, but there’s plenty more these guys could have been doing to reduce the risk. Doubtless they’ll do more in the future, or get replaced by exchanges run by people who are better at this stuff.

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