A group of cybercriminals cracked Denmark BIPS accounts and stole 1,295 Bitcoins – more than a million dollars in equal. An incident outraged many of Bitcoins owners; they blamed BIPS’ leadership of carelessness and frivolity.

One of suffers who said he’s lost 90 bitcoins has created an online forum to let others sign up for possible legal action against BIPS.

The website made a statement that “BIPS will temporarily close down the wallet initiative to focus on real-time merchant processing business which does not include storing of Bitcoins”.

BIPS founder and CEO Kris Henrikson explained the situation at forums.

“On Nov. 15th BIPS was the target of a massive distributed denial-of-service (DDoS) attack, which is now believed to have been the initial preparation for a subsequent attack on Nov. 17th that overloaded our managed switches and disconnected the iSCSI connection to the SAN on BIPS servers”.

“Regrettably, despite several layers of protection, the attack caused vulnerability to the system, which has then enabled the attacker/s to gain access and compromise several wallets.” – he added.

Affected individuals will be contacted – no matter how many Bitcoins were stored in their wallets – and merchants will be contacted too if automatic conversion of Bitcoin was not enabled, – Henrikson reassured Bit users.

It is third big theft for this month. Another $1.4 million concerned an online wallet service known as And $4 million stolen from Chinese exchange.



  1. Only it wasn’t hackers BIPS staff stole this money from their customers accounts
    and blamed it on fictional hackers. BIPS is a scam company. If you give
    them any amount of Bitcoin to look after its no longer yours


This site uses Akismet to reduce spam. Learn how your comment data is processed.