Science Fiction Dictionary
A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z

 

$200K In Bitcoins Stolen

46,000 Bitcoins, amounting to more than $200,000, have been stolen in a clever hack on Linode, a service that allows customers to run virtual machines on remote servers.

Bitcoin is the first digital currency that is completely distributed. The network is made up of users like yourself so no bank or payment processor is required between you and whoever you're trading with. This decentralization is the basis for Bitcoin's security and freedom.

Your Bitcoins can be accessed from anywhere with an Internet connection. Anybody can start mining, buying, selling or accepting Bitcoins regardless of their location.

Take a look at this quick, informative video to learn more about Bitcoin.


(How does Bitcoin work?)

The heist took place in the following manner:

Andresen was using Linode to operate his "Bitcoin Faucet"—a website that doles out small amounts of new coins to users as a way to stimulate interest in the currency. Merak Palatinus was using Linode to communally mint new Bitcoins in a miners pool. Zhou Tong was using Linode to operate a Bitcoin trading site called Bitcoinica. Each also had enough Bitcoins stored on the file system to facilitate daily transactions.

The thief, it seems, was able to obtain customer support privileges which allowed him to find out which customers were holding Bitcoin wallets. The thief was then able to log in to the accounts through a weakness in the Linode manager—which customers use to configure their virtual machines—reboot the machines and change the root passwords. After that, it's take the money and run.

Linode has acknowledged the problem and is working to correct it. For now, Bitcoin value is holding steady at $4.60, perhaps due in part to the fact that Bitcoin's developers are accepting the loss.

If the graphics had been better, this theft might have looked like the heist in Charles Stross' 2007 novel Halting State:

The doors are three times as high as a tall man, carved from giant ebony beams clasped in a frame of some silvery metal... But they're not silvery now - they're glowing dull red, then a bright, rosy pulse of heat lights them up from the outside, and the doors begin to collapse inwards...

In through the smoke marches a formation of monstrous soldiers. They're larger than life and twice as gnarly, prognathous green-skinned jaws featuring tusks capped in gold...

"You're looking at an Orcish war band... The thing behind them is a dragon. They seem to have brought him along for fire support...

Over the space of a minute they denude the floor of the bank, snatching up the treasures that are inexplicably popping into view from the ethereal vaults...
(Read more about Stross' virtual world theft)

Via IEEE Spectrum; see also the Bitcoin site.

Scroll down for more stories in the same category. (Story submitted 3/7/2012)

Follow this kind of news @Technovelgy.

| Email | RSS | Blog It | Stumble | del.icio.us | Digg | Reddit |

Would you like to contribute a story tip? It's easy:
Get the URL of the story, and the related sf author, and add it here.

Comment/Join discussion ( 2 )

Related News Stories - (" Culture ")

Cognify - A Prison Of The Mind We've Seen Before In SF
'So I serve a hundred years in one day...'- Joe Haldeman, 2011.

Robot Preachers Found To Undermine Religious Commitment
'Tell me your torments,' the Padre said, in an elderly voice marked with compassion. - Philip K. Dick, 1969.

Gaia - Why Stop With Just The Earth?
'But the stars are only atoms in larger space, and in that larger space the star-atoms could combine to form living matter, thinking matter, couldn't they?' - Robert Castle, 1939.

Splendid View Of Eclipse From Orbit Visualized And Repurposed By Arthur C. Clarke
'The area affected was five hundred kilometres across, and perfectly circular.' - Arthur C. Clarke, 1953.

 

Google
  Web TechNovelgy.com   

Technovelgy (that's tech-novel-gee!) is devoted to the creative science inventions and ideas of sf authors. Look for the Invention Category that interests you, the Glossary, the Invention Timeline, or see what's New.

 

 

 

 

Science Fiction Timeline
1600-1899
1900-1939
1940's   1950's
1960's   1970's
1980's   1990's
2000's   2010's

Current News

Automatic Bot Traffic Is 38 Percent Of HTTP Requests
'there were so many worms and counterworms loose in the data-net...'

Shanghai Guidelines For Humanoid Robots
'Now, look, let's start with the three fundamental Rules of Robotics...'

Desktop TARS Robot From Interstellar
What's YOUR sarcasm setting?

Robots Can Now Have Smiling Faces With Human Skin
'I am a cybernetic organism...'

Virtual Rat Predicts Actual Rat Neural Activity
'..the synthetic intellects at the Place of Knowledge had far outstripped the minds of men.'

GoSun EV Solar Charger Drapes Onto Your Car
'...six square yards of sunpower screens.'

Rizon 4 Ironing Robot
'But after washing and drying clothes had to be smooth - free from fine lines and wrinkles ...'

Cognify - A Prison Of The Mind We've Seen Before In SF
'So I serve a hundred years in one day...'

Robot With Human Brain Organoid - 'A Thrilling Story Of Mechanistic Progress'
'A human brain snugly encased in a transparent skull-shaped receptacle.'

Goodness Gracious Me! Google Tries Face Recognition Security
'The actuating mechanism that should have operated by the imprint of her image on the telephoto cell...'

With Mycotecture, We'll Just Grow The Space Habitats We Need
'The only real cost was in the plastic balloon that guided the growth of the coral and enclosed the coral's special air-borne food.'

Can A Swarm Of Deadly Drones Take Out An Aircraft Carrier?
'The border was defended by... a swarm of quasi-independent aerostats.'

WiFi and AI Team Up To See Through Walls
'The pitiless M rays pierced Earth and steel and densest concrete as if they were so much transparent glass...'

Climate Engineering In California Could Make Europe's Heat Waves Worse
'Pina2bo would have to operate full blast for many years to put as much SO2 into the stratosphere as its namesake had done in a few minutes.'

Optimus Robot Will Be A Good Nanny, Says Musk
'Nanny is different,' Tom Fields murmured... 'she's not like a machine. She's like a person.'

ESA To Build Moon Bases Brick By Printed LEGO Brick
'We made a crude , small cell and were delighted - and, I admit, somewhat surprised - to find it worked.'

More SF in the News Stories

More Beyond Technovelgy science news stories

Home | Glossary | Invention Timeline | Category | New | Contact Us | FAQ | Advertise |
Technovelgy.com - where science meets fiction™

Copyright© Technovelgy LLC; all rights reserved.