96,000 Bitcoins Stolen From Sheep, Effort to Track Them Down Underway Online

Millions of dollars worth of BTC

One of the largest heists in bitcoin history is happening right now. 96,000 bitcoins - that's roughly £60m as of the time of writing - was taken from the accounts of customers, vendors and administrators of the Sheep Marketplace over the weekend.

Sheep was one of the main sites that came to replace the Silk Road when it closed in October, but it too has now closed as a result of this theft. It's a little hard to work out exactly what's happened, but Sheep customers have been piecing it together on reddit's r/sheepmarketplace.

Here's what happened: someone (or some group) managed to fake the balances in peoples' accounts on the site, showing that they had their bitcoins in their wallets when they'd actually been transferred out. Over the course of a week the whole site was drained, until the weekend when the site's administrators realised what was happening and shut everything down.

Comments

[Lonely Stalker]

This headline practically writes itself.

[SIV]

Ewetopia

[neoteny]

+1 black sheep

[Boba]

Bitcoin is the future!! It takes a lot to make the Fed seem responsible.

[parkerbce586]

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[Will Nonya]

i'm guessing that their site was built by the same contractors responsible for healthcare.gov.

Sad thing is that this highlights a real vulnerability with digital currency. That being that what governments do slowly to "real" currency happens much more quickly in the digital world.