$1.2M Hack Shows Why You Should Never Store Bitcoins on the Internet

“TradeFortress says that this was a social engineering attack, meaning that the attacker masqueraded as someone he wasn’t in order to get access to the site’s systems on cloud-hosting provider Linode. ‘The attack was done through compromising a chain of email accounts which eventually allowed the attacker to reset the password for the the Linode server,’ he said.  The hacker’s first step was recovering an email address for an account that TradeFortress set up six years ago.  The ‘attacker rented an Australian server to proxy as close to my geographical location so it won’t raise alarms with email recoveries,’ TradeFortress said in a forum post.”

http://www.wired.com/wiredenterprise/2013/11/inputs/

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