Feeds

EFF backs away from Bitcoin

As the Mt Gox outage drags on

Providing a secure and efficient Helpdesk

The Electronic Frontiers Foundation in the US has decided it will no longer accept donations via Bitcoin.

While not itself a member of Bitcoin, the organization had been accepting donations via the currency through an account set up by an anonymous third party. However, only coincidentally following the Bitcoin Mt Gox hack-and-crash, the EFF has reversed its stance.

It cited questions about the legal standing of the crypto-currency with relation to “securities law, the Stamp Payments Act, tax evasion, consumer protection and money laundering”. Further, it was concerned that its acceptance of Bitcoins – through an account it did not establish – was being touted as EFF endorsement.

Mt Gox, meanwhile, has blamed its security woes on an unnamed third party, stating that “someone” who performs audits on its system, and had read-only access to their database, had their system compromised.

The exchange re-opening, well beyond Mt Gox’s original schedule, will now not happen until after users have been given the chance to recover their accounts to pre-attack states.

Account holders will have to provide proofs like transaction records or (this is a peach) “notarized documentation”. The exchange won’t open at least until 24 hours after Mt Gox has decided users have had long enough to recover their accounts.

The organization has also posted to the Bitcoin forums claiming that the attack on its systems is a “force majure” event, giving it the right to reverse the trades. The Mt Gox site is currently dropping connections, so El Reg can’t tell you what the organisation’s terms and conditions have to say about force majure. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
SMASH the Bash bug! Apple and Red Hat scramble for patch batches
'Applying multiple security updates is extremely difficult'
Apple's new iPhone 6 vulnerable to last year's TouchID fingerprint hack
But unsophisticated thieves need not attempt this trick
Hackers thrash Bash Shellshock bug: World races to cover hole
Update your gear now to avoid early attacks hitting the web
Oracle SHELLSHOCKER - data titan lists unpatchables
Database kingpin lists 32 products that can't be patched (yet) as GNU fixes second vuln
Who.is does the Harlem Shake
Blame it on LOLing XSS terroristas
Researchers tell black hats: 'YOU'RE SOOO PREDICTABLE'
Want to register that domain? We're way ahead of you.
Stunned by Shellshock Bash bug? Patch all you can – or be punished
UK data watchdog rolls up its sleeves, polishes truncheon
Ello? ello? ello?: Facebook challenger in DDoS KNOCKOUT
Gets back up again after half an hour though
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.