Inputs.io Breach: Hackers Walk Away With Over $1 Million in Bitcoin

If you want something done right, you should really do it yourself: users of bitcoin wallet provider Inputs.io learned this lesson the hard way yesterday, as hackers made off with 4,100 bitcoins, or roughly $1.2 million dollars at the crypto-currency’s present rate.

Ironically, Inputs.io, was known to boast about its security protocols, going so far as to call itself, “the most secure wallet ever created.”

With a list of 20 security measures stated to be in place in their security FAQ section, including terms like “bcrypted passwords,” “randomized PIN pads,” and “Location based authorization,” it would seem as though the hacker really had their work cut out for them.

Until you find out they just used an old email with no phone numbers attached for authorization. A truly unfortunate (and expensive) mistake for Inputs.io - it seems no matter how many security measures you take, it only takes one misstep to comprise the whole thing.

Inputs.io has placed a message on the website’s landing page stating “two hacks totaling about 4,100 BTC have left Inputs.io unable to pay all user balances” and ends with an earnest (though probably less than comforting) apology, with Inputs.io stating, “I know this doesn’t mean much, but I’m sorry, and saying that I’m very sad that this happened is an understatement.”

The news must have been especially painful yesterday, as bitcoin had reached an all-time high of $306.