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Bittrex Faces Lawsuit For $1 Million In Stolen Bitcoin

Roland James

Summary: Cryptocurrency exchange, Bittrex, is facing a lawsuit for allegedly allowing the theft of user Gregg Bennet’s Bitcoin, according to a press release. Bennet lost nearly $1 million in Bitcoin from the theft. He believes that Bittrex violated their own security standards which allowed the hackers to access his cryptocurrency back in April. The lawsuit proposes ...

Cryptocurrency exchange, Bittrex, is facing a lawsuit for allegedly allowing the theft of user Gregg Bennet’s Bitcoin, according to a press release.

Bennet lost nearly $1 million in Bitcoin from the theft. He believes that Bittrex violated their own security standards which allowed the hackers to access his cryptocurrency back in April. The lawsuit proposes that Bittrex committed “unfair and deceptive acts that misrepresented its level of security." Bennet claims to have realized his account was under attack and contacted the exchange, but due to a two hour delay the attackers got away with the funds.

By Roland James

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