Bitcoin crowd-lending platform Loanbase Hacked, 8 BTC Stolen

Loanbase, Inc., a Bitcoin lending startup company, has announced that it recently discovered that it was hacked via a security hole in the WordPress blog and that it resulted in the loss of few bitcoins.

“We've discovered that there was a security breach, which resulted in the loss of roughly around 8 BTC”, the company said in a Facebook post.

It added that the estimate was made on the basis of confirmed breach of 4 user accounts and expects the lost amount not to exceed 20 BTC. It said that the accounts that were compromised did not have two-factor authentication enabled.

“We detected that the unauthorized access of the user accounts occurred early in the morning on February 6th and continued throughout the day”, it added.

Loanbase further clarified that hackers did not gain access to the Bitcoin wallets. However, they were successful to gain access to its SQL database, meaning that sensitive user information (such as: e-mail addresses, phone numbers, names, etc.) may have been leaked.

The company, however, assured its users that it will return all the funds of the users who have had an unauthorized withdrawal.

Moreover, to ensure security, it said that all the passwords have been reset and any withdrawals which were approved, but not processed yet, will all be rejected.

“We're going to implement additional security procedures, which will help with an earlier detection of such breaches”, Loanbase said.