TradeFortress, who is Australian, told the Canberra Times that he won't be reporting the incident to the police because of the "extremely limited actions" they could take, given the difficulty of tracing the currency.While normally I would agree with him, I think that due to the high value nature of the crime, the AFP would likely investigate along with the FBI. We could see international cooperation in a case as big as this.
Bitcoin price historically dropped to ~ $14,000, but later that day it reaches $16,250 15 December 2017 $17,900 Bitcoin price reached $17,900 22 December 2017 $13,800 Bitcoin price loses one third of its value in 24 hours, dropping below $14,000. 5 February 2018 $6,200 Bitcoin's price drops 50 percent in 16 days, falling below $7,000. Why Short Contract Holders are Losing out. Holders of short contracts of Bitcoin and other major cryptocurrencies like Ethereum and Ripple have lost out massively over the past week, especially as XRP, the native cryptocurrency of Ripple, recorded a three-fold increase in value and ETH, the base currency of the Ethereum network, demonstrated decent gains throughout the same period. A bitcoin user who calls himself TradeFortress says more than 4,100 bitcoins worth about $1.1 million have been robbed from his website. The stolen bitcoins are owned by the users of his website Beyond those two high-profile situations, 2013 saw a number of huge Bitcoin heists from exchanges, including the thefts at the Sheep Marketplace (96,000 bitcoins), GBL and Tradefortress. With the cash value of Bitcoin skyrocketing, these may turn out to be among the most financially costly thefts of the year, Brandt pointed out. Their value is determined by the number of users and investors. Using a program like the Bitcoin Fortress system, you can buy and sell currencies. The idea is that you can buy them when they are low in value, then sell them off when they rise in value. You collect the difference as pure profit. How Does Bitcoin Fortress Work?
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