Speed Reads


Another Bitcoin exchange bites the dust


Let's hope the Winklevoss twins have a backup plan.

Canadian-based Bitcoin exchange Flexcoin shuttered on Tuesday, after hackers stole about $600,000 worth of the digital currency in a Sunday theft.

Flexcoin's losses are a drop in the bucket compared to last month's similar hack of Japan-based exchange Mt. Gox, which lost millions of dollars' worth of the currency and subsequently declared bankruptcy. Still, such vulnerabilities in the exchanges' systems are more ammo for opponents of Bitcoin, who point to the currency's role in criminal activities such as the now-defunct Silk Road drug marketplace.