Sir Richard Branson is also understood to be among the investors, no doubt as a way to further publicise his Virgin Galactic space travel company, which accepts Bitcoins stored on BitPay and other such platforms.īitPay currently processes $1m per day in Bitcoin payments from over 30,000 merchants, 50% of whom are in the US, with 30% in Europe and 20% across the rest of the world.
The attack apes the earlier hack versus the Mt Gox trading exchange where millions of dollars’ worth of Bitcoins were previously stored, and calls into question the whole future of crypto-currencies such as these, which some smaller corporates and tech companies have tentatively begun to accept as a valid virtual payment method.ĭespite these concerns the BitPay digital start-up raised $30m from Index Ventures, with additional funding from Horizons Ventures, Founders Fund, Felicis Ventures, RRE Ventures, TTV Capital and other venture capital firms, adding to the $2.7m raised last year when it launched. “The attackers had already accessed and destroyed all data on the hosted virtual machines and we are currently in the process of identifying the extent of the attack and impact on user’s funds.” “As soon as the administrator of Doge Vault was alerted, the service was halted,” said the online statement dated 11 May. Some Doge Vault users on social media said large amounts of Dogecoins were moved off the site just before the lock down, with many last minute transfers of the crypto-currency being traced to one wallet that now holds 121m virtual coins. The Doge Vault crypto-currency repository released a statement at the start of the week admitting a large data loss event had occurred and that it had detected hackers tampering with wallet funds before the site was shut down as a precautionary measure.
Bitpay doge series#
Though it will almost certainly generate interest online - Aron's September tweet generated considerable traction - whether it actually pays off remains to be seen.Digital currency start-up BitPay has been valued at US$160m following a Series A funding round that has raised $30m for its future development, but simultaneously the Doge Vault site where many people store holdings of the Dogecoin crypto-currency has been raided with potential losses of 121m virtual coins, worth $56,000, being reported. Read more: Cryptocurrency pump-and-dump schemes: Everything you should know about these scamsĪMC's decision to accept payment in Dogecoin pulls together some strange financial stories that have been a hallmark of 2021. In one tweet, Musk shared an image of a fake magazine called "Dogue" with a dog-themed cover. Beyond boosting its short-term value, Musk's promotion has helped Dogecoin become a part of the popular lexicon. In January, the value of Dogecoin rose more than 300% over the course of a few days - a swing attributed, in part, to promotion on Twitter from Elon Musk. The decision to accept Dogecoin can be seen as another effort in that vein. The company has worked, with mixed results, to harness investors' energy and enthusiasm in " meme stocks" in a variety of ways including the introduction of AMC Investor Connect and the announcement to accept Bitcoin by the end of 2021. Since being caught up in a stock market frenzy initiated by traders coordinating in a Reddit forum, AMC's stock has experienced wild fluctuations. Do you think AMC should explore accepting Dogecoin?- Adam Aron September 21, 2021 I hear from many on my Twitter feed we should accept Dogecoin too. By year-end 2021, AMC will take Bitcoin, Etherum, Litecoin and Bitcoin Cash for online payments. I sincerely want to hear your opinion, via this Twitter Poll.
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