14 DAY TRIAL // Last week, we reported on a data breach that forced Bitcoin trader ShapeShift to temporarily shut down operations. In an update provided on Reddit, ShapeShift CEO Erik Voorhees says the attacker had help from a company employee.
"Since the investigation into the ShapeShift hack last week started, we had suspicion that someone previously on the team was involved, and that this person assisted an outside hacker. We are confident now that is is indeed the case," Mr. Voorhees writes.
He also goes on to reveal that they hired a forensics investigator from LedgerLabs, who's been helping them uncover new evidence from the attack.
ShapeShift's CEO adds they've fixed many vulnerabilities, patched some possible attack vectors, and have been resolving customer refunds still pending.
As we initially reported, no ShapeShift customer money was stolen in the original attack, mainly thanks to ShapeShift's service design that alerted the staff of the intrusion.
The company was very quick to take down its service and then report the attack to its users. At the moment of writing this article, ShapeShift's service is still down and will remain so until the team decides it's safe to reinstate their service.
Mr. Voorhees has also promised a thorough post-mortem report on how the attack was carried out. There is no timeline of when ShapeShift will come online again.