Comment Inexperienced exchange providers (Score 5, Insightful) 232
This is not the fault of the currency. It is a fault of the exchange provider and the users of the currency really need to be careful in who they put their trust.
I'm sorry but noone without a great deal of development experience should be writing a Bitcoin exchange or any other type of financial exchange exposed to the internet. The attackers got hold of the unencrypted wallet? Why would an exchange wallet ever be unencrypted? Why is there a single wallet in the first place? Why not have seperate wallets per user account encrypted with their own passphrase such that the site operator doesn't even have access? Maybe a master password override to decrypt but never stored online etc.
Why is the wallet stored on the webserver in the first place? Why aren't funds transfered to offline storage on a regular basis? I could go on.