Bitcoin Company Sues Insurer For Coverage Of Hacking Incident
Mealey's (September 17, 2015, 2:32 PM EDT) -- ATLANTA — A global bitcoin processor filed a complaint against its insurer on Sept. 15 in Georgia federal court, asserting breach of contract and bad faith for denial of a claim regarding a loss from the fraudulent transfer of bitcoin that resulted from a December 2014 phishing and hacking incident (Bitpay Inc. v. Massachusetts Bay Insurance Co., No. 1:15-cv-03238, N.D. Ga.).
(Complaint available. Document #24-151015-001C.)
Atlanta-based Bitpay Inc. is a payment processor for bitcoin, a digital currency that is transferred electronically via the Internet...