Skip to main content

$620,000 theft kills another Bitcoin exchange, but Bitcoin prices still rise

Cyber-thieves have delivered a fatal blow to the second Bitcoin exchange in a week – but that hasn’t stopped the value of the embattled cryptocurrency from rising.

Flexcoin, a lesser-known exchange, announced on its website Tuesday that it is shutting down after the theft of 896 Bitcoins, which are worth approximately $625,000 at current exchange rates. The company also revealed the two Bitcoin wallet addresses where thieves transferred the stolen funds.

Recommended Videos

“As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately,” the company said.

The stolen Bitcoins were stored in Flexcoin’s so-called “hot wallet” – a digital wallet connected to the Internet. Users who stored their funds in Flexcoin’s cold storage, where “coins were held offline and not within reach of the attacker,” may contact the exchange to withdraw their Bitcoins. Flexcoin says these customers must verify their identities before funds will be transferred.

Twisting the knife, Flexcoin says all other customers (i.e. those who lost their Bitcoin to the hot wallet heist) will be redirected to the company’s “Terms of Service,” which Flexcoin points out is “a document which was agreed on, upon signing up with Flexcoin.” Flexcoin’s terms explicitly state that “Flexcoin Inc is not responsible for insuring any bitcoins stored in the Flexcoin system.” It adds that customers “agree to not hold Flexcoin Inc, or Flexcoin Inc’s stakeholders, or Flexcoin Inc’s shareholders liable for any lost Bitcoins.”

The shuttering of Flexcoin follows the high-profile collapse of Mt. Gox, once the world’s largest Bitcoin exchange, which claims to have lost some 850,000 Bitcoins (around $460 million), and 2.8 billion yen ($27.6 million) to theft. Unlike Flexcoin, Mt. Gox claims thieves were able to access Bitcoin stored in both its hot and cold wallets – a detail that has become a source of intense debate and contention in the Bitcoin community.

While many commentators and analysts believed the apparent death of Mt. Gox, which last week filed for bankruptcy protection in its home country of Japan, would shake investor confidence in Bitcoin, the price of the cryptocurrency has jumped nearly 30 percent, from a low of less than $500 to about $700 as of this writing.

Andrew Couts
Features Editor for Digital Trends, Andrew Couts covers a wide swath of consumer technology topics, with particular focus on…
The Ioniq 5 is once again eligible for the $7,500 tax credit
2025 Hyundai Ioniq 5

After a brief and confusing absence, the Hyundai Ioniq 5 is once again eligible for the full $7,500 federal tax credit — and this time, it's sticking around (at least for now). So, what happened? Let’s unpack the ride.

The Ioniq 5, a sleek and tech-savvy electric crossover, initially made headlines not just for its design, but for being built at Hyundai’s brand-new Metaplant in Georgia. That domestic assembly qualified it for the EV tax credit under the Inflation Reduction Act (IRA), which requires vehicles to be made in North America with batteries sourced from trade-friendly countries. But early in 2025, the Ioniq 5 vanished from the list. Why? Likely due to its battery packs, which were then still being sourced from SK On’s Hungarian facility.

Read more
Sebastian Stan lays out Bucky’s future after Thunderbolts
Sebastian Stan in Thunderbolts.

There are some spoilers ahead for the ending of Marvel's Thunderbolts. Stop reading now if you don't want to be spoiled.

Earlier this year, Captain America: Brave New World briefly introduced a new direction for James "Bucky" Barnes, a character Sebastian Stan has been playing since 2011 in Captain America: The First Avenger. In Brave New World, the former Winter Soldier apparently retired from being a reformed hero and went into politics by running for Congress. Thunderbolts reveals that Bucky won his election to the House of Representatives. But his stay in Congress was short.

Read more
Jeep Compass EV breaks cover—but will it come to the U.S.?
jeep compass ev us newjeepcompassfirsteditionhawaii  4

Jeep just pulled the wraps off the all-new Compass EV, and while it’s an exciting leap into the electric future, there's a catch—it might not make it to the U.S. anytime soon.
This is a brand new electric version of the Jeep Compass, and being built on Stellantis' STLA platform—the same architecture underpinning models like the Peugeot E-3008 and E-5008—it looks much slicker and packs a lot more inside than previous versions of the Compass.
Let’s start with what’s cool: the new Compass EV is packing up to 404 miles of range on a single charge, a 74 kWh battery, and fast-charging that gets you from 20% to 80% in about 30 minutes. Not bad for a compact SUV with Jeep's badge on the nose.
There are two versions: a front-wheel-drive model with 213 horsepower and a beefier all-wheel-drive version with 375 horsepower. That AWD setup isn’t just for looks—it can handle 20% inclines even without front traction, and comes with extra ground clearance and better off-road angles. In short, it’s still a Jeep.
The design's been refreshed too, and inside you’ll find the kind of tech and comfort you’d expect in a modern EV—sleek, smart, and ready for both city streets and dirt trails.
But here’s the thing: even though production starts soon in Italy, Jeep hasn’t said whether the Compass EV is coming to America. And the signs aren’t promising.
Plans to build it in Canada were recently put on hold, with production now delayed until at least early 2026. Some of that might have to do with possible U.S. tariffs on Canadian and Mexican vehicles—adding a layer of uncertainty to the whole rollout.
According to Kelley Blue Book, a Stellantis spokesperson confirmed that the company has “temporarily paused work on the next-generation Jeep Compass, including activities at” the Canadian plant that was originally meant to build the model. They added that Stellantis is “reassessing its product strategy in North America” to better match customer needs and demand for different powertrain options.
So while Europe and other markets are gearing up to get the Compass EV soon, American drivers might be left waiting—or miss out entirely.
That’s a shame, because on paper, this electric Jeep hits a lot of sweet spots. Let’s just hope it finds a way over here.

Read more