Hackers launch assault against Chinese central bank

The People's Bank of China was hacked on Wednesday in possible retaliation for the country's crack down on the crypto currency Bitcoin.

The attack made the Chinese central bank's website temporarily inaccessible. The website was disabled through a Distribute Denial of Service attack.

The online Bitcoin exchange BTC China was also hacked. The attack follows several measures taken by the Chinese government to limit the use of the virtual currency.

Two weeks ago, China barred financial institutions from handling Bitcoin transactions. Yesterday Bitcoin was hit with a fresh wave of regulation with Bitcoin exchanges banned from accepting new cash inflows.

Bobby Lee, chief executive of BTC China commented:

We’re still operating a Bitcoin exchange in China, legally, and we’re still allowing people to deposit and withdraw Bitcoin and withdraw renminbi.

Bitcoin has dropped sharply falling below $600 (£370).

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