Someone Took $1.75M in Bitcoin from China-based Wallet

Virtual currency exchange BTER says it has lost 7,170 bitcoins, the equivalent of $1.75 million, after an apparent hack into an offline storage system.

A 720 bitcoin reward is being offered "for chasing it back,” states the company’s website. 

BTER said it has shuttered its platform in the wake of the attack and withdrawals for user balances "will be arranged later.”

It remains unclear how the BTER offline vault, or “cold wallet,” was compromised.

The stolen funds were logged through this transaction, the company said. The bitcoins appear to have since been split into a number of separate wallets.

In August, BTER suffered a breach  of its servers, which drained the company of 50m NXT, worth roughly $1.65 million at the time. That time, the exchange was reportedly able to negotiate a partial return of the funds.