Danish bitcoin exchange Bitcoin Payment Solutions (BIPS) is the latest victim of Bitcoin website hacks.
The BIPS has temporarily shut down the consumer its consumer wallet initiative after hackers reportedly steal Bitcoins worth more than $1 million(1200+ BTC).
The company says it will consider reintroducing the wallet with a re-architected security model in order to prevent future cyber attacks.
"All existing users will be asked to transfer bitcoins to other wallet solutions, and users affected by the security breach will be contacted" says the company in their official press release.
This is third Bitcoin website's security breach that we are covering in this month. Earlier this month, we reported that hackers attacked Bitcash.cz and Inputs.io and steal more than $1 in Bitcoins.