When Mt. Gox first brought up the issue of “transaction malleability,” the cause of its latest strife, the general response was that it was trying to shift the blame. Then the software glitch became a Trojan Horse for hackers, and all the other major exchanges were subjected to the same undermining attacks.

We can imagine the exchange’s team having a chuckle at that. They scored a victory, of sorts. But it’s been of the Pyrrhic variety.