Menu
Bitstamp reopens after attack shuttered exchange

Bitstamp reopens after attack shuttered exchange

The bitcoin exchange is running on new hardware and using Amazon Web Services

Bitstamp resumed operations Friday after an attack earlier in the week resulted in the loss of 19,000 bitcoins and forced the exchange to close.

"Our team has been working day and night to rebuild and restore security to the Bitstamp site so customers can resume transacting with us quickly, safely, and confidently," wrote CEO Nejc Kodri in a blog post on Friday announcing the return of the service.

During the shutdown, which began Monday, the company rebuilt its website, deployed new hardware, migrated its operations to Amazon Web Services and implemented multisignature transactions, a security measure designed to make stealing bitcoins more difficult.

"While this decision means we have not been able to provide you with services for a number of days, we feel this extra measure of precaution was in the best interest of our customers," Kodri wrote.

Hackers made off with US$5 million and targeted operational or hot wallets, which allow people to conduct transactions instantly.

During the incident, Bitstamp reassured customers that their bitcoins were safe and that it could cover the lost virtual currency. The company said most of its currency is kept in storage systems not connected to the Internet. Other exchanges have folded after hackers drained their accounts.

Fred O'Connor writes about IT careers and health IT for The IDG News Service. Follow Fred on Twitter at @fredjoconnor. Fred's e-mail address is fred_o'connor@idg.com

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags securityBitstampinternet

Featured

Slideshows

Reseller News launches inaugural Hall of Fame lunch

Reseller News launches inaugural Hall of Fame lunch

Reseller News welcomed 2015 and 2016 inductees - Darryl Swann, Dave Rosenberg, Gary Bigwood, Keith Watson, Mike Hill and Scott Green - to the inaugural Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed how the channel can collectively work together to benefit New Zealand, the Kiwi skills shortage and the future of the industry. Photos by Maria Stefina.

Reseller News launches inaugural Hall of Fame lunch
Educating from the epicentre - Why distributors are the pulse checkers of the channel

Educating from the epicentre - Why distributors are the pulse checkers of the channel

​As the channel changes and industry voices deepen, the need for clarity and insight heightens. Market misconceptions talk of an “under pressure” distribution space, with competitors in that fateful “race for relevance” across New Zealand. Amidst the cliched assumptions however, distribution is once again showing its strength, as a force to be listened to, rather than questioned. Traditionally, the role was born out of a need for vendors and resellers to find one another, acting as a bridge between the testing lab and the marketplace. Yet despite new technologies and business approaches shaking the channel to its very core, distributors remain tied to the epicentre - providing the voice of reason amidst a seismic industry shift. In looking across both sides of the vendor and partner fences, the middle concept of the three-tier chain remains centrally placed to understand the metrics of two differing worlds, as the continual pulse checkers of the local channel. This exclusive Reseller News Roundtable, in association with Dicker Data and rhipe, examined the pivotal role of distribution in understanding the health of the channel, educating from the epicentre as the market transforms at a rapid rate.

Educating from the epicentre - Why distributors are the pulse checkers of the channel
Kiwi channel reunites as After Hours kicks off 2017

Kiwi channel reunites as After Hours kicks off 2017

After Hours made a welcome return to the channel social calendar last night, with a bumper crowd of distributors, vendors and resellers descending on The Jefferson in Auckland to kickstart 2017. Photos by Maria Stefina.

Kiwi channel reunites as After Hours kicks off 2017
Show Comments