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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags internetBitstamp

Events

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments