Bitstamp Says Close to 19,000 BTC Lost in Hot Wallet Attack, Customers to Be Reimbursed in Full
Bitstamp CEO Nejc Kodrič has issued an update on the recent suspension of service, informing customers that "on January 4th, some of Bitstamp’s operational wallets were compromised, resulting in a loss of less than 19,000 BTC."
The value of the stash is equal to approximately $5.1 million. However, customers will hopefully get their money back:
"We would like to reassure all Bitstamp customers that their balances held prior to our temporary suspension of services will not be affected and will be honored in full."
He added that the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term is working with law enforcement officials to investigate the incident. The decentralized nature of cryptocurrency, however, makes it nearly impossible to enforce the coins' safe return.
As to when the service will come back online, he said that the team is working on bringing the site "onto a new safe environment" and that trading should resume in the coming days.
The exchange risks losing market share in the meantime as traders look to test out the volatile markets, and may do so on competing exchanges.
Bitstamp CEO Nejc Kodrič has issued an update on the recent suspension of service, informing customers that "on January 4th, some of Bitstamp’s operational wallets were compromised, resulting in a loss of less than 19,000 BTC."
The value of the stash is equal to approximately $5.1 million. However, customers will hopefully get their money back:
"We would like to reassure all Bitstamp customers that their balances held prior to our temporary suspension of services will not be affected and will be honored in full."
He added that the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term is working with law enforcement officials to investigate the incident. The decentralized nature of cryptocurrency, however, makes it nearly impossible to enforce the coins' safe return.
As to when the service will come back online, he said that the team is working on bringing the site "onto a new safe environment" and that trading should resume in the coming days.
The exchange risks losing market share in the meantime as traders look to test out the volatile markets, and may do so on competing exchanges.