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

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

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Fred O'Connor

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?