Bitstamp shuttered for five days after attack
Posted by: Timothy Weaver on 01/10/2015 06:04 AM
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Bitcoin exchanges continue to be under attack.
CEO Nejc Kodri said in a blog post after the service was resumed on Friday: “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.”
While the service was shut down, the company rebuilt its website, deployed new hardware, migrated its operations to Amazon Web Services and implemented multi-signature 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.
The exchange suffered a loss of $5 million. The attack targeted operational or hot wallets, which allow people to conduct transactions instantly.
Bitstamp reassured customers that their bitcoins were safe and that it could cover the lost virtual currency.
CEO Nejc Kodri said in a blog post after the service was resumed on Friday: “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.”
While the service was shut down, the company rebuilt its website, deployed new hardware, migrated its operations to Amazon Web Services and implemented multi-signature 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.
The exchange suffered a loss of $5 million. The attack targeted operational or hot wallets, which allow people to conduct transactions instantly.
Bitstamp reassured customers that their bitcoins were safe and that it could cover the lost virtual currency.
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