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Bitstamp halts trading after £3.5m theft

first_img whatsapp Share Express KCS BITCOIN exchange Bitstamp yesterday said it suspended trading after a security breach led to a loss of 19,000 bitcoins. The loss is equivalent to just under £3.5m.“This breach represents a small fraction of Bitstamp’s total bitcoin reserves, the overwhelming majority of which are held in secure offline cold storage systems,” Bitstamp said. “We are working to transfer a secure backup of the Bitstamp site on to a new safe environment and will be bringing this online in the coming days.”Bitstamp’s services wil remain suspended while the firm investigates the breach.In February 2014, exchange Mt. Gox closed down after a theft of Bitcoin worth £280m at the time. It eventually filed for bankruptcy.Shai Heffetz, the chief executive of brokers InterTrader, said that ongoing setbacks were unlikely to lose Bitcoin popularity.“This latest blow doesn’t mean Bitcoin will go away anytime soon. Even without the backing of regulation, digital currencies are increasingly gaining favour with those who realise the benefits of side-tracking traditional currencies,” Heffetz said. Show Comments ▼ Bitstamp halts trading after £3.5m theft Tuesday 6 January 2015 8:35 pm whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com Tags: NULL last_img read more

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