Bitcoin Forum

After a month of battling several attacks on Shapeshift’s trading platform, the company announced a full shutdown of their website to be reconstructed with improved security due to missing funds which tallied up to $230,000. The platform should be back on April 20.


See here more info : http://cointelegraph.com/news/shapeshift-rebuilds-after-losing-230000-promised-to-be-back-wednesday

Shapeshift.io is back, but there are only 2 coins for exchange at the moment, BTC and Ether, I hope they can allow us to exchange multiple altcoins soon :D

Yes BTC↔ETH is the only one available for exchange for now, I think they must be doing security checks of all the other wallets before putting them on for business and they might remove some of the lesser used one and maybe add a few new ones.

this is a good news making it sure that trading can be smoothly done and traders security would not be sacrifice because of those many useless coin and hope after updating those coins that have good value it would be open again for trading. eth and btc not bad price is stable and fluctuate but not much.

oh even that $2,00,000 is really big for any exhanger and i think they loss this amount in the form of altcoins rather than btc. So they make require few weeks to buy some alts from what left in their bitcoin wallet. It is bad news than well known exchanger got hacked.

Its very good news to me, if such a straightforward and fast process of converting coins in anonymous way is back. Its an asset to the bitcoin world, as you don't need to leave your coins in this exchange. And if we are on this topic an advice is never bad, remember not leave your coins in any exchange to hold them for you. Tomorrow they may be gone.

I always thought the best exchanger and when I saw the news or wanted to believe, but the site does not disappeared and will continue for the good of all

at least I'll get to do my currency exchange easy way :D

I hope they start, or already have started, legal procedings against the 'rogue employee'
Crypto currency is money, if a bank employee told a thief how to steal cash from the bank, they would be arrested, the same should happen here.

I hope they have made lots of improvements, it takes a long time to regain trust though

They're lucky the heist happened this early in their business. It wasn't till they called in professional security experts they got to the bottom of how the coins were stealing. Lesson: don't skimp on security, it really is worth paying for expertise.

good side of an instant exchanger is when they got hacked,and bitcoin stolen, none of their customers's btc will going to be seized by the hacker, and they don't have responsibility about it,such a fast recover

that's good news , I didn't expect that they will be back at least in this month
hopefully we will see more alts in the site cause at this time I'm not interested in ETH as I'm interested in the other alts

Shapeshift charges heavy fees - about  0.5 - 1%. You can buy alts on an exchange for a fee of 0.25% or less.

Wow that was a heavy loss for them. I am curious how they will recoup now.
Forcing even higher fees (which will make users go away) or something else?

Yeah that part is not clear to me. Perhaps some people don't want to take the effort to make an account on an exchange. But they lost over 200k, which means the service was heavily used.

Them putting up these heavy fees/charges is not a surprise. They are trying to recoup their losses somehow and this to them is one way in doing it but at the cost of the customer. They will lose a lot of business this way in the long run.

The loss amount is now clear and it's more than I thought and surprisingly their really back so god move by them showing how dedicated they are for things to work out. Personally I do like the interface before as opposed to the new one (it's has a dry-ish look now as opposed to professional looking one before), good thing there's a switch button available. Is there any news regarding why they only offer two cryptocurrency exchanges?

wow that is a big amount lost.
i checked their new service today and it looks like they are up and running, and although there is only one exchange (btc <-> ETH) it looks like they have already made a lot of transaction (166BTC as of now).

good to see them come back.

More altcoins have been added for exchange, that is good to see, hope shapeshift can add in dogecoin as soon as possible, thank you :D

Good to see they're slowly getting back in business. There aren't too much of customer damage so I guess they'll have their real good rep back. They'd have to double up on spending for advertising to get customers though.

They've always had heavy fees. It's the price of anonymity - some people simply don't want to give their name and email to an alt exchange for some reason.

Well yes and thing is there is n real competitor which can handle the volume shapsshift does. So in a way they can higher the fees without being afraid they lose their customers.