ShapeShift Offline After Hack

[Raja_MBZ]

"By design, ShapeShift doesn't hold customer balances, so even in the case of a security breach, there is no customer money at risk. However, a portion of our own hot wallet inventory funds were taken, but nothing that will interfere with operations once our new environment is online. This is also by design.

We've built customer protection into our platform – hacks may be inevitable, but customer losses should not be. Not a cent of customer funds was lost, nor could they have been."

gj.

Very nice job by ShapeShift, as I always say, they are the best ones. I never use any other currency exchange than ShapeShift. Exchange is done within 15 minutes as always, just like now!

[btc_zero_sum]

big up shapeshift!

good to hear was not that bad 

imho shapeshift is still one of the best and most useful services existing in the bitcoin realm

[West man]

Im never use shapeshift.io but i think this is verybad news
hope he save the bitcoin at safety place

I used them in the past and was very fast. The thing is they don't have alot of information to be stolen from users because it was an accountless service. I never signed up for anything on their website but still used their service to exchange my alternative coins for bitcoin on many of occasions.

[yenxz]

Digital currency exchange service ShapeShift is offline after a security incident earlier this week.

A statement posted to Reddit by ShapeShift CEO Eric Voorhees offered more details as to why the site was taken offline, indicating an unknown quantity of funds had been taken from the service’s connected wallets. Customers with pending orders would receive their money within 24 hours, the company said.

See his post on reddit : https://www.reddit.com/r/shapeshiftio/comments/4dx6k4/shapeshift_update_april_7_security_breach/
and full article : http://www.coindesk.com/shapeshift/



More exchanges will open in the future and more will get hacked , so if you don't want to lose your coins and cry , you better store them well instead of keeping them in exchanges .

that's was shocking me,i know shapeshift since long time,and this is bad news for those people who still use it,and yes you right,more exchange will open and more will hacked or maybe scamming us,now its hard believe fully to exchange.

[quentincole32]

Its really happen to shapeshift?this is will be bad news for people who loves use shapeshift,and i never think that hacker start to hack so many sites related bitcoin,its make me little bit worry. but i'm sure,people with good plan on security aspect have try to prevent this all.

[geopolisch]

reaaly its sad

[deadpoolx]

Never used, but expected it to be safer.

[fuathan]

The first thing about the security systems ==> They are not secure...

[D3ViL]

Currently, the site is back up and actively trading only Bitcoin and Ether. The Shapeshift.io Twitter account stated that other coins will be trade-able in coming weeks and the company will notify users of that as the process of fixing the back end continues.

[geopolisch]

Currently, the site is back up and actively trading only Bitcoin and Ether. The Shapeshift.io Twitter account stated that other coins will be trade-able in coming weeks and the company will notify users of that as the process of fixing the back end continues.

Even then most of their customers will not come back to them even if they lose nothing, because the trust is shaken. Why will they now risk even.
there are plenty for other site where they can exchange coins and also without fear 

[Arcteryx]

The first thing about the security systems ==> They are not secure...

This should be rule #1 for anyone putting their total confidence in any exchange or any service online for that matter. Once you hand over your personal information, it is out there for anybody to take if they intend too get it. It is sad but true in this day and age.

[MFahad]

This is not an exchange, it was just currency exchange site. No perons coins was there at the site.
So it was not that big destruction.

[MedaR]

Now many here talking, it is bad to store your coins on exchanges, and those kind of sites, but if you like to trade or you want to sell or buy your coins you need those web destinations.
If you store your coins in cold wallet for future and everyone does the same, then bitcoin has no future.
Bitcoin must be used not only stored!
Risk is high but we can talk about that what should be done..

[arwin100]

Now many here talking, it is bad to store your coins on exchanges, and those kind of sites, but if you like to trade or you want to sell or buy your coins you need those web destinations.
If you store your coins in cold wallet for future and everyone does the same, then bitcoin has no future.
Bitcoin must be used not only stored!
Risk is high but we can talk about that what should be done..

I think shapeshift didnt invest on more security protection for their site and the hackers notice it and they successfull hack and make it down. Just like vixtrade they are knew trading site and they are attack by hackers and now they are not recover their lose thats why they are down now. I lose some btc and altcoin in vixtrade.

[Monnt]

To think that I recieved my payment from shapeshift not a day before the hack... Phew.

Has shapeshift gone through with their promise? Has everyone who used the system been paid out?

[Kprawn]

This is the flaw in centralized services and will always be vulnerable to attacks. Bitcoin was built to be more robust, with the decentralized nodes and this increase it's security

and decrease it's vulnerability. You use these centralized services at own risk and you should not blame the Bitcoin protocol when these services gets hacked. Well, it still has to

be proven that these services are actually hacked from someone outside of the service, and not people working within these services. 

[Hazir]

The only positive news about this ShapeShift flop is that apparently people are not recognizing this platform as a major pillar of bitcoin community.
Therefore I didn't see any price reduction in response to this event. It wasn't as big problem as I expected it will to be?

[ebliever]

I noticed quite a few alts were down by double-digit percentages this morning. I'm guessing it's related to this Shapeshift hack. But if Shapeshift is accurate in saying customer funds were not hacked or at risk, this looks like a buying opportunity based on the market over-reacting.

[pereira4]

I thought this service never held any coins, as in I thought you would just choose what coin you want to convert in, and then the transaction would only happen once there are available coins so they never need to held coins, now that's decentralized. If they held coins.. that's just shit and someone needs to come up with a solution where no 3rd party holding coins is needed.

[iGotSpots]

The only people I see losing money in a Shapeshift hack is Shapeshift itself. Customers should feel safe just by how the site operates

People posting not to leave coins on exchange are correct, but that sentiment does not apply to this situation