Bitstamp issues statement and temporarily suspends service

[Q7]

Kinda of news that will make people lose trust in bitcoin security and its viability as a safe currency as a whole. When new or potential investor read this, they will have doubt about putting their money into bitcoin. Bad news indeed... I wonder amount of btc that has been compromised. 

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[HarmonLi]

Kinda of news that will make people lose trust in bitcoin security and its viability as a safe currency as a whole. When new or potential investor read this, they will have doubt about putting their money into bitcoin. Bad news indeed... I wonder amount of btc that has been compromised. 

Yeah, you are right, this is very bad PR. And the saddest thing about it is that Bitcoin itself isn't flawed at all. The core technology doesn't have anything to do with these breaches and robberies. Bitcoin itself was, and will always be, safe.

[GGGGG]

WTH?? The ship can start sinking too fast...

[Cummins59]

I like bitcoin but believe it is dying and will be worthless. The reason is that there is ZERO security, ZERO public knowledge, ZERO advertising and ZERO good news. Combine this with Apple Pay whom basically took the btc idea and ran with it. Forget the "fiat" currency BS. The losses that the masses of btc owners have incurred over the last year would take eternity to recover. Too many scammers and with the cost of electricity and difficulty and ZERO profits, the entire attraction of btc is GONE. All the cloud miners are worthless. It's has more signs of a demise than any currency or commodity out there. I am cashing out and hitting the small cap miners.

[pawel7777]

Kinda of news that will make people lose trust in bitcoin security and its viability as a safe currency as a whole. When new or potential investor read this, they will have doubt about putting their money into bitcoin. Bad news indeed... I wonder amount of btc that has been compromised. 

Massive price drop followed by major exchange's problems, doesn't look good indeed. It's just a matter of time till the major news start reporting on it.

But on the other hand, if the amount compromised is not significant and BitStamp is able to cover it from its own funds (+ identify the cause and fix the problem), that could actually add to their trust and show they're serious business and can cope with difficulties.

[dserrano5]

I like bitcoin but believe it is dying and will be worthless. The reason is that there is ZERO security, ZERO public knowledge, ZERO advertising and ZERO good news. […] I am cashing out

Can I get your coins at ZERO cost? Thanks!

[HarmonLi]

I like bitcoin but believe it is dying and will be worthless. The reason is that there is ZERO security, ZERO public knowledge, ZERO advertising and ZERO good news. Combine this with Apple Pay whom basically took the btc idea and ran with it. Forget the "fiat" currency BS. The losses that the masses of btc owners have incurred over the last year would take eternity to recover. Too many scammers and with the cost of electricity and difficulty and ZERO profits, the entire attraction of btc is GONE. All the cloud miners are worthless. It's has more signs of a demise than any currency or commodity out there. I am cashing out and hitting the small cap miners.

Bitcoin itself is completely safe. There hasn't been a single theft due to mistakes or errors in the core protocol! Apple Pay has almost nothing to do with Bitcoin. Bitcoin thrives to be a separate currency with a completely different foundation. Apple pay is merely a payment system used on top of credit cards. It has nothing to do with being a currency that is backed by a trustless and decentralized consesus-system.

[crazy_rabbit]

WTH?? The ship can start sinking too fast...

True. I used to be really depressed about the price drop- but now I'm rather excited. Bitcoin itself isn't going anywhere- the prospect of honestly cheap coins is quite exciting to me.

[Bitalo_Martin]

there are highly sophisticated solutions available, for example bitalo.com where site owers simply do not have access to the bitcoins at all

user-side generated private keys that are fully encrypted on user side and where coins are stored in multi-signature wallets with a backup transaction so that you get the coins out, even when the service is completely offline. In this case you also do not need any "audit", because the audit is simply checking the blockchain if your coins are there or not.

[Bitcoinpro]

I like bitcoin but believe it is dying and will be worthless. The reason is that there is ZERO security, ZERO public knowledge, ZERO advertising and ZERO good news. […] I am cashing out

Can I get your coins at ZERO cost? Thanks!

yes but your going to have to pay

[2dogs]

Wallet Breach Causes Bitcoin Exchange Bitstamp to Temporarily Suspend Service

https://www.cryptocoinsnews.com/wallet-breach-causes-bitcoin-exchange-bitstamp-to-temporarily-suspend-service/

[mayax]

and it seems they have a problem with their  bank account too....

[cr1776]

I like bitcoin but believe it is dying and will be worthless. The reason is that there is ZERO security, ZERO public knowledge, ZERO advertising and ZERO good news. Combine this with Apple Pay whom basically took the btc idea and ran with it. Forget the "fiat" currency BS. The losses that the masses of btc owners have incurred over the last year would take eternity to recover. Too many scammers and with the cost of electricity and difficulty and ZERO profits, the entire attraction of btc is GONE. All the cloud miners are worthless. It's has more signs of a demise than any currency or commodity out there. I am cashing out and hitting the small cap miners.

Stop with the FUD.  Bitcoin is not bitstamp or mtgox etc. 

[Velkro]

They are handling this incident good im happy with them still

[mayax]

They are handling this incident good im happy with them still

yeap but many people will still lose a lot of money from the Bitcoin depreciation.

[Lordoftherigs]

Bitstamp Service Temporarily Suspended

We have reason to believe that one of Bitstamp’s operational wallets was compromised on January 4th, 2015.

As a security precaution against compromises Bitstamp only maintains a small fraction of customer bitcoins in online systems. Bitstamp maintains more than enough offline reserves to cover the compromised bitcoins.

IN THE MEANTIME, PLEASE DO NOT MAKE DEPOSITS TO PREVIOUSLY ISSUED BITCOIN DEPOSIT ADDRESSES. THEY CANNOT BE HONORED!

Customer deposits made prior to January 5th, 2015 9:00 UTC are fully covered by Bitstamp’s reserves. Deposits made to newly issued addresses provided after January 5th, 2015 9:00 UTC can be honored.

Bitstamp takes our security and soundness very seriously. In an excess of caution, we are suspending service as we continue to investigate. We will return to service and amend our security measures as appropriate.

Bitstamp Team




Seems fine to me

[mayax]

yes, it is an honest announcement BUT the problem remains. Bitcoin price will go down and many people will lose a lot of money today.
The China market will react tomorrow when a lot of chineses will sell

[johnyj]

That's always a problem with centralized exchanges, you never know what is happening behind the scene, everything that published could be a make-up story

The problem is people's mindset has not changed to decentralized way of thinking, they usually seek a centralized organization for security and convenience, and this behavior might not change in generations

[Lordoftherigs]

http://www.reddit.com/r/Bitcoin/comments/2re2pw/18864_coins_stolen_from_stamp_that_doesnt_look/

[mayax]

we are talking about 14% of their coins lost ? pffff...
a lot of money lost. millions !