Author

Topic: Bad news. Bitstamp trouble? Impact on price? (Read 2888 times)

hero member
Activity: 840
Merit: 524
Yes!
sr. member
Activity: 296
Merit: 250
What I find interesting is that they basically halted trading by shutting the site down.

Why halt trading? If there are no deposits nor withdrawals that should not matter on buying or selling.

Seems suspect to me.
Halt everything is N1 rule before investigation on hack threat

The first thing they would have to do is get an expert to take copies of all their server hard drives to stop new data overwriting old data that might be used as evidence.
hero member
Activity: 672
Merit: 500
not this address... https://www.bitstamp.net

plus mail from bistamp, which i got today:
Quote
Dear customer,

Today our transaction processing server detected problems with our hot wallet and stopped processing withdrawals.

You should STOP SENDING bitcoin deposits to your Bitstamp account IMMEDIATELY as private keys of your deposit address may be lost.

Your bitcoins already deposited with us are stored in a cold wallet and can not be affected.

We will send you more info as soon as possible.

Best regards,

Bitstamp team
hero member
Activity: 798
Merit: 1000
What I find interesting is that they basically halted trading by shutting the site down.

Why halt trading? If there are not deposits nor withdrawals that should not matter on buying or selling.

Seems suspect to me.
They want to manipulate the market by preventing panic sells.

Lower prices in the longer term aren't good for their revenues which are based on percentage fees.

Yup, BitStamp crash protection squad leaps into action !   Cheesy

That and possibly to stop people moving BTC off the exchange via Ripple ...

Quote
Bitstamp users, who were using innovative methods such as Ripple to get their money out of Bitstamp, are now unable to perform any actions on the Bitstamp site

https://www.cryptocoinsnews.com/wallet-breach-causes-bitcoin-exchange-bitstamp-to-temporarily-suspend-service/
legendary
Activity: 938
Merit: 1013
What I find interesting is that they basically halted trading by shutting the site down.

Why halt trading? If there are no deposits nor withdrawals that should not matter on buying or selling.

Seems suspect to me.
Halt everything is N1 rule before investigation on hack threat
jr. member
Activity: 52
Merit: 1

I thought u had some info, turns out only FUD  Undecided
legendary
Activity: 1267
Merit: 1000
legendary
Activity: 1232
Merit: 1005
Bitstamp price might change and drop like a rock but doubt it will affect the other already real low bitcoin prices. If anything might get some new buyers in the other exchanges for these lost or stolen coin.


We are around 270 right now.

I bet it is due whale people with inside info of what is going on with stamp, that sold before everything went public
N12
donator
Activity: 1610
Merit: 1010
Bitstamp price might change and drop like a rock but doubt it will affect the other already real low bitcoin prices. If anything might get some new buyers in the other exchanges for these lost or stolen coin.
Just like how bad news from MtGox didn't affect all the other exchanges during the years it existed. Cheesy Cheesy Cheesy
legendary
Activity: 924
Merit: 1000
Bitstamp price might change and drop like a rock but doubt it will affect the other already real low bitcoin prices. If anything might get some new buyers in the other exchanges for these lost or stolen coin.
N12
donator
Activity: 1610
Merit: 1010
What I find interesting is that they basically halted trading by shutting the site down.

Why halt trading? If there are not deposits nor withdrawals that should not matter on buying or selling.

Seems suspect to me.
They want to manipulate the market by preventing panic sells.

Lower prices in the longer term aren't good for their revenues which are based on percentage fees.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
What I find interesting is that they basically halted trading by shutting the site down.

Why halt trading? If there are no deposits nor withdrawals that should not matter on buying or selling.

Seems suspect to me.
legendary
Activity: 1267
Merit: 1000
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.

The chart is flatlined since 9:00 UTC (to present) at 276.8, indicating no trades:

https://bitcoinwisdom.com/markets/bitstamp/btcusd
legendary
Activity: 1064
Merit: 1001
I don't think as of now that Bitstamp really is screwed beyond repair. I'm still optimistic! I just hope they disable the pending orders before re-enabling the trading engine. I believe people may be tempted to sell their Bitcoins for FIAT in fear of not being able to get their BTC back!

Many were optimistic in the dawn of MtGox fuckpucinno.
hero member
Activity: 509
Merit: 500
Can't upload avatar
I'm not worried. Lets just wait until their official statement.

They better invite Roger Ver.

 Grin
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
I'm not worried. Lets just wait until their official statement.

They better invite Roger Ver.
hero member
Activity: 988
Merit: 1000
I'm not worried. Lets just wait until their official statement.
sr. member
Activity: 350
Merit: 250
Honest 80s business!
I don't think as of now that Bitstamp really is screwed beyond repair. I'm still optimistic! I just hope they disable the pending orders before re-enabling the trading engine. I believe people may be tempted to sell their Bitcoins for FIAT in fear of not being able to get their BTC back!
legendary
Activity: 1232
Merit: 1011
https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf


timestamp of the last trascaction -> 10:10.

bitstamp down from 10:12.
legendary
Activity: 1302
Merit: 1005
New Decentralized Nuclear Hobbit
We'll be in the double digit price range in less than 48 hours.

Whatever happens. pretty sure that isn't going to happen.

Even with mtgox, the price went down to double digits only in mtgox. Here bitstamp price is officially still at 277 Cheesy
sr. member
Activity: 476
Merit: 250
We'll be in the double digit price range in less than 48 hours.
sr. member
Activity: 314
Merit: 250
Speculators are again burnt by using a centralized exchange for a decentralized payment system.

I know Bitstamp's security and Ibelieve it's hard to compromise cold wallets but still, a big minus on the image of Bitcoin. Bitcoin will never take off unless ALL centralized exchanges die.


Centralized exchanges can offer multi-signature for trustless Bitcoin deposits.

We should start a campaign to force them all to start using them. If they can use them, why aren't they?
full member
Activity: 164
Merit: 100
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
If you are still on mtgoxbitstamp it's a wakeup call to get all your funds out.
Well, now we'll see if you people learned anything from the gox debacle. If bitstamp is still the major western exchange at the end of the month I don't have any hope for you.
hero member
Activity: 840
Merit: 524
Yes!
But the fact we had a crash just before Stamp announced this is very, very suspicious.

legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
"hack"

also

lol it's about time, what took them so long?

impact: That depends in which direction they are manipulating the market.
N12
donator
Activity: 1610
Merit: 1010
Speculators are again burnt by using a centralized exchange for a decentralized payment system.

I know Bitstamp's security and Ibelieve it's hard to compromise cold wallets but still, a big minus on the image of Bitcoin. Bitcoin will never take off unless ALL centralized exchanges die.


Centralized exchanges can offer multi-signature for trustless Bitcoin deposits.
legendary
Activity: 1064
Merit: 1001
Speculators are again burnt by using a centralized exchange for a decentralized payment system.

I know Bitstamp's security and Ibelieve it's hard to compromise cold wallets but still, a big minus on the image of Bitcoin. Bitcoin will never take off unless ALL centralized exchanges die.

hero member
Activity: 490
Merit: 500
legendary
Activity: 1176
Merit: 1010
Borsche
Hey man, BTC isn't lose yet.

See here: 1JoktQJhCzuCQkt3GnQ8Xddcq4mUgNyXEa
1JYTUJZMTsJkqDfLzBG1bGcaBngLgSPAoQ
1PuSoNughjE4zTdRQS2sDhLEFbVgkB3kS7
16vXP31udcx67Xk9KZJNAq2JM6i4hFSGyh
1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew
1ABobw22YXGu4vKtysgX9AKRqz3fUFWv4E
1GVtpiTSEwC1vUe3UGFRBHjGTrWVFuiArs


Here there are 220.000 Bitcoin, more or less this is the cold storage of Bitstamp. So, relax man and see what will happen the next hour. Btc are not stolen.
Good catch. If we can assume that they have been in control of the coins at the time they last rested, we can be sure that they control them.

I don't think it would be wise for them to move or even check these funds now, until they understand how deep the hack goes. Might well be they are monitored. So the secure approach will be to run a full security audit first, then prove ownership of the funds. I.e. no hasty decisions, hackers might be expecting this.
N12
donator
Activity: 1610
Merit: 1010
Hey man, BTC isn't lose yet.

See here: 1JoktQJhCzuCQkt3GnQ8Xddcq4mUgNyXEa
1JYTUJZMTsJkqDfLzBG1bGcaBngLgSPAoQ
1PuSoNughjE4zTdRQS2sDhLEFbVgkB3kS7
16vXP31udcx67Xk9KZJNAq2JM6i4hFSGyh
1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew
1ABobw22YXGu4vKtysgX9AKRqz3fUFWv4E
1GVtpiTSEwC1vUe3UGFRBHjGTrWVFuiArs


Here there are 220.000 Bitcoin, more or less this is the cold storage of Bitstamp. So, relax man and see what will happen the next hour. Btc are not stolen.
Good catch. If we can assume that they have been in control of the coins at the time they last rested, we can be sure that they control them.
jr. member
Activity: 51
Merit: 251
They wasn't hacked
But if this keep continue, there will be effect at bitcoin price

Just hope they can fixed the trouble soon Smiley
legendary
Activity: 1624
Merit: 1196
Reputation first.
Hey man, BTC isn't lose yet.

See here: 1JoktQJhCzuCQkt3GnQ8Xddcq4mUgNyXEa
1JYTUJZMTsJkqDfLzBG1bGcaBngLgSPAoQ
1PuSoNughjE4zTdRQS2sDhLEFbVgkB3kS7
16vXP31udcx67Xk9KZJNAq2JM6i4hFSGyh
1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew
1ABobw22YXGu4vKtysgX9AKRqz3fUFWv4E
1GVtpiTSEwC1vUe3UGFRBHjGTrWVFuiArs


Here there are 220.000 Bitcoin, more or less this is the cold storage of Bitstamp. So, relax man and see what will happen the next hour. Btc are not stolen.
N12
donator
Activity: 1610
Merit: 1010
Please note: Their cold wallet is not affected.
So they say. Words cannot be trusted, only Bitcoin address signatures can.
hero member
Activity: 840
Merit: 524
Yes!
Please note: Their cold wallet is not affected.


But, I think it still has an impact on price. If you get out your btc (through ripple method, etc.), you will want to convert it to fiat to be safe, indirectly pushing the price down at the other exchange. (Withdrawals are halted.)
legendary
Activity: 1025
Merit: 1000
Shut up scum. Bitstamp was not hacked.

Posting untrustworthy references from reddshit.

Given that the front page of Bitstamp's web site states that "one of Bitstamp’s operational wallets was compromised on January 4th, 2015." it isn't hard to assume some sort of hack was involved, surely.
hero member
Activity: 840
Merit: 524
Yes!
Shut up scum. Bitstamp was not hacked.

Posting untrustworthy references from reddshit.

well, it is not reported only on reddit. Coindesk.
Anyway, there is some issue with the hot wallet.

Seeing your reponse, I think you wouldn't have believed mtgox till it happened?

I am not saying bitstamp is done for or anything. But, I think it has an impact on price anyway. i am just waiting for a clear move.
sr. member
Activity: 242
Merit: 250
Shut up scum. Bitstamp was not hacked.

Posting untrustworthy references from reddshit.
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