Topic: Bitstamp issues statement and temporarily suspends service - page 4. (Read 8055 times)

The 19000 BTC isn't even half of the volume that was traded per day the last couple of days. It is a big hit but i suppose it is recoverable.

I'm more worried about the wording in the statement where it states:

I don't think it should take days to copy and check their environment, why would it take this long?

And updates haven't been provided since this morning on either Twitter or their website. No source for the last statement on Coindesk. I'm worried we won't hear anything for a few days now. And that reminds me of Gox...

January 6, 2015, 12:34am UTC: We have temporarily suspended Bitstamp services. Bitstamp customers can rest assured that their bitcoins held with us prior to temporary suspension of services on January 5th (at 9am UTC) are completely safe and will be honored in full.
On January 4th, some of Bitstamp’s operational wallets were compromised, resulting in a loss of less than 19,000 BTC. Upon learning of the breach, we immediately notified all customers that they should no longer make deposits to previously issued bitcoin deposit addresses. To repeat, customers should NOT make any deposits to previously issued bitcoin deposit addresses. As an additional security measure, we suspended our systems while we fully investigate the incident and actively engage with law enforcement officials.
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. We would like to reassure all Bitstamp customers that their balances held prior to our temporary suspension of services will not be affected and will be honored in full.
We appreciate customers’ patience during this disruption of services. We are working to transfer a secure backup of the Bitstamp site onto a new safe environment and will be bringing this online in the coming days. Customers can stay informed via updates on our website, on Twitter (@Bitstamp) and through Bitstamp customer support at [email protected].
- Bitstamp Team

The 19000 BTC isn't even half of the volume that was traded per day the last couple of days. It is a big hit but i suppose it is recoverable.

I'm more worried about the wording in the statement where it states:

I don't think it should take days to copy and check their environment, why would it take this long?

And updates haven't been provided since this morning on either Twitter or their website. No source for the last statement on Coindesk. I'm worried we won't hear anything for a few days now. And that reminds me of Gox...

A lesson learned from the whole Mt.Gox debacle is that they need to keep communicating. This doesn't seem to be a priority at the moment. I'm still wondering where that statement on coindesk came from. It isn't on their website or twitter. So how would customers know (apart from reading coindesk).

Having said that I don't think they'll go bust because of this. I've been using them since long before Mt.Gox started to slide and they've proven to be a reputable exchange.

I don't think Bitstamp is going to disappear overnight like Mt. Gox. They've got a lot to lose.

The 19000 BTC isn't even half of the volume that was traded per day the last couple of days. It is a big hit but i suppose it is recoverable.

I'm more worried about the wording in the statement where it states:

I don't think it should take days to copy and check their environment, why would it take this long?

And updates haven't been provided since this morning on either Twitter or their website. No source for the last statement on Coindesk. I'm worried we won't hear anything for a few days now. And that reminds me of Gox...

The company has generally been respected within the bitcoin community. In May 2014 it passed a proof-of-bitcoin-reserves audit overseen by BitcoinJ developer Mike Hearn, and in June it beat other bitcoin companies to win the Europas' Best Virtual Currency Startup Award.

We are working to transfer a secure backup of the Bitstamp site onto a new safe environment and will be bringing this online in the coming days. Customers can stay informed via updates on our website, on Twitter (@Bitstamp) and through Bitstamp customer support at [email protected]."

They can buy 19k btc with the fiat value , it is not an impossible thing to do....  (and maybe the price will raise a little).

If they indeed lost ~ 19,000 BTC, they're seriously fucked. There's no way they have enough own reserves to cover it. And I doubt they have insurance covering such event.

Seems to me those are the funds from the hot wallet: http://www.coindesk.com/bitstamp-claims-roughly-19000-btc-lost-hot-wallet-hack/

On another note, where did this statement come from? Was it made directly to Coindesk at CES maybe?

Someone wasn't aware of what's going on and send to the old address maybe?

On bitstamp: "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."

But if you look at the transactions of that possible hacked bitstamp address, the first transaction happened on January 4th, 2015 2:26:20 UTC. and the last transaction happens 2015-01-05 18:12:07, it is still accepting transactions after 9:00

it is very curious that the Bitcoin price didn't fall YET.

normally, any real "stock" market would have reacted until now. the "players" would have sold...I think Bitcoin foundation is not strange of this.

Bitstamp CEO probably on an extended vacation in his newly acquired island mansion in Dubai.

Bitstamp retweeted:
Nejc Kodrič @nejc_kodric  ·  9 hours ago

Due to circumstances I skipped my connecting flight and spend the night in NYC. I am flying to Vegas today to attend CES.

If the space is limited, and i.e. we have a tx with lot of inputs/outputs (high size) then a high fee creates incentive for priority inclusion.

It is not true , with 1btc you have the same time/chance to receive confirm (include in a block) as 0.0004 btc . It's a question of lucky ....

it is very curious that the Bitcoin price didn't fall YET.

normally, any real "stock" market would have reacted until now. the "players" would have sold...I think Bitcoin foundation is not strange of this.

I bet this is Bitstamp themselves making some tricky maneuvers.

Here is the main cold wallet of Bitstamp: https://blockchain.info/address/1JoktQJhCzuCQkt3GnQ8Xddcq4mUgNyXEa

From the earliest transaction of the address: https://blockchain.info/tx/8f1d3a8ef6b2d4a25d2f499279e01518b4770819ccbc39a765c4c326170c61b3

the source addresses and destination address are all cold wallets of Bitstamp.  The total amount of these cold wallets are about 200K.

The 18k BTC lost is about 10% of total reserve of Bitstamp.