Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23767. (Read 26714528 times)

Sounds like bitcoin24 story 1,5 years ago.
I was trapped over there but was lucky to have everything in bitcoin on the exchange. After a few weeks I could withdraw. People in fiat are still waiting for their cash...

So they got pleny enough to go around. But the hacker still has 19,000 coins

There's a new statement from Bitstamp here.

https://www.bitstamp.net/

"An important message to our customers:

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 "

Or that. How many are still left?

Or wait for the next USMS auction...

As every hour ticks by more and more bad shit seems to be creeping into this story.

Question is...what's the collateral damage going to look like?

They could just call this guy:

Bitstamp used to do business directly with Bitfinex.

This article says Bitfinex used to include the Bitstamp order book in their own order book for liquidity purposes. In other words, they were arbitraging between themselves and Bitstamp.

http://bitcoinvista.com/2014/06/12/the-bitcoin-trading-platform-bitfinex-is-distancing-themselves-from-bitstamp/

Thinking about it Bitstamp could probably do a deal directly with Bitfinex or other companies they have connections to.

You would have a hard time buying 19k btc from a contract supplier at these prices.  Contracts were all negotiated at higher prices originally.  Why would they sell to you anyhow, knowing as they do that the price must go up? Probably they end up buying back the coins at least 10% higher than the price the thief got for them.  I think a lot of supply is going to get pulled from the market now.

This is good stuff:

they dont need to buy anything, they got more than enough in cold storage to honour all missing coins.

True. I thought about this after I said it. They could probably just buy from a mine or a private seller

Yeah, agreed - no idea why they kept 19K in a hot wallet.

Lol you idiot, you can't even translate a cheap pun from Polish to English. I assume you originally meant bitsramp which in Polish bears a strong connotation with the physical action of "shitting". I dare say even a five-year-old would figure out it would be easiest to translate it as "shitstamp" which would have the same effect on the target language reader.
Could someone please ban this miserable troll? Ignore is not enough for his kind (and I haven't even ignored Lambchop or ponzi - could you please, please make him go?).

Probably.

PayPal chief compliance officer (CCO) Jean-Baptiste Graftieaux left his job there to join Bitstamp.

http://www.coindesk.com/paypal-bitstamp-chief-compliance-officer/

That article also says Bitstamp got $10m investment from Pantera Capital in 2013. That alone's enough to cover a $5m loss.

Explanation

It is normal. Heck! It's a bloody tradition by now.

I really wonder why you would put 19k in a hot wallet. Even when you have to transfer them to clients.
19k live ammo is a bit high.


I would have kept much better safety with those coins.

I really doubt Stamp has to resort to market buys to get that BTC. They probably can buy it in bulk from one of their partners. 19K is a lot, but not a crazy amount either.

If this happened in the real world it would be serious but its a Bitcoin Exchange so everyone just sits tight like its normal.