28 Sep '12, 9am

Hacked Bitcoin exchange Bitfloor reopens

In a Google+ post , founder Roman Shtylman has confirmed that the exchange is now back up and running after nearly a month out of action and sought to reassure users that security has been improved and that he plans to refund those left out of pocket. Thieves managed to steal around 24,000 coins early this month after they "gained accesses to an unencrypted backup of the wallet keys" and used them to transfer the money. Although users can start trading again, balances from before the hack are still on hold, with Shtylman promising that they will "be released in parts as we begin to recover funds to pay back balances". The money to pay people back will come from fees. In a bid to prevent a repeat, Bitfloor has now changed its fund storage policy to 100% offline and daily transactions through its hot wallet will be backed by its own funds, not clients'. The platform is also ...

Full article: http://finextra.com/News/Fullstory.aspx?newsitemid=24116

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Hacked Bitcoin exchange Bitfloor reopens

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