Sunday, 16 February 2014

Bitcoin exchange restores service

Automated customer withdrawals restored on the cybercurrency's largest exchange service, say published reports.Bitcoin's largest exchange service, Bitstamp, restored automated customer withdrawals Saturday after closing the service for four days due to a hacking attack, according to reports published over the weekend.
In a statement Saturday, the Slovenia-based exchange said that "after
rigorous testing, we have restored fully automated processing for Bitcoin

According to a story published on the website of The Wall Street Journal, the breach had crippled various platforms for the digital currency exchange, raising questions about the global network's security.

Friday, Bitstamp announced that it had developed a software solution to the issues, resulting in a 9.7% rise in Bitcoin's price. Tech Crunch, a tech news website, reported that the price jumped from $580 early Friday to $670 at the time of their report.

However, Friday's fix is only temporary. Bitcoin Foundation Chief Scientist Gavin Andresen told the Journal that a more permanent fix for the software should be ready by next week. Bitstamp is an exchange aimed at ensuring that Bitcoin's Internet security protocol is secure.

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