BitFloor Ceases Operations Until Bitcoin Theft Is Resolved

BitFloor founder Roman Shtylman said that his website will be paused until he figures out what to do next after $250,000 in virtual currency was stolen last night.  An unidentified hacker found and stole an unencrypted backup of virtual wallet keys by taking 24,000 Bitcoins.  Each was worth just over ten U.S. dollars.

Roman said that he still had logs for all accounts, trades, and transfers for every year, but the thief took the vast majority of the coins that BitFloor has on hand at any given time.  Roman wants to continue operating BitFloor, but shuttering the exchange may happen:

As a last resort, I will be forced to fully shut BitFloor down and initiate account repayment using current available funds. I still have all of the logs for accounts, trades, transfers. I know exactly how much each user currently has in their account for both USD and BTC. No records were lost in this attack.

There are several Bitcoin exchanges and BitFloor is the fourth largest.


This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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