Bitstamp to Resume Bitcoin Withdrawals Today
UPDATE (14th February, 11:38 GMT): Bitcoin exchange BTC-e has confirmed it is processing bitcoin withdrawals.
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Bitstamp has revealed it plans to start processing its customers’ bitcoin withdrawals again later today.
The exchange halted bitcoin withdrawals earlier this week after it was discovered a bot had launched a massive DDoS attack on a number of bitcoin exchanges.
A tweet from the BitStamp this morning read:
Bitstamp issued the following statement on its site earlier:
Nejc Kodrič, CEO of BitStamp, told CoinDesk that the solution his team is using has worked so far, but still needs further testing.
“Keep in mind that our solution worked on a small amount of transactions in our development environment,” he said.
Andreas Antonopoulos, chief security officer of Blockchain.info, predicted on Tuesday that it would only take bitcoin exchanges a couple of days to implement solutions to the issues they were facing. He said:
It appears he was correct.
The founders of BTC-e told CoinDesk all withdrawals that had been stuck in limbo over the past few days have now been transferred.
“There are not any issues [with withdrawals at BTC-e], currently everything is working smoothly,” they said.
The exchange’s site has experienced some downtime recently and the founders confirmed this was because of the DDoS attack.
“The only one issue which is still in process is the DDoS attack. We are working to resolve it as soon as possible. We are working to keep site up until the DDoS attackers will understand that the attack is useless,” they concluded.
BITCOIN WITHDRAWALS PROCESSING SOON
Dear Bitstamp clients,
A denial-of-service attack caused us to suspend the processing of Bitcoin withdrawals. Bitstamp, with help from the Bitcoin core developers, has implemented a solution that passes our preliminary tests and audits.
After additional testing, we plan to enable Bitcoin withdraws later today.
Thank you for your understanding!
Best regards,
A denial-of-service attack caused us to suspend the processing of Bitcoin withdrawals. Bitstamp, with help from the Bitcoin core developers, has implemented a solution that passes our preliminary tests and audits.
After additional testing, we plan to enable Bitcoin withdraws later today.
Thank you for your understanding!
Best regards,
The Bitstamp team
http://www.coindesk.com/mt-gox-bitcoin-price-falls-post-china-low/
Mt. Gox Bitcoin Price Sinks to $300, Past its Post-China Low
Published on February 14, 2014 at 00:18 GMT | Prices
UPDATE (14th February, 08:35 GMT):
The price of bitcoin on Mt. Gox registered a daily low this morning at 03:00 GMT of $302, but has since rebounded to $383.
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After a few days of shaky stability, the price of bitcoin continued to fall on 13th February across major exchanges as fear, uncertainty and doubt spread throughout the bitcoin community.
The most direct contributor to the day’s decline was the revelation that more than4,500 BTC were reported stolen from online black market Silk Road 2.0, which failed to adequately respond to transaction malleability issues that were earlier reported by Mt. Gox, Bitstamp and other exchanges.
Message board discussions suggest that fears of a sudden sell-off by the thieves or that the market would dive steeply as it did following the closure of Silk Road in October were the most likely causes of concern, though others disagreed that the event could inspire market movements.
Some community members blamed the escalating bad news from the industry.
Over the last week, bitcoin has seen its most high-profile exchanges experience service issues due to DDoS attacks, a potential major market outlaw the currency and the state of its once-largest exchange Mt. Gox deteriorate, even as it tried to calm users.
Major exchanges see declines
Thursday saw faith in Mt. Gox decline, as prices dropped more than 30% below those observed on other exchanges. The decrease in price suggests that CEO Mark Karpeles’ statements to the press have done little to encourage users to keep investing in the exchange.
Data from Bitcoin Charts shows the price reached a low of $451.10 on 13th February, a figure that was less than its 18th December low of $455, when prices nosedived on the news that China, the market then responsible for driving bitcoin price growth, would be severely limited by regulation.
At press time, prices were down across major bitcoin exchanges such as Bitstamp, BTC-e and Mt. Gox, though none saw the same lows as Mt. Gox.
BTC-e’s low of $580.10 remained $160 higher than its 18th December low of $420.
Similarly, Bitstamp declined, but observed the highest total among the exchanges – $601.54, nearly double its post-China low of $382.20.
Uncertainty reigns
Speculation as to a central cause of the decline was rampant, though, any one conclusion proved elusive. Rather, the wide variety of negative stories, coupled with the range of reporting may provide the best explanation for why even bitcoin enthusiasts converted BTC for fiat.
For example, TechCrunch reported that as much as 88,000 BTC had been stolen from Silk Road 2, before amending this figure to over 4,000:
Silk Road 2 Hacked, Over 4,000 Bitcoin Allegedly Stolen |…
Magic Tux is quite evasive in the protest video - why didn't even just say everyone's bitcoins were safe ? Why didn't he say that bitcoin withdrawals were going to be implemented today ( like Bitstamp ) and the transaction malleability fix was being going through final testing. Rather than being evasive , why didn't he acknowledge the long journey and protester had undergone and give an on camera interview stating what was being done to fix things ?
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