Bitstamp resumes trading after bitcoin hack

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Bitstamp has resumed trading after last week’s security breach forced the bitcoin exchange to suspend its services.

The online exchange had to call off operations last week in order to investigate a hack costing the company 19,000 bitcoins, which were worth around $5 million. But only the company’s ‘hot-wallet’ was hit, and the exchange promised to honour the bitcoins lost before a Tuesday announcement advising users not to make any further deposits.

The breach only affected a small amount of the bitcoins held, with the rest safe in cold storage, the company said at the time.

“We are happy to announce that we are back open for business with a newly redeployed website and back-end systems that are safer and more secure than ever.” Bitstamp’s chief executive Nejc Kodric said in a company blog, adding that that the integration of Amazon cloud support has helped to make the exchange safer and more secure.

Bitstamp is the third largest Bitcoin exchange and accounts for about five percent of online transactions involving the digital currency. By opening up its doors again so quickly, the exchange may have saved its reputations if users feel they can trust it’s security once more.

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