Post
Topic
Board Speculation
Re: bitstamp 18,000 bitcoins stolen? -confirmed
by
Bizmark13
on 06/01/2015, 14:38:38 UTC
i suppose i had a lucky escape, i never saw reason to keep coins in the bitstamp exchange. i traded out of my bitstamp iou's on rippletrade when the prices went out of sync. i had to take a poor ask price in ripples but at least i got my money. the bitstamp gateway was open long after the initial announcement, and i thought i was being a little paranoid by bailing out with a haircut of about 2%.

now my ~bitstamp iou balance is nil, i had some dust in there. will be interesting to see if it comes back. anyone else see this?

Bitstamp has 200,000 BTC in reserves. Unlike Gox, they only lost a small percentage of total bitcoins during this hack so I think customers' deposits are safe. Poloniex suffered a similar hack which saw them lose 12.3 percent of their total BTC. They made it out fine.

Smells like fractional reserves...


Bitstamp was audited by Mike Hearn, a Bitcoin dev back in May 2014. He said that everything seemed OK and all the funds were fully backed in their cold storage wallets. This was just 8 months ago and I'd be surprised if the situation has changed since then.