https://hashtalk.org/topic/32776/paybase-service-update-2-27-2015-update

Update (3/1/15)

We want to apologize in not providing more information sooner...but we know you'll understand why. We believe it was in the best interest of our community and know that you will share in that sentiment.

On Friday, February 27, we learned about a coordinated and very sophisticated effort to exploit the databases for PayBase and ZenCloud. As soon as we discovered this, we felt it imperative to shut down the wallet withdrawal service, in the best interest of our customers and community. We're sorry for any inconvenience this may have caused.

We felt it was important to provide general, non-specific communications as to the identity of the hackers / violators our networks, since they did not know we had discovered what they were doing. This, we felt, was precautionary and again, in your best interest.

While this was happening, we had all hands on deck verifying every database and ensuring there were no other holes or doors they could use. Verification of all databases is in the final stages and we expect to be online later this week, if not sooner.

We also wanted to point out that our existing precautionary measures such as "Pending Withdrawal" function worked as it should, giving us the ability to verify withdrawal transactions. This layer of security made it possible to protect all property, funds and PayCoins.

"We felt it was important to provide general, non-specific communications as to the identity of the hackers / violators our networks, since they did not know we had discovered what they were doing. This, we felt, was precautionary and again, in your best interest."