It takes more then that to create a secure exchange let alone a secure site. If you want some advice I can more then likely get a certified security auditor to come on and detail you a list of requirements. As the exchange should be regarded as a financial institution although it doesn't handle credit cards or debit card transactions it should still be as secure as a site that does and to put it nicely having a php website with a mysql database which sits on the same server as the web application, with poorly implemented iptables and a phpmyadmin page open to the world doesn't really scream I am secure to me. Not to mention the person who essentially stole 17k bitcoins initially is still involved with the site - If I saw all that I wouldn't touch it with a pole.
So with other words not bitmarked.eu is dead but bitcoins because lets face it no exchange would pass. This is exactly why it can be one opportunity to move away from the shanigans the whole bitcoin environment is in. As it stands its only a matter of time before the next shifty move is uncovered, minor or major. its about as buggy as any microsoft code, the moment u fix one hole another pops up, yet bitcoin raises and raises.
It's not dead it just means there is a big opportunity there for people who have the knowledge and money to invest to create a an actual secure market for trades, any thing connected to the internet can be hacked it is all about mitigating the risk against it. My personal opinion is the exchanges need to have over site by a body similar to the PCI Security Standards Council and actually be accountable to someone and face penalties for shoddy security practices. At the very least these exchanges should perform security audits by approved ISA's and have regular sites scans done by an ASV such as Qualys. Until this is done I seriously doubt any sort of mass acceptance of bitcoin by large merchants.