22 November 2017
visit www.avoka.com

Bitcoin exchange Bitfloor shuts down

18 April 2013  |  8912 views  |  0 Dead end

New York-based bitcoin exchange Bitfloor has been forced to cease all operations indefinitely after being told that its US bank account is being shut down.

In a statement on its Web site, founder Roman Shtylman, says: "Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals as we have in the past."

Shtylman insists that he will work "over the next few days" to make sure all users get their money back.

The BitFloor exchange is a relatively small operation; trading just over 159,000 bitcoins in the past 30 days, compared to four million for industry leader Mt. Gox.

The platform drew attention last September when it was forced to temporarily shut down following a heist which allowed hackers to make off with $250,000 in the virtual currency. The thieves managed to steal around 24,000 coins after they "gained accesses to an unencrypted backup of the wallet keys" and used them to transfer the money.

Bitcoin has received widespread media attention in the past weeks as its value shot up from $40 in February to $220 in April. The volatile currency has since dropped in price and is trading at around $90 at the time of writing.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MT. Gox blames surge of interest for bitcoin price drop

MT. Gox blames surge of interest for bitcoin price drop

11 April 2013  |  5741 views  |  0 comments | 3 tweets
Coinsetter raises $500k for bitcoin FX trading platform

Coinsetter raises $500k for bitcoin FX trading platform

10 April 2013  |  7990 views  |  0 comments | 6 tweets | 1 linkedin
Bookie offers 9/4 on bitcoin value hitting $500 by year end

Bookie offers 9/4 on bitcoin value hitting $500 by year end

22 March 2013  |  16562 views  |  0 comments | 9 tweets | 1 linkedin
Technical glitch sparks bitcoin sell-off

Technical glitch sparks bitcoin sell-off

12 March 2013  |  10693 views  |  0 comments | 7 tweets | 2 linkedin
Hacked Bitcoin exchange Bitfloor reopens

Hacked Bitcoin exchange Bitfloor reopens

28 September 2012  |  6621 views  |  0 comments
Bitfloor exchange shuts down after $250,000 heist

Bitfloor exchange shuts down after $250,000 heist

05 September 2012  |  5723 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit https://www.niceactimize.comvisit www.capgemini.comvisit www.solutions.lexisnexis.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
20281 views comments | 32 tweets | 35 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
12167 views comments | 15 tweets | 42 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
9822 views comments | 26 tweets | 38 linkedin
Barclays warns of unprecedented online fraud this ChristmasBarclays warns of unprecedented online fra...
9734 views comments | 16 tweets | 33 linkedin
Sepa instant payments goes liveSepa instant payments goes live
8069 views comments | 41 tweets | 71 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job