Bitcoin exchange BitQuick will be shut down for two to four weeks after cyberattack

Recently, the foreign Bitcoin exchange Cryptsy was attacked , and millions of dollars worth of Bitcoin and other cryptocurrencies on the platform disappeared. At the same time , another encrypted digital currency trading platform BitQuick also became a victim of hacker attacks.

On March 17, 2016, BitQuick founder Jad Mubaslat, CEO Chad, and customer service representatives published a statement on their website blog, stating that BitQuick was attacked on March 14, 2016. Unlike Cryptsy's handling, the BitQuick team did not keep the attack secret from its users for a long time, but immediately publicly updated the progress of the matter.

The blog post stated that customer information was not lost, funds were not stolen, and emails were protected during the attack. All users who were sent withdrawal instructions and unresolved orders and withdrawal services have had their funds processed, and only 3% of the funds in the BitQuick system are currently unclaimed.

Since the scope of the attack was unknown, the service was immediately interrupted. At the same time, BitQuick said that they would only resume regular services, including trading, when they were fully confident that they could continue to operate. During this time, they would verify the attack vector and conduct a thorough audit of any existing and potential vulnerabilities. This process would take a total of 2 to 4 weeks.

BitQuick was founded in August 2013. It is the first digital currency trading platform in the United States to implement proof of reserve after the Mt. Gox incident . Since its establishment, it has had a monthly trading volume of 15,000 bitcoins . In the same blog, BitQuick said that due to some personal reasons, they are looking for a new team, which has nothing to do with the server attack. The 2-4 week downtime and other related matters were not mentioned. It is also unknown who will join the management team and how many people will leave BitQuick.