BitQuick has a major security vulnerability. Is BitQuick doomed?

When BitQuick announced on Twitter that the platform had a security breach, the Bitcoin community went wild. Whenever there is a security breach, funds are inexplicably stolen. However, the BitQuick team claims that no funds have been stolen so far, but they will continue to keep the platform offline for a short period of time.

However, since the platform is offline, users are unable to withdraw funds from their accounts. Although BitQuick’s dedicated email address is still functional, it is difficult to get a response as many people are asking about their funds and how to withdraw them from the exchange wallet.

Although the announcement mentioned that the BitQuick team is currently working to fix the platform, this security breach has undoubtedly pushed BitQuick in another direction. Just last week, BitQuick was still enjoying the joy of having a 30-day trading volume of more than $1.5 million, so the timing of this test for BitQuick couldn’t be worse.

BitQuick CEO Jad Mubaslat

At present, the BitQuick team is conducting a comprehensive investigation into the vulnerability, but the entire investigation may take 4 weeks to complete. It is crucial for customers and staff to patch the vulnerability as soon as possible and conduct a rigorous review before the platform reopens.

However, this is not the only concern for BitQuick users, according to BitQuick's official statement, which seems to hint that they intend to sell the platform. Considering that many users are still waiting to withdraw their funds, the timing of such a decision is too premature and will inevitably lead to a large number of speculators in the Bitcoin community and disappoint the community.

According to the information provided in the announcement, BitQuick is looking for a new management team due to so-called "personal reasons". It is strange to make such a sudden decision after a major security breach on the platform, but this is not the first time.

Original article: http://themerkle.com/bitquick-shuts-down-and-looks-for-new-management-after-security-breach/
By JP Buntinx
Compiled by: Kyle
Source (translation): Babbitt Information (http://www.8btc.com/bitquick-shuts-down)