Bitcoin Exchange Bitstamp Suspends Operations Following HackThe world's second busiest USD Bitcoin exchange is offline after some of its operational wallets were compromised.

ByKim Lachance Shandrow

Opinions expressed by Entrepreneur contributors are their own.

Updated 5:15 p.m. ET with statement from Bitstamp

Fueling fears of a太Gox-caliber崩溃, Bitstamp -- the world's second most-trafficked USD bitcoin exchange -- ceased operations today in the wake of a hack.

The Slovenia- and UK-based bitcoin marketplace temporarily halted withdrawals, then later completely shut down, after discovering that some of its operational "hot wallets" were compromised yesterday.

Related:Bitcoin Named Worst-Performing Currency of 2014

在一份声明中,狗万官方late Monday, Bitstamp said that less than 19,000 BTC, or about $5.1 million at today's pricing, was lost and assured that all customers will be able to recover the balances they held before service was halted. "This breach represents a small fraction of Bitstamp's total bitcoin reserves, the overwhelming majority of which are held in secure offline cold storage systems. We would like to reassure all Bitstamp customers that their balances held prior to our temporary suspension of services will not be affected and will be honored in full."

The site is being transitioned onto a "new safe environment" and is expected to resume service in coming days, the company said.

Related:Microsoft Is Now the Largest Company in the World to Accept Bitcoin

The trouble at the popular exchange couldn't come at a worse time for the ultra-hyped virtual money, only days ago dubbedthe world's worst-performing currency of 2014. Today its price fell below $270, the cryptocurrency's lowest value since 2013. According to theCoinDesk Price Index, Bitstamp只是时间arily suspended from, Bitcoin is currently trading at $270.

Related:Where to Stash That Cryptocash? This Man Put It Under His Skin.

Wavy Line
Kim Lachance Shandrow

Former West Coast Editor

Kim Lachance Shandrow is the former West Coast editor at Entrepreneur.com. Previously, she was a commerce columnist atLos Angeles CityBeat,a news producer at MSNBC and KNBC in Los Angeles and a frequent contributor to theLos Angeles Times. She has also written forGovernment Technologymagazine,LA Yogamagazine, theLowell Sunnewspaper, HealthCentral.com, PsychCentral.com and the former U.S. Surgeon General, Dr. C. Everett Coop. Follow her on Twitter at@Lashandrow. You can also follow her on Facebookhere.

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