Bitcoin Exchange BitFloor Shuts Down For Good

Bitcoin is the new bubble in the virtual financial space. The meteoric rise of Bitcoin valuation has lured in investors. tech geeks and crooks to the virtual currency market. The virtual currency market is currently on a rollercoaster ride where the fittest will survive only. The latest example of this is Bitcoin exchange BitFloor’s decision to shut down its operations.


The digital currency exchange has suspended all trading, and plans to return its remaining funds to users. The announcement of closure, penned by its founder Roman Shtylman, came yesterday. It is currently being posted in BitFloor’s home page.

I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. 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. As such, I have made the decision to halt operations and return all funds.

Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.

Last September, the exchange was hacked and lost 24,000 BTC (nearly half a million dollar at that time) in the incident to crooks. The exchange temporarily suspended its operations after the incident. Yesterday’s announcement marks the exchange’s final closure.

The announcement came a week after a New York-based startup raised $500,000 in seed funding to launch a Bitcoin trading platform.

Source: CNET

[ttjad keyword=”security”]

Share
Published by
Manoj

Recent Posts

Tricks to Build a killer LinkedIn Profile To Grow Your Personal Brand

Although there are 20 million jobs available on LinkedIn, to land one you need a solid strategy. The first of…

1 day ago

Top Educational App for Kids with Autism/disabilities

People with Disabilities might take longer time and double the effort to complete a task. But with the right assisting…

2 weeks ago

Things You Can Do To Stop Your Smartphone Addiction Right Now

If you spend more than 4 Hours on your Smartphone daily, then we are very sorry to say, you are…

2 weeks ago

How To Record Screen in Android & iPhone

iOS comes with built-in Screen-Recording feature. Whereas on Android you need to use a third-party app or the native Google…

2 months ago

Twine App: Save Money Together & Invest Your Spare Change

With Twine you always have access to your own money. You can request to withdraw money from your account at…

2 months ago

Best Video Conferencing Apps For Your Business [FREE]

Video Conferences become an essential part of the business. As time is super valuable for everyone, video conferences save the…

2 months ago