Bitcoin Exchange Bitstamp Halts Withdrawals After Attack

Bitcoin Wallpaper The renowned Bitcoin exchange Bitstamp has said that it is going to suspend all Bitcoin withdrawals. The cause of suspension is the same malleability bug which led to a freezing of withdrawals at M Gox earlier in the week.

A core developer of Bitcoin Jeff Garzik has said that the problem is more widely spread than previously though and more work may be needed to patch other software too. “It’s mainly a nuisance forcing everybody to stop and fix their website software and Bitcoin wallets, ” he said while talking to the Verge.

BitStamp has assured that the attack has not result in any loss of funds in its system and but the processing of transactions has been held for two days as a preemptive measure so that it could fix the issue.

However, there are all chances that other Bitcoin exchanges might also be affected or at least be at the risk. Andreas Antonopolouos, a Blockchain developer has told Coindesk that it is expected that other exchanges will also follow Bitstamp path and suspend withdrawal while they fix the system to defy the recent attacks.

Transaction malleability bug has been existing in the Bitcoin system and different sites have tried to address it in different way which means that the actual exposure varies from one site to another.

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