Bitstamp site goes down after network problem

Bitstamp had some trouble with its network and DDoS attacks last week, leading to users being unable to access the service for a while.

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Bitstamp site goes down after network problem

Bitstamp had some trouble with its network and DDoS attacks last week, leading to users being unable to access the service for a while.

The Slovenian Bitcoin exchange is the world’s third largest by trading volume.

The Bitstamp team took to Facebook to reassure customers that the technical difficulties were only a result of their banking software. They urged patience and no further support tickets from users.

CoinDesk reported that the problem stemmed from an issue with the company’s transaction log.

To complicate things, the site has suffered at least one DDoS attack, but increased trading volume due to Bitcoin’s rising value has not slowed the site, CEO Nejc Kodri? said.

Still, the backlog, according the subsequent site updates, caused Bitstamp staff members to have to manually check trades, slowing things down.

Since the downtime, Bitstamp has updated some of its infrastructure and hired four new support agents, bringing total staff to 15.

The outage came on the heels of news that a Chinese Bitcoin exchange, GBL, supposedly based in Hong Kong — we now know it was in Beijing — abruptly went offline, taking with it $4.1 million in investor accounts.

At the time of writing, the site is up and running. Bitcoins opened at $811.95 and have traded for as high as $848.

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