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Hacked Bitcoin exchange BitFloor back online, founder promises to repay stolen funds

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Bitcoin Logo
Bitcoin Logo

BitFloor, the Bitcoin exchange site that had about $250,000 in virtual currency stolen earlier this month, has reopened with a promise to make the theft up to users. In an interview with IDG, founder Roman Shtylman said that "I feel it's important to try and be clear of my intention to try and recover the coins," although he called that payback a "long-term plan" and said he wasn't sure when it would be done. For now, BitFloor is working again, and Shtylman says he's reported the theft to the FBI.

While the decentralized and anonymous nature of Bitcoin makes the currency attractive for thieves, the hack was a result of unrelated weak security, something Shtylman now says he's fixed. Many Bitcoin users expressed support online for getting the service back online, and Shtylman reports that "most users and existing members of the community have been very supportive." If he does actually pay back the money, it could also bolster confidence in the currency after recent pyramid schemes. Outside a relatively small group of devotees, though, banking with Bitcoin may still look risky.