Security is one of the major concerns when it comes to the bitcoin industry. There have been so many instances where the security of bitcoin platforms was breached by hackers, making away with loads of bitcoin. The history has taught bitcoin businesses not to compromise on the security of their products, as it may end up causing some serious damage to their reputation. Even with bitcoin exchanges and wallet providers implementing the best security features, they still face the threat.
Yesterday, BitQuick, a peer to peer bitcoin exchange platform decided to take down the site after detecting a security breach on their trading platform. The company’s webpage now hosts a message explaining the incident, and subsequent steps taken by BitQuick to mitigate the situation.
According to the founders of BitQuick – Jad Mubaslat and Chad Davis, their platform’s server was attacked by someone to gain unauthorized administrative access. Luckily, the security system working as it is supposed to work detected the break-in early on. The BitQuick administrators are said to have reacted quickly by shutting down the servers to repel serious damage to the platform.
BitQuick platform is expected to stay offline for another 2-4 weeks until the damage assessment is done. The company is currently