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Bitstamp Withdrawals Go Back to Full Automation

Avatar Jayanand Sagar 6 years ago

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Bitcoin exchange Bitstamp has posted a follow-up to a news update Friday that announced that withdrawals were once again being processed.

Saturday’s news indicates that withdrawals are now fully automated, as they were before they were halted this week due to a distributed denial of service attack that took advantage of a transaction malleability flaw in the bitcoin software that also brought down withdrawals at Mt. Gox — a highly talked about event.

When Bitstamp opened withdrawals Friday, the exchange exercised maximum caution by processing each request manually.

“After rigorous testing, we have restored fully automated processing for Bitcoin withdrawals,” the company said in their statement.

The news was followed by words of hope in the bitcoin technology:

Unforeseen incidents like this DoS attack against an edge case in the Bitcoin protocol are to be expected with such a young technology. The core protocol remains sound and the world has seen how these incidents are addressed by the Bitcoin community. Every challenge that is successfully overcome is a milestone that allows the world to grow their confidence in Bitcoin.

Users in the bitcoin community have praised Bitstamp for how they’ve handled the situation.

“Glad to use them as my main exchange,” wrote one user on the social sharing website

“These guys are a class act,” another said.

Certainly, some positive news. How do you think Bitstamp has handled the entire situation? Could it have been done any better?

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