Archive for the ‘Crypto News’ Category

The BitStamp Crypto Currency Exchange Temporary Unavailable

5, Jan 2015

bitstamp-temporary-suspended

BitStamp, one of the top Bitcoin exchanges at the moment is temporary unavailable as security precaution due to possible compromise of some of their hot wallets. The downtime should not take a lot of time and there is probably no reason to be concerned about the possible problem as the service does store most of the coins in their cold wallet. Only some of the deposits/withdraws that have happened in the last few hours might be affected and these should be covered by BitStamp. In the meantime, while the service is temporary unavailable, there is a warning to users of the exchange not to send any coins to their wallets as these deposits will not appear in your balance, so you should wait for BitStamp to be fully operational before doing any coin deposits.

Update: It seems that the security breach on January 4th have caused some of Bitstamp’s operational wallets to be compromised, resulting in a loss of less than 19000 BTC according to the latest update from the exchange. The service is still not back to normal operation, but Bitstamp reassures their customers that they don’t have to worry that they will loose their coins.

This breach represents a small fraction of Bitstamp’s total bitcoin reserves, the overwhelming majority of which are held in secure offline cold storage systems. We would like to reassure all Bitstamp customers that their balances held prior to our temporary suspension of services will not be affected and will be honored in full.

It Seems That the Mining ASICS Technologies Went Bankrupt

2, Jan 2015

mining-asics-technologies-image

The Dutch company Mining ASICS Technologies (MAT) is now insolvent (bankrupt) according to information we got from our colleagues at Bitcoin Update. We have covered Mining ASICS Technologies multiple times so far and lately they did have some trouble as their main focus was Scrypt ASIC miners which they were late to deliver and in fact it seems that just very few customers got their mining hardware from MAT. If you have not received what you have paid for you can contact the bankruptcy trustee appointed to deal with the company for additional information on how you should proceed. The bankruptcy trustee contact information provided by BitcoinUpdate.nl is quoted below. The official website of the company is not longer available or at least at the moment we are getting an error message when we try to open it.

You can contact curator (trustee)
Curator Mr. C.F.M.P. Spreksel, Wilhelminasingel 63, 6221 BG Maastricht.
Tel: 043-3432859

ZeusHash May Start Terminating Scrypt Cloud Mining Contracts

19, Dec 2014

zeushash-website

We just got a not so pleasant surprise from ZeusHash in the form of a notifications that they may start terminating customers’ Scrypt cloud mining contracts. With “lifetime” cloud mining contracts offered by services such as ZeusHash the duration of the contract is until the coins you mine result in more than what you have to pay for the daily maintenance fee. If the mined coins end up being less than what you need to pay for maintenance for a period of time, 10 consecutive days for ZeusHash, then your Scrypt cloud mining hashrate contract will be terminated. We were just notified that there was one such day and if we get 9 more days like that our Scrypt cloud mining contract will be terminated as it would have reached its “lifetime” term. Below you can see a quote of the notification that we and apparently every other ZeusHash customer with Scrypt cloud mining hashrate probably has received today.

Dear Customer,

This is an important notice for your MHS contracts.

Due to the surging of Litecoin minining difficulty, the daily payout of MHS fails to cover the maintenance fee today. According to the term of MHS contract, “the payout allocation will be terminated in case the daily mining return is lower than the maintenance fee for 10 days in a row”.

We are sorry to inform you when this continues for 10 consecutive days, we’ll have to terminate your MHS contracts. We didn’t expect this happening so soon but we have no other choice.

For now, GHS will be a better investment and we recommend you to buy GHS instead. And to thank you for your long-term support and faith in us, we’d like to give you a GIFT of 5 GHS so you can continue with your profits in cloud mining. Please check your balance in 24 hours.

Besides, to provide more ROI despite the termination of your MHS contract, we are offering you the LOWEST PRICE TIER @ $0.419 per GHS for your FIRST ORDER between Dec. 20th and Dec. 21st(UTC+8). More promotions are on the way for Christmas as well. Stay tuned for the good news soon.

In the meanwhile, we’ll strengthen our efforts to find you better contracts–MHS with lower costs for a better ROI and cloud mining investment.

Best Regards,
ZeusHash CS Team


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