Now Vircurex: Bitcoin Exchanges See Troubled Times

Recently, what was one of the first and largest Bitcoin exchange platforms, Mt. Gox, halted all withdrawals, shut down, and declared bankruptcy. The CEO, Mark Karpelès, was once a member of the board of the Bitcoin Foundation, but resigned his position on February 23rd. The Japan-based company began having issues on February 7th, when they halted all withdrawals, citing a bug in the bitcoin software that “makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur.”
After over three weeks of no withdrawals, Mt.Gox suspended all trading on February 24th and the website went offline shortly after.  Leaked documents revealed the company was insolvent and had apparently lost over 700,000 bitcoins in a theft which had gone undetected for years. The company finally filed for bankruptcy protection in Japan on February 28th, and reported they had lost over 800,000 Bitcoins, worth around 473 million USD at the time of the filing. The company also filed for bankruptcy protection in the U.S on March 9th. Mt. Gox faces several law suits, including a massive class action lawsuit in the U.S.
More troubling news for the Bitcoin community came on March 23rd when another exchange, Vircurex, announced that they were freezing all user accounts as they neared financial ruin. Vircurex is based in Beijing and had suffered multiple hacking incidents last year, and large withdrawals in recent weeks leaves the exchange with two options according to the announcement. Vircurex stated that they froze accounts to prevent the exchange from going down completely. The announcement stated that: “Unfortunately we had large fund withdrawals in the last weeks which have led to a complete depletion of our cold wallet balance and we are now facing the option of either closing the site with significant unrecoverable losses for all or to work out a solution that allows the exchange to continue to operate and gradually pay back the losses.”
Despite Vircurex’s assurances to the contrary, the developments at Vircurex are eerily similar to Mt. Gox’s issues before it went down. Many coins on Vircurex are experiencing similar behavior to Mt. Gox, where the coins were worth more than on the other exchanges. Hopefully, Vircurex there are no more surprises left from Vircurex.
Vircurex and Mt. Gox are not the only exchanges to be having issues. Recently Flexcoin and Crypto-Trade have been forced to shut down, while Poloniex promises to pay investors back after suffering a cyberattack.

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Bittrex exchange already supports 40 cryptocurrencies

New crypto exchange already supports 40 cryptocurrencies   Bittrex launched with 10 currencies, but just after 3 weeks they already support 40 coins. You can trade well known coins like Bitcoin, Litecoin, Dogecoin or Nxt, or new cryptocurrencies like Coin2, MyriadCoin, MintCoin, GPUCoin and  Blackcoin. You can also buy new country coins Auroracoin (Iceland), AphroditeCoin (Cyprus), Mazacoin (Oglala Lakota Nation) and SpainCoin (Spain).
You can vote on new coins added to this exchange here:
Some of these coins were distributed preferably only via, like GPUCoin. If you are planning to release a new coin and want to distribute it by IPO or giveaway, you can contact [email protected] find a solution.
If you want to get some free coins, you can participate on Bittrex giveaways, like here:
Now you can get free Mintcoins and Blackcoins. Bittrex is a next generation crypto trading platform built and operated in the United States by crypto enthusiasts with extensive development and security background.  The Bittrex team has over 50 combined years in the computer industry at companies like Microsoft, Amazon, Qualys, and Blackberry and have made careers developing secure and scalable software.
Bittrex’s mission is to deliver the fastest and most secure trading platform for the community.   Their goal is to add coins based on community demand. The infrastructure allows to add coins quickly to their exchange. The exchange has no problem with new generation crypto currencies like Nxt, where are used different API calls.
Features of Bittrex exchange:

Custom built trading engine – Bittrex’s custom trading engine was developed from the ground up with speed and scale as the priority.  Orders are executed as soon as they are placed and you will never see a crossed order book or a delay in processing of any trades.
Secure platform – Bittrex employs the latest security technologies to protect users and us.  Exchange uses an elastic multi stage wallet strategy ensuring that 80-90% of funds are offline and safe.  Additionally two-factor authentication (through email or google authenticator) is required for all withdrawals and API usage.  They designed everything from the ground up with security in mind.
Fast deposits and withdrawals – Bittrex’s fully automated monitoring platform allows for near instantaneous updates on balance, trade, and wallet information.  Users will never be left wondering where your funds are or if your deposits are blocked.  Information is always up to date.
Complete and easy REST API – Bittrex designed the most complete API set for developers to build on our platform.  Full featured set of APIs allow you to easily deposit, trade, and withdraw to and from our exchange, enabling arbitrage scenarios never possible before.  Bittrex was built with high frequency trading in mind.

Meet the Bittrex team:

Bill Shihara Bill is currently the Manager of Security Threat Analysis and Security Engineering at BlackBerry. He drives the anti-malware and security automation strategy for the BlackBerry ecosystem to protect customers from threats before they happen. Previous to working at BlackBerry, Bill spent 11 years at Microsoft working on the Windows Operating System and the Trustworthy Security team.
Rami Kawach: Rami is currently Director of Engineering at Qualys where he is the architect of their next generation vulnerability management solution and malware detection system. His background in highly scalable and available systems along with expertise in performance optimization makes him the perfect person to architect the exchange.
Richie Lai: Richie is currently the manager of the Amazon Security Operations Center and is in charge of security response and operations for Amazon. Prior to that, he spent 12 years at Microsoft building up their security engineering and internet crimes division. His background in application and network security, internet crimes and malware makes him the most paranoid person at protecting his and your crypto currencies.

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Contact: [email protected]