BITCOIN

Polish authorities launch probe into Bitcurex shutdown

TAGs: Bitcoin, Bitcurex, Poland

Authorities in Poland are investigating the closure of Bitcurex, a long-running bitcoin exchange in the country.

Launched in 2012, Bitcurex has processed over $50 million worth of bitcoin in Poland in 2016. But last October, the bitcoin exchange suddenly went offline. In a statement, Bitcurex informed its users that it has “encountered problems with an update,” prompting the company to “temporarily suspend the exchange as they work towards restoring service.”

Polish authorities launch probe into Bitcurex shutdownAt the time, the company did not mention a hack or loss of funds. But a week later, the exchange confirmed that its IT system was “damaged by an external interference,” resulting in the loss over 2,300 bitcoins worth more than $1.5 million at the time.

Bitcurex said it had already notified the authorities of the incident, which could be a potential crime.

The attack came after Bitcurex announced that it had added more layers to its platform. The exchange said it also formed a certified compliance department, to be overseen by the Poland Compliance Association, to assess customer risk and provide personal data protection.

The Prosecutor’s Office said it is investigating the case on suspicion of crimes against the property of third persons.

In a statement, Polish prosecutors said “Injured persons who have not submitted a notice of offense can submit such notices directly to the Prosecutor’s Office in Łódź. Written notices should, if possible, be accompanied by copies of the available documents or print-outs that confirm the amount of the incurred losses.”

This isn’t the first time that Bitcurex has fallen victim to a hacking attempt.

In 2014, a hack on the exchange forced the company to shut down the platform while its IT team performed “a necessary verification,” according to CoinDesk. The shutdown lasted for four days before Bitcurex restarted its operations.

Current bitcoin price

The price of bitcoin rose to $1,256.96 during early Thursday morning’s trading.

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