Cryptocurrency Exchange BitStamp Suspends Trading for Months due to fraud
Cryptocurrencies have been a wild ride this year.
While the price of a single bitcoin has dropped from a high of $1,500 in late January, the price has surged again in the past few days.
The cryptocurrency’s rally has been fueled by an unprecedented amount of new coins being issued on the Ethereum blockchain, which is an open source blockchain.
These new coins have a value of approximately $1.5 trillion.
The recent spike in price comes amid a number of security breaches, including one that was revealed last month that compromised more than 30 million credit cards and led to a loss of more than $100 million.
As a result, BitStamps cryptocurrency exchange halted trading on January 18, citing a breach.
The exchange has since reinstated trading and is currently trading at a market price of $539.00.
While BitStAMP is not a bitcoin exchange, it does accept bitcoin as payment.
BitStamping was previously known as Bitfinex, the name of the Bitcoin exchange that became Bitstamp.
The exchange’s website has since been updated to reflect this.
It is unclear if BitStamped will continue to offer trading on its exchange.
However, the exchange will continue accepting bitcoin as an alternative payment option.
Cryptocurrency prices are up dramatically for many reasons, from the fact that governments are seizing money and launching new wars to new currencies popping up all over the world.
For now, however, the rise of cryptocurrency has only pushed prices higher.