BitQuick in the Dark after Server Attack, Assures Funds Are Secure – Coin News

bitquick-server-attack-5232075Just a few days ago, we were in deep discussion with Jad Mubaslat of BitQuick on his payment solutions platform. We covered dealing with fiat currency, Bitcoin services, and the importance of cryptocurrencies. Now after a few maintenance sessions, BitQuick is down for a indefinite time.

We are temporarily down for unexpected maintenance. All funds are secure, and withdrawal requests will still be processed!

— (@BitQuickco) March 15, 2016

Unfortunately due to a security compromise, we will be down for an indeterminable amount of time. No funds have been taken, all funds are still secured. Send urgent inquiries to

Posted by on Tuesday, 15 March 2016

In a statement published yesterday, BitQuick claimed that the attack, which took place on Monday, did not result in the loss of any customer funds or sensitive information.

“On Monday, March 14, 2016, our server fell victim to an attack that gave the attacker unauthorized administrative access. The breach was immediately noticed, and the server was shutdown to prevent any further damage. We are still performing a formal investigation to determine the attack vector, and specifically what information was obtained from the server. Due to additional security mechanisms in place, no funds were taken, and all ID’s (driver’s licenses, passports, etc.) and emails remain secured. Sellers were emailed withdrawal instructions Tuesday evening. All outstanding orders and withdrawals have been processed. Only 3% of all funds remain unclaimed.”

Analogous to this, the platform seems to have succumb to look for new management. According to Jad and Chad Davis,

“Completely separate from this event, BitQuick has been engaged in the search for new management due to personal reasons for the current team. It has been an incredible 2 and a half years, and it has been a wonderfully rewarding experience to be able to offer thousands of customers a simple and fast solution for trading Bitcoin and other cryptocurrencies, an experience that has no doubt been greatly enhanced by our remarkably dedicated and supportive user base. We know that our service is truly unique, and that our vision can still be fulfilled.”

The volume of Bitcoin transactions is a potent factor in the growth of Bitcoin adoption and the high trading volume significantly hints huge progress for Bitcoin. Having said that, Bitquick has over 40018.73 BTC sold and 36296 customers served to date. The hope to register immense Bitcoin progress in 2016 strengthens and becomes more concrete.

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