After the Bitfinex Hack, Here’s Why Bitstamp Is Sticking With BitGo
In the aftermath of the recent theft of more than $65 million worth of bitcoins from Bitfinex, parts of the Bitcoin community have been wondering what role BitGo’s multisig-focused security offering may have played in the whole ordeal.
According to the company’s website, BitGo handles more than 10,000 Bitcoin transactions per day and helps its users transfer more than $1 billion worth of value per month. Many exchanges, such as Bitstamp and Kraken, use BitGo’s services.
Bitcoin Magazine reached out to Bitstamp Head of Business Development Vasja Zupan to get the exchange’s thoughts on BitGo in light of the recent hack.
Sticking with BitGo
When asked whether Bitstamp has had any second thoughts about its use of BitGo’s multisig architecture, Zupan was quick to come to the blockchain security company’s defense. ‘For now, Bitstamp does not see any reason for second thoughts about using BitGo’s technology,’ he said. ‘We believe that proper implementation, regular audits, and overall strong security policies make all the difference.’
This post was published at Bitcoin Magazine on Aug 08, 2016.