Canadian Bitcoin exchange Vault of Satoshi is shutting down next month in the latest bad news to hit the cryptocurrency. <\/p>\n
The operators of the exchange said they are focusing on another business project that began six months ago, one that is not related to cryptocurrency. <\/p>\n
Run by Global CryptoCurrency Solutions, the Brantford, Ontario-based exchange is no longer accepting new deposits and will close Feb. 5. <\/p>\n
Wed like to reassure the community that it has absolutely nothing to do with insolvency, stolen funds, or any other unfortunate scenario, the operators wrote in a post. Our decision stems from opportunities presented by a new business that has forced us to reexamine our priorities. <\/p>\n
The company did not immediately respond to a request for more information. Its cofounder Michael Curry is also behind TurboFlix, a Web service that allows Canadians to watch Netflix content available in other countries. <\/p>\n
Vault of Satoshi launched in October 2013 and describes itself as the first full proof-of-reserve exchange in the industry. <\/p>\n
Its closure comes as European Bitcoin exchange Bitstamp said in a post that some of its operational wallets were compromised Jan. 4, leading to a loss of less than 19,000 bitcoins, which is roughly US$5.1 million. <\/p>\n
The bulk of our bitcoin are in cold storage, and remain completely safe, Bitstamp co-founder Nejc Kodric wrote in a Twitter message. <\/p>\n
The exchange, launched in August 2011, had tried to reassure customers that their coins are safe after a breach over the weekend forced it to suspend operations on Monday. <\/p>\n
Bitstamp added that it is investigating the matter and communicating with law enforcement officials. <\/p>\n
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