Crypto Exchange Service ShapeShift Offline After Hack

Digital currency exchange service ShapeShift is offline after a security incident earlier this week.

AccessTimeIconApr 8, 2016 at 8:55 p.m. UTC
Updated Aug 18, 2021 at 4:44 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Digital currency exchange service ShapeShift is offline after a security incident earlier this week.

A statement posted to Reddit by ShapeShift CEO Eric Voorhees offered more details as to why the site was taken offline, indicating an unknown quantity of funds had been taken from the service’s connected wallets. Customers with pending orders would receive their money within 24 hours, the company said.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Voorhees wrote:

    "Yesterday afternoon, we noticed several pieces of evidence indicating our server infrastructure was compromised and threatened. We made the decision to scrap that infrastructure, and rebuild in a wholly new and safe environment. This is what we are currently engaged in. While we hate having the service offline, it was the safer path."

    Voorhees did not give a timeline for when the service, which offers instant cryptocurrency exchange for a variety of cryptocurrencies, would be back online. A notice posted to the main ShapeShift website indicates that the service will be offline for at least several days.

    Prior to announcing the hack, ShapeShift had taken to Twitter to state that it had taken its website offline, citing maintenance.

    Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in ShapeShift.

    Computers offline image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.