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Darren Anstee, Director of Solutions Architects at Arbor Networks:

“Like any digital asset Bitcoin is susceptible to hackers, especially given their rise in popularity and value. And, over the past few years, we have seen a variety of methods used by criminals to either steal Bitcoins or the resources required to create them, with various platforms being targeted and utilised.

“Most regulatory bodies do not currently insure Bitcoin, making it substantially more risky to hold the currency. As is the case with Bitstamp, deposits are usually held in air-gapped ’cold storage’ (separated from the internet) to minimise risk. However, it is inevitable that some Bitcoins will remain accessible in wallets etc., and so further precautions must be taken to protect them. After a breach such as this, it will be important for Bitstamp to be able to audit the activity on their systems and networks to find out exactly what has happened. Having tools that allow ready analysis of historic traffic patterns and activities is becoming increasingly important to organisations so that they can react quickly to prevent and minimise any damage.”