Bitcoin Exchange BitFloor Says It Will Replace Stolen Coins

angry tapir writes "Bitcoin exchanges generally don't seem to recover that easily after security breaches. However, BitFloor, which was hacked and had 24,000 Bitcoins stolen in early September, is coming back online, refunding account holders whose coins were stolen and implementing new security measures, including cold storage for private keys." The key word is "intends" — but I hope it happens as promised.

Comments

Re:Refund how?

[Wonko the Sane]

They are going to resume operation and earn money via trading fees. Assuming they get enough volume the profits will eventually be able to replay the depositors.

In other words they will try to earn their way out of insolvency.