Bitfloor - Revision history

NotATether: Bitfloor: Funding

2026-10-16T10:31:04Z

Bitfloor: Funding

← Older revision		Revision as of 10:31, 16 October 2026
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	'''Bitfloor''' was a FinCEN-registered Bitcoin [[currency exchange]] and trading platform headquartered in New York, USA. In September 2012 Bitfloor reported a theft of about 24,000 BTC.<ref name="verge">[https://www.theverge.com/2012/9/5/3293375/bitfloor-bitcoin-exchange-suspended-theft The Verge: BitFloor suspends after theft (5 Sep 2012)]</ref> On 17 April 2013 the exchange halted operations after its bank would reportedly close Bitfloor's bank account.<ref name="cnet">[https://news.cnet.com/8301-1023_3-57580163-93 CNET: BitFloor halts operations (17 Apr 2013)]</ref>		'''Bitfloor''' was a FinCEN-registered Bitcoin [[currency exchange]] and trading platform headquartered in New York, USA. In September 2012 Bitfloor reported a theft of about 24,000 BTC.<ref name="verge">[https://www.theverge.com/2012/9/5/3293375/bitfloor-bitcoin-exchange-suspended-theft The Verge: BitFloor suspends after theft (5 Sep 2012)]</ref> On 17 April 2013 the exchange halted operations after its bank would reportedly close Bitfloor's bank account.<ref name="cnet">[https://news.cnet.com/8301-1023_3-57580163-93 CNET: BitFloor halts operations (17 Apr 2013)]</ref>

	==Funding==		== Funding ==
	~~Bitfloor was praised for the ease of accepting~~ USD cash deposits through [[LocalTill~~]], which~~ at the ~~date~~ of ~~the~~ closing, ~~supported [[Bank of America]] and charged~~ a 1%-4% fee ~~to process the deposit~~. Other ~~funding~~ options included bank ~~wire transfers (%15 fee)~~ and CapitalOne 360 ~~P2p (formerly ING Person2Person), with no fee~~. Withdrawals ~~were done via~~ ACH and ~~took 1 to 3 business days. Withdrawals~~ required ~~uploading~~ a ~~copy of the user's~~ government-issued ID. This was the only point at which the identity of the user was required; otherwise, Bitfloor's privacy policies did not ask for any identification information.<ref>[https://bitfloor.com/docs/#privacy Bitfloor privacy]</ref>		USD cash deposits were accepted through LocalTill (Bank of America at the time of closing, with a reported 1%–4% fee). Other options included bank wires and CapitalOne 360 P2P. Withdrawals used ACH and required a government-issued ID upload. BTC deposits and withdrawals were fee-free. Large BTC withdrawals were processed manually from cold storage.

	BTC deposits and withdrawals ~~could be made at no~~ fee. Large withdrawals were processed manually~~, due to Bitfloor storing most bitcoins in offline [[Cold~~ storage~~\|cold wallets]]~~.

	== Trading ==		== Trading ==

NotATether: Bitfloor: Trading

2026-10-16T10:22:33Z

Bitfloor: Trading

← Older revision		Revision as of 10:22, 16 October 2026
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	BTC deposits and withdrawals could be made at no fee. Large withdrawals were processed manually, due to Bitfloor storing most bitcoins in offline [[Cold storage\|cold wallets]].		BTC deposits and withdrawals could be made at no fee. Large withdrawals were processed manually, due to Bitfloor storing most bitcoins in offline [[Cold storage\|cold wallets]].

	==Trading==		== Trading ==
	Trades ~~could be done via~~ a web interface, ~~or by using the~~ REST API or FIX ~~([[Wikipedia:Financial_Information_eXchange\|Financial Information eXchange]])~~ order entry gateway~~.<ref>[http://bitcointalk.org/index.php?topic=66045.0 FIX gateway available on bitfloor.com]</ref>.~~		Trades ran through a web interface, a REST API, or a FIX order-entry gateway. Market orders that executed immediately incurred a 0.4% fee. Orders that did not execute immediately received a 0.1% rebate.

	~~===Fees===~~
	~~Bitfloor employed a fee structure designed to incentivise market makers~~. Market orders, that ~~execute~~ immediately, incurred a 0.4% fee. Orders that ~~don't~~ execute immediately received a 0.1% rebate~~, to encourage liquidity providers to offer information about their market expectations~~.

	== History ==		== History ==

NotATether: Bitfloor: encyclopedic lead

2026-10-16T07:29:31Z

Bitfloor: encyclopedic lead

← Older revision		Revision as of 07:29, 16 October 2026
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	'''Bitfloor''' was a FinCEN-registered Bitcoin [[currency exchange]] and trading platform ~~site~~ headquartered in ~~the state of~~ New York, USA. In September 2012, Bitfloor ~~was hacked, with~~ 24,000 ~~bitcoins being stolen~~.<ref name="~~24k-hack-~~verge">[~~http~~://www.theverge.com/2012/9/5/3293375/bitfloor-bitcoin-exchange-suspended-theft ~~Bitcoin exchange~~ BitFloor suspends ~~operations~~ after ~~$250,000~~ theft]</ref> On April ~~17,~~ 2013 the exchange halted operations after its bank would reportedly close Bitfloor's bank account.<ref>[~~http~~://news.cnet.com/8301-1023_3-57580163-93 ~~Bitcoin exchange~~ BitFloor halts operations~~, shuts down~~]</ref>		'''Bitfloor''' was a FinCEN-registered Bitcoin [[currency exchange]] and trading platform headquartered in New York, USA. In September 2012 Bitfloor reported a theft of about 24,000 BTC.<ref name="verge">[https://www.theverge.com/2012/9/5/3293375/bitfloor-bitcoin-exchange-suspended-theft The Verge: BitFloor suspends after theft (5 Sep 2012)]</ref> On 17 April 2013 the exchange halted operations after its bank would reportedly close Bitfloor's bank account.<ref name="cnet">[https://news.cnet.com/8301-1023_3-57580163-93 CNET: BitFloor halts operations (17 Apr 2013)]</ref>

	==Funding==		==Funding==

NotATether: Bitfloor: History

2026-10-16T07:21:45Z

Bitfloor: History

← Older revision		Revision as of 07:21, 16 October 2026
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	Bitfloor employed a fee structure designed to incentivise market makers. Market orders, that execute immediately, incurred a 0.4% fee. Orders that don't execute immediately received a 0.1% rebate, to encourage liquidity providers to offer information about their market expectations.		Bitfloor employed a fee structure designed to incentivise market makers. Market orders, that execute immediately, incurred a 0.4% fee. Orders that don't execute immediately received a 0.1% rebate, to encourage liquidity providers to offer information about their market expectations.

	==~~Anonymity~~==		== History ==
	Bitfloor ~~allowed access through Tor and did not require any personally identifiable information until the user wished to withdraw money using ACH~~. ~~Cash deposits could be made via~~ [~~[LocalTill~~]~~] -~~> ~~Bank~~ of ~~America~~. ~~No ID or personal information is required, and~~ bank ~~tellers do not ask for~~ the ~~reason the deposit is made~~.		Bitfloor operated from 2011, with early public attention in February 2012.<ref>[https://www.youtube.com/watch?v=F7SsavHX6tc The Bitcoin Show – Roman Shtylman of Bitfloor]</ref> It registered with FinCEN as a Money Service Business on 15 March 2012.

			On 4 September 2012 the operator reported a security breach that emptied an exchange wallet of about 24,000 BTC.<ref name="verge" /> Access to customer funds was restricted while reserves were insufficient. Partial repayments were discussed on Bitcointalk into late 2012.

			On 17 April 2013 CNET reported that Bitfloor halted after its bank closed the account.<ref name="cnet" />

	== See also ==		== See also ==

NotATether: Bitfloor: See also

2026-10-16T07:13:57Z

Bitfloor: See also

← Older revision		Revision as of 07:13, 16 October 2026
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	Bitfloor allowed access through Tor and did not require any personally identifiable information until the user wished to withdraw money using ACH. Cash deposits could be made via [[LocalTill]] -> Bank of America. No ID or personal information is required, and bank tellers do not ask for the reason the deposit is made.		Bitfloor allowed access through Tor and did not require any personally identifiable information until the user wished to withdraw money using ACH. Cash deposits could be made via [[LocalTill]] -> Bank of America. No ID or personal information is required, and bank tellers do not ask for the reason the deposit is made.

	==~~History~~==		== See also ==
	~~The exchange had been operating since 2011 with its first publicity occurring in February 2012<ref>~~[~~http://www.youtube.com/watch?v=F7SsavHX6tc The Bitcoin Show - 056 - Roman Shtylman of Bitfloor.com~~]~~</ref>.~~		* [[Buying bitcoins]]
			* [[Selling bitcoins]]
	On September 4, 2012 the operator of BitFloor reported a security breach that resulted in the exchange's wallet with '''24K BTC being stolen'''.<ref name="24k-hack-verge" /> The site was shuttered and access to customer funds denied as the exchange's reserves were insufficient to accommodate all funds deposited. As of March 8, 2013, 3 months had passed since the last repayment (December 2012), and the operator had been unresponsive.<ref>[https://bitcointalk.org/index.php?topic=144509.msg1599788#msg1599788 It's been 3 months since the first BTC re-payment in early December.]~~</ref>~~

	~~On April 3, 2012, the website was down for several minutes.<ref>~~[~~https://bitcointalk.org/index.php?topic=166254.0 bitfloor down?!]</ref>~~

	~~BitFloor became a Money Service Business (MSB) registered with FinCEN (#31000005224108) on March 15, 2012.<ref>~~[~~http://www.fincen.gov/financial_institutions/msb/msbstateselector.html FinCEN search~~]~~</ref>~~

	On April 17, 2013 the exchange halted operations after its bank announced it would close its account. While no official reason for the closure has been communicated, it has been hypothesized that the likely cause was the nature of the transactions (relatively large amounts going in and out rapidly), which triggered an elevated risk profile, rather than money laundering suspicions.<ref>[https://bitcointalk.org/index.php?topic=179135.msg1869466#msg1869466 Bitcointalk.org thread on possible reasons for closure]~~</ref>~~

	== External links ==		== External links ==

NotATether: Bitfloor: External links

2026-10-16T06:52:26Z

Bitfloor: External links

← Older revision		Revision as of 06:52, 16 October 2026
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	On April 17, 2013 the exchange halted operations after its bank announced it would close its account. While no official reason for the closure has been communicated, it has been hypothesized that the likely cause was the nature of the transactions (relatively large amounts going in and out rapidly), which triggered an elevated risk profile, rather than money laundering suspicions.<ref>[https://bitcointalk.org/index.php?topic=179135.msg1869466#msg1869466 Bitcointalk.org thread on possible reasons for closure]</ref>		On April 17, 2013 the exchange halted operations after its bank announced it would close its account. While no official reason for the closure has been communicated, it has been hypothesized that the likely cause was the nature of the transactions (relatively large amounts going in and out rapidly), which triggered an elevated risk profile, rather than money laundering suspicions.<ref>[https://bitcointalk.org/index.php?topic=179135.msg1869466#msg1869466 Bitcointalk.org thread on possible reasons for closure]</ref>

	==~~See Also~~==		== External links ==
			* [https://bitfloor.com Bitfloor]
	* [~~[Buying bitcoins]~~]		* [https://github.com/bitfloor bitfloor on GitHub]
	* [~~[Selling bitcoins]~~]

	== References ==		== References ==

NotATether: Bitfloor: References and categories.

2026-10-15T18:05:35Z

Bitfloor: References and categories.

← Older revision		Revision as of 18:05, 15 October 2026
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	* [[Selling bitcoins]]		* [[Selling bitcoins]]

	==~~External Links~~==		== References ==
			<references />

	* [~~https~~:~~//bitfloor.com BitFloor~~] ~~website~~		[[Category:Defunct exchanges]]
	* [~~https~~:~~//github.com/bitfloor github~~] ~~page~~		[[Category:Defunct companies]]
	* [http://bitcoincharts.com/charts/chart.png?width=940&m=bitfloorUSD&SubmitButton=Draw&r=60&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0& Chart]

NotATether: Bitfloor: remove old References (rewrite in progress).

2026-10-15T17:57:44Z

Bitfloor: remove old References (rewrite in progress).

← Older revision		Revision as of 17:57, 15 October 2026
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	* [https://github.com/bitfloor github] page		* [https://github.com/bitfloor github] page
	* [http://bitcoincharts.com/charts/chart.png?width=940&m=bitfloorUSD&SubmitButton=Draw&r=60&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0& Chart]		* [http://bitcoincharts.com/charts/chart.png?width=940&m=bitfloorUSD&SubmitButton=Draw&r=60&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0& Chart]

	~~==References==~~
	~~<References />~~

Cryptal: Transform into historical article

2013-04-21T10:23:03Z

Transform into historical article

← Older revision		Revision as of 10:23, 21 April 2013
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	'''Bitfloor'''~~, formerly~~ a Bitcoin [[currency exchange]] and trading platform site.		'''Bitfloor''' was a FinCEN-registered Bitcoin [[currency exchange]] and trading platform site headquartered in the state of New York, USA. In September 2012, Bitfloor was hacked, with 24,000 bitcoins being stolen.<ref name="24k-hack-verge">[http://www.theverge.com/2012/9/5/3293375/bitfloor-bitcoin-exchange-suspended-theft Bitcoin exchange BitFloor suspends operations after $250,000 theft]</ref> On April 17, 2013 the exchange halted operations after its bank would reportedly close Bitfloor's bank account.<ref>[http://news.cnet.com/8301-1023_3-57580163-93 Bitcoin exchange BitFloor halts operations, shuts down]</ref>

			==Funding==
			Bitfloor was praised for the ease of accepting USD cash deposits through [[LocalTill]], which at the date of the closing, supported [[Bank of America]] and charged a 1%-4% fee to process the deposit. Other funding options included bank wire transfers (%15 fee) and CapitalOne 360 P2p (formerly ING Person2Person), with no fee. Withdrawals were done via ACH and took 1 to 3 business days. Withdrawals required uploading a copy of the user's government-issued ID. This was the only point at which the identity of the user was required; otherwise, Bitfloor's privacy policies did not ask for any identification information.<ref>[https://bitfloor.com/docs/#privacy Bitfloor privacy]</ref>

			BTC deposits and withdrawals could be made at no fee. Large withdrawals were processed manually, due to Bitfloor storing most bitcoins in offline [[Cold storage\|cold wallets]].

			==Trading==
			Trades could be done via a web interface, or by using the REST API or FIX ([[Wikipedia:Financial_Information_eXchange\|Financial Information eXchange]]) order entry gateway.<ref>[http://bitcointalk.org/index.php?topic=66045.0 FIX gateway available on bitfloor.com]</ref>.

			===Fees===
			Bitfloor employed a fee structure designed to incentivise market makers. Market orders, that execute immediately, incurred a 0.4% fee. Orders that don't execute immediately received a 0.1% rebate, to encourage liquidity providers to offer information about their market expectations.

			==Anonymity==
			Bitfloor allowed access through Tor and did not require any personally identifiable information until the user wished to withdraw money using ACH. Cash deposits could be made via [[LocalTill]] -> Bank of America. No ID or personal information is required, and bank tellers do not ask for the reason the deposit is made.

	==History==		==History==

	The exchange had been operating since 2011 with its first publicity occurring in February 2012<ref>[http://www.youtube.com/watch?v=F7SsavHX6tc The Bitcoin Show - 056 - Roman Shtylman of Bitfloor.com]</ref>.		The exchange had been operating since 2011 with its first publicity occurring in February 2012<ref>[http://www.youtube.com/watch?v=F7SsavHX6tc The Bitcoin Show - 056 - Roman Shtylman of Bitfloor.com]</ref>.

	On September 4, 2012 the operator of BitFloor reported a security breach that resulted in the exchange's wallet with '''24K BTC being stolen'''. The site was shuttered and access to customer funds denied as the exchange's reserves were insufficient to accommodate all funds deposited. As of March 8, 2013, 3 months had passed since the last repayment (December 2012), and the operator had been unresponsive.<ref>[https://bitcointalk.org/index.php?topic=144509.msg1599788#msg1599788 It's been 3 months since the first BTC re-payment in early December.]</ref>		On September 4, 2012 the operator of BitFloor reported a security breach that resulted in the exchange's wallet with '''24K BTC being stolen'''.<ref name="24k-hack-verge" /> The site was shuttered and access to customer funds denied as the exchange's reserves were insufficient to accommodate all funds deposited. As of March 8, 2013, 3 months had passed since the last repayment (December 2012), and the operator had been unresponsive.<ref>[https://bitcointalk.org/index.php?topic=144509.msg1599788#msg1599788 It's been 3 months since the first BTC re-payment in early December.]</ref>

	On April 3, 2012, the website was down for several minutes.<ref>[https://bitcointalk.org/index.php?topic=166254.0 bitfloor down?!]</ref>		On April 3, 2012, the website was down for several minutes.<ref>[https://bitcointalk.org/index.php?topic=166254.0 bitfloor down?!]</ref>
Line 12:		Line 24:
	BitFloor became a Money Service Business (MSB) registered with FinCEN (#31000005224108) on March 15, 2012.<ref>[http://www.fincen.gov/financial_institutions/msb/msbstateselector.html FinCEN search]</ref>		BitFloor became a Money Service Business (MSB) registered with FinCEN (#31000005224108) on March 15, 2012.<ref>[http://www.fincen.gov/financial_institutions/msb/msbstateselector.html FinCEN search]</ref>

	On April 17, 2013 the exchange halted operations after its bank was ~~to close~~ the ~~exchange's bank account~~<ref>[~~http~~://~~news~~.~~cnet~~.~~com/8301-1023_3-57580163-93 Bitcoin exchange BitFloor halts operations, shuts down~~]</ref>.		On April 17, 2013 the exchange halted operations after its bank announced it would close its account. While no official reason for the closure has been communicated, it has been hypothesized that the likely cause was the nature of the transactions (relatively large amounts going in and out rapidly), which triggered an elevated risk profile, rather than money laundering suspicions.<ref>[https://bitcointalk.org/index.php?topic=179135.msg1869466#msg1869466 Bitcointalk.org thread on possible reasons for closure]</ref>

	==See Also==		==See Also==

Sgornick: Update to reflect shut-down.

2013-04-18T06:54:48Z

Update to reflect shut-down.

@@ Line 1: / Line 1: @@
-'''Bitfloor''' is a FinCEN-registered Bitcoin [[currency exchange]] and trading platform site headquartered in the state of New York, USA.
+'''Bitfloor''', formerly a Bitcoin [[currency exchange]] and trading platform site.
 ==History==
@@ Line 46: / Line 11: @@
 BitFloor became a Money Service Business (MSB) registered with FinCEN (#31000005224108) on March 15, 2012.<ref>[http://www.fincen.gov/financial_institutions/msb/msbstateselector.html FinCEN search]</ref>
 ==See Also==
@@ Line 60: / Line 27: @@
 ==References==
 <References />