Bitfloor

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.Bitcoin exchange BitFloor suspends operations after $250,000 theft On April 17, 2013 the exchange halted operations after its bank would reportedly close Bitfloor's bank account.Bitcoin exchange BitFloor halts operations, shuts down
==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.Bitfloor privacy
BTC deposits and withdrawals could be made at no fee. Large withdrawals were processed manually, due to Bitfloor storing most bitcoins in offline cold wallets.
==Trading==
Trades could be done via a web interface, or by using the REST API or FIX (Financial Information eXchange) order entry gateway.FIX gateway available on bitfloor.com.
===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==
The exchange had been operating since 2011 with its first publicity occurring in February 2012The Bitcoin Show - 056 - Roman Shtylman of Bitfloor.com.
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.It's been 3 months since the first BTC re-payment in early December.
On April 3, 2012, the website was down for several minutes.bitfloor down?!
BitFloor became a Money Service Business (MSB) registered with FinCEN (#31000005224108) on March 15, 2012.FinCEN search
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.Bitcointalk.org thread on possible reasons for closure
==See Also==
* Buying bitcoins
* Selling bitcoins
==External Links==
* BitFloor website
* github page
* Chart
==References==