BitStamp was once one of the largest bitcoin exchanges, serving as a strong competitor to MtGox. It charged transaction fees of 0.20%-0.50%, which were lower than other platforms in the USD/Bitcoin market. BitStamp was founded by Nejc Kodric in August 2011, alongside Damian Merlak. In October 2013, Bitstamp received a $10 million investment from Pantera Capital Management. In January 2015, BitStamp was unfortunately targeted by hackers, resulting in the theft of $5.1 million worth of Bitcoin, leading to the platforms temporary closure. Soon after, BitStamp rebounded and has since resumed normal operations.