Bitfloor, a fast-growing Bitcoin exchange that was felled by a security breach earlier this month, has resumed operations. Founder Roman Shtylman announced the site's revival on Google Plus.

The exchange lost Bitcoins valued at about $250,000 in the heist. As a result, Bitfloor was incapable of repaying clients who had deposited Bitcoins, forcing the site to suspend operations. Bitfloor still lacks the funds to repay those users, so it has officially designated those funds as "on hold."

"Your balance as of the theft will remain on hold and be released in parts as we begin to recover funds to pay back balances," the post says. "As funds are available for repayment, they will be dispersed on a pro-rated basis."

In an interview with IDG, Shtylman said he has reported the theft to the FBI, and that he was determined to earn enough profits to make his long-suffering customers whole.

To ensure that client funds are not lost again, Bitfloor has committed to keeping client Bitcoins in "cold storage," meaning on computers or media not directly connected to the Internet. Day-to-day trading will be performed using a "hot wallet" containing Bitfloor's own funds. Shtylman says this guarantees that even if the site were hacked again, no more client funds would be lost.

Some Bitfloor users whose funds were lost have tried to cash out by selling their frozen assets at a discount. One user reportedly succeeded in selling 200 frozen Bitcoins (approximately $2450) for 70 percent of their face value.

The value of Bitcoins is volatile, but it has been trending upwards in recent months, rising from about $5 in June to more than $12 today.

Disclosure: The author owns some Bitcoins.