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Theft of Bitcoins: TOP-50 largest thefts on the exchanges [2011-2020] Part 2

By Artur89 | Arthur Crypto 2020 | 16 Jun 2020


11. Instawallet

Date Hacked: April 3, 2013
Stolen Amount: 35,000 BTC

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On April 3, 2013, Instawallet, a web wallet provider, was hacked, leading to the theft of more than 35,000 bitcoins, which were valued at $ 129.90 per bitcoin at that time, or nearly $ 4.6 million in total. As a result, Instawallet suspended its activities.

12. Vircurex

Hack date: October 2013
Stolen Amount: 1454 BTC

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In 2014, the exchange declared bankruptcy after losing significant reserve funds. Part of the loss came from "two alleged hacks that occurred in mid-2013."

As a result, Vircurex froze the withdrawal of BTC, LTC, FTC and TRC. At that time, the company announced that it would start paying users using its profits. The exchange returned a small amount of cryptocurrency to several of its customers, but most of the funds owed remained on the exchange

13. Silk Road (Marketplace)

Hack date: October 2013
Stolen Amount: ~ 1,606 BTC
Silk Road, located on the Tor network, can be called an alternative to eBay or Amazon, but also for the sale of illegal goods such as heroin, weapons, pornography, etc. All payment transactions were made at BTC, and Silk Road was the intermediary connecting users and charging fees for their illegal transactions. Over the two years of the market’s existence, the total volume of transactions amounted to 9.5 million BTC.

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Soon, the FBI became interested in the Silk Road. In 2015, company founder Ulim Ross Ulbricht was sentenced to life imprisonment for many crimes, including hacker attacks and a money laundering conspiracy.

The story does not end there, since the intelligence agent himself, who was conducting the case, eventually stole the "dirty" BTC.

14. Inputs.io

Hack date: October 2013
Stolen Amount: 4100 BTC

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In October 2013, Inputs.io, an Australian bitcoin wallet provider, was hacked and stolen 4,100 bitcoins worth more than $ 1 million at the time of the theft. The service was launched by the TradeFortress operator. Coinchat associated with this bitcoin chat has been hijacked by a new administrator.

15. Global bond limited

Hack date: October 26, 2013
Stolen Amount: 5,000,000 USD

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On October 26, 2013, Hong Kong's Bitcoin trading platform owned by Global Bond Limited (GBL) lost 30 million yuan ($ 5 million) from 500 investors.

16. Bitcash

Hack date: November 2013
Stolen Amount: 484 BTC
On November 11, the Czech cryptocurrency exchange suffered a hacker attack that devastated the wallets of 4,000 users.

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Website servers were hacked to conduct phishing attacks using fraudulent emails on behalf of BitCash to trick users. The emails claimed that BitCash resorted to a US recovery company to recover the BTC that had been stolen.

Recipients were asked to send 2 BTC to the wallet address to return their BTC. However, the BTC address indicated in the text of the email was not used by the exchange and did not conduct transactions.

17. The final fall of Mt. Gox

Date Hacked: February 2014
Stolen Amount: 390,000,000 USD
Mt. Gox, the Japanese exchange that handled 70% of all global bitcoin traffic in 2013, filed for bankruptcy in February 2014, when for unclear reasons, $ 390 million worth of bitcoins went missing.

For 2 years (2012–2013), a hacker emptied his wallets, but Mt. Gox interpreted the costs as deposits, crediting some users with up to 40,000 extra BTC.

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The CEO was eventually arrested and charged with embezzlement.

18. Flexcoin

Date Hacked: March 3, 2014
Stolen Amount: 600,000 USD

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On March 3, 2014, Flexcoin announced that it was closing its doors due to a hacker attack that occurred the day before. In a statement that now occupies their homepage, they announced on March 3, 2014 that:

“Since Flexcoin has no resources, assets or cannot otherwise return to deal with the hack, we immediately close our doors. Users can no longer access the site. ”

19. Poloniex

Date Hacked: March 4, 2014
Stolen Amount: 12.3% of all BTC (97 BTC)

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Hackers were able to use the faulty Poloniex withdrawal code.

Shortly after the hack, Poloniex suspended its activities for some time and announced at the forum that the funds of all Poloniex holders would be reduced by 12.3%. This was done because many users would simply withdraw their funds.

20. Mintpal

Date Hacking: Fall 2014
Stolen Amount: 3894 BTC

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MintPal was considered one of the best trading platforms until management changed in the fall of 2014. The company was sold to Moopay CEO Ryan Kennedy, known under the pseudonym Alex Green.

During internal work, he stole 3894 BTC and went bankrupt. It is noteworthy that a few months after the withdrawal of funds, Kennedy was sentenced to 11 years in prison for rape, and the sentence did not contain a clause about the theft of $ 1.5 million in BTC.

Part 1 - https://www.publish0x.com/arthur-crypto-2020/theft-of-bitcoins-top-50-largest-thefts-on-the-exchanges-201-xzygyyq

 

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