Hacked Exchanges since 2011

[Kemarit]

Definitely, it can grow even more in the next coming years. Those exchanges really need to understand that hackers are like always one step of the game. So exchanges really need to tighten up otherwise every hackers will find some exploit and then BOOM, traders money is gone in an instant. Although it's good to know that hackers do lost the game last year as well. 

https://www.ccn.com/binance-reverses-hacker-trades/

[1715393283]

1715393283

[1715393283]

1715393283

[seoincorporation]

You should add to the list the 26,000 btc seized by the FBI to skillroad. I know wasn't a hack and wasn't an exchanger, but at the end looks like the same, 

By the way, thanks to adding the amount in btc, now the list looks awesome, and as i told you in the Spanish thread, Mt.Gox is in the first place, we have a winner!

[Last of the V8s]

Has Coinbase seriously never been hacked?
Seems legit

[gentlemand]

Has Coinbase seriously never been hacked?
Seems legit

Never ever.

I wonder how it would be received if they were. I can't imagine their big willy investors would be too impressed if it ever did happen let alone their 'institutional' customers.

Xapo will be a another who've never been touched and their punters would be even less impressed considering being secure is all they probably do these days.

[Last of the V8s]

... that we know about

[kenzawak]

https://www.coindesk.com/2018-a-record-breaking-year-for-crypto-exchange-hacks

[bitserve]

Nice thread VB1001.

It will be very interesting to know more about those hacks coming from users directly or indirectly affected.

While not exactly a hack... I got affected by the MtGOX one. I say it was not exactly a hack because it was a combination of negligence and several different incidents along many years, being negligence probably the main factor.

Five years later, I am waiting to recover some from the civil rehabilitation. It is estimated that it will be around 20-25% of my bitcoins.

The reasons I considered it was worth the risk to use Mtgox are the following:

- I was a very high frequency day trader at that time that took advantage of the violent volatility of that times and the delay (a few seconds) in the "propagation" between different exchanges.

- I had almost all of my BTC on exchanges because I was trading with it all. Didn't really had that much anyways.

- I considered having it all on a single exchange was too high of a risk (true) so instead of having it all on Bitstamp I had an almost equal amount on Mtgox too.

- I was of the idea that if something happened to Mtgox (being more or less the main exchange) Bitcoin would be so severely impacted that the less of the problem would be to lose my Bitcoins there. While that made some sense I probably overestimated the impact or underestimated the bitcoin capacity to recover from it.

So it is not that I didn't knew the risks... It's just that I considered at the time that it was a reasonable risk to assume.

When the exchange went belly up (but trading kept running with prices going really low) I even did a final bet and sent a deposit of fiat.

The "bet" was that if I could buy there at those extremely low prices it would compensate the possible loss and otherwise I could probably recover that fiat because it would be a fraud to touch it if the exchange was already bankrupt.

It seemed to me it was a reasonable asymmetrical bet to do.

The problem is that it was just a couple of days before MtGOX stopped trading altogether so my transfer was never reflected in my balance.

I could never rescue the transfer. I didn't even claim it from the bankruptcy trustee because I thought, not being reflected in the balance, it could lower the chance of my main claim (the bitcoins) to be approved.

It's a pity because in the end I could have probably recovered the full fiat amount plus interests.

Now I think I maybe should have claimed it... but probably it wouldn't have been approved anyways... So it is not a big regret.

The claim over my BTC balance was approved.

Anyone in the same situation claimed those last minute fiat deposits not reflected in the balance? Was your claim approved or rejected? Would like to know.

Nowadays my trading activity has been greatly reduced and I only have around 10% of my total stash in exchanges. All the rest is in a combination of hardware wallets.

[gentlemand]

Anyone in the same situation claimed those last minute fiat deposits not reflected in the balance? Was your claim approved or rejected? Would like to know.

Hey, at least you're not this guy - https://bitcointalk.org/index.php?topic=178336.msg5264331#msg5264331

There's risk, and then there's... I'm not totally sure if there's a word for this particular example.

I remember the brewing disbelief at the time and more than a few people claiming it was 'too big to fail'. If only.

[bitserve]

Anyone in the same situation claimed those last minute fiat deposits not reflected in the balance? Was your claim approved or rejected? Would like to know.

Hey, at least you're not this guy - https://bitcointalk.org/index.php?topic=178336.msg5264331#msg5264331

There's risk, and then there's... I'm not totally sure if there's a word for this particular example.

I remember the brewing disbelief at the time and more than a few people claiming it was 'too big to fail'. If only.

Yeah, I had heard about TheKoziTwo doing that lol

No, IIRC in the end I only sent like $800 (which could have bought me another 5 or 6 BTC). Considered sending (not much) more but finally decided to go for an amount I could perfectly (a bit annoying as each and every lost) see gone. I saw an "opportunity" and tried to catch it.

Who knows maybe for the TheKoziTwo that amount was the equivalent of the $800 for me.

I still think it was a reasonable bet to make with the information I had at that moment. Sometimes you win, sometimes you lose.


P.S.: Did TheKoziTwo had his claim approved? Considering the amount I am sure he at least claimed and fight for it to be recognised.

P.S.2: I see it was an OkPay transfer so maybe:

- He could claim it to OkPay.
- or it was reflected in MtGox balance, in which case he will probably recover the full ammount plus a nice yearly 6% interest (over five fucking years!)
- or maybe he even had time to buy BTC at those lower prices and even at 20-25% he made a good chunk.

So maybe in this case "being that guy" is not that bad in the end

[Majormax]

It would be interesting to see a division into the types of events which accompanied these 'hacks', and whether or not the exchanges survived, or the customers ever recovered their money.

I have lost amounts in Cryptsy, Cryptorush, Mintpal (and a few others) each of which were a total write off. From some others I managed to extract most of my funds but had to trade between coins to get withdrawals through. Trading between coins is not my aim as I was simply investing and holding. I ended up with a lot more alts, which I didn't bother to exchange back to BTC.

Bitcoinica and Poloniex refunded all clients.

I think there a quite a few to add the the op list.

One great inconvenience for traders is not being able to access any records from the lost exchanges.

[gentlemand]

P.S.: Did TheKoziTwo had his claim approved? Considering the amount I am sure he at least claimed and fight for it to be recognised.

I mentioned it to him this year - https://bitcointalk.org/index.php?topic=2181023.msg43107586#msg43107586

Not totally sure what his answer consisted of but he seemed sanguine enough. Indeed he was considering doing something similar with Wex. Everyone has differing appetites for masochism I suppose.

[bitserve]

Hey Majormax, it seems that you have HUGE direct/personal experience with this subject. Maybe you could consider sharing it in a series of posts (over the time) about each one of them?

It would be *VERY* interesting for sure.

[Majormax]

Hey Majormax, it seems that you have HUGE direct/personal experience with this subject. Maybe you could consider sharing it in a series of posts (over the time) about each one of them?

It would be *VERY* interesting for sure.

I can say that it is just as well there is a lack of records in closed exchanges. It is uncomfortable to look back on the losses, especially what they could be worth now !  

I will try and put some info together from memory.

[VB1001]

Yes, talking about this situation in public is hard and I understand that in some cases it is difficult to comment on your experience, but if you decide to publish it, it is very useful for everyone.

This thread is for us to react for our safety.

Thanks to all for collaborating.

[kenzawak]

How Hackers Stole $1B From Cryptocurrency Exchanges In 2018

https://www.forbes.com/sites/daveywinder/2018/12/31/how-hackers-stole-1b-from-cryptocurrency-exchanges-in-2018/

[VB1001]

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I will update the list and attach more data.
The process is to find the correct information, web, forums, social media, check it and verify it.
It's true not all exchanges hacked, but all the information of dates, years, amount stolen and currency type of a pirated exchange have differences, in some web pages there is a quantity and in another the data are different.
The interesting thing is to have quantities and dates of stolen BTCs sufficiently contrasted, to offer real information.

[milewilda]

Has Coinbase seriously never been hacked?
Seems legit

Never ever.

I wonder how it would be received if they were. I can't imagine their big willy investors would be too impressed if it ever did happen let alone their 'institutional' customers.

Xapo will be a another who've never been touched and their punters would be even less impressed considering being secure is all they probably do these days.

I wont even believe that theres someone who do have the balls who would tend to mess up with Coinbase. For sure hackers do already know on who are the ones who heavily
invested or used them. lol

[wuvdoll]

Jesus christ according to the infographic shared on coindesk it shows 1.5 billion dollars lost so far! That is 1.5 BILLION DOLLARS.

Exchanges really need to up their security measures by a whole lot but the problem with hackers is that no matter what you do to prevent they will find a new way, if you defend that they will move onto a new way, they will not stop inventing a new way to hack into the exchanges even though exchanges cover all possible corners.

865 million of that (more than half) was in 2018, we saw how much increase there was in interest to crypto in 2017 which lead to a lot more new exchanges and some of that started out very quickly to gather the money from the hype and didn't finish the website with quality so they got hacked. Its really a shame all that money went to hackers instead of people who really needed it.

[automaticmoney]

Look like Binance is the safest exchange which is unhacked till date but the threat of hacking possess for all the exchanges Bittrex and Binance are safe with no hack threats

[gentlemand]

Look like Binance is the safest exchange which is unhacked till date but the threat of hacking possess for all the exchanges Bittrex and Binance are safe with no hack threats

Binance is less than two years old. People know effectively nothing about how it's run or its procedures. Just because it's big, does not make it 'good' or trustworthy. Act accordingly.