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Author Topic: List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old]  (Read 294354 times)
dree12
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May 26, 2012, 08:39:04 PM
Last edit: January 08, 2015, 08:42:36 PM by dree12
Merited by QuestionAuthority (20), malevolent (1), apoorvlathey (1)
 #1


Dear reader,

This thread has been superseded by a newer thread due to character size restrictions. A copy is left here for archival purposes; however, this copy is significantly out-of-date.

List of Bitcoin Heists
Following is the result of research on prior Bitcoin-related thefts. I have provided dates and times as I know them. The list is designed to be as accurate and informative as possible, and most of it is well-referenced. For disputed thefts, I have applied best judgement and included the ones that were most publicly accepted.

Because of the volatile nature of Bitcoin's exchange price, I have denominated heist estimates in BTC. Although not heists per se, major permanent bitcoin-denominated losses are also included in this list. If I missed any major thefts, heists, or losses, or if you have any other information to contribute to one of these events, please leave a reply in this thread.

Additionally, I would be grateful if contributors write commentary for each theft. Ideally, the theft descriptions should be as detailed as possible. Much of the present commentary is inadequate.

Table of Contents

Licence
This entire document is licenced under the public domain. If that is not permissible in your jurisdiction, it can then be licenced under any permissible licence of your choosing.

The author of this list believes all information contained thereof to be factual; however, the author takes no responsibility for any losses associated with factual inaccuracies in the list.

Factual inaccuracies
Although I make every attempt to ensure information in the list is well-cited and factual, there is always the possibility of error (whether on my part or on my source's part). If you find a factual inaccuracy, please report it. You will be credited appropriately for such reports.

Donation
Donations are appreciated and are accepted at 1MLSW1nmYkHqaHWNNkHSAHct6exd8fYYLX. Alternatively, consider a donation to a charitable cause. Many victims of these thefts accept donations, and they likely need the donations more than I.

Qualification
Without properly-defined bounds, this list could not possibly be complete. Consequently, several clauses below limit the scope of the list.

General
Generally, a major heist, theft, hack, scam, or loss must cause damage greater than or equal to 1000 BTC, in BTC damage only, to qualify for inclusion in this list. Thefts related to Bitcoin but with most damage in another currency do not qualify, unless customers were damaged in BTC. Borderline thefts may qualify if reasonable estimates are over or equal to 1000 BTC. Thefts that do not strictly qualify but are of significant importance are listed in the thefts not included section.

Managing Bitcoin prices
It is well-known that Bitcoin prices are volatile. Before 2011, the value of a single BTC was extremely low. Consequently, this list ignores most events that occurred before 2011. If a theft, hack, scam, or loss caused damage greater than or equal to 5000 BTC before 2011 (i.e., in 2009 or 2010), it is not listed on the severity charts. If a theft, hack, scam, or loss caused damage less than 5000 BTC before 2011, it is not listed on this list at all.

This list also employs USD cutoff values. Thefts with USD damages below the given cutoff for the year will still be included, but will be excluded from or unranked in severity lists.

Cutoff values so far are below:
YearCutoff ValueSeverity list cutoff
20095000 BTC*N/A
20105000 BTC*N/A
20111000 BTC12000 $
20121000 BTC12000 $
20131000 BTC12000 $
* These thefts are not listed in the BTC-denominated severity chart.

Included borderline thefts
Finally, another clause is provided to allow important thefts not meeting the cutoff to remain included. Borderline thefts, which have less than 1000 BTC in total damages, may still be included if their total damage when measured in June 2013 BTC exceeds 500 BTC. This measurement is based on Mt. Gox price data prior to 2013-06-09, Bitstamp price data after 2013-06-10, and US CPI data published by the United States Bureau of Labor Statistics.

Instructions
For ease of navigation, I have assigned each theft a name. Note that this name is neither official nor permanent and is used solely for ease of navigation. To search for the heading that details the actual theft, simply use your browser's Find function and search for the name. This will either bring you to the theft itself, or a link to the theft. If the latter, simply click the link to be directed to the theft.

Some links will appear in commentary and in lists. These can be clicked; their destination is set to the beginning of the linked incident's section.

List of events by severity

Dear reader,

This thread has been superseded by a newer thread due to character size restrictions. A copy is left here for archival purposes; however, this copy is significantly out-of-date.

NB: This section is under construction.
In this section, each theft is listed alongside the value stolen when converted to a June 2013 BTC equivalent. This represents the true value stolen and is generally the best list in that regard. No incidents need be left out of this list, thanks to its method of ranking based on true severity.

List of events by BTC value stolen
In this section, each theft is listed along with its rank, severity, and time, ordered by the highest mBTC value stolen from most severe to least. To navigate to a theft, simply click on the link.

Critical (≥10 kBTC)
RankNameTimeSeverity
1Bitcoin Savings and Trust2011–2012est. 263024 BTC
2Silk Road SeizureOctober 2013171955.09292687BTC
3MyBitcoin TheftJuly 201178739.58205388BTC
4Linode HacksMarch 2012l.b. 46653.46630495BTC
5July 2012 Bitcoinica TheftJuly 201240000.00000000BTC
6*May 2012 Bitcoinica HackMay 2012
Unresolved as of December 2012
18547.66867623BTC
39000 BTC total impact
7Allinvain TheftJune 201125000.01000000BTC
8Tony Silk Road ScamApril 2012est. 30000 BTC
9Bitfloor TheftSeptember 2012u.b. 24086.17219307BTC
10Bitomat.pl LossAugust 2011est. 17000 BTC
11Bitcoin7 HackOctober 2011est. 11000 BTC u.b. 15000 BTC
* Rank includes pass-through impact

Major (≥1 kBTC)
RankNameTimeSeverity
12Cdecker TheftSeptember 20129222.21195900BTC
13Stefan Thomas LossJune 2011est. 7000 BTC
14BTC-E HackJuly 2012est. 4500 BTC
15Inputs.io HackOctober 2013est. 4100 BTC
16Mass MyBitcoin TheftsJune 20114019.42939378BTC
17Mooncoin TheftSeptember 2011est. 4000 BTC
18Kronos HackUnknownest. 4000 BTC
19Bitcoin Rain2011–2013est. 4000 BTC
202012 TrojanSeptember through November 20123500 BTC a. 3457 BTC
21Betcoin TheftApril 20123171.50195016BTC
22June 2011 Mt. Gox IncidentJune 2011l.b. 2643.27BTC
*October 2011 Mt. Gox LossOctober 20112609.36304319BTC
*Andrew Nollan ScamFebruary 2012l.b. 2211.07786728BTC
23Bit LC TheftFebruary 2013est. 2000 BTC
24Bitcoin Syndicate TheftJuly 20121852.61553553BTC
25ZigGap2012a. 1708.65967460BTC
26Just Dice IncidentJuly 2013a. 1300 BTC
27BTCGuild IncidentMarch 2013a. 1254 BTC
282012 50BTC TheftOctober 20121173.51659074BTC
*Ubitex Scam2011a. 1138.98BTC
*Bitscalper Scam2012est. 1000 BTC
* Unranked because USD value at time does not meet cutoff.

Borderline (<1 kBTC)
RankNameTimeSeverity
292013 ForkMarch 2013960.09645667BTC
30Ozcoin TheftApril 2013922.99063322BTC

List of events by USD equivalent of mBTC at time of theft
NB: This section is outdated.
This section houses a list of thefts, from most severe to least, by the USD equivalent of mBTC at that time. Note that USD values stolen, if any, are not included, only the mBTC value.
1. Bitcoin Savings & Trust (1834303 $)
2. MyBitcoin Theft (1110544 $)
3. Allinvain Theft (502750.20 $)
4. July 2012 Bitcoinica Theft (305200 $)
5. Bitfloor Theft (248088 $)
6. Linode Hacks (230468 $)
7. Bitomat.pl Loss (236000 $)
8. Tony Silk Road Scam (150000 $)
9. Stefan Thomas Loss (128000 $)
10. Just-Dice.com Incident (121000 $)
11. Cdecker Theft (113894 $)
12. May 2012 Bitcoinica Hack (91306.46 $)
13. XBTGuild Incident (58737 $)
14. Bit LC Theft (51000 $)
15. Bitcoin7 Hack (50000 $)
16. June 2011 Mt. Gox Incident (46970.91 $)
17. BTC-E Hack (42000 $)
18. 2012 Trojan (38000 $)
19. Mooncoin Theft (24000 $)
20. Betcoin Theft (15509 $)
21. Bitcoin Syndicate Theft (12134.61 $)
U. Ubitex Scam (11668.70 $)
U. Andrew Nollan Scam (10978 $)
U. October 2011 Mt. Gox Loss (8115.12 $)
U. Bitscalper Scam (5000 $)
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Last edit: May 11, 2014, 05:24:13 AM by dree12
 #2

List of events in rough chronological order

Dear reader,

This thread has been superseded by a newer thread due to character size restrictions. A copy is left here for archival purposes; however, this copy is significantly out-of-date.

Stone Man Loss
Type: Loss
Time: August 09, 2010, 11:35:00 PM ± 600 s
Victim: Stone Man @BitcoinTalk
Status: Coins lost, effectively destroyed
Amount: Exactly 8999.00000000BTC
Equivalent in June 2013 BTC: 5.73BTC
Transaction of interest: eb5b761c7380ed4c6adf688f9e5ab94953dcabeda47d9eeabd77261902fccccf
Due to not keeping proper wallet backups, 8999 BTC sent as change were effectively destroyed when the private key controlling them was lost. Because this theft is from 2010, it is not included in severity lists.

Ubitex Scam
Time: April 2011 to July 2011
Victim: Investors on GLBSE of Ubitex
Status: Ubitex founder known, but nothing returned
Amount: About 1138.98BTC (amount “invested” into Ubitex)
Equivalent USD: 11668.70 $ (wt. avg)
Equivalent in June 2013 BTC: 155 BTC
Ubitex was the first company to be listed on the now-defunct GLBSE “stock exchange”, which has been criticised for its illegal operations.[1] The company was run by a minor, but this fact was not initially known.

Around 1000 BTC of the missing investments are said to have been “spent”, many of which were further scammed, or converted into USD without follow-up.

The Ubitex scam would not have been possible today. Bitcoin users at the time were enjoying their newly-acquired wealth thanks to significant appreciation. Most “investors” at the time were extremely naïve.


Stefan Thomas Loss
Type: Loss
Time: June 2011
Victim: Stefan Thomas
Status: Coins destroyed (no thief)
Amount: Estimate 7000 BTC[2]
Equivalent USD: 128000 $ (wt. avg, rounded to nearest thousand)
Equivalent in June 2013 BTC: 1250 BTC
Stefan Thomas, an early adopter (and eventually developer) of Bitcoin, uses this loss to teach other Bitcoiners the importance of backups—many of them. He had three copies of his wallet, and yet lost all of them.

Allinvain Theft
Time: June 13, 2011, 05:52:00 PM ± 600 s [satoshi estimated block transmission time]
Victim: Bitcointalk.org user “allinvain”
Status: Thief uncaught
Amount: Exactly 25000.01000000BTC[3]
Equivalent USD: 502750.20 $
Equivalent in June 2013 BTC: 4480 BTC
Chief transaction of interest: 4885ddf124a0f97b5a3775a12de0274d342d12842ebe59520359f976721ac8c3
A polarizing theft, its authenticity has undergone much dispute. Some believe that it was set up as a ploy for donations. However, these critics often lack evidence to back up their claims. Indeed, the victim was an early adopter who mined many coins at a low cost, so there is little reason for him to sabotage Bitcoin's image.

Although the hack attracted great attention in its day, said fame has mostly subsided. Even today, however, the hack still affects Bitcoiners. A common debate among Bitcoin users is that of “tainting” coins, and this hack is often used as an example for why “tainting” coins is futile. In just a few years, coins stolen in this hack are now present in nearly every user's wallet. This rapid redistribution is often cited as a reason that a tainted coin system would certainly fail.


June 2011 Mt. Gox Incident
Time: June 19, 2011, 06:00:00 PM ± 1 h (theft), days ensuing (hacks & withdrawals)
Victim: Mt. Gox (some claim also customers)
Status: Thief uncaught
Amount:
Stolen by thief: 2000 BTC[4]
Additional withdrawn from Mt. Gox: 643.27BTC[5] (lower bound)
Total: Lower bound 2643.27BTC
Equivalent USD: 46970.91 $ (trades on Mt. Gox not reliable at the time)
Equivalent in June 2013 BTC: 473 BTC
Transactions: none released officially
Mt. Gox, then the leading BTC/USD exchange service, suffered a severe breach as a consequence of an ownership change. The sale conditions involved a share of revenue to be remitted to the seller. To audit this revenue, the seller was permitted an account with administrator access.[4]

The seller's administrator account was hacked by an unknown process. The priveleges were then abused to generate humungous quantities of BTC. None of the BTC, however, was backed by Mt. Gox. The attackers sold the BTC generated, driving Mt. Gox BTC prices down to cents. They then purchased the cheap BTC with their own accounts and withdrew the money. Some additional money was stolen by non-attacking traders capitalizing on the dropping price and withdrawing in time, including toasty, a member of BitcoinTalk.

Mt. Gox resolved the hack by reverting trades to a previous version. Many customers claim they have lost money from this reversion, but Mt. Gox claims it has reimbursed all customers fully for this theft. After the incident, Mt. Gox shut down for several days.[6]

The event's scale was widely disputed; some report a theft of almost 500000 BTC due to related account hacking. However, these reports are sparse and disreputable. Closer inspection puts the losses at closer to 2500 BTC.

Aside from the direct damages of the theft, the hack involved a database leak. Some weaker passwords were used to conduct the relatively more severe Mass MyBitcoin Thefts.


Mass MyBitcoin Thefts
NB: Not to be confused with the far more severe MyBitcoin Theft.
Time: 2011-06-20 through 2011-06-21
Victim: MyBitcoin users with weak account passwords
Amount: Exactly 4019.42939378BTC
Equivalent in June 2013 BTC: 712 BTC
Transactions: all to 1MAazCWMydsQB5ynYXqSGQDjNQMN3HFmEu[7]
Users with weak passwords on MyBitcoin who used the same password on Mt. Gox were in for a surprise after the June 2011 Mt. Gox Incident allowed weakly-salted hashes of all Mt. Gox user passwords to be leaked. These passwords were then hacked on MyBitcoin and a significant amount of money lost.[8]

MyBitcoin estimates indicate 1% of MyBitcoin users were affected.[8] Users that were not affected would be later stolen from anyways, due to the subsequent MyBitcoin Theft.


MyBitcoin Theft
Time: Unknown time in July 2011 (claimed it was a process)
Victim: MyBitcoin & customers
Status: Thief unknown, planned shutdown suspected (disputed theft)
Suspects: “Tom Williams”, likely pseudonym (founder of MyBitcoin)
Amount: Exactly 78739.58205388BTC
Equivalent USD: 1110544 $ (wt. avg, definitely >$1M, rounded to nearest $)
Equivalent in June 2013 BTC: 10600 BTC
Transaction information: none
Little information was released about the MyBitcoin theft, however, many argue that Tom Williams ran it as a scam (and was not a theft per se). In terms of both dollars and bitcoins, this was by far the largest theft, however, it is possible it was simply a scam. Although MyBitcoin offered to release its code as a gift to the community, it failed to follow through on that promise. In the months ensuing, some evidence has been uncovered supporting mortgage broker Bruce Wagner; however, any evidence is inconclusive.

The theft resulted in the closure of MyBitcoin, which was once a successful Bitcoin company in Bitcoin's early days.


Bitomat.pl Loss
Type: Loss
Time: 2011-07-26
Victim: Bitomat.pl
Status: Coins destroyed (no thief)
Amount: Estimate 17000 BTC (likely estimate/lower bound, no tx due to technical reason)
Equivalent USD: 236000 $ (rounded to nearest thousand)
Equivalent in June 2013 BTC: 2290 BTC
Bitomat.pl, during a server restart, had its remote Amazon service that housed the wallet wiped. No backups were kept. Mt. Gox later bailed bitomat.pl out, and neither customers nor original owners suffered any loss from the incident.

Mooncoin Theft
Time: 2011-09-11
Victim: Mr. Moon, Mooncoin, & Customers
Status: Unknown (Federal intervention suspected)
Amount: Estimate 4000 BTC (conservative estimate based on SC values)
Equivalent USD: 24000 $ (rounded to nearest thousand)
Equivalent in June 2013 BTC: 219 BTC
Transactions: numerous
Moonco.in's hack has been compared to the MyBitcoin of SolidCoin, back when it remained a powerful cryptocurrency. Over 800000 SC have been removed from circulation, only to have been put back through SolidCoin 2.0. The effects on Bitcoin were also substantial, and the effect on Namecoin was not negligible. In total, this may have been the worst cross-currency hack in cryptocurrency history.

Bitcoin7 Hack
Time: 2011-10-05 (UTC)
Victim: Bitcoin7 & Customers
Status: Hacker unknown (officially from Eastern Europe or Russia), scam suspected, some returned
Amount: Estimate 11000 BTC*
  • Based on size of order books at that time, ~15000.
  • A quarter supposedly not stolen (3 of 4 wallets compromised).
  • Rounded to 11000 BTC
* Bitcoin7 may have disappeared with more (u.b. 15000 BTC).
Equivalent USD: 50000 $ (rounded to nearest ten thousand)
Equivalent in June 2013 BTC: 346 BTC
Bitcoin7 later shut down because of this hack. The magnitude served as a reminder to the Bitcoin community to stop trusting new exchanges without identification.

October 2011 Mt. Gox Loss
Type: Loss
Time: 2011-10-28T21:11 (UTC) [blockchain time, off by up to three hours]
Victim: Mt. Gox
Status: Coins destroyed (no thief)
Amount: Exactly 2609.36304319 BTC
Equivalent USD: 8115.12 $ (wt. avg price)
Equivalent in June 2013 BTC: 82.0BTC
Transactions:
  • 111291fcf8ab84803d42ec59cb4eaceadd661185242a1e8f4b7e49b79ecbe5f3
  • 81f591582b436c5b129f347fe7e681afd6811417973c4a4f83b18e92a9d130fd
  • ddddf9f04b4c1d4e1185cacf5cf302f3d11dee5d74f71721d741fbb507062e9e
  • 305fbc2ec7f7f2bc5a21d2dfb01a5fc52ab5d064a7278e2ecbab0d2a27b8c392
  • f0137a6b31947cf7ab367ae23942a263272c41f36252fcd3460ee8b6e94a84c1
  • 633acf266c913523ab5ed9fcc4632bae18d2a7efc1744fd43dd669e5f2869ce5
  • 5bd88ab32b50e4a691dcfd1fff9396f512e003d7275bb5c1b816ab071beca5ba
  • 64c01fedd5cf6d306ca18d85e842f068e19488126c411741e089be8f4052df09
  • 3be0ac3dc1c3b7fa7fbe34f4678037ed733a14e801abe6d3da42bc643a651401
  • 9edab6e7fadf1d6006315ff9394c08a7bf42e19cf61502200a1f73994f8da94b
  • 835d4dcc52e160c23173658de0b747082f1937d1184e8e1838e9394bc62c0392
  • aebe39a99114f1b46fc5a67289545e54cbfec92d08fc8ffc92dc9df4a15ea05a
  • aa62bdd690de061a6fbbd88420f7a7aa574ba86da4fe82edc27e2263f8743988
  • 6a86e6a5e8d5f9e9492114dafe5056c5618222f5042408ad867d3c1888855a31
  • 7ad47a19b201ce052f98161de1b1457bacaca2e698f542e196d4c7f8f45899ab
  • 0ca7f7299dc8d87c26c82badf9a303049098af050698c694fbec35c4b08fc3df
  • 3ab5f53978850413a273920bfc86f4278d9c418272accddade736990d60bdd53
  • 03acfae47d1e0b7674f1193237099d1553d3d8a93ecc85c18c4bec37544fe386
  • 15ad0894ab42a46eb04108fb8bd66786566a74356d2103f077710733e0516c3a
  • 2d00ef4895f20904d7d4c0bada17a8e9d47d6c049cd2e5002f8914bfa7f1d27b
  • 6d39eeb2ae7f9d42b0569cf1009de4c9f031450873bf2ec84ce795837482e7a6
  • 07d33c8c74e945c50e45d3eaf4add7553534154503a478cf6d48e1c617b3f9f3
  • 6d5088c138e2fbf4ea7a8c2cb1b57a76c4b0a5fab5f4c188696aad807a5ba6d8
Mt. Gox fully reimbursed customers after this incident.

Bitscalper Scam
Time: January 2012 to March/April 2012
Suspects:
  • Alberto Armandi
    • bitdaytrade @BitcoinTalk
    • bitscalper @BitcoinTalk
    • jjfarren @BitcoinTalk
Victim: Users of Bitscalper
Status: MiningBuddy (bitcointalk.org user) attempted to reorganize bitscalper, but failed. No coins have been returned at all.
Amount: Estimate 1000 BTC (official estimate)
Equivalent USD: 5000 $ (wt. avg, rounded to nearest thousand)
Equivalent in June 2013 BTC: 47.9BTC
Bitscalper was founded as an “arbitrage engine”, and users were invited to deposit money. It was promising extremely high and unrealistic returns. As a result, it was suspected of being a scam from the beginning, fears that were compounded due to a shady and anonymous management. After Bitscalper shut down without returning user funds, BitcoinTalk user MiningBuddy attempted to reform Bitscalper using the remnants of the engine. However, no success was found and the coins could not be returned.

Bitcoin Savings and Trust
Time: 2011–2012
Victim: Creditors of First Pirate Savings and Trust, later Bitcoin Savings and Trust
Status: Trendon Shavers (Perpetrator) caught by SEC[9]
Amount: Lower bounds 150649 BTC[9], 193319 BTC[10], 200000 BTC[11]; Estimate 263024 BTC[12]; Upper bound >700467 BTC[13]
Equivalent USD: 1834303 $
Equivalent in June 2013 BTC: 26800 BTC
More information on Trendon Shavers default.

Andrew Nollan Scam
Time: February 2012
Victim: Investors of Shades Minoco, creditors of bitcointalk.org user “shakaru”, investors of BitArb
Status: Andrew Nollan (a.k.a. shakaru[14]) (thief) known but disappeared, repaid some (not included in amount)
Amount: Lower bound 2211.07786728 BTC, possibly more [15]
Equivalent USD: 10978 $ (wt. avg price, rounded to nearest $)
Equivalent in June 2013 BTC: 106 BTC

Linode Hacks

Dear reader,

This thread has been superseded by a newer thread due to character size restrictions. A copy is left here for archival purposes; however, this copy is significantly out-of-date.

Time: Late 2012-03-01, Early 2012-03-02
Victim: Bitcoinica, Bitcoin.cz mining pool (Marek Palatinus), Bitcoin Faucet, possible others
Status: Thief unknown, not caught. Linode employee suspected.
Amount:
  • Bitcoinica: 43554.02005417BTC[16]
  • Bitcoin.cx: 3094.45825078BTC[17]
  • Bitcoin faucet[18]: 4.98800000BTC[19]
Total: About 46653.46630495BTC
Equivalent USD: 230468 $ (rounded to nearest $)
Equivalent in June 2013 BTC: 2140 BTC
Transactions of interest:
  • 5a09f4ef0e91bc7bc044365cd27236fe4ac3c02088ac21ab51c93c8a11d33d4b
  • 7b45c1742ca9f544cccd92d319ef8a5e19b7dcb8742990724c6a9c2f569ae732
  • 901dbcef30a541b8b55fae8f7ad9917ef0754bda5b643705f3773e590785c4d3
  • a57132e2cbc580ac262aa3f7bac1e441d6573f9633118bc48009618585a0967e
  • a82ad85286c68f37a2feda1f5e8a4efa9db1e642b4ef53cb9fd86170169e5e68
  • ff04763e3e8c93e43799dbbca833e183faad7e2611f20f136f47c2f1049481ae
  • 0268b7285b95444808753969099f7ae43fb4193d442e3e0deebb10e2bb1764d0
  • 34b84108a142ad7b6c36f0f3549a3e83dcdbb60e0ba0df96cd48f852da0b1acb
  • 14350f6f2bda8f4220f5b5e11022ab126a4b178e5c4fca38c6e0deb242c40c5f[18]
In early March 2012, the New Jersey-based web and cloud hosting company Linode was suspected of robbing many popular Bitcoin services. A vulnerability in the customer support system was used to obtain administrator access to the servers. Once the Linode servers were compromised, eight accounts dealing with bitcoins were targeted.[20] The hardest hit was the bitcoin trading platform, Bitcoinica. This resulted in the unauthorized transfer of BTC from the “hot wallets”, a term used to describe operational withdrawal wallets, of the services affected. A severe bitcoin-denominated theft, the Linode theft also affected Tradehill, but no coins were stolen from them; instead, Tradehill had a short downtime because of the incident. In the aftermath of this theft, all the services migrated to other platforms. To this day, Bitcoin users fear Linode and usually refrain from using its services.

Betcoin Theft
Time:
EventTime
Theft Commences
Transaction: #1, #2
2012-04-11T10:55:54
Theft Continues
Transaction: #3
2012-04-11T12:15:49
Theft Culminates
Transaction: #4
2012-04-11T12:43:14
All times are blockchain time, and have possible error of up to 3 hours.
Victims: Betco.in, creditors
Status: Hacker not known. Some of creditors' deposits were repaid, around 2900 BTC outstanding.[21]
Amount: Exactly 3171.50195016BTC[22]
Equivalent USD: 15509 $ (rounded to nearest $)
Equivalent in June 2013 BTC: 148 BTC
Transactions of interest:[23]
  • 266e4682abdf4932c4c271872ca9ba6bfdbe75941eb9ba4c4d81e4d3c7364e4b
  • 40fc8f6b2f222fb2871a38a245132ed1eada9ff6aec8d46ebe74b29c64fd82a7
  • bf70ac1d2b702dbe0e14fbefb3a0cb2ff5ee5aa425cfe4249f16d6ede7b3ff14
  • 92968a2331a02a3128460a64ba16fbf8d3a2fc79ebc8882300015d3ca0e4fb17
Similar to the Mooncoin Theft a year ago, and just as devastating, a gambling website's customers lost a large amount of money. This time, the owner took just as large a hit: all the deposits, plus non-live storage, were stolen. 2900 BTC remains to be refunded to creditors today.[21]

Tony Silk Road Scam
Time: 2012-04-20
Victim: Buyers on Silk Road
Status: Scammer known to be Silk Road user “Tony76”
Amount: Estimate 30000 BTC[24]
Equivalent USD: 150000 $ (wt. avg price, rounded to nearest thousand)
Equivalent in June 2013 BTC: 1400 BTC
Users of Silk Road, an underground drug market using Bitcoin as the default currency, bought significant quantities of illicit drugs from trusted vendor “Tony76”. Although Silk Road has an escrow system, trusted vendors are allowed to bypass the system and request that the buyers pay first. On April 20, which is a popular day for drug sales in American culture, Tony76 offered drugs at a significant discount. However, none of the products made it to the customers, revealing the sale as an elaborate sham.

May 2012 Bitcoinica Hack
Time: May 12, 2012, 11:19:00 AM [blockchain time, off by up to three hours]
Victim: Bitcoinica, LLC
Status:
  • Hacker unknown, minimal coins were returned.
  • Venture capital group Wendon Group threatened legal action against Bitcoinica Consultancy.
  • Receivership in New Zealand ongoing.
Amount:
  • Bitcoinica: Exactly 18547.66867623 BTC
  • Creditors of Bitcoinica: Pending liquidation
    • BitMarket.Eu: About 19980 BTC
Total impact: At least 38527 BTC
Equivalent USD: 91306.46 $ (last Mt. Gox price)
Equivalent in June 2013 BTC: 1830 BTC
Chief transaction of interest: 7a22917744aa9ed740faf3068a2f895424ed816ed1a04012b47df7a493f056e8
Zhou Tong, former founder of Bitcoinica, discovered an entry into Bitcoinica's Rackspace server through an excessively privileged compromised email address. This caused the theft of the entire “hot wallet”, funds stored on-site, as well as the loss of the main database. No backups were kept. Bitcoinica shut down because of this incident. The claims process is still ongoing; however, Bitcoinica is now entering receivership.

On December 21, 2012, it was discovered that BitMarket.eu lost a large portion of customer funds which were stored on Bitcoinica.[25] These customers were reportedly unaware that their funds were stored on Bitcoinica. Return of a portion of these funds is still possible, pending the outcome of liquidation.


Bitcoin Syndicate Theft
Time: July 04, 2012, 02:34:19 PM (Mt. Gox time)
Victims:
  • Bitcoin Syndicate
    • Paul Mumby
    • Shareholders on GLBSE
Suspect: IP 130.83.54.115
Status: Pending
Amount: Exactly 1852.61553553 BTC
Equivalent USD: 12134.61 $
Equivalent in June 2013 BTC: 140 BTC
Medium of theft: Mt. Gox
Transactions of interest: On Mt. Gox. Withdrawal transaction was 4c61d3639f010e30ad305b294cd128f381f58fc161d0badda1f39807dc2f12f7.
A hacker infiltrated the Mt. Gox account used by Bitcoin Syndicate, sold off the USD owned, and withdrew all balances.

July 2012 Bitcoinica Theft
Time: 2012-07-13 (UTC)
Victims:
  • Bitcoinica, LLC
  • Creditors of Bitcoinica (former users of Bitcoinica)
Suspects:
SuspectAccused byDefended byAdditional evidence
Zhou TongAurumXChange
Mt. Gox
Tihan SealeSelling bitcoins after event
Chen JinghaiZhou Tong
Status: All funds returned
Amount: Exactly 40000.00000000 BTC (Mt. Gox Daily Limit)
Equivalent USD: 305200 $ (wt. avg, rounded to nearest $)
Equivalent in June 2013 BTC: 3030 BTC
Medium of theft: On MtGox.
On July 13, 2012, a thief compromised the Bitcoinica Mt. Gox account. The thief made off with around 30% of Bitcoinica's bitcoin assets, which are likely to cost claimants of Bitcoinica debt. Additionally, 40000 USD was also reported to be stolen. The thief is still unknown at this point, but the theft has supposedly been entirely returned. This theft further complicated the [#=may_2012_bitcoinica_hack]May 2012 Bitcoinica Hack[/iurl].

BTC-E Hack
Time:
EventTime
Commencing2012-07-31 00:07 (UTC)
Action taken2012-07-31 06:30 (UTC)
Victim: btc-e.com
Suspects:
  • BTC-E chat user MrWubbles*, known as:
    • Bitcoin-related
      • FelicityWubwell @BitcoinTalk
      • SupaDupaJenkins @BitcoinTalk
      • SupaDupaJenkins @bitcoin-otc
    • Social networking
      • SupaDupaTweetz @Twitter
      • SupaDupaDotBit @YouTube
    * Person has denied committing theft after initially pretending to do it. Evidence supports the faked theft admission as mere trolling.
    † Account used at the time of the theft, no longer active.
  • BTC-E (accusation of inside job): Little evidence has been provided; as BTC-E reimbursed its customers, the only thing it could gain from faking the theft was PR—and faking poor security is usually not considered useful PR.
Status: Pending
Amount: Estimate 4500 BTC (Official estimate)
Equivalent USD: 42000 $ (rounded to nearest thousand)
Equivalent in June 2013 BTC: 340 BTC
Medium of theft: On BTC-E.
On July 31, 2012, the BTC-E Liberty Reserve API secret key was broken. This key was shorter than it needed to be at only 16 characters long. The attacker initiated many Liberty Reserve deposits and injected large amounts of USD into the system, which were quickly sold for BTC. Not all BTC was withdrawn; official estimates state that the scope was limited to 4500 BTC. Similar to the June 2011 Mt. Gox Incident, the BTC-E market was disturbed during the duration of the hack. The handling of this hack was widely applauded after BTC-E revealed they would cover the losses and revert to a backup made just before the hack.

Bitfloor Theft
Time:
EventTime
Theft Commences
Transaction: #1
2012-09-04T03:07:39
Theft Continues
Transaction: #2, #3
2012-09-04T03:12:52
Theft Culminates
Transaction: #4, #5
2012-09-04T03:43:33
All times are blockchain time, and have possible error of up to 3 hours.
Victims: Bitfloor, creditors
Status: Hacker not known, but IP is 178.176.218.157. Some coins repayed to creditors.
Amount: Upper Bound 24086.17219307BTC
Equivalent USD: 248088 $ (rounded to nearest)
Equivalent in June 2013 BTC: 2570 BTC
Transactions of interest:[26]
  • 83f3c30dc4fa25afe57b85651b9bbc372e8789d81b08d6966ea81f524e0a02be
  • d5d23a05858236c379d2aa30886b97600506933bc46c6f2aab2e05da85e61ad2
  • 358c873892016649ace8e9db4c59f98a6ca8165287ac80e80c52e621f5a26e46
  • f9d55dc4b8af65e15f856496335a29e2be40f128a7374c75b75529e864579f93
  • 42ea472060118ee5aee801cdedbc4a3403f3708a87340660f766e2669f0afeb0
Although the keys to the hot wallet of Bitfloor was secured, an unencrypted backup was mistakenly stored on some of the servers. After a hacker gained entry, most of not only the hot wallet but also the cold wallet was stolen. To this date, none of the coins have been returned by the hacker to Bitfloor. Although Bitfloor briefly shut down after the incident, it has since restarted and has committed to repaying its creditors.[27] Unfortunately, Bitfloor's banks shut down the exchange's operation before all coins could be recouped.

Cdecker Theft
Time: September 28, 2012, 07:21:14 PM
Victim: Cdecker
Status: Thief IP may be 178.140.220.181[28]
Amount: Exactly 9222.21195900 BTC
Equivalent USD: 113894 $ (rounded to nearest)
Equivalent in June 2013 BTC: 984 BTC
Transactions of interest:
  • 6f85951bcecbe64999ad192275af087c5be2922ee13937693992c1ddf9ae8ce6
  • 8e6a2d0b8132d3d9edc1fcffe1b3079de59c10c67522e2abc51c1d84b260fdac
A supposedly long-time user of Bitcoin found his personal wallet emptied of a significant amount in late September 2012. Because far more severe personal thefts had occurred in the past, the theft went by without much incident.

2012 50BTC Theft
Date: 2012-10-13
Victim: 50BTC Mining Pool
Status: Unresolved.
Transactions of interest:[29]
  • 9dfdb24667657365c469ff20568fcc820f6f028a125d9c22dc521ae44dcf7c5e
  • bd2ad7b49c22d12cf2f8f12ef601952aed2a96907af4df732156fd90165b5ef5
  • d0035ad189634e90239cca82eb53f78e08c0179620b2bd24e2cb291478c7d57a
  • a2b642bafea45bc128d81314ef33542bc807811ba066329eaa1306bd62bec075
Amount: 1173.51659074BTC
Equivalent in June 2013 BTC: 127 BTC
The 50BTC mining pool suffered a hack of the billing software in late 2012. They were unable to identify the vulnerability. After the incident, 50BTC completely rewrote the billing software.[29]

2012 Trojan
Time:
EventTime
Theft Commences
Transaction: #1
2012-10-18 22:56:56
Theft Continues
Transaction: #2, #3, #4, #5, #6, #7, #8, #9, #10
September, October and November 2012
Mralbi @BitcoinTalk theft
Transaction: #11
2012-11-16 03:30:13
Theft Culminates
Transaction: #12, #13
2012-11-16 03:30:13
Victim: Various, incl. Mralbi @BitcoinTalk
Status: Thief IP may be:
  • 97.106.160.84
  • 178.177.115.229
Amount:
  • Through blockchain: Exactly 3257.00000000 BTC +0.02450000 BTC tx fees
  • Through Mt. Gox: Lower Bound 200 BTC
Total: About 3457 BTC
Equivalent USD: 38000 $ (rounded to nearest thousand)
Equivalent in June 2013 BTC: 372 BTC
Transactions of interest:
  • 04e378f81eb620f21927639cd4cda00e0473ca958f4d21f2255f37554b5440fa
  • 065e7ff6b1503fc023876ffe930dcd9866531812e40bbda72835f232c2f23910
  • 0723b67631588b6d5a4a406a9ef8d431c0d5282c6f1cb308fef57c7503d83158
  • 0ae924c33555b294a3f0b256da6a02ab996d30be00eaf184d53281009a3a50d6
  • 3f938408deb6d20a74f6256d3ba0217df266450d4c00c40d94df7b840f66db05
  • 9766b624e004ad1a9369b1b461d33f57e7dddabb43942d34ac10e912cd9ce36b
  • 2db76ebd4b5eecf008334d1bdc1f63f764ca3fb9275557a2a82d52ebf52eea9f
  • c041a74fd565c3eb247ff4b1fb6eb0ab9299c3e7d58e5172c28cbe9540858d5a
  • 82719bedd0730511385faf68d88b9a03e269a40e3fa5f269efe4a9fc3a821f7f
  • 2bc69aa29f56d7051f9cb19bf923c5e2a81879b4f6a3bc849f4166f56d417c2a
  • 8d6602b0e8e4479d79e5dab0c35bdb4f7545513cb426411348ec1502413a8f80
  • 3a66ebef43041f230e799f1efd3a93e41f875c718da683e236632e13a70cf898
  • 0197692748ba894697a0a48fdfdb3e72f3275b079005efad8be062de38b65edf
A trojan horse stole thousands of BTC between September and November of 2012. BitcoinTalk user “mralbi” was a major victim, losing almost 2600 BTC.[30] The same hacker also stole 200 BTC from Mt. Gox accounts, supposedly with the same trojan which doubled as a keylogger.

Bit LC Theft
Time: Discovered February 13, 2013
Victim: Bit LC Inc. and miners
Status: Suspected theft by “Erick”, could be misunderstanding.
Amount: Estimate 2000 BTC[31]
Equivalent USD: 51000 $ (rounded to nearest thousand)
Equivalent in June 2013 BTC: 481 BTC
Transactions of interest:
This alleged theft was unique in that coins held in the hot wallet were safe, but coins held in a cold wallet compromised. The thief is not expected to have access to the coins regardless, so there was little financial gain from this theft. Erick, allegedly the only one with physical access to Bit LC Inc.'s cold wallet, has failed to communicate and withdraw coins. Bit LC Inc. therefore was required to declare bankruptcy. There is no proof that Erick intentionally stole the coins; indeed, some evidence asserts that he or she may simply have disappeared in some manner.

BTCGuild Incident
Time: March 10, 2013
Victim: BTCGuild mining pool
Status: 16 thieves, one has returned 47 BTC
Amount: About 1254 BTC[32]
Equivalent USD: 58737 $ (rounded to nearest)
Equivalent in June 2013 BTC: 675 BTC
When BTCGuild was upgrading the Bitcoind client to 0.8, the mining pool used its original upgrade plan. However, 0.8 is unique in that it reindexes the blockchain. This prompted a temporary state in which the pool was paying out for difficulty-1 shares, as that was the extent of the blockchain parsed. Sixteen separate thieves subsequently emptied the hot wallet. 47 BTC have been returned to the pool. The pool would on the following day lose even more money thanks to a bug causing its recent upgrade to 0.8 to differ from nodes running 0.7 or lower.

2013 Fork
Time: 2013-03-11
Victims: OKPay, many mining pools including slush, BTCGuild, etc.
Status: OKPay double-spend attack resolved.
Amount: Exactly 960.09645667BTC[33]
Equivalent in June 2013 BTC: 517 BTC
A major blockchain fork occurred due to a bug in Bitcoin-Qt clients which had not upgraded to the new 0.8 version. Unfortuantely, those clients formed the majority of Bitcoin users at the time. The resulting fork split mining pools; those that had upgraded lost block revenue. Some mining pools took the hit, whereas others passed the cost on to miners.

The fork also made possible isolated double-spending attack. Only one such attack was conducted, costing OKPay significantly. Luckily, the thief has since returned the money.


Bitcoin Rain
Date: 2011-10-03 to 2013-03-28
Victims: Investors in Bitcoin Rain, account holders on Mercado Bitcoin.
Perpetrator: Leandro César
Amount: Estimate 4000 BTC[34]
Equivalent in June 2013 BTC: 2150 BTC
A suspected long-running con likened to the infamous Bitcoin Savings and Trust, Bitcoin Rain finally defaulted on March 28, 2013. Leandro César claimed there was a security breach on his exchange website Mercado Bitcoin.[35] As Bitcoin Rain's funds were stored there, investors in Bitcoin Rain as well as account holders on Mercado Bitcoin lost money. Some money was reportedly paid back, but the vast majority is still outstanding.

ZigGap
Date: February to April 2013
Victim: Investors and creditors of ZigGap
Amount: About 1708.65967460BTC[36]
Equivalent in June 2013 BTC: 919 BTC
User aethero, who was originally a reputable Bitcoiner, founded ZigGap after two previously succesful ventures, including BitPantry. Purporting to offer easy ways to purchase BTC, ZigGap saw little business. The founder seems to have also suffered mental illness in the latter stages of business operation.[37]

Ozcoin Theft
Time: 2013-04-19
Victim: Ozcoin mining pool
Status: Thief, a user of Strongcoin, known but not disclosed. Strongcoin seized funds and returned 568.94BTC to the mining pool operator.[38]
Amount: Exactly 922.99063322BTC[39]
Equivalent in June 2013 BTC: 983 BTC
A hacker managed to infilterate Ozcoin's payout script, such that all money was paid out to the hacker's address. Luckily, a day later Strongcoin seized most of the stolen funds and promptly returned them to Ozcoin.

Just Dice Incident
Time: 2013-07-15
Victim: Just-Dice investors, Dooglus
Suspect: Just-Dice.com user “celeste”, who claims he was hacked.
Status: Bets rolled back.
Amount: About 1300 BTC[40]
Equivalent USD: About 121000 $
Equivalent in June 2013 BTC: 1000 BTC
A player on Just-Dice.com with an especially large balance asked to withdraw 1300 BTC. Because the hot wallet did not contain that much money, Just-Dice.com operator “dooglus” manually processed the transaction from the cold wallet. However, “dooglus” forgot to remove the balance in Just-Dice.com's database. The Just-Dice.com user then proceeded to bet the fake balance on the gambling website and subsequently lost it all. Because of the manner Just-Dice.com is structured, the website lost money even though the malicious user did not earn any money from the theft.

To recoup losses, the operator rolled back the gambling losses and corrected the wrong balance. This resulted in losses for all “investors” of Just-Dice.com; however, the operator explains that nobody actually lost money because the bet should never have happened. In conclusion, it seems that odd decisions on the malicious user's part and probability ensured no actual loss from the incident, even though 1300 BTC was stolen. The amount was simply lost back to Just-Dice.com thanks to luck in the website's favour.


Silk Road Seizure
Dates:
  • 2013-10-02: First seizure (Silk Road user funds)
  • 2013-10-25: Second seizure (Ross Ulbricht's personal coins)
Victim: Silk Road, Ross Ulbricht, Silk Road users
Perpetrator: FBI seizure
Amount:
  • First seizure: 27618.69843217BTC[41]
  • Second seizure: 144336.39449470BTC[42]
Total: Exactly 171955.09292687BTC
Equivalent in June 2013 BTC: TBD
Silk Road was a former underground marketplace that dealt primarily in Bitcoin. Run by Ross Ulbricht, it was once widely known for frequent narcotic sales.[43] Although it operated under the jurisdiction of the United States, it made little attempt to comply with US law.[44] However, clever use of the Tor technology allowed Silk Road to escape the authorities for years.

Finally, in October 2013, the FBI was able to produce conclusive evidence of Ross Ulbrict's culpability. Ulbricht was found in San Francisco and arrested.[45] In the days ensuing, it seized a large portion of Ulbricht's personal wealth in addition to stored balances by Silk Road users.[46] However, the FBI has yet to successfully seize an estimated remaining 400000 BTC in Ulbricht's personal wallet.[47].

The first seizure came right as Silk Road's domain was seized, and included funds belonging to Silk Road users. The second seizure came several weeks later, seizing coins belonging to Ross Ulbricht himself.

This seizure is notable in that it is the first major legally authorized seizure. At the moment, Ulbricht is awaiting trial in New York.[48]


Inputs.io Hack

Dear reader,

This thread has been superseded by a newer thread due to character size restrictions. A copy is left here for archival purposes; however, this copy is significantly out-of-date.

Date: 2013-10-26[49] (disputed)
Victim: Inputs.io, passed on to creditors.
Perpetrator: Accusations of inside job.
Transaction of interest: 9536feebe3a50b94f85ca27d56e669a7209bd4188385d55c5b97227c95cf7f74[50]
Amount: Estimate 4100 BTC[51]
Inputs.io, a web wallet service run by BitcoinTalk user TradeFortress, was supposedly “hacked” in October 2013 and was unable to repay user balances in full. There are many accusations of the hack being an inside job. TradeFortress had a contentious reputation and had supposedly scammed two separate people before this incident.[52][53] When the theft was announced in November 2013, TradeFortress began offering partial refunds; however, 4100 BTC was not paid back as that was the shortfall from the supposed “hack”.

Thefts without known chronology
Kronos Hack
Time: ?
Suspects:
  • Alberto Armandi
    • bitdaytrade @BitcoinTalk
    • bitscalper @BitcoinTalk
    • jjfarren @BitcoinTalk
Victim: Kronos.io
Status: Legal action possibly pending
Amount: Estimate 4000 BTC (official estimate)
Amount in June 2013 BTC: 400 BTC[54]
A serial scammer, Alberto Armandi reportedly hacked into a website he himself coded. The vulnerability was in the withdrawal script that Alberto coded, reportedly intentionally as a backdoor. Information about Kronos is highly uncertain, due to a lack of communication. Jonathon Ryan Owens was not responsive to demands for information.

Thefts not included
Some thefts in Bitcoin's history, although severe and damaging to Bitcoin users, did not involve the theft of over one thousand bitcoins. These thefts are listed below.
  • World Bitcoin Exchange, due to fraudulent activity, stole over 5000 BTC worth at the time in AUD. The total amount stolen was 25779.49 AUD. More information: https://bitcointalk.org/index.php?topic=65867.msg923845#msg923845
  • Tradehill was repeatedly hassled by Dwolla, and eventually dropped support after being scammed off 17000 USD. Later fraudulent transactions ended up costing the exchange even more, and after the March 2012 Linode Hacks they shut down, citing 100000 USD stolen or scammed through fraud.

Minor but notable thefts
Other thefts are minor, but are unique in some manner (for example, interesting methods or a first of its kind).
On watch
This section is reserved for possible thefts and scams that bear mentioning. It is not an endorsement, and the presence on this list does not imply a scam. At the moment, no thefts are listed here.

Pirate default

Dear reader,

This thread has been superseded by a newer thread due to character size restrictions. A copy is left here for archival purposes; however, this copy is significantly out-of-date. This section is no longer available in this archived copy.


References


Dear reader,

This thread has been superseded by a newer thread due to character size restrictions. A copy is left here for archival purposes; however, this copy is significantly out-of-date.
bulanula
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May 26, 2012, 08:52:06 PM
 #3

Thanks for the comprehensive list.

Might want to include hacker caught / law enforcement involved category.

I wanted to do a list like this myself but never had the time.

Can you also maybe do a total of how many BTC have been "stolen" / "lost" / "tainted" / "scammed" !
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May 26, 2012, 09:13:47 PM
Last edit: August 14, 2012, 07:06:14 PM by dree12
 #4

I'm not sure how to do a total of the amount of stolen coins, because they are always constantly recycled and restolen. If the hacker is ever caught in a major theft, I will be sure to add a category for that.
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May 26, 2012, 09:22:07 PM
 #5

Everyone forgets that Bitcoinica has actually been hacked 3 times.

http://bitcoinmedia.com/bitcoinica-vulnerability-discovered/

I don’t know how much exactly has been stolen in Feb, but it was a few thousand.
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May 26, 2012, 09:28:23 PM
 #6

Everyone forgets that Bitcoinica has actually been hacked 3 times.

http://bitcoinmedia.com/bitcoinica-vulnerability-discovered/

I don’t know how much exactly has been stolen in Feb, but it was a few thousand.
To be able to include it, there needs to be a good enough estimate. I'll put it as an unknown with the range 2000-9000 for now.

On a side note, does anyone know more about this?
Some guy managed to scam a huge amount of bitcoins on 4/20 'sale weekend' where the site doesn't charge escrow fees, so there's a crazy amount of orders. Tony, their so-called Top #1 selling vendor decided to make hundreds of listings that were auto finalized instantly then disappeared. The estimated loss is at least 100k in bitcoins. Has to be the biggest bitcoin scam of all time, even better than the 643BTC that guy goxxed out of MtGox back in 2011. (allinvain huge loss doesn't count, never was any proof). He also lured fools off site to scam an unknown amount through a secret store he set up.

TONY 2012 - invisible drugs

If this is true, then that is ~20000 BTC, which would rank fourth in the list.
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May 26, 2012, 09:57:17 PM
 #7

Could you do it in chronological order?

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
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May 26, 2012, 10:10:30 PM
 #8

Could you do it in chronological order?
Done. The by BTC severity list remains, and I think I'll do a by USD (wt. avg for the long-period scams) list too soon.

Some guy managed to scam a huge amount of bitcoins on 4/20 'sale weekend' where the site doesn't charge escrow fees, so there's a crazy amount of orders. Tony, their so-called Top #1 selling vendor decided to make hundreds of listings that were auto finalized instantly then disappeared. The estimated loss is at least 100k in bitcoins. Has to be the biggest bitcoin scam of all time, even better than the 643BTC that guy goxxed out of MtGox back in 2011. (allinvain huge loss doesn't count, never was any proof). He also lured fools off site to scam an unknown amount through a secret store he set up.

TONY 2012 - invisible drugs

Still need confirmation/more details for this.
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May 26, 2012, 10:27:27 PM
 #9

I can't wait for The Crypto Network to come out in theaters:  http://www.imdb.com/title/tt12850160/  Wink

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May 26, 2012, 11:01:53 PM
 #10

I wanted to make such a list myself too for a few days already but glad someone else wasn't as lazy as me.

You forgot to add moonco.in and a few more probably Wink

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May 26, 2012, 11:23:13 PM
Last edit: May 26, 2012, 11:40:15 PM by dree12
 #11

I wanted to make such a list myself too for a few days already but glad someone else wasn't as lazy as me.

You forgot to add moonco.in and a few more probably Wink
Does anyone have a better estimate of moonco.in's theft amount? Using SC/BTC parity, and the valuation of SolidCoin at 0.006, and CoinHunter's value of 800000 SC stolen, I think 4800 might be a reasonable estimate. To veer on the conservative side, and to avoid any false precision, I'll use 4000 BTC as a weak estimate.
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May 26, 2012, 11:35:07 PM
 #12

Some guy managed to scam a huge amount of bitcoins on 4/20 'sale weekend' where the site doesn't charge escrow fees, so there's a crazy amount of orders. Tony, their so-called Top #1 selling vendor decided to make hundreds of listings that were auto finalized instantly then disappeared. The estimated loss is at least 100k in bitcoins. Has to be the biggest bitcoin scam of all time, even better than the 643BTC that guy goxxed out of MtGox back in 2011. (allinvain huge loss doesn't count, never was any proof). He also lured fools off site to scam an unknown amount through a secret store he set up.







The guys name was Tony. I read about 30 or 40 pages on the Silk Road forums. I'll see if I can dig them up.

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May 27, 2012, 12:02:49 AM
 #13

Now, someone make a list of all USD heists, thefts, hacks, scams, and losses resulting in loss >$5,000.
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May 27, 2012, 12:13:52 AM
 #14

https://bitcointalk.org/index.php?topic=65867.msg923845#msg923845

Good list - I would suggest a 1000BTC minimum to get on it, otherwise there would be a number of other, smaller and less relevant losses.  Would Shakaru qualify?
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May 27, 2012, 12:21:31 AM
 #15

Good list - I would suggest a 1000BTC minimum to get on it, otherwise there would be a number of other, smaller and less relevant losses.  Would Shakaru qualify?
(as of now, defined as over one thousand bitcoin)
I should probably make this more clear. I will wait a while on Andrew Nolan if he reappears. Otherwise, this is a very well defined scam with >1000 BTC.

While this is a very significant bitcoin-related "theft" (by the banks?), I take that no bitcoin was lost, and the losses were actually in AUD. Is this correct?
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May 27, 2012, 12:32:58 AM
 #16

While this is a very significant bitcoin-related "theft" (by the banks?), I take that no bitcoin was lost, and the losses were actually in AUD. Is this correct?
I am guessing the majority of losses will be AUD losses (around $26000), but depending on recovery, there are likely to be people over 1000 coins out of pocket.  It might just sit here in the thread as a footnote/cross link.
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May 27, 2012, 12:40:03 AM
 #17

While this is a very significant bitcoin-related "theft" (by the banks?), I take that no bitcoin was lost, and the losses were actually in AUD. Is this correct?
I am guessing the majority of losses will be AUD losses (around $26000), but depending on recovery, there are likely to be people over 1000 coins out of pocket.  It might just sit here in the thread as a footnote/cross link.
I listed WBE in a new section. This section is broad enough some others may qualify.
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May 27, 2012, 12:52:30 AM
Last edit: May 27, 2012, 08:06:51 PM by repentance
 #18

I listed WBE in a new section. This section is broad enough some others may qualify.

TradeHill should probably be in this section too as losses due to fraud were the primary reason they stopped operating.  I think don't think Jered posted final figures on how much user fraud cost TradeHill overall, but I seem to recall him talking about specific amounts in relation to some of the earlier incidents which affected them and the amount being in the tens of thousands of dollars.

Although both TradeHill and MtGox covered the losses so users weren't affected, the Bitcoins which were bought and then sold through fraudulent deposit schemes should probably count as "stolen" or "scammed" as they were never paid for by the users who laundered them.


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May 27, 2012, 01:35:00 AM
 #19

Now, someone make a list of all USD heists, thefts, hacks, scams, and losses resulting in loss >$5,000.

That happens? I'm still using dollars for some things, is it safe?

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May 27, 2012, 09:34:26 AM
 #20

I think don't think Jered posted final figures on how much user fraud cost TradeHill overall

I think he mentioned $100k somewhere but I'm not 100% sure.

P.S. Add shakaru too, about $22k in dollars and bitcoins

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May 27, 2012, 11:35:07 AM
 #21

Great list. You could add Goat's loss of 400 (recovered) coins.
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May 27, 2012, 01:44:30 PM
 #22

Good lord.  That's, what, almost 250,000BTCs lost from hacks.

When I use the word "higher" in a sentence I actually mean lower.
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May 27, 2012, 03:28:18 PM
 #23

its your thread but it seems to me your intent was to identify the more nefarious times and examples of Bitcoin history.  I may be wrong.

If that was the case though you should remove both Stefans and goxes self destruction examples from the list.  If not there is a huge list of self erased bitcoins to be added mine included. Cheesy
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May 27, 2012, 04:03:32 PM
 #24

its your thread but it seems to me your intent was to identify the more nefarious times and examples of Bitcoin history.  I may be wrong.

If that was the case though you should remove both Stefans and goxes self destruction examples from the list.  If not there is a huge list of self erased bitcoins to be added mine included. Cheesy
How many bitcoins did you erase? The goal was to enumerate not necessarily the nefarious times, but all losses for users and businesses of Bitcoin. Erased bitcoin is identical to a theft of ones bitcoin, with the market principles of supply and demand eventually distributing them across all holders.
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May 27, 2012, 04:14:34 PM
 #25

Good lord.  That's, what, almost 250,000BTCs lost from hacks.

Quarter of a million BTC? Small peanuts I say. Only $1,2 million at current rates.

I like these heists better:



Brinks Mat warehouse (1983): broke into warehouse to find ten tonnes of gold bullion worth US$45 million


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The Brinks Mat Robbery occurred on 26 November 1983 when six robbers broke into the Brinks Mat warehouse at Heathrow Airport, England. The robbers thought they were going to steal £3 million in cash; however when they arrived they found ten tonnes of gold bullion (worth £26 million).

10 Greatest Robberies of All Time.
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May 27, 2012, 05:03:40 PM
 #26

its your thread but it seems to me your intent was to identify the more nefarious times and examples of Bitcoin history.  I may be wrong.

If that was the case though you should remove both Stefans and goxes self destruction examples from the list.  If not there is a huge list of self erased bitcoins to be added mine included. Cheesy
How many bitcoins did you erase? The goal was to enumerate not necessarily the nefarious times, but all losses for users and businesses of Bitcoin. Erased bitcoin is identical to a theft of ones bitcoin, with the market principles of supply and demand eventually distributing them across all holders.

well, i erased 12 btc once.  i also had 800 btc stolen from me by cuddlefish aka Nathaniel Theis of the now defunct Ubitex
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May 27, 2012, 05:49:24 PM
 #27

Yeah, I had my stupid learning mistakes also.  I am interested though to keep track of this list and to see how this progresses.

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May 27, 2012, 05:51:37 PM
 #28

its your thread but it seems to me your intent was to identify the more nefarious times and examples of Bitcoin history.  I may be wrong.

If that was the case though you should remove both Stefans and goxes self destruction examples from the list.  If not there is a huge list of self erased bitcoins to be added mine included. Cheesy
How many bitcoins did you erase? The goal was to enumerate not necessarily the nefarious times, but all losses for users and businesses of Bitcoin. Erased bitcoin is identical to a theft of ones bitcoin, with the market principles of supply and demand eventually distributing them across all holders.

well, i erased 12 btc once.  i also had 800 btc stolen from me by cuddlefish aka Nathaniel Theis of the now defunct Ubitex
1000 BTC for Ubitex is a significant amount! Are you sure this money was stolen? No scammer tag is present on cuddlefish.
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May 27, 2012, 06:47:08 PM
 #29

Isn't there already a thread dedicated to the number of bitcoins lost and/or destroyed, but not stolen?

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May 27, 2012, 07:21:36 PM
 #30

Isn't there already a thread dedicated to the number of bitcoins lost and/or destroyed, but not stolen?

yes, by SgtSpike.
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May 27, 2012, 07:24:04 PM
 #31

its your thread but it seems to me your intent was to identify the more nefarious times and examples of Bitcoin history.  I may be wrong.

If that was the case though you should remove both Stefans and goxes self destruction examples from the list.  If not there is a huge list of self erased bitcoins to be added mine included. Cheesy
How many bitcoins did you erase? The goal was to enumerate not necessarily the nefarious times, but all losses for users and businesses of Bitcoin. Erased bitcoin is identical to a theft of ones bitcoin, with the market principles of supply and demand eventually distributing them across all holders.

well, i erased 12 btc once.  i also had 800 btc stolen from me by cuddlefish aka Nathaniel Theis of the now defunct Ubitex
1000 BTC for Ubitex is a significant amount! Are you sure this money was stolen? No scammer tag is present on cuddlefish.

yes it was stolen.  he walked off with the money.  to be fair he spent some of that on web fees, hosting, development, Red Bull, etc, but the majority he walked off with. 

there are several other ppl here on the forum who got hosed too but not as much as me.

if he is not tagged as a scammer please tell me how to do that since that's exactly what he is.
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May 27, 2012, 07:35:29 PM
 #32

yes it was stolen.  he walked off with the money.  to be fair he spent some of that on web fees, hosting, development, Red Bull, etc, but the majority he walked off with. 

there are several other ppl here on the forum who got hosed too but not as much as me.

if he is not tagged as a scammer please tell me how to do that since that's exactly what he is.

His identity is known to Nefario as far as I know, info on whois and quick google search give some results too, how come no one managed to extract the money. 
He ran with 1000 BTC last summer, so the amount owed could be around $10k. Not bad for a 14 year old.

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May 27, 2012, 09:28:37 PM
 #33

What was promised here? Was any of Ubitex actually delivered?

I added the "2011 Ubitex Scam" with a scam amount of 1138.98 BTC, but added a note saying that 1000 of those were spent.
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May 27, 2012, 10:12:32 PM
 #34

Be nice to put this on the wiki at https://en.bitcoin.it/wiki/Main_Page

Toby.
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May 27, 2012, 10:18:43 PM
 #35

Good lord.  That's, what, almost 250,000BTCs lost from hacks.

Quarter of a million BTC? Small peanuts I say. Only $1,2 million at current rates.

That's a pretty significant percentage of the existing bitcoin supply and even the total possible bitcoin supply.


When I use the word "higher" in a sentence I actually mean lower.
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May 27, 2012, 10:25:13 PM
 #36

Be nice to put this on the wiki at https://en.bitcoin.it/wiki/Main_Page

Toby.

Terrible idea. This is the last thing bitcoin newbies have to see when getting to know bitcoin. Wallet security already implies enough.

Quote
Quarter of a million BTC? Small peanuts I say. Only $1,2 million at current rates.

Considering that most loss the BTC lost/stolen were from summer last year when BTC was worth 2-3x as it is now, the actual amount people lost is substantially higher.

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May 27, 2012, 10:56:55 PM
 #37

Be nice to put this on the wiki at https://en.bitcoin.it/wiki/Main_Page

Toby.
I hereby release the content in the OP, with the exception of the introductory paragraphs, into the public domain. If this is not legally permissable, I hereby license the content for usage as liberally as permissable by law.

(aka I'm too lazy to put it on the wiki myself, but feel free to do so).

Be nice to put this on the wiki at https://en.bitcoin.it/wiki/Main_Page

Toby.

Terrible idea. This is the last thing bitcoin newbies have to see when getting to know bitcoin. Wallet security already implies enough.
It also serves as a warning, so users take due diligence before MyBitcoin 2.0 gets hacked.
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May 28, 2012, 05:10:40 AM
 #38

Good lord.  That's, what, almost 250,000BTCs lost from hacks.
Quarter of a million BTC? Small peanuts I say. Only $1,2 million at current rates.
That's a pretty significant percentage of the existing bitcoin supply and even the total possible bitcoin supply.

Maybe lower than the percentage of gold supply in the course of history that was once smuggled, robbed, lost, buried, confiscated until resting where it is now.
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May 28, 2012, 05:45:23 AM
 #39

Now, someone make a list of all USD heists, thefts, hacks, scams, and losses resulting in loss >$5,000.

Exactly. +1

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May 28, 2012, 06:09:45 AM
 #40

New heist (June 20, 2012): Bitcoin Savings and Trust scams over 20,000 BTC.

Edit: new platform
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May 28, 2012, 06:11:51 AM
 #41

New heist (June 20, 2012): Bitcoin Savings and Trust scams over 20,000 BTC.

I see what you did there....

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May 28, 2012, 06:41:49 AM
Last edit: May 28, 2012, 07:02:21 AM by stochastic
 #42

With all this recent talk about Bitcoinica, I couldn't help but do some research on prior Bitcoin large thefts (as of now, defined as over one thousand bitcoin), all during the period I was myself involved with Bitcoin but did not know about (March 2011 was the month I first learned about Bitcoin). Before that time, I assume the thefts were not well-publicized or were minor in nature. I have provided dates and UTC times as I know them, and to be as accurate as possible. For disputed thefts, I applied best judgement and included the ones that were most publicly accepted.

Because of the volitile nature of Bitcoin's exchange price, I have denominated heist estimates in BTC. Although not heists per se, major permanent bitcoin losses are also included here in italics. If I missed any major thefts, heists, or losses, or if you have any other information to contribute to one of these events, please leave a reply in this thread.

Note: To qualify, a major heist, theft, hack, scam, or loss must cause damage greater than or equal to 1000 BTC. Borderline thefts may qualify if reasonable estimates are over or equal to 1000 BTC.

List of events by severity (BTC)
Listed by the name found later. Use Ctrl-F for more information.

1. July 2011 MyBitcoin.com Theft (78739.58205388 BTC)
2. March 2012 Linode Hacks (46653.47830495 BTC)
3. June 2011 Allinvain Theft (25000.01000000 BTC)
4. April 2012 Silk Road Scam (20000 BTC)
5. May 2012 Bitcoinica Hack (18547.66867623 BTC)
6. August 2011 Bitomat.pl Loss (17000 BTC)
7. October 2011 Bitcoin7 Hack (15000 BTC)
8. June 2011 Stefan Thomas Loss (7000 BTC)
9. February 2012 Bitcoinica Theft (5000 BTC)
10. September 2011 Moonco.in Hack (4000 BTC)
11. June 2011 Mt. Gox Hack & Theft (2643.27 BTC)
12. October 2011 Mt. Gox Loss (2609.36304319 BTC)
13. 2011 Ubitex Scam (1138.98 BTC)
14. 2012 Bitscalper Scam (1000 BTC)



You forgot that one where that one guy scammed his business partner out of 300,000 bitcoins for $5000.  Maybe it was 100,000 bitcoins, I forget now and can't find the post.

Introducing constraints to the economy only serves to limit what can be economical.
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May 28, 2012, 12:13:35 PM
 #43

With all this recent talk about Bitcoinica, I couldn't help but do some research on prior Bitcoin large thefts (as of now, defined as over one thousand bitcoin), all during the period I was myself involved with Bitcoin but did not know about (March 2011 was the month I first learned about Bitcoin). Before that time, I assume the thefts were not well-publicized or were minor in nature. I have provided dates and UTC times as I know them, and to be as accurate as possible. For disputed thefts, I applied best judgement and included the ones that were most publicly accepted.

Because of the volitile nature of Bitcoin's exchange price, I have denominated heist estimates in BTC. Although not heists per se, major permanent bitcoin losses are also included here in italics. If I missed any major thefts, heists, or losses, or if you have any other information to contribute to one of these events, please leave a reply in this thread.

Note: To qualify, a major heist, theft, hack, scam, or loss must cause damage greater than or equal to 1000 BTC. Borderline thefts may qualify if reasonable estimates are over or equal to 1000 BTC.

List of events by severity (BTC)
Listed by the name found later. Use Ctrl-F for more information.

1. July 2011 MyBitcoin.com Theft (78739.58205388 BTC)
2. March 2012 Linode Hacks (46653.47830495 BTC)
3. June 2011 Allinvain Theft (25000.01000000 BTC)
4. April 2012 Silk Road Scam (20000 BTC)
5. May 2012 Bitcoinica Hack (18547.66867623 BTC)
6. August 2011 Bitomat.pl Loss (17000 BTC)
7. October 2011 Bitcoin7 Hack (15000 BTC)
8. June 2011 Stefan Thomas Loss (7000 BTC)
9. February 2012 Bitcoinica Theft (5000 BTC)
10. September 2011 Moonco.in Hack (4000 BTC)
11. June 2011 Mt. Gox Hack & Theft (2643.27 BTC)
12. October 2011 Mt. Gox Loss (2609.36304319 BTC)
13. 2011 Ubitex Scam (1138.98 BTC)
14. 2012 Bitscalper Scam (1000 BTC)



You forgot that one where that one guy scammed his business partner out of 300,000 bitcoins for $5000.  Maybe it was 100,000 bitcoins, I forget now and can't find the post.
I was debating whether to add that one (it was knightmb's "purchase" of 300000 BTC). However, the business partner did receive what he was looking for, which was $5000.
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May 28, 2012, 03:30:04 PM
 #44

With all this recent talk about Bitcoinica, I couldn't help but do some research on prior Bitcoin large thefts (as of now, defined as over one thousand bitcoin), all during the period I was myself involved with Bitcoin but did not know about (March 2011 was the month I first learned about Bitcoin). Before that time, I assume the thefts were not well-publicized or were minor in nature. I have provided dates and UTC times as I know them, and to be as accurate as possible. For disputed thefts, I applied best judgement and included the ones that were most publicly accepted.

Because of the volitile nature of Bitcoin's exchange price, I have denominated heist estimates in BTC. Although not heists per se, major permanent bitcoin losses are also included here in italics. If I missed any major thefts, heists, or losses, or if you have any other information to contribute to one of these events, please leave a reply in this thread.

Note: To qualify, a major heist, theft, hack, scam, or loss must cause damage greater than or equal to 1000 BTC. Borderline thefts may qualify if reasonable estimates are over or equal to 1000 BTC.

List of events by severity (BTC)
Listed by the name found later. Use Ctrl-F for more information.

1. July 2011 MyBitcoin.com Theft (78739.58205388 BTC)
2. March 2012 Linode Hacks (46653.47830495 BTC)
3. June 2011 Allinvain Theft (25000.01000000 BTC)
4. April 2012 Silk Road Scam (20000 BTC)
5. May 2012 Bitcoinica Hack (18547.66867623 BTC)
6. August 2011 Bitomat.pl Loss (17000 BTC)
7. October 2011 Bitcoin7 Hack (15000 BTC)
8. June 2011 Stefan Thomas Loss (7000 BTC)
9. February 2012 Bitcoinica Theft (5000 BTC)
10. September 2011 Moonco.in Hack (4000 BTC)
11. June 2011 Mt. Gox Hack & Theft (2643.27 BTC)
12. October 2011 Mt. Gox Loss (2609.36304319 BTC)
13. 2011 Ubitex Scam (1138.98 BTC)
14. 2012 Bitscalper Scam (1000 BTC)



You forgot that one where that one guy scammed his business partner out of 300,000 bitcoins for $5000.  Maybe it was 100,000 bitcoins, I forget now and can't find the post.
I was debating whether to add that one (it was knightmb's "purchase" of 300000 BTC). However, the business partner did receive what he was looking for, which was $5000.

I remember his name was knight something...

Quote
One bitcoin.org forum member was able to acquire over 300,000 bitcoins from one of his former employers who thought bitcoins had no value. Those bitcoins were sold for $5,000 when they were actually worth over $2 million dollars!

knightmb's business partner was an idiot, but since the business partner was relying on knightmb expertise on bitcoins I consider what he did fraud.  It would be like a bank being stupid enough to give the only keys to the vault to their security guard and the guard stealing all the cash inside.

Who here would do business with knightmb after knowing what he did to his business partner?  From other forums it seems to be a personality trait of knightmb.

Introducing constraints to the economy only serves to limit what can be economical.
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May 28, 2012, 06:43:34 PM
 #45

I feel rather sorry for the employees who were duped. I suppose those men and women didn't have it as bad as those who were duped like no other.
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May 28, 2012, 11:31:19 PM
 #46

I feel rather sorry for the employees who were duped.
I don't think they were employees, I don't think his project ever got that big. I think they were employers, or more likely business partners, possibly even a bank or (small scale) vulture capitalist. Whoever it was, they really should have sought a valuation of what they were selling independent of the person they were selling it to!

Anyway, fascinating though the story is, I don't think it was a theft, hack, scam, or loss. Knightmb paid $s for his BTCs, he just managed to strike a once-in-a-lifetime bargain!

Toby.
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May 29, 2012, 09:10:05 AM
 #47

I was debating whether to add that one (it was knightmb's "purchase" of 300000 BTC). However, the business partner did receive what he was looking for, which was $5000.

+1

I think you could also add in parenthesis how much were the Bitcoin in each case worth at the time of scam/theft/loss

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June 05, 2012, 01:52:11 AM
 #48

I added shakaru's scam, due to popular demand and the fact that it has been a month since the last communication. It ranks as the 13th largest scam of all BTC history.
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June 13, 2012, 09:26:31 AM
 #49

Hi, I am going to use the OP's post as a source for an article I am working on. It will be more comprehensive and detailed, and the OP will be credited.

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July 14, 2012, 02:49:00 AM
 #50

New: July 2012 Bitcoinca Theft (ranking #3).
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July 14, 2012, 03:14:17 AM
 #51

impressive!
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July 14, 2012, 03:19:07 AM
 #52

It's sad that so many "reputable" (or formerly reputable) Bitcoin websites are on this list along with the scammers... gox, bitcoinica, etc.

(BFL)^2 < 0
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July 31, 2012, 01:22:48 AM
Last edit: July 31, 2012, 01:19:30 PM by dree12
 #53

Notice: this post is outdated and kept for archival purposes. The hack has been roughly added to the chronological history of the OP. Do not trust what you read.

New hack in progress: BTC-E.com

I'm actively monitoring this right now. This looks like it will be a disaster.

So far, the fraudulent volume is 61196.73 BTC. This is all the fraudulent volume (it's all the "extra" BTC poofed into the system). The attack is still ongoing, but more BTC poofed into the system will likely never make it out of the exchange.

This fraudulent volume, or official figures on how much was withdrawn, will be the value listed for amount stolen from btc-e. I will also list the amount btc-e did not compensate its customers for, as the amount stolen passed on to customers.

Because the attack was through a modification of USD, it was likely a SQL injection (or possible something more severe). Expect a database leak.

A lower bound has been established based on blockchain activity: 20000 BTC. The upper bound of around ~60000 BTC in volume remains. Either way, this hack would be a disaster for Bitcoin, easily ranking in the top ten.

The hacker is unknown. A character by the name of MrWubbles, claiming to be supa, someone infuriated with the BTC-E exchange, claims responsibility. This point is disputed, as MrWubbles has almost certainly lied about being able to delete the database. The most likely entry point was a SQL injection.

For all victims of the hack, I sympathize with you. Although security should have been higher, the BTC-E team will still likely absorb much of this loss (as well as lose their past profits), and deserve sympathy as well.

Instructions for best recovery:
1. Sell ALL USD immediately. There is definitely not enough USD to pay out.
2. Withdraw ALL BTC immediately. Unless fractional reserve or cold storage was employed, there should be enough. This is confirmed by one of DeathAndTaxes's experiments.
3. Change passwords for other websites immediately. The database is likely to leak, if a SQL injection was the culprit.

Best of luck to all victims.
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July 31, 2012, 01:28:41 AM
 #54

New hack in progress: BTC-E.com

I'm actively monitoring this right now. It seems that many users are reporting large balances.

Links?

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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July 31, 2012, 01:30:32 AM
 #55

New hack in progress: BTC-E.com

I'm actively monitoring this right now. It seems that many users are reporting large balances.

Links?
Here: https://bitcointalk.org/index.php?topic=96802.0;topicseen
Also, check chat: https://btc-e.com
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July 31, 2012, 03:13:03 AM
 #56

New hack in progress: BTC-E.com

I'm actively monitoring this right now. This looks like it will be a disaster.

So far, the fraudulent volume is 61196.73 BTC. This is all the fraudulent volume (it's all the "extra" BTC poofed into the system). The attack is still ongoing, but more BTC poofed into the system will likely never make it out of the exchange.

This fraudulent volume, or official figures on how much was withdrawn, will be the value listed for amount stolen from btc-e. I will also list the amount btc-e did not compensate its customers for, as the amount stolen passed on to customers.

Because the attack was through a modification of USD, it was likely a SQL injection (or possible something more severe). Expect a database leak.

A lower bound has been established based on blockchain activity: 20000 BTC. The upper bound of around ~60000 BTC in volume remains. Either way, this hack would be a disaster for Bitcoin, easily ranking in the top ten.

For all victims of the hack, I sympathize with you. Although security should have been higher, the BTC-E team will still likely absorb much of this loss (as well as lose their past profits), and deserve sympathy as well.

Instructions for best recovery:
1. Sell ALL USD immediately. There is not enough USD to pay out.
2. Withdraw ALL BTC immediately. Unless fractional reserve was employed, there should be enough.
3. Change passwords for other websites immediately. The database is likely to leak, if a SQL injection was the culprit.

Best of luck to all victims.

This needs its own thread.  A lot of people don't read the Speculation forum and posters need to be aware that this is happening now.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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July 31, 2012, 01:44:57 PM
 #57

New: July 2012 BTC-E Hack (ranking #11).
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August 14, 2012, 07:40:42 PM
 #58

Trying out a new navigation system using links, hopefully this will accommodate the huge volume of thefts. I would appreciate it greatly if anyone could fill me in on the thefts that don't have commentary (you will, of course, be listed in the credits section).

Also, retroactively added the Betcoin Theft (#13).
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August 15, 2012, 07:48:42 AM
 #59

Trying out a new navigation system using links, hopefully this will accommodate the huge volume of thefts. I would appreciate it greatly if anyone could fill me in on the thefts that don't have commentary (you will, of course, be listed in the credits section).

Also, retroactively added the Betcoin Theft (#13).

I like how comprehensive the list is, as well as having several lists with different focus.
Well done! :-)

Ohe hint: With these large numbers, it does not really make sense to give the full decimal number. It just makes it harder to read. In most cases, the numbers are estimates anyway.. I would suggest to cut off the decimals or round to nearest bitcoin, depending on number.

Noting better than waking up and reading through that list, to get your bloodpressure up, right? heh

Ente
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August 15, 2012, 08:58:06 PM
 #60

Trying out a new navigation system using links, hopefully this will accommodate the huge volume of thefts. I would appreciate it greatly if anyone could fill me in on the thefts that don't have commentary (you will, of course, be listed in the credits section).

Also, retroactively added the Betcoin Theft (#13).

I like how comprehensive the list is, as well as having several lists with different focus.
Well done! :-)

Ohe hint: With these large numbers, it does not really make sense to give the full decimal number. It just makes it harder to read. In most cases, the numbers are estimates anyway.. I would suggest to cut off the decimals or round to nearest bitcoin, depending on number.

Noting better than waking up and reading through that list, to get your bloodpressure up, right? heh

Ente
I made the decimals smaller when exact, and put them to the side when it is a lower/upper bound or about. The numbers now have descriptors now (l.b. = lower bound, u.b. = upper bound, a. = about, est. = estimate).

While reviewing the list, I revised the Bitcoin7 estimate down 4000 BTC (from 15000 BTC to 11000 BTC) after using a new rationale. This may be either too high or too low, but should be better than the previous value (which is now listed as an upper bound).

Also added a table of contents to organize the list better.
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August 15, 2012, 09:20:34 PM
 #61

I just wanted to give my thanks for this list. Everyone should read it over once.
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August 29, 2012, 01:43:35 AM
 #62

I'm at odds about how to handle the recent occurrences. Please read this and offer suggestions accordingly.
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August 29, 2012, 01:49:02 AM
 #63

he actually "stole" much less than 500,00 BTC. Nice thread, btw.
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August 29, 2012, 01:49:59 AM
 #64

he actually "stole" much less than 500,00 BTC.
Could you please elaborate? I am trying to collect as many sources as possible to provide an objective but accurate estimate to the extent of damage.

New source states 500000 BTC stolen: DailyTech. Uncited, though.

Ah, found the citation (it was from the Verge, which cited Maged's post containing Pirate's own words). This thread, if anyone is curious.
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August 29, 2012, 02:03:27 AM
 #65

he actually "stole" much less than 500,00 BTC.
Could you please elaborate? I am trying to collect as many sources as possible to provide an objective but accurate estimate to the extent of damage.

New source states 500000 BTC stolen: DailyTech. Uncited, though.

It is a guess though a pretty accurate number could be had if all of the pass-through published data and you added that to bitcoinmax and gpumax.

You do have to figure that the interest is not real though. If you deposited 100 BTC in the beginning and it compounded to 300 BTC it should be counted as 100 BTC.    Pirate may have lied to you , but he did not take 300 BTC. 

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August 29, 2012, 02:05:32 AM
 #66

he actually "stole" much less than 500,00 BTC.
Could you please elaborate? I am trying to collect as many sources as possible to provide an objective but accurate estimate to the extent of damage.

New source states 500000 BTC stolen: DailyTech. Uncited, though.

It is a guess though a pretty accurate number could be had if all of the pass-through published data and you added that to bitcoinmax and gpumax.

You do have to figure that the interest is not real though. If you deposited 100 BTC in the beginning and it compounded to 300 BTC it should be counted as 100 BTC.    Pirate may have lied to you , but he did not take 300 BTC. 
I prefer to stay away from reconstructions expect as a last resort. Do any Pirate insiders have a more accurate number?

If none of these numbers are available, interest can be estimated by estimating growth, which can be inferred from GLBSE passthrough volumes.
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August 29, 2012, 02:05:49 AM
 #67

he actually "stole" much less than 500,00 BTC.
Could you please elaborate? I am trying to collect as many sources as possible to provide an objective but accurate estimate to the extent of damage.

New source states 500000 BTC stolen: DailyTech. Uncited, though.

Ah, found the citation (it was from the Verge, which cited Maged's post containing Pirate's own words). This thread, if anyone is curious.
In a ponzi scheme, investors are paid out with other investors money.  The operator never has enough money to cover everyone withdrawing at once.  So while there is BTC500k on paper, much fewer real coins exist if in fact pirate was running a ponzi.  

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August 29, 2012, 02:08:31 AM
 #68

Basically, the investors had built their accounts up to over 500,000 BTC collectively via compound interest, so they feel like they lost more bitcoins than they actually had. Those bitcoins never existed. Only the principle deposited and whatever pirate made from his market shenanigans were available to the fund.
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August 29, 2012, 02:09:10 AM
 #69

I think nanotube has access to all account information? maybe I'm wrong.
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August 29, 2012, 02:19:31 AM
 #70

Basically, the investors had built their accounts up to over 500,000 BTC collectively via compound interest, so they feel like they lost more bitcoins than they actually had. Those bitcoins never existed. Only the principle deposited and whatever pirate made from his market shenanigans were available to the fund.
Okay, I understand what you are saying. Before I doze off (it's late here!), I will publish my thoughts on a ballpark guess (not an estimate, just wild speculation).

Let T be 500000 BTC (the total amount in the fund), I be the total interest credited. As the scheme was not 500000 BTC from the start, there must have been a growth. Assume that growth started April at 10000 BTC. This works out to 25% growth in the scheme per week, which is reasonable. The geometric sequence based on this growth extrapolates to 140000 BTC interest, which we can round up to 150000 BTC. This is reasonable, and implies the total amount stolen is near 350000 BTC.
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August 29, 2012, 04:56:07 PM
 #71

That's probably a good ballpark. I think over the next few weeks we will have a lot more details on the deposit specifics.
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August 30, 2012, 11:57:54 PM
 #72

Update! Some accounts have been repaid. Looks like calling the default was uncalled for.
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August 31, 2012, 08:46:27 AM
 #73

Update! Some accounts have been repaid. Looks like calling the default was uncalled for.

No proof of that unfortunately.
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August 31, 2012, 12:42:04 PM
 #74

Update! Some accounts have been repaid. Looks like calling the default was uncalled for.

Also, it doesn't matter if tomorrow he pays back every last bitcent.  It will still have been the case that he was in default.

When I use the word "higher" in a sentence I actually mean lower.
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September 02, 2012, 11:29:53 AM
 #75

Basically, the investors had built their accounts up to over 500,000 BTC collectively via compound interest, so they feel like they lost more bitcoins than they actually had. Those bitcoins never existed. Only the principle deposited and whatever pirate made from his market shenanigans were available to the fund.
This is assuming that Pirate isn't understating the total paper value of everyone's balances at BTCS&T. Some have theorized that the paper loss is much higher than that and that just the actual principle lost alone could reach 500,000 BTC. Maged seems to reckon based on blockchain analysis that Pirate alone made off with about 200,000 BTC from this, not counting the money paid out as interest, though sadly he doesn't seem to be able to publish details of that analysis.

Quad XC6SLX150 Board: 860 MHash/s or so.
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September 02, 2012, 02:12:40 PM
 #76

Basically, the investors had built their accounts up to over 500,000 BTC collectively via compound interest, so they feel like they lost more bitcoins than they actually had. Those bitcoins never existed. Only the principle deposited and whatever pirate made from his market shenanigans were available to the fund.
This is assuming that Pirate isn't understating the total paper value of everyone's balances at BTCS&T. Some have theorized that the paper loss is much higher than that and that just the actual principle lost alone could reach 500,000 BTC. Maged seems to reckon based on blockchain analysis that Pirate alone made off with about 200,000 BTC from this, not counting the money paid out as interest, though sadly he doesn't seem to be able to publish details of that analysis.
200000 BTC is an even lower estimate than 350000 BTC I gave, but I figure also more accurate. If worse goes to worst, then that is the figure I may preliminarily use.
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September 04, 2012, 07:51:02 PM
 #77

Keeping up with this list is getting to be a full time job lately.

(bitfloor coin theft details)
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September 04, 2012, 09:28:29 PM
 #78

Keeping up with this list is getting to be a full time job lately.

(bitfloor coin theft details)
Thank you.

New theft: Bitfloor. Ranks #5 (preliminary, not including Pirate).
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September 05, 2012, 01:14:36 AM
 #79

New theft: Bitfloor. Ranks #5 (preliminary, not including Pirate).

A quarter million dollars worth of funds gone and it only ranks fifth?

Incidentally, the list ordered by USD is missing a few ..., this BitFloor event and also the Linode (Bitcoina, Slush and Faucet), Bitcionica (May) and Bitcoinica (June) events.
 - http://bitcointalk.org/index.php?topic=83794.0#post_sect_listby_usd

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September 05, 2012, 07:52:34 PM
 #80

New theft: Bitfloor. Ranks #5 (preliminary, not including Pirate).

A quarter million dollars worth of funds gone and it only ranks fifth?

Incidentally, the list ordered by USD is missing a few ..., this BitFloor event and also the Linode (Bitcoina, Slush and Faucet), Bitcionica (May) and Bitcoinica (June) events.
 - http://bitcointalk.org/index.php?topic=83794.0#post_sect_listby_usd
The USD list is missing a lot, most of them. I will fix that.

On a related note, this thread has just gotten slashdotted or something, because it jumped from ~5000 views to ~8000.
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September 05, 2012, 07:59:23 PM
 #81

thanks for keeping this list up to date. very good to have this info compiled here.
do you have a donation addr?
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September 05, 2012, 08:38:38 PM
 #82

thanks for keeping this list up to date. very good to have this info compiled here.
do you have a donation addr?
I will accept donations at 1MLSW1nmYkHqaHWNNkHSAHct6exd8fYYLX. Thanks!
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September 05, 2012, 11:44:20 PM
 #83

200000 BTC is an even lower estimate than 350000 BTC I gave, but I figure also more accurate. If worse goes to worst, then that is the figure I may preliminarily use.
Well, that estimate's going to be quite a bit lower than the actual total loss because it's based on the assumption that pirateat40 was paying out interest using other investors' deposits. So on top of that 200000 BTC loss, investors will also have lost some of their initial principle in the form of profits gained by other investors.

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September 06, 2012, 02:32:46 AM
 #84

wait, so what % of the total bitcoin has actually been stolen? :-)
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September 06, 2012, 12:01:21 PM
 #85

wait, so what % of the total bitcoin has actually been stolen? :-)
This is nearly impossible to know because most BTC has been stolen not once, but many, many times.
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September 10, 2012, 08:54:01 PM
 #86

wait, so what % of the total bitcoin has actually been stolen? :-)
This is nearly impossible to know because most BTC has been stolen not once, but many, many times.


Understood, but some (wide) estimate would still be useful. We can probably assume that a good deal of stolen coins were cleaned and then hoarded or converted to fiat, and thus not subject to resteal.

I think it's important to have some sense of the total # of coins likely still in the hands of scammers and thieves. The idea of bitcoin becoming increasingly value when such people own a significant percentage of all coin is quite distasteful. I think I could live with 5% of all bitcoins in such individuals' hands. Over 10% and I start to consider that a huge negative in the economy.

(edit: just shipped you a tiny donation....appreciate the comprehensive list)

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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September 10, 2012, 09:04:05 PM
 #87

wait, so what % of the total bitcoin has actually been stolen? :-)
This is nearly impossible to know because most BTC has been stolen not once, but many, many times.


Understood, but some (wide) estimate would still be useful. We can probably assume that a good deal of stolen coins were cleaned and then hoarded or converted to fiat, and thus not subject to resteal.

I think it's important to have some sense of the total # of coins likely still in the hands of scammers and thieves. The idea of bitcoin becoming increasingly value when such people own a significant percentage of all coin is quite distasteful. I think I could live with 5% of all bitcoins in such individuals' hands. Over 10% and I start to consider that a huge negative in the economy.

(edit: just shipped you a tiny donation....appreciate the comprehensive list)
Around 300000 BTC have been stolen in total (the list lists much less than that, but many thefts are undocumented/unknown). If Pirate is included, this number increases to 500000 BTC, which is your 5%.

Thanks for the donation!
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September 10, 2012, 09:05:41 PM
 #88

May want to add a total to all thefts in your OP.

This may be an interesting indicator as to what amount of bitcoins are in the hands of the rest of the community.

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September 10, 2012, 09:09:54 PM
 #89

May want to add a total to all thefts in your OP.

This may be an interesting indicator as to what amount of bitcoins are in the hands of the rest of the community.
Theft bitcoins are, for the most part, in the hands of the rest of the community. The coins from the largest thefts have been redistributed. Look in your wallet, and you will find MyBitcoin coins, allinvain coins, Linode coins, and probably BS&T coins as well by now. While it's true that Mt. Gox has frozen some funds, the amount is insignificant.

This is not to claim that tainting is not an issue, but it is true that it is no longer feasible to assign special status to robbers.
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September 11, 2012, 12:01:39 PM
 #90

Please at the 80,000BTC Matthew N Wright scam.

Thanks.
Similar to the method in which I am treating Pirate, thefts of vapour-Bitcoins cannot be included.
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September 11, 2012, 08:47:35 PM
 #91

You might want to add the Long-Term Offers forum to your list at some point by the way. Yes, all of it - pretty much every scheme in there has now failed, defaulted or otherwise imploded.

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September 20, 2012, 06:05:50 PM
 #92

Excellent list. Thank you!

I have a proposal on how to try to stop bitcoin thieves after the fact. https://bitcointalk.org/index.php?topic=110749.0 Please discuss / give input there.

I know the proposal is not new in principle. If we want to implement it or something like it, we need to get the community talking about it and asking for it.

Thanks.
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September 20, 2012, 06:08:03 PM
 #93

This is not to claim that tainting is not an issue, but it is true that it is no longer feasible to assign special status to robbers.

After some time has passed, you are right. But let's be ready for the next theft and act quickly. See my post here: https://bitcointalk.org/index.php?topic=110749.0
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September 20, 2012, 10:05:16 PM
 #94

I have a plan for improving this list in the near future. First, I have to sort out the BS&T mess and the Kronos.io hack (which, by the way, I still do not have a date for). After that, I should begin some systematic reanalysis of each theft to revise the estimates into better ones if possible. To aid this, I am planning on an accuracy scale for the estimates:

Scale CategoryDefinition
Level 0Exact amount given by official source, third involved party, or blockchain analysis; almost universally accepted. Appropriate references must be included:
  • One reference from an official source, third involved party, or blockchain analyst revealing the approximate amount.
  • One reference from that source, could be the same as the previous, mentioning the exactness of the amount.
  • If the source is a blockchain analyst, two additional reference from a third party confirming the blockchain analysis.
Depending on the reliability of the main source, a third party confirmation could be required. This can be one reference from another type of source, types given below, that outlines a value confirming or supporting the main source.
  • Official source
  • Third involved party
  • Blockchain analyst
Level 1An approximate amount obtained from official source, third party, or blockchain analysis. Amount should not be, within a reasonable doubt, off by over 5%. The following references must be given:
  • One reference from an official source, third party, or blockchain analyst revealing the approximate amount.
  • One reference from that source, could be the same as the previous, mentioning the level of error expected should be low.
  • If the source is a blockchain analyst, one additional reference from a third party confirming the blockchain analysis.
Level 2Both a lower bound and an upper bound obtained from official source, third party, blockchain analysis, or my personal analysis. The upper and lower bounds should be, within a reasonable doubt, absolute. The upper bound should not be more than three times the lower bound. The following references should be given for each bound, unless it is determined through personal analysis, in which the appropriate references backing the personal analysis must be given:
  • One reference from an official source, third party, or blockchain analyst revealing the bound.
  • One reference from that source, could be the same as the previous, mentioning the absoluteness of the bound.
  • If the source is a blockchain analyst, one additional reference from a third party confirming the blockchain analysis.
Level 3Only an estimate is obtained from the official source, third party, blockchain analysis, the media, or my personal analysis. Up to one absolute bound is known, but not two. The upper bound should not be more than three times the estimate, or the estimate should not be more than three times the lower bound, if a bound is known. The following references should be given for the estimate, unless it is determined through personal analysis, in which the appropriate references backing the personal analysis must be given:
  • One reference from an official source, third party, blockchain analyst, or media source revealing the estimate.
  • If the source is a blockchain analyst, one additional reference from a third party confirming the blockchain analysis.
If an absolute bound is known:
  • One reference from an official source, third party, blockchain analyst, or media source revealing the bound.
  • One reference from that source, could be the same as the previous, mentioning the absoluteness of the bound.
  • If the source is a blockchain analyst, one additional reference from a third party confirming the blockchain analysis.
Level 4No reliable estimate is known, so one is calculated through a third party or personal analysis. Up to two bounds are known, but they may be far apart. No references are required, however, methodology should be present if no references are included.

Thoughts?
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September 27, 2012, 04:02:53 PM
Last edit: December 01, 2013, 05:46:49 PM by malevolent
 #95



~Andrew Nolan Scam
Time: February 2012
Victim: Investors of Shades Minoco, creditors of bitcointalk.org user "shakaru", investors of BitArb
Status: Andrew Nolan (thief) known but disappeared, repaid some (not included in amount)
Amount: Lower bound 2211.07786728 BTC, possibly more
Equivalent USD: 10978 $ (wt. avg price, rounded to nearest $)


It is a small detail but I think it is important because Google indexes it: his last name is actually Nollan.

One of his emails that I know of (he uses/used it for Paypal) is andrew.nollan@gmail.com

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September 27, 2012, 11:20:32 PM
 #96



~Andrew Nolan Scam
Time: February 2012
Victim: Investors of Shades Minoco, creditors of bitcointalk.org user "shakaru", investors of BitArb
Status: Andrew Nolan (thief) known but disappeared, repaid some (not included in amount)
Amount: Lower bound 2211.07786728 BTC, possibly more
Equivalent USD: 10978 $ (wt. avg price, rounded to nearest $)


It is a small detail but I think it is important because Google indexes it: his last name is actually Nollan.

One of his email that I know of (he uses/used it for Paypal) is andrew.nollan@gmail.com

Done.
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September 27, 2012, 11:23:54 PM
 #97

Add GLBSE. Closed down issues because of dislike of issuer. Now BTC and shares are lost to holders.

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October 03, 2012, 06:52:44 PM
 #98

Possibly JRO and his two great vapour-ware assets Rebate and ZIP.A could be included.
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December 12, 2012, 04:12:17 AM
 #99

Here's a self-report of a loss from the massive Reddit thread. It wasn't substantial then, but is now. http://www.reddit.com/r/videos/comments/14nwsx/what_is_bitcoin/c7f7g0v


EDIT: Just re-read the first post, and though this wouldn't qualify for inclusion based on the year and severity, it's still good to include it in this thread for safekeeping!   Wink
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December 24, 2012, 06:03:56 AM
Last edit: December 25, 2012, 11:49:04 PM by Stephen Gornick
 #100

Add BitMarket.eu to the list.  From another thread:

Earlier this year, I had this "genius" idea which led me to making a fatal mistake. I thought I could provide a hedge fund service for Bitmarket users.
[...]
For the record - there are 20161 19980 BTC missing
  [Edit: Fixed the link to the quote.]

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December 24, 2012, 05:46:48 PM
 #101

Add BitMarket.eu to the list.  From another thread:

Earlier this year, I had this "genius" idea which led me to making a fatal mistake. I thought I could provide a hedge fund service for Bitmarket users.
[...]
For the record - there are 20161 19980 BTC missing
Will do. I'm a bit busy right now, and there are a few more to catch up on, but this seems like a huge mistake so it will be prioritized.
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December 25, 2012, 11:44:15 PM
 #102

I do wish people would get the quoting right on that; those are M4v3R's words, not mine.

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December 26, 2012, 03:40:11 PM
 #103

Apologies for how long it's taking, Christmas holiday was yesterday where I live. I will catch up shortly.
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December 26, 2012, 06:51:23 PM
 #104

Apologies for how long it's taking, Christmas holiday was yesterday where I live. I will catch up shortly.

Take your time  Wink

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December 26, 2012, 11:51:18 PM
 #105

So I'm a bit confused here: did the theft happen at the time of Bitcoinica's shutdown? If it did, why wasn't it discovered earlier? You would assume that given Bitcoinica shut down after the Rackspace hack, the lack of funds to withdraw from would be obvious.
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December 26, 2012, 11:58:53 PM
 #106

So I'm a bit confused here: did the theft happen at the time of Bitcoinica's shutdown? If it did, why wasn't it discovered earlier? You would assume that given Bitcoinica shut down after the Rackspace hack, the lack of funds to withdraw from would be obvious.

AFAIK it was discovered only after people requested more money to withdraw than bitmarket had. Some people may have kept their BTC on the exchange for many months before and after hacks and admin's gambling. After the Bitcoinica hacks the balance was only fictitious but no one knew about it so as long as more BTC being was deposited than withdrawn.

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January 05, 2013, 11:28:24 PM
 #107

2013 has arrived, and we're off to a clean start thus far. The last theft (aside from the December revelation, which was actually a May theft) was an almost 10000 BTC theft in late September, so we have had a quarter of a year without terribly bad news.

With every new year, the cutoff value for significant thefts changes. While the total bitcoins in circulation has increased since 2012, there is little reason to increase this cutoff value based on this result alone. Although an increase would not be ill-advised (after all, the Bitscalper scam last year has already faded into obscurity), I feel that ignoring potentially devastating thefts based on an arbitrary number is ill-advised. As a result, I am preliminarily keeping the cutoff at 1000 BTC, which has served quite well the previous two years.

Ideas?
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January 06, 2013, 09:39:08 PM
 #108

Just some Fun Facts for you all...

BTC-e is founded by 2 men who stood trial for 17 counts of fraud.
BTC-e has relations with mafia organizations all over the world.
BTC-e has been known to close accounts and hold people's funds indefinately.
BTC-e has known to lie about the security of their site claiming it's more secure then it actually is.
BTC-e conducts insider trading constantly and trades funds that do not belong to them ie funds from closed accounts that they then spend.
BTC-e is not registered at all in Russia and all the American Servers the site is hosted on require them to abide by US law which they do not do.
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January 18, 2013, 01:05:07 PM
 #109

2013 has arrived, and we're off to a clean start thus far.

Well, that hadn't lasted long.

We sadly need to announce that our wallet has been compromised thus DO NOT send any further funds to any of the coin wallets, BTC, DVC, LTC, etc.

Though losses were absorbed by the exchange:

Before the wild speculations beginn, the service will be recovered and we pay the losses out of our own pockets.

But the severity hasn't yet been disclosed:

We'll post all the infos after we have done our investigation, the TRX IDs, IPs, Bitcoin address, etc. May it be of help to the other service providers out there.



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January 18, 2013, 03:43:36 PM
 #110

Thanks for the comprehensive list.

Might want to include hacker caught / law enforcement involved category.

I wanted to do a list like this myself but never had the time.

Can you also maybe do a total of how many BTC have been "stolen" / "lost" / "tainted" / "scammed" !

Scammer... Pathetic
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January 18, 2013, 05:01:21 PM
 #111

Just some Fun Facts for you all...

BTC-e is founded by 2 men who stood trial for 17 counts of fraud.
BTC-e has relations with mafia organizations all over the world.
BTC-e has been known to close accounts and hold people's funds indefinately.
BTC-e has known to lie about the security of their site claiming it's more secure then it actually is.
BTC-e conducts insider trading constantly and trades funds that do not belong to them ie funds from closed accounts that they then spend.
BTC-e is not registered at all in Russia and all the American Servers the site is hosted on require them to abide by US law which they do not do.

Source? for the people who own BTC-e?
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January 19, 2013, 05:24:13 AM
 #112

Its shocking to see just how much money has been scammed off Bitcoin users in its short lifetime.
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January 19, 2013, 05:25:24 AM
 #113

Its shocking to see just how much money has been scammed off Bitcoin users in its short lifetime.

I was just saying the same thing to myself  Embarrassed


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January 19, 2013, 05:42:21 AM
 #114

Its shocking to see just how much money has been scammed off Bitcoin users in its short lifetime.

I was just saying the same thing to myself  Embarrassed

Why is this such a shock? The global GDP in 2003 was some 70 trillion USD. [Source] Global Cybercrime alone cost the economy 336 billion dollars. [Source] That's about 0.5% of of world GDP. Considering bitcoin is a new experiment with growing pains, and bitcoin transactions are irreversible, (often no way to fix mistakes, pseudo-anonymity, poor government/law enforcement support) it may be argued that fraud and theft losses should naturally be higher.
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January 19, 2013, 08:33:55 AM
 #115

Its shocking to see just how much money has been scammed off Bitcoin users in its short lifetime.

I was just saying the same thing to myself  Embarrassed

Why is this such a shock? The global GDP in 2003 was some 70 trillion USD. [Source] Global Cybercrime alone cost the economy 336 billion dollars. [Source] That's about 0.5% of of world GDP. Considering bitcoin is a new experiment with growing pains, and bitcoin transactions are irreversible, (often no way to fix mistakes, pseudo-anonymity, poor government/law enforcement support) it may be argued that fraud and theft losses should naturally be higher.

Indeed. Anyone claiming BTC fraud is significant has not really any clue about what happens in the fiat world.

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January 19, 2013, 09:23:44 AM
 #116

Wasn't ASICs the huge thing coming out in December, what happened to all that? Another scam to be revealed in the near future...?

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January 22, 2013, 10:50:44 PM
 #117

Apparently a nasty trojan went around in 2012. I've added that to the list, ranking 15th.

@Vircurex: any evidence amount stolen > 1000 BTC?
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February 08, 2013, 09:27:40 PM
 #118

So:

Looks like I forgot about the MyBitcoin mass withdrawals following the Mt. Gox theft. Coins were all funnelled to 1MAazCWMydsQB5ynYXqSGQDjNQMN3HFmEu, it seems. This is now added.

I also bumped Pirate down to first (it stood awkwardly at zeroth before).
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February 10, 2013, 06:37:09 PM
 #119

May as well add the bASIC to this list, I got scammed out of roughly ~230 BTC which is a big chunk of money for me, especially since BTC value has doubled since I placed the order.
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March 05, 2013, 03:33:53 PM
 #120

BitLC.net
Feb 13, 2013

Quote
Currently I have no other option but to come clean about everything,
- https://www.bitlc.net

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March 05, 2013, 03:39:29 PM
 #121

FXBTC.com (exchange in China):

Quote
I think it should be reported to the police, and severely punish these criminals
[Google Translate]

 - http://www.btcbbs.com/forum.php?mod=viewthread&tid=227

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March 05, 2013, 09:01:03 PM
 #122

FXBTC.com (exchange in China):

Quote
I think it should be reported to the police, and severely punish these criminals
[Google Translate]

 - http://www.btcbbs.com/forum.php?mod=viewthread&tid=227

Nice find, but the 200 BTC estimate does not meet the barrier.

coinabul.com stole 80 plus btc.

https://bitcointalk.org/index.php?topic=149253.0

Thanks for reporting, but the amount is too small. The list would become worthless if these small-scale scams were included.

BitLC.net
Feb 13, 2013

Quote
Currently I have no other option but to come clean about everything,
- https://www.bitlc.net

Good call. I'll put this down with a 2000 BTC estimate.
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March 05, 2013, 09:33:37 PM
 #123

And the hits keep on coming!

Quote
By doing this, he locked out both my login and Gareths's login and they used this to hijack our emails and reset the login for one exchange (VirWox), enabling them to gain access and steal $12,480 USD worth of BTC.
- http://blog.bitinstant.com/blog/2013/3/4/events-of-friday-bitinstant-back-online.html


Nice find, but the 200 BTC estimate does not meet the barrier.

Losses of $8K USD are immaterial?  I suppose "Major" means something different nowadays.   Does BitInstant's $12K loss even qualify then?



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March 05, 2013, 09:40:16 PM
 #124

And the hits keep on coming!

Quote
By doing this, he locked out both my login and Gareths's login and they used this to hijack our emails and reset the login for one exchange (VirWox), enabling them to gain access and steal $12,480 USD worth of BTC.
- http://blog.bitinstant.com/blog/2013/3/4/events-of-friday-bitinstant-back-online.html


Nice find, but the 200 BTC estimate does not meet the barrier.

Losses of $8K USD are immaterial?  I suppose "Major" means something different nowadays.   Does BitInstant's $12K loss even qualify then?



Ubitex, Andrew Nollan, the Mt. Gox gaffé, and Bitscalper were technically all smaller, so I wouldn't say $12K is "immaterial". However, I risk saturating the list if I add too many of these smaller-scale thefts. What I'll do for now is hide these 4 thefts from the severity listing, and maintain the current 1000 BTC cutoff (which I hope to replace with a USD cutoff sometime in the future.
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March 06, 2013, 03:57:06 AM
 #125

I agree. While painful 333 BTC is only symbolic, compareed to the total business of Bitinstant. i wish them best luck in securing their site further and possibly prosecuting the thief.
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March 06, 2013, 07:52:40 AM
 #126

I was just thinking about Pirate and his 500K BTC at $46..........*sigh*

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March 06, 2013, 08:45:41 AM
 #127

I was just thinking about Pirate and his 500K BTC at $46..........*sigh*

If he actually has any reasonable size of coins left he could sell today and pay everybody back at the dollar value of btc  when he shut down.  I'm sure everyone would take that with open arms and get off his case....

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March 12, 2013, 04:19:03 AM
Last edit: April 01, 2013, 07:18:51 PM by dree12
 #128

Please stand by.

There was a past event yesterday that may be added to the list. The recent chain fork has not only affected miner revenue, but may also have caused double-spending attacks.

Mining cost: 748.18715667 BTC
Double-spend:
  • OKPay: 211.9093 BTC
Preliminary total: 960.09645667 BTC

Final update: No other double-spend attacks have been reported. The event therefore does not qualify for inclusion.
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March 18, 2013, 01:25:54 PM
 #129

Shouldn't TORWallet be on this list?
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March 18, 2013, 01:39:59 PM
 #130

Please stand by.

There was a past event yesterday that may be added to the list. The recent chain fork has not only affected miner revenue, but may also have caused double-spending attacks.

Mining cost: 748.18715667 BTC
Double-spend:
  • OKPay: 211.9093 BTC
Preliminary total: 960.09645667 BTC

There was a discussion on IRC and on these forums regarding if the fork made double spending possible and I was refuted and plainly lost the argument. No the fork did not enable the possibility of a double spend

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March 18, 2013, 07:36:29 PM
 #131

There was a discussion on IRC and on these forums regarding if the fork made double spending possible and I was refuted and plainly lost the argument. No the fork did not enable the possibility of a double spend

It most certainly did.  The OKPay double spend was an intentional double spend (performed by manually constructing and broadcasting a transaction that re-spent previously spent funds) and was successful due to a combination of factors.

There still are even more double spends that can be performed (as they are still unconfirmed and not yet spent) but simply haven't (yet):

There are several transactions that were confirmed in the major fork a few days ago but have not confirmed in the new chain for some reason. Normally these transactions would be pruned however since they are already included in an orphaned block they cannot be removed, this is unusual and I'm not sure why they are not confirming. I have rebroadcasted them several times but it doesn't seem to have helped, the best course of action would be to double spend them with another client.

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April 01, 2013, 07:17:42 PM
Last edit: April 01, 2013, 09:41:49 PM by dree12
 #132

Bitcoin Central & Instawallet security breach. More info.

Instawallet and Bitcoin Central are currently down. They are reporting a security breach. Below are a link to BitcoinTalk threads covering this event:

Update:
Bitcoin Central has released a statement claiming all funds are under their exclusive control.

Transactions of interest: see 1LrPYjto3hsLzWJNstghuwdrQXB96KbrCy
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April 10, 2013, 10:48:29 PM
 #133

I have been speculating over the list for quite some time, this should be mandatory to read for every bitcoin website owner as the barriers are quite low these days.
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May 06, 2013, 11:13:11 PM
 #134

I had 160 coins stolen recently.  I posted the details on reddit: http://www.reddit.com/r/Bitcoin/comments/1czrua/just_lost_160_btc_from_address_managed_with/

The thieving transaction was https://blockchain.info/tx/5abb271eb6e2d0da1855b06282c84dcf7467dda9da6da9090cad10ddae957fc7

Approximate value at the time of theft: $22000

The coins began moving roughly a day later.  I'm presuming they were laundered through a mixing service though I haven't done an analysis or attempted to trace them.  https://blockchain.info/tx/c751475e90f0747295794fdfa4aad8556dda24f3b50b932322fd25422c6cf507
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May 06, 2013, 11:24:47 PM
 #135

Thanks for compiling this list, has been quite an interesting read. By far the most peculiar scam I've seen however has been pirate's ponzi scheme. The fact that someone managed to scam 5% of bitcoins in circulation and crash the market is jaw dropping. Also it is crazy to look back and see all the people who supported/defended him back then.

I remember a good real life friend of mine was telling me about pirate before he scammed everyone and wanted to invest all his money with the guy. I was a non-bitcoiner then and to me it just sounded like the most obvious ponzi scheme, so I will never understand how people fell for it to such a great extent.

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June 03, 2013, 12:40:00 PM
Last edit: June 03, 2013, 03:50:58 PM by kcirazy
 #136

My current view is that Bitcoin is and will forever be public property and anybody who is able to make the transfers (by being in possession of the private keys) is allowed to do so.
Unless you scam people in making transactions while making false promises or you break the law while obtaining the private keys, I don't think there is any legal system protecting someone against you transfering all the bitcoin to another address. Which effectively makes it legal to take any bitcoins you want as long as you are able.

The only way I see around this is having an international institution like the U.N. attaching your name to a private key.

Is there anybody who can provide a source for a single conviction or legal action against a person that comitted a Bitcoin "heist" or "theft" (not "scam")?
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June 03, 2013, 01:57:58 PM
 #137

My current view is that Bitcoin is and will forever been public property and anybody who is able to make the transfers (by being in possession of the private keys) is allowed to do so.
Unless you scam people in making transactions while making false promises or you break the law while obtaining the private keys, I don't think there is any legal system protecting you against somebody else tranfering all the bitcoin to another address. Which effectively makes it legal to take any bitcoins you want as long as you are able.

The only way I see around this is having an international institution like the U.N. attaching your name to a private key.

Is there anybody who can provide a source for a single conviction or legal action against a person that comitted a Bitcoin "heist" or "theft" (not "scam")?

Uhm..
"If someone has your private key or your Bitcoins, and didn't do anything illegal, it' not illegal".
Wut?

An example would help me here..

I don't see where Bitcoin is any different to money or apples. I am not allowed to steal neither of them.

Ente
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June 03, 2013, 02:01:10 PM
 #138

Man so many unfortunate events. So much Bitcoin my brain can't comprehend.

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June 03, 2013, 02:05:10 PM
 #139

I don't see where Bitcoin is any different to money or apples. I am not allowed to steal neither of them.
It's impossible to steal information, only to copy it.
Unless you take away one's ability to access that information, I can't see it as stealing.
Bitcoins are public information, because they are stored on the blockchain.
Maybe you want to protect private keys with intellectual property laws, but that would require some kind of proof that you were the only one to have access to them in the first place.
I don't see any other way to make "bitcoin theft" illegal.
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June 03, 2013, 02:10:39 PM
 #140

Thanks for putting this together. It is a great reference.

ACCOUNT RECOVERED 4/27/2020. Account was previously hacked sometime in 2017. Posts between 12/31/2016 and 4/27/2020 are NOT LEGITIMATE.
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June 03, 2013, 02:15:21 PM
 #141

Quote
It's impossible to steal information, only to copy it.
Unless you take away one's ability to access that information, I can't see it as stealing.
Bitcoins are public information, because they are stored on the blockchain.
Maybe you want to protect private keys with intellectual property laws, but that would require some kind of proof that you were the only one to have access to them in the first place.
I don't see any other way to make "bitcoin theft" illegal.
Sorry, but it's theft. If you take, spend, or block access to someone else's Bitcoins, it's theft. I believe a US Court would agree if you could bring a good case. Research common law.

ACCOUNT RECOVERED 4/27/2020. Account was previously hacked sometime in 2017. Posts between 12/31/2016 and 4/27/2020 are NOT LEGITIMATE.
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June 03, 2013, 02:16:33 PM
 #142

Not a single "thief caught" in all that list.

Sad

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June 03, 2013, 02:25:43 PM
 #143

I don't see where Bitcoin is any different to money or apples. I am not allowed to steal neither of them.
It's impossible to steal information, only to copy it.
Unless you take away one's ability to access that information, I can't see it as stealing.
Bitcoins are public information, because they are stored on the blockchain.
Maybe you want to protect private keys with intellectual property laws, but that would require some kind of proof that you were the only one to have access to them in the first place.
I don't see any other way to make "bitcoin theft" illegal.

Aah, I see where you are getting at!
Yes, makes sense.

Not sure if "sense" applies to laws, though ;-)

Ente
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June 03, 2013, 03:43:45 PM
 #144

... someone else's Bitcoins ...
Which court in which country is going to decide who is the rightful owner? Based on what evidence? And where should the "thief" be tried?
I'm sure that in common-law jurisdictions it can be considered stealing if the judges feel like it. That doesn't make it just according to other law-systems.
If you know how Bitcoin works technically, you can only come to the conclusion that it's not stealing because everybody already has full access to the entire blockchain.
Remember: There is no End-user license agreement on the blockchain. It's basically free to manipulate any way you can. People put their trust in math, not in protection by the legal system.
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July 23, 2013, 10:08:23 PM
 #145

Trendon Shavers caught, charged for Ponzi scheme.

See reference.

Updated status of Bitcoin Savings and Trust accordingly. Also updated upper bound from 500000 BTC to >700000 BTC. (I consider "upper bound" to mean 90% certainty, not 100% upper bound). Added lower bounds at 150649 BTC, 192852 BTC. (latter as the differences don't add up). Deleted the estimate, which is almost certainly too low. The new information seems to indicate that a lot of redistribution occurred—some profited greatly from the scheme, so Pirate's profits alone do not indicate the entire lost.
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July 24, 2013, 01:25:10 AM
 #146

way too many thefts! too many digital assholes

ok
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July 24, 2013, 09:21:35 PM
Last edit: July 24, 2013, 10:49:23 PM by dree12
 #147

OP undergoing restructuring

The OP previously used BBCode to do all its formatting. While this was acceptable when the list was small, it has now grown unwieldy. References were in 50 separate formats, hard spaces and regular spaces were intermixed, broken tags piled up on the bottom, etc.

Luckily, I just recently developed a new tool to compile a simpler markup to the unwieldy BBCode. This tool, BBC++, is a superset of BBCode that allows one to automatically generate tables of contents and reference lists. In addition, it has built-in features for representing Bitcoin quantities with a narrow hard space.

However, BBC++ does not automatically convert "old" code to new code. Some conversions are obvious. For example, all instances of "old quotes" have been converted to typographic quotes. However, some are harder to find. If you see any stray "old-style" references in the descriptions, please notify me.

Just-Dice.com Incident added

After some deliberation, I concluded that the Just-Dice.com Incident met the definition of "major theft", as over dooglus suffered damages of over 1000 BTC, albeit temporarily. Consequently, the Just-Dice.com Incident has been added as the 9th largest theft when measured by USD.
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July 27, 2013, 07:49:42 PM
 #148

There have been way more than I expected...

Nothing to say.
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July 28, 2013, 05:25:55 AM
 #149

I was caught in a couple of these scams. Seeing them all together in one place is frightening. The amount of funds stolen in Bitcoin has to be proportionally larger than the combined thefts in any world currency. It has to be like 5-7% of all Bitcoins in existence have been stolen. It makes Bitcoin look like just a mind-boggling perverse stream of thefts since its inception.

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July 28, 2013, 02:12:11 PM
 #150

I was caught in a couple of these scams. Seeing them all together in one place is frightening. The amount of funds stolen in Bitcoin has to be proportionally larger than the combined thefts in any world currency. It has to be like 5-7% of all Bitcoins in existence have been stolen. It makes Bitcoin look like just a mind-boggling perverse stream of thefts since its inception.

The reason is simple: we're not prepared. The digital world is relatively new to us all. But few of us worked in online banking. Few of us gave background checks for securities or traded penny stocks. The ones that did were drowned out.

The fact is: Bitcoin is not special. Just because someone deals with Bitcoin doesn't mean they can write a website in a week (Bitcoinica), give 7% interest per week (Pirate), or hash passwords with MD5 (Mt. Gox). Until the community realizes that this is still the real world, that work is needed to make a successful company, that "too good to be true" implies untruth, that backups need to be made on many media, that Murphy's law applies more often than not, and that security audits are all too important, this will keep happening. Luckily, we are learning.
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August 18, 2013, 12:39:16 AM
 #151

Great list!
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August 18, 2013, 12:44:32 AM
 #152

I was caught in a couple of these scams. Seeing them all together in one place is frightening. The amount of funds stolen in Bitcoin has to be proportionally larger than the combined thefts in any world currency. It has to be like 5-7% of all Bitcoins in existence have been stolen. It makes Bitcoin look like just a mind-boggling perverse stream of thefts since its inception.

Point taken. But the nice thing is, it doesn't matter even if 90% are stolen. Bitcoin would still be usable. Furthermore, much of the stolen btc may well be put back into circulation at *some* point.
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August 18, 2013, 01:49:38 AM
 #153

I was caught in a couple of these scams. Seeing them all together in one place is frightening. The amount of funds stolen in Bitcoin has to be proportionally larger than the combined thefts in any world currency. It has to be like 5-7% of all Bitcoins in existence have been stolen. It makes Bitcoin look like just a mind-boggling perverse stream of thefts since its inception.

How much gold was robbed, taken, seized or lost in 5000 years of history? How many cultures were dizimated?

Since the 1900s the U.S. Dollar has lost 90% of its value through inflation, some people believe this is theft, also.
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August 18, 2013, 02:02:25 AM
 #154

Most these bitcoins not gone and will  as eventually re-enter circulation once being laundered.  Bitcoins will become safer with time as the technologies surrounding it improve.
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August 18, 2013, 09:34:19 AM
 #155

Bitcoin Central & Instawallet security breach. More info.
Just so you know, your "more info" link points to a .com site while bitcoin-central is .net.

Also, since you were very prompt to include me (I am a co-founder of Paymium) under your strange "hacks , scams" title (banks are hacked all the time unbeknownst to you yet you do not call them a scam), it would only be honest to report the refund operations for instawallet and bitcoin-central.

You can find a handful of peole moaning on the forum but you will not find the hundreds that got their money back..
Transparency is good as long as positive information is not filtered out to leave room only for the bad press.

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August 18, 2013, 01:55:03 PM
 #156

Bitcoin Central & Instawallet security breach. More info.
Just so you know, your "more info" link points to a .com site while bitcoin-central is .net.

Also, since you were very prompt to include me (I am a co-founder of Paymium) under your strange "hacks , scams" title (banks are hacked all the time unbeknownst to you yet you do not call them a scam), it would only be honest to report the refund operations for instawallet and bitcoin-central.

You can find a handful of peole moaning on the forum but you will not find the hundreds that got their money back..
Transparency is good as long as positive information is not filtered out to leave room only for the bad press.

Can you calm down? That text is not in the OP; it is in one of the live updates that are preserved for history. When the instawallet breach was first reported, there was mass panic. After it turned out that the breach was not severe and no funds were lost, everything calmed down.

Also, the intent of this thread was stated right in the OP. I will give you the benefit of the doubt here and chalk the misconception up to English being a second language. This is purely an informational thread. There is no need to report the refund operations because no money was stolen.
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August 18, 2013, 01:57:08 PM
 #157

Bitcoin Central & Instawallet security breach. More info.
Just so you know, your "more info" link points to a .com site while bitcoin-central is .net.

Also, since you were very prompt to include me (I am a co-founder of Paymium) under your strange "hacks , scams" title (banks are hacked all the time unbeknownst to you yet you do not call them a scam), it would only be honest to report the refund operations for instawallet and bitcoin-central.

You can find a handful of peole moaning on the forum but you will not find the hundreds that got their money back..
Transparency is good as long as positive information is not filtered out to leave room only for the bad press.

Can you calm down? That text is not in the OP; it is in one of the live updates that are preserved for history. When the instawallet breach was first reported, there was mass panic. After it turned out that the breach was not severe and no funds were lost, everything calmed down.

What?

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August 18, 2013, 01:58:09 PM
 #158

Bitcoin Central & Instawallet security breach. More info.
Just so you know, your "more info" link points to a .com site while bitcoin-central is .net.

Also, since you were very prompt to include me (I am a co-founder of Paymium) under your strange "hacks , scams" title (banks are hacked all the time unbeknownst to you yet you do not call them a scam), it would only be honest to report the refund operations for instawallet and bitcoin-central.

You can find a handful of peole moaning on the forum but you will not find the hundreds that got their money back..
Transparency is good as long as positive information is not filtered out to leave room only for the bad press.

Can you calm down? That text is not in the OP; it is in one of the live updates that are preserved for history. When the instawallet breach was first reported, there was mass panic. After it turned out that the breach was not severe and no funds were lost, everything calmed down.

What?

The quote from Boussac isn't even in the OP. He's complaining about something that's not there.
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August 21, 2013, 09:55:57 AM
 #159

It is a great reference!
Thanks for keeping this list up to date...

 Wink
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August 21, 2013, 09:59:17 AM
 #160

I would add Patrick Harnett ponzi to the list of thefts and schemes.

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September 06, 2013, 01:50:10 PM
 #161

Can you calm down?

In am very calmly telling you that your highlighting in red the headline is only aggravating the situation.
If no money was stolen why is it that you are listing our site under this calomnious thread title ?
If there was "mass panic" acccording to you, why would you add to the panic by listing us under the thread ?
Anyway your thread is bliss for our competitors (by that I mean mostly banksters).

This is purely an informational thread.
No. This is truncated information amounting to libel. As an amateur journalist, you should check the "press" thread to read more professionnel versions of the same shit.

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September 06, 2013, 07:35:58 PM
 #162

Can you calm down?

In am very calmly telling you that your highlighting in red the headline is only aggravating the situation.
If no money was stolen why is it that you are listing our site under this calomnious thread title ?
If there was "mass panic" acccording to you, why would you add to the panic by listing us under the thread ?
Anyway your thread is bliss for our competitors (by that I mean mostly banksters).

This is purely an informational thread.
No. This is truncated information amounting to libel. As an amateur journalist, you should check the "press" thread to read more professionnel versions of the same shit.

Where is this red headline? Oh, look, not in the OP.

The OP is the only thing you must read. All else is discussion about the OP. You are not talking about the OP. Therefore, your post is off-topic.
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September 06, 2013, 10:05:57 PM
 #163

Wow, the amount of coins lost to scams is unbelievable
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October 08, 2013, 10:08:15 PM
 #164

Here's a tough one: the Ross Ulbricht seizure. It doesn't fit any of the words in the title, but it seems similar enough in that it was a forced transaction to which the sender did not consent. I'm thinking of listing in on the list and making a note that the seizure was authorized by US law. Does this make sense to everyone?
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October 08, 2013, 10:19:28 PM
 #165

Here's a tough one: the Ross Ulbricht seizure. It doesn't fit any of the words in the title, but it seems similar enough in that it was a forced transaction to which the sender did not consent. I'm thinking of listing in on the list and making a note that the seizure was authorized by US law. Does this make sense to everyone?

As you said: it doesn't fit any of the words! But it might be interesting to start a new thread: List of Major Bitcoin seizures/confiscations by LEAs
That would be interesting, it won't be the last one.. Why don't you? I would not have the time to keep it updated, but you seem good in that! Smiley Cheers!

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October 08, 2013, 10:25:38 PM
 #166

I think you can safely add this to this thread. Some of the transactions that were occuring on SR were legitimate in the eyes of law (even if they were a minority).

There is also the word "Losses" in the topic title, so yeah, I think it's a great loss (>$3M) to people who stored their BTC there.

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October 09, 2013, 01:35:14 PM
 #167

I agree too, Ross lost a huge pile of Bitcoins. Sure, we can still watch them in the blockchain, and there are people with access to them - but it's not that much different to the other cases at all.
Well, of course the 27k seized Bitcoins aren't strictly and solely Ross'. Still worth an entry.
You might even count the 111k somewhere in the list. Just because Ross might never be able to practically access them, and with such a huge number that is of interest. It still teaches readers a lot about security, backups and inheriting.

All this is too crazy to not put on the list, somewhere! :-)

Ente
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October 09, 2013, 05:35:36 PM
 #168

I think you can safely add this to this thread. Some of the transactions that were occuring on SR were legitimate in the eyes of law (even if they were a minority).

Yes I'd also include DPR's 26k into this listing.


There is also the word "Losses" in the topic title, so yeah, I think it's a great loss (>$3M) to people who stored their BTC there.

However I'd remove the losses from this thread. There's another thread for that and the fact that coins are permanently lost is different from all the other cases here.
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October 12, 2013, 12:29:26 AM
 #169

I added Silk Road. There will be some tweaking to the list in the near future. Right now, the "severity" lists are terrible because of how volatile the BTC price is. Consequently, I will likely be adjusting the lists to order by June 2013 BTC (which seems to have stuck as a good baseline, because price was similar to today in June and in addition price was particularly stable).
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October 24, 2013, 10:19:14 PM
 #170

You guys are missing the bitcoinrain/mercadobitcoin 10~15k btc theft.

bitcoinrain was basically a ponzi and mercadobitcoin(one exchange donator to bitcoin foundation) used adulterated fiat balance to gather coins. The operator of both sites excuse was this: he put all coins of bitcoirain in one account of his exchange www.mercadobitcoin.com.br because he though it was safer this way so he could go in a trip but unfortunatelly the website was hacked in his absence.

guess what, the "hacking" event occurred during the bubble. withdrawals from his ponzi(bitcoinrain) were already halted many days prior the hacking event.

After the heist of his exchange account that also held his ponzi coins no addresses were made public and since we is a known person and already threatened by government he tries to keep this as silent as possible, thus he aims at trying to keep everyone that had coins with him under control. His is promissing one payment plan pricing the coins at 180 brazilians real, about 80USD.

He also held hostage any fiat balance people had on his exchange for more than 3 months after bubble popped, which is the reason I say he used to manipulate the sellings.

profile of the suspect: https://bitcointalk.org/index.php?action=profile;u=10275

Every coin sent to bitcoin rain accounts would first go to this address:
https://blockchain.info/address/1FuiZdyNvJPy5pPdJMSNSoUhme3D6FmPpp

I just found this thread and will compile a more detailed version of the facts later.
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October 25, 2013, 06:20:40 AM
 #171

Also missing aethero defaulting on his Ziggap loan from BTCjam, currently has about 900BTC outstanding and also he stole some cash from someone that was supposed to be trading for BTC?
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October 25, 2013, 05:53:32 PM
 #172

FBI seized 144336.39449470 BTC from Ulbricht's wallet, over $28M at the time of the seizure:

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH
http://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/

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October 25, 2013, 06:06:24 PM
 #173

FBI seized 144336.39449470 BTC from Ulbricht's wallet, over $28M at the time of the seizure:

Should be:

FBI stole 144336.39449470 BTC from Ulbricht's wallet, over $28M at the time of the theft:
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October 25, 2013, 06:08:35 PM
 #174

FBI seized 144336.39449470 BTC from Ulbricht's wallet, over $28M at the time of the seizure:
Should be:
FBI stole 144336.39449470 BTC from Ulbricht's wallet, over $28M at the time of the theft:

I was hesitating how to word it exactly but I decided to stay a bit more neutral this time Wink

To you and me this is considered a theft but to most people it's a seizure or confiscation (because FBI was operating within the law).

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October 25, 2013, 06:57:52 PM
 #175

I was hesitating how to word it exactly but I decided to stay a bit more neutral this time Wink

To you and me this is considered a theft but to most people it's a seizure or confiscation (because FBI was operating within the law).

Ya, keep the term 'seized'.  The body of work is interesting enough to be discovered and evaluated, and it's in the community's interest that 99% of the general public does not see the community as consisting of foaming idiots.


sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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October 25, 2013, 07:04:24 PM
 #176

I was hesitating how to word it exactly but I decided to stay a bit more neutral this time Wink

To you and me this is considered a theft but to most people it's a seizure or confiscation (because FBI was operating within the law).

Ya, keep the term 'seized'.  The body of work is interesting enough to be discovered and evaluated, and it's in the community's interest that 99% of the general public does not see the community as consisting of foaming idiots.



agreed. i personally don't consider confiscation of a high tech drug dealer's bitcoin to be a theft, i consider it a lawful seizure of money gained through illicit and prohibited behavior.

My negative trust rating is reflective of a personal vendetta by someone on default trust.
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October 25, 2013, 09:55:15 PM
 #177

Yep, there's a lot. I will go through the new ones and add them once I have the time (which will be this weekend I hope). Keep the reports coming!
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October 25, 2013, 09:59:51 PM
 #178

1170 BTC stolen from 50BTC pool. It happened in 2012 but I couldn't find it in the OP.

https://50btc.com/news/status_update_en

https://blockchain.info/tx/9dfdb24667657365c469ff20568fcc820f6f028a125d9c22dc521ae44dcf7c5e
https://blockchain.info/tx/bd2ad7b49c22d12cf2f8f12ef601952aed2a96907af4df732156fd90165b5ef5
https://blockchain.info/tx/d0035ad189634e90239cca82eb53f78e08c0179620b2bd24e2cb291478c7d57a
https://blockchain.info/tx/a2b642bafea45bc128d81314ef33542bc807811ba066329eaa1306bd62bec075

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October 30, 2013, 09:44:12 PM
 #179

You guys are missing the bitcoinrain/mercadobitcoin 10~15k btc theft.

bitcoinrain was basically a ponzi and mercadobitcoin(one exchange donator to bitcoin foundation) used adulterated fiat balance to gather coins. The operator of both sites excuse was this: he put all coins of bitcoirain in one account of his exchange www.mercadobitcoin.com.br because he though it was safer this way so he could go in a trip but unfortunatelly the website was hacked in his absence.

guess what, the "hacking" event occurred during the bubble. withdrawals from his ponzi(bitcoinrain) were already halted many days prior the hacking event.

After the heist of his exchange account that also held his ponzi coins no addresses were made public and since we is a known person and already threatened by government he tries to keep this as silent as possible, thus he aims at trying to keep everyone that had coins with him under control. His is promissing one payment plan pricing the coins at 180 brazilians real, about 80USD.

He also held hostage any fiat balance people had on his exchange for more than 3 months after bubble popped, which is the reason I say he used to manipulate the sellings.

profile of the suspect: https://bitcointalk.org/index.php?action=profile;u=10275

Every coin sent to bitcoin rain accounts would first go to this address:
https://blockchain.info/address/1FuiZdyNvJPy5pPdJMSNSoUhme3D6FmPpp

I just found this thread and will compile a more detailed version of the facts later.

Has been added. Others coming soon.
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November 06, 2013, 06:46:09 PM
 #180

judging from this list, does anyone have suggestions for whats currently most secure online wallet?
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November 07, 2013, 01:48:28 AM
 #181

judging from this list, does anyone have suggestions for whats currently most secure online wallet?
There's no such thing as a secure online wallet, and there never will be due to the nature of Bitcoin.

At best, there's blockchain.info. It's the least insecure of all of them due to how it is designed.
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November 07, 2013, 02:10:37 AM
 #182

Anyone know if anyone ever got any bitcoins/USD from the bitcoinica fiasco?  I had 150BTC in bitcoinica, but unfortunately missed the deadline earlier this year to submit my claim.  Ooops.  Just curious if any bitcoin/usd ever materialized for anyone, or if they remain "locked up" in Gox.

When I use the word "higher" in a sentence I actually mean lower.
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November 07, 2013, 02:41:01 AM
 #183

Anyone know if anyone ever got any bitcoins/USD from the bitcoinica fiasco?  I had 150BTC in bitcoinica, but unfortunately missed the deadline earlier this year to submit my claim.  Ooops.  Just curious if any bitcoin/usd ever materialized for anyone, or if they remain "locked up" in Gox.

No, we are still working on it. Gox is not playing nice, holding to coins hostage and using the coins for leverage.

I've already accepted that I won't ever get any of those coins back, and at this point I consider Gox at least as responsible for that as everyone who was involved in bitcoinica.

When I use the word "higher" in a sentence I actually mean lower.
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November 07, 2013, 02:46:45 AM
 #184

Anyone know if anyone ever got any bitcoins/USD from the bitcoinica fiasco?  I had 150BTC in bitcoinica, but unfortunately missed the deadline earlier this year to submit my claim.  Ooops.  Just curious if any bitcoin/usd ever materialized for anyone, or if they remain "locked up" in Gox.

No, we are still working on it. Gox is not playing nice, holding to coins hostage and using the coins for leverage.

I've already accepted that I won't ever get any of those coins back, and at this point I consider Gox at least as responsible for that as everyone who was involved in bitcoinica.

Mt. Gox (Mark) has kept the money and BTC. They had the ability to pass it on but refused. Sad

Are there any possible legitimate reasons for him to behave this way?

When I use the word "higher" in a sentence I actually mean lower.
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November 07, 2013, 03:00:31 AM
 #185

Anyone know if anyone ever got any bitcoins/USD from the bitcoinica fiasco?  I had 150BTC in bitcoinica, but unfortunately missed the deadline earlier this year to submit my claim.  Ooops.  Just curious if any bitcoin/usd ever materialized for anyone, or if they remain "locked up" in Gox.

No, we are still working on it. Gox is not playing nice, holding to coins hostage and using the coins for leverage.

I've already accepted that I won't ever get any of those coins back, and at this point I consider Gox at least as responsible for that as everyone who was involved in bitcoinica.

Mt. Gox (Mark) has kept the money and BTC. They had the ability to pass it on but refused. Sad

Are there any possible legitimate reasons for him to behave this way?

They say it is "company policy" but refuse to explain what that policy is.

This should be stickied to the top of every forum.  When in the hell are we going to get our cash + coins back?
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November 07, 2013, 03:12:32 AM
Last edit: November 07, 2013, 12:21:57 PM by Korbman
 #186

Not inputs.io. Cheesy

Just as a reference point for this comment: https://bitcointalk.org/index.php?topic=248803.msg3504172#msg3504172

BTC4100 has apparently been "stolen" from Inputs.io. Not much information yet, but it still needs attention.


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November 07, 2013, 05:09:07 AM
 #187

The backlog grows...

A weekend is coming soon so I will add the missing thefts then.
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November 07, 2013, 05:16:47 AM
 #188

The backlog grows...

A weekend is coming soon so I will add the missing thefts then.

Don't forget inputs.io
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November 07, 2013, 05:17:41 AM
 #189

The backlog grows...

A weekend is coming soon so I will add the missing thefts then.

Don't forget inputs.io

It's on the backlog, of course. Not easy to forget about this one because of its relative size.
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November 07, 2013, 05:18:34 AM
 #190