$800 000 USD
DESCRIPTION OF EVENTS
"The guilt was starting to build up inside of me. I answered very few tickets the week of the 16th. I was conflicted, but I worked at my full time job >40 hours that week, so it kept my mind off of things a little. The issues continued. I kept suggesting ways we could maybe get some BTC back, arbitrage, etc. We didn’t even have enough funds for that. I wanted so bad for the exchange to stay afloat, thinking “Maybe tomorrow will bring us back our volume!” But alas, the problems with Zeit, and BTC withdrawals killed our volume. There was no coming back."
The primary issue here appears to be numerous exploits in the various alt coin withdrawal processes which CryptoRush handled through hot wallets. This seems to be based on the service being quickly coded in a few short months.
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List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses (Feb 15)
Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com (Mar 5)
https://blog.idex.io/all-posts/a-complete-list-of-cryptocurrency-exchange-hacks-updated/#2014 (Mar 26)
Bitcoin’s Correction Could Well Have Shaken Out Potentially Damaging Investors (Mar 26)