Mar 2014 - Bitcurex Targeted by Hacking - $844k (Poland)
“We successfully blocked a hacking attack on Bitcurex, preventing mass theft of BTC funds of our users. Thanks to automatic safety procedures, hackers managed to defraud only a portion of the funds stored in operational Hot Wallet Bitcurex. The majority of funds from Hot Wallet, as well the entirety of funds from Cold Wallet and FIAT monetary funds remained intact.”
Further Analysis
It would appear that there was a wonderful money duplication “feature”. The hacker used their “magic money” to purchase all the bitcoin on the platform. It appears they managed to make off with 1,323 bitcoin before the issue was discovered (very quickly), although the company did not reveal the magnitude of the hack. The exchange continued operation after this hack with no customer losses. This highlights of course the need to insure hot wallets.
More Cryptocurrency Exchange Hacks/Scams/Frauds
Flexcoin Hot Wallet Hack > > < < CryptoRush Hack
Sources/Further Reading
Bitcurex Issues-Up Statement Hack Attempt That Halted Trading (May 8)
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