Jul 2011 - Bitomat Exchange Wallet.dat File Deleted - $220k (Poland)
“During a server restart, the remote Amazon service that housed Bitomat.pl’s wallet was wiped. No backups were kept, and Mt. Gox later bailed out Bitomat.pl. Ultimately, neither the exchange’s customers nor the original owners suffered any loss from the incident.”
Further Analysis
In addition to protecting against unauthorized access, it’s important to build in redundancy. Using multi-sig with at least one additional spare signature means that any single loss of signature is unable to bring down the wallet.
How Could This Have Been Prevented?
The use of multi-signature technology provides redundancy, and all operators should have training in how to safely store and manage private keys.
More Cryptocurrency Exchange Hacks/Scams/Frauds
MyBitcoin Exchange Hack/Fraud > > < < MyBitcoin Username/Password Breach
Sources/Further Reading
Infographic: An Overview of Compromised Bitcoin Exchange Events (Jan 30)
List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old] (Jan 28)
100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents (Jan 25)
List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses (Feb 15)
Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com (Mar 5)
 t.me/QuadrigaInitiative
|
 /r/QuadrigaInitiative
|
 @QuadrigaInit
|
 info@quadrigainitiative.com
|