Nov 2013 - Czech Bitcash.cz Hacked - $200k (Czech Republic)
“According to Czech news site E15.cz, some 4,000 bitcoin wallets had been opened with Bitcash.cz, with a total value of over 2 million Czech koruna (roughly equivalent to $100,000).” “according to site owner Karel Minx, the entire balance of Bitcoins, including all users' wallets, the "coin vault" and the "escrow sub-account," was emptied (h/t Softpedia).”
Further Analysis
It would appear that this is a simple case where cold storage was not utilized at all. Instead, all of the funds were likely stored in a hot wallet, and this hot wallet was breached. From what I have read, the owner appears to have been doing his best to run a legitimate business operation, and simply lacked the education and technical know-how to properly secure the funds, nor the foresight to establish a contingency plan.
More Cryptocurrency Exchange Hacks/Scams/Frauds
BIPS Wallet Service > > < < Bidextreme.pl Exchange Hacked
Sources/Further Reading
Bitcash.cz exchanged hacked. 4000 BTC stolen. : Bitcoin (Feb 15)
Czech Bitcoin Exchange Bitcash.cz Hacked (Feb 15)
Bitcash.cz - Bitcoin Wiki (Feb 15)
Hackers attacked Czech bitcoin exchange and emptied users' wallets (Feb 15)
Bitcash.cz hacked (Feb 15)
List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses (Feb 15)
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