QI Quadriga Initiative

May 2012 - World Bitcoin Exchange - $25k (Australia)

“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.”

Further Analysis

It would seem from the initial look that this was another case of hacking a hot wallet.

How Could This Have Been Prevented?

This is a case where simply knowing who's holding the funds and storing them properly offline with multiple signatures would have avoided the issues.

More Cryptocurrency Exchange Hacks/Scams/Frauds

CryptoXChange Withdrawal Refused > > < < Bitcoinica Hot Wallet Hack

Sources/Further Reading

List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old] (Jan 28)


Join Us!

Name: Email:

t.me/QuadrigaInitiative /r/QuadrigaInitiative @QuadrigaInit info@quadrigainitiative.com

Sign-Ups: 100%

Your use of this site/service accepts the Terms of Use and Privacy Policy. This site is not associated with Ernst & Young, Miller Thompson, or the Official Committee of Affected User. For questions or enquiries, email info@quadrigainitiative.com.