AllCrypt WordPress Exploit Theft - Revision history

Azoundria: Another 30 minutes. Renamed the article to a more detailed name. Sorted through all the references at the top, removed a duplicate, and created actual citations. Updating and separating the information on a separate hack which happened almost exactly a year earlier.

2024-03-19T19:50:07Z

Another 30 minutes. Renamed the article to a more detailed name. Sorted through all the references at the top, removed a duplicate, and created actual citations. Updating and separating the information on a separate hack which happened almost exactly a year earlier.

← Older revision		Revision as of 13:50, 19 March 2024
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	AllCrypt was run by an administrator with a strong personality, and featured the ability to trade hundreds of different cryptocurrency assets. Unfortunately, the platform used WordPress, taunted hackers on Twitter, and stored funds in a live wallet. Hackers were eager to help themselves to the "small and insignificant" sum of customer funds on the platform. The platform shut down without reimbursing any affected customers.		AllCrypt was run by an administrator with a strong personality, and featured the ability to trade hundreds of different cryptocurrency assets. Unfortunately, the platform used WordPress, taunted hackers on Twitter, and stored funds in a live wallet. Hackers were eager to help themselves to the "small and insignificant" sum of customer funds on the platform. The platform shut down without reimbursing any affected customers.

	<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />		<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" /><ref name=":3">[https://web.archive.org/web/20150324204905/https://www.allcrypt.com/blog/2015/03/what-happened-and-whats-going-on/ What happened, and what’s going on - AllCrypto Blog Archive March 24th, 2015 2:49:05 PM MDT] (Accessed Feb 28, 2024)</ref>
	~~https://web.archive.org/web/20140916141422/https://twitter.com/All_Crypt/~~

	~~<ref>[https://web.archive.org/web/20140916141422/https://twitter.com/All_Crypt/ AllCrypt Twitter Archive September 16th, 2014 8:14:22 AM MDT] (Accessed Mar 18, 2024)</ref>~~

	~~https://web.archive.org/web/20150322174606/https://twitter.com/All_Crypt/~~

	~~https://web.archive.org/web/20150324203912/https://twitter.com/All_Crypt/~~

	~~https://web.archive.org/web/20150324204356/https://twitter.com/All_Crypt/~~

	~~https://web.archive.org/web/20150324204358/https://twitter.com/All_Crypt/~~

	~~https://web.archive.org/web/20150324210329/https://twitter.com/All_Crypt/~~

	~~https://web.archive.org/web/20150514221118/https://twitter.com/All_Crypt/~~

	<ref name=":1">[https://web.archive.org/web/20150324205249/https://twitter.com/All_Crypt/status/567551838719705091 AllCrypt - "AllCrypt: Too small and insignificant to be a target of the hacks this week. Your coins are safe here because no one cares to hack us " - Twitter Archive March 24th, 2015 2:52:49 PM MDT] (Accessed Mar 18, 2024)</ref>

	~~https://web.archive.org/web/20150324213113/http://qntra.net/2015/03/amid-decision-to-close-allcrypt-com-reports-hot-wallet-theft/~~

	~~https://web.archive.org/web/20150324205250/https://twitter.com/All_Crypt/status/567551838719705091~~


	~~<ref~~>[https://web.archive.org/web/20150324204905/https://www.allcrypt.com/blog/2015/03/what-happened-and-whats-going-on/ What happened, and what’s going on - AllCrypto Blog Archive March 24th, 2015 2:49:05 PM MDT] (Accessed Feb 28, 2024)</ref>

	== About AllCrypt ==		== About AllCrypt ==
	“Ironically AllCrypt tweeted “Too small and insignificant to be a target of the hacks this week. Your coins are safe here because no one cares to hack us” on 2/16/2015 (twitter: All_Crypt/status/567551838719705091)”		“Ironically AllCrypt tweeted “Too small and insignificant to be a target of the hacks this week. Your coins are safe here because no one cares to hack us” on 2/16/2015 (twitter: All_Crypt/status/567551838719705091)”

	Homepage Online:<ref>[https://web.archive.org/web/20150206091952/https://www.allcrypt.com/market AllCrypt Homepage Archive February 6th, 2015 2:19:52 AM MST] (Accessed Mar 12, 2024)</ref>		Homepage Online:<ref>[https://web.archive.org/web/20150206091952/https://www.allcrypt.com/market AllCrypt Homepage Archive February 6th, 2015 2:19:52 AM MST] (Accessed Mar 12, 2024)</ref>

			Twitter:<ref>[https://web.archive.org/web/20140916141422/https://twitter.com/All_Crypt/ AllCrypt Twitter Archive September 16th, 2014 8:14:22 AM MDT] (Accessed Mar 18, 2024)</ref><ref>[https://web.archive.org/web/20150322174606/https://twitter.com/All_Crypt/ AllCrypt Twitter Archive March 22nd, 2015 11:46:06 AM MDT] (Accessed Mar 19, 2024)</ref><ref>[https://web.archive.org/web/20150324203912/https://twitter.com/All_Crypt/ AllCrypt Twitter Archive March 24th, 2015 2:39:12 PM MDT] (Accessed Mar 19, 2024)</ref><ref>[https://web.archive.org/web/20150324204356/https://twitter.com/All_Crypt/ AllCrypt Twitter Archive March 24th, 2015 2:43:56 PM MDT] (Accessed Mar 19, 2024)</ref><ref>[https://web.archive.org/web/20150324204358/https://twitter.com/All_Crypt/ AllCrypt Twitter Archive March 24th, 2015 2:43:58 PM MDT] (Accessed Mar 19, 2024)</ref><ref>[https://web.archive.org/web/20150324210329/https://twitter.com/All_Crypt/ AllCrypt Twitter Archive March 24th, 2015 3:03:29 PM MDT] (Accessed Mar 19, 2024)</ref><ref>[https://web.archive.org/web/20150514221118/https://twitter.com/All_Crypt/ AllCrypt Twitter Archive May 14th, 2015 4:11:18 PM MDT] (Accessed Mar 19, 2024)</ref><ref name=":1">[https://web.archive.org/web/20150324205249/https://twitter.com/All_Crypt/status/567551838719705091 AllCrypt - "AllCrypt: Too small and insignificant to be a target of the hacks this week. Your coins are safe here because no one cares to hack us " - Twitter Archive March 24th, 2015 2:52:49 PM MDT] (Accessed Mar 18, 2024)</ref>

	== The Reality ==		== The Reality ==
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	!Event		!Event
	!Description		!Description
			\|-
			\|March 26th, 2014 7:45:55 AM MDT
			\|Hack Resolution Reddit Post
			\|A representative of AllCrypt posts on Reddit that a hack has been stopped, repaired, and the coins have been recovered within 5 days<ref name="reddit-206" />. This was roughly a year prior to the 2015 incident, and apparently they are "posting about the hack everywhere we can" in the spirit of "transparency and honesty"<ref name="reddit-206" />. Said AllCrypt at the time "learning from these issues is just as important as how you handle it".
	\|-		\|-
	\|February 16th, 2015		\|February 16th, 2015
	\|Too Small Tweet		\|Too Small Tweet
	\|AllCrypt complains to the world that they are too small so no one cares enough to hack them<ref name=":1" />.		\|AllCrypt complains to the world that they are too small so no one cares enough to hack them, complete with a crying face emoticon<ref name=":1" />.
	\|-		\|-
	\|March 15th, 2015		\|March 15th, 2015
	\|WordPress Exploit		\|WordPress Exploit
	\|A thief reportedly manages to get into the AllCrypt Wordpress administration using a marketing director login credential.		\|A thief reportedly manages to get into the AllCrypt Wordpress administration using a marketing director login credential.
			\|-
			\|March 16th, 2015 5:55:00 AM MDT
			\|QNTRA.net Reports
			\|QNTRA.net reports that, following an announcement of its impending closure due to low trading volume, AllCrypt.com, a bitcoin/altcoin exchange, now reports the depletion of its hot wallet, allegedly losing around 37 BTC<ref name=":4">[https://web.archive.org/web/20150324213113/http://qntra.net/2015/03/amid-decision-to-close-allcrypt-com-reports-hot-wallet-theft/ Amid Decision To Close, AllCrypt.com Reports Hot Wallet Theft - QNTRA.net Archive March 24th, 2015 3:31:13 PM MDT] (Accessed Mar 19, 2024)</ref>. This incident occurred just a month after the exchange's Twitter account reassured users of their bitcoins' safety, citing the site's perceived insignificance. Of the stolen BTC, approximately 10.86 BTC belonged to AllCrypt.com, with the rest belonging to users and a charity fund. It remains unclear whether any altcoins were also compromised. The situation escalated with a tweet from the administrator expressing frustration, signaling potential turmoil within the exchange. Launched in early 2014 with promises of features like anonymous account creation, AllCrypt.com struggled to gain traction and ultimately decided to shut down last month<ref name=":4">[https://web.archive.org/web/20150324213113/http://qntra.net/2015/03/amid-decision-to-close-allcrypt-com-reports-hot-wallet-theft/ Amid Decision To Close, AllCrypt.com Reports Hot Wallet Theft - QNTRA.net Archive March 24th, 2015 3:31:13 PM MDT] (Accessed Mar 19, 2024)</ref>.
	\|-		\|-
	\|March 18th, 2015		\|March 18th, 2015
	\|Post On Front Of Site		\|Post On Front Of Site
	\|Post is made on the front of the website<ref name=":2" />.		\|Post is made on the front of the website<ref name=":2" /> which links to a post on the AllCrypt blog<ref name=":3" />. AllCrypt reports that late on a Sunday night, the platform experienced a hack, triggering a thorough investigation involving log analysis, discussions with other exchange operators, and law enforcement<ref name=":3" />. The breach began with a password reset request for the marketing director's blog account, whose origin remains unknown. Suspected methods include an educated guess or an email account breach. The hacker accessed the tech assistant's email, possibly via brute force, as failed attempts weren't logged. Utilizing web-based tools, the hacker gained administrative access to the blog, allowing manipulation of user balances and unauthorized withdrawals. Despite safeguards like a secondary accounting system, the hacker circumvented them by creating fake balances through trades, leading to substantial losses of BTC, LTC, and DOGE<ref name=":3" />. The post acknowledges security flaws, addresses speculation, and outlines efforts to return remaining funds to users while contemplating the exchange's future<ref name=":3" />. IP tracing indicates activity from Iran, prompting law enforcement involvement<ref name=":3" />. A Q&A addresses criticisms and clarifies aspects of the incident, emphasizing the severity of the situation and the challenges ahead<ref name=":3" />.
	\|-		\|-
	\|March 24th, 2015 2:39:44 PM MDT		\|March 24th, 2015 2:39:44 PM MDT
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	\|AllCrypt reports that they recovered 55,685.92170221 BTCS which were stolen on Friday the 21st<ref name=":0">[https://web.archive.org/web/20150324203944/https://www.allcrypt.com/blog/2014/03/the-hack-the-resolution/ The Hack – The Resolution - AllCrypt Blog Archive March 24th, 2015 2:39:44 PM MDT] (Accessed Mar 15, 2024)</ref>. These coins were attempted to be cashed out through Mintpal where the thief was caught<ref name=":0">[https://web.archive.org/web/20150324203944/https://www.allcrypt.com/blog/2014/03/the-hack-the-resolution/ The Hack – The Resolution - AllCrypt Blog Archive March 24th, 2015 2:39:44 PM MDT] (Accessed Mar 15, 2024)</ref>.		\|AllCrypt reports that they recovered 55,685.92170221 BTCS which were stolen on Friday the 21st<ref name=":0">[https://web.archive.org/web/20150324203944/https://www.allcrypt.com/blog/2014/03/the-hack-the-resolution/ The Hack – The Resolution - AllCrypt Blog Archive March 24th, 2015 2:39:44 PM MDT] (Accessed Mar 15, 2024)</ref>. These coins were attempted to be cashed out through Mintpal where the thief was caught<ref name=":0">[https://web.archive.org/web/20150324203944/https://www.allcrypt.com/blog/2014/03/the-hack-the-resolution/ The Hack – The Resolution - AllCrypt Blog Archive March 24th, 2015 2:39:44 PM MDT] (Accessed Mar 15, 2024)</ref>.
	\|-		\|-
	\|~~March 26th, 2014 7:45:55 AM MDT~~		\|
	\|~~Hack Resolution Reddit Post~~		\|
	\|A representative of AllCrypt posts on Reddit that the hack has been stopped, repaired, and the coins have been recovered within 5 days<ref name="reddit-206" />. Apparently they are "posting about the hack everywhere we can" in the spirit of "transparency and honesty"<ref name="reddit-206" />.		\|
	\|}		\|}

Azoundria: Azoundria moved page Allcrypt to AllCrypt WordPress Exploit Theft

2024-03-19T18:52:40Z

Azoundria moved page Allcrypt to AllCrypt WordPress Exploit Theft

← Older revision	Revision as of 12:52, 19 March 2024
(No difference)

Azoundria: Another 30 minutes. Working on promotional tweets. Researching and integrating information on Twitter. Help from Internet Archive timestamping.

2024-03-18T21:48:18Z

Another 30 minutes. Working on promotional tweets. Researching and integrating information on Twitter. Help from Internet Archive timestamping.

← Older revision		Revision as of 15:48, 18 March 2024
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	<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />		<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />
			https://web.archive.org/web/20140916141422/https://twitter.com/All_Crypt/

	https://web.archive.org/web/20140916141422/https://twitter.com/All_Crypt/		<ref>[https://web.archive.org/web/20140916141422/https://twitter.com/All_Crypt/ AllCrypt Twitter Archive September 16th, 2014 8:14:22 AM MDT] (Accessed Mar 18, 2024)</ref>

	https://web.archive.org/web/20150322174606/https://twitter.com/All_Crypt/		https://web.archive.org/web/20150322174606/https://twitter.com/All_Crypt/
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	https://web.archive.org/web/20150514221118/https://twitter.com/All_Crypt/		https://web.archive.org/web/20150514221118/https://twitter.com/All_Crypt/

	https://web.archive.org/web/20150324205249/https://twitter.com/All_Crypt/status/567551838719705091		<ref name=":1">[https://web.archive.org/web/20150324205249/https://twitter.com/All_Crypt/status/567551838719705091 AllCrypt - "AllCrypt: Too small and insignificant to be a target of the hacks this week. Your coins are safe here because no one cares to hack us " - Twitter Archive March 24th, 2015 2:52:49 PM MDT] (Accessed Mar 18, 2024)</ref>

	https://web.archive.org/web/20150324213113/http://qntra.net/2015/03/amid-decision-to-close-allcrypt-com-reports-hot-wallet-theft/		https://web.archive.org/web/20150324213113/http://qntra.net/2015/03/amid-decision-to-close-allcrypt-com-reports-hot-wallet-theft/
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	!Description		!Description
	\|-		\|-
	\|?		\|February 16th, 2015
	\|Too Small Tweet		\|Too Small Tweet
	\|AllCrypt complains to the world that they are too small so no one cares enough to hack them.		\|AllCrypt complains to the world that they are too small so no one cares enough to hack them<ref name=":1" />.
	\|-		\|-
	\|March 15th, 2015		\|March 15th, 2015
	\|WordPress Exploit		\|WordPress Exploit
	\|A thief manages to get into the AllCrypt Wordpress administration using a marketing director login credential.		\|A thief reportedly manages to get into the AllCrypt Wordpress administration using a marketing director login credential.
	\|-		\|-
	\|March 18th, 2015		\|March 18th, 2015
	\|Post On Front Of Site		\|Post On Front Of Site
	\|Post is made on the front of the website.		\|Post is made on the front of the website<ref name=":2" />.
	\|-		\|-
	\|March 24th, 2015 2:39:44 PM MDT		\|March 24th, 2015 2:39:44 PM MDT
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	Notice On Website:<ref>[https://web.archive.org/web/20150324205254/https://www.allcrypt.com/sitedown.html AllCrypt.com is down - AllCrypt Homepage Archive March 24th, 2015 2:52:54 PM MDT] (Accessed Mar 12, 2024)</ref>		Notice On Website:<ref name=":2">[https://web.archive.org/web/20150324205254/https://www.allcrypt.com/sitedown.html AllCrypt.com is down - AllCrypt Homepage Archive March 24th, 2015 2:52:54 PM MDT] (Accessed Mar 12, 2024)</ref>

	“On March 18, 2015, AllCrypt, a small crypto currency exchange posted what may very well be one of their last posts on their blog. The Bitcoin exchange had been hacked, resulting in stolen crypto currency.” “42 BTC stolen by the hackers” “The stolen Bitcoins might not seem that much, but for a smaller alternative crypto currency exchange even such an amount is not small.”		“On March 18, 2015, AllCrypt, a small crypto currency exchange posted what may very well be one of their last posts on their blog. The Bitcoin exchange had been hacked, resulting in stolen crypto currency.” “42 BTC stolen by the hackers” “The stolen Bitcoins might not seem that much, but for a smaller alternative crypto currency exchange even such an amount is not small.”

Azoundria: Another 30 minutes. New introduction description written. Reviewing posts claiming resolution of the issues and funds recovered from Mintpal. It seems like the thief tried to cash out through there.

2024-03-15T22:07:16Z

Another 30 minutes. New introduction description written. Reviewing posts claiming resolution of the issues and funds recovered from Mintpal. It seems like the thief tried to cash out through there.

← Older revision		Revision as of 16:07, 15 March 2024
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	{{Case Study Under Construction}}{{Unattributed Sources}}[[File:Allcrypt.jpg\|thumb\|AllCrypt Logo/Homepage]]		{{Case Study Under Construction}}{{Unattributed Sources}}[[File:Allcrypt.jpg\|thumb\|AllCrypt Logo/Homepage]]

	~~It’s always fascinating~~ to ~~hear about an essentially anonymous exchange operator who secured~~ the ~~exchange only with Wordpress~~, taunted hackers on Twitter, and ~~then was rude~~ to ~~customers after~~ the ~~fact~~. ~~Luckily, this exchange didn’t achieve~~ any ~~significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided~~.		AllCrypt was run by an administrator with a strong personality, and featured the ability to trade hundreds of different cryptocurrency assets. Unfortunately, the platform used WordPress, taunted hackers on Twitter, and stored funds in a live wallet. Hackers were eager to help themselves to the "small and insignificant" sum of customer funds on the platform. The platform shut down without reimbursing any affected customers.

	~~The country for this case study is not yet known.~~<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />		<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />

	https://web.archive.org/web/20140916141422/https://twitter.com/All_Crypt/		https://web.archive.org/web/20140916141422/https://twitter.com/All_Crypt/
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	\|Post On Front Of Site		\|Post On Front Of Site
	\|Post is made on the front of the website.		\|Post is made on the front of the website.
			\|-
			\|March 24th, 2015 2:39:44 PM MDT
			\|Hack Resolution Website Post
			\|AllCrypt reports that they recovered 55,685.92170221 BTCS which were stolen on Friday the 21st<ref name=":0">[https://web.archive.org/web/20150324203944/https://www.allcrypt.com/blog/2014/03/the-hack-the-resolution/ The Hack – The Resolution - AllCrypt Blog Archive March 24th, 2015 2:39:44 PM MDT] (Accessed Mar 15, 2024)</ref>. These coins were attempted to be cashed out through Mintpal where the thief was caught<ref name=":0">[https://web.archive.org/web/20150324203944/https://www.allcrypt.com/blog/2014/03/the-hack-the-resolution/ The Hack – The Resolution - AllCrypt Blog Archive March 24th, 2015 2:39:44 PM MDT] (Accessed Mar 15, 2024)</ref>.
			\|-
			\|March 26th, 2014 7:45:55 AM MDT
			\|Hack Resolution Reddit Post
			\|A representative of AllCrypt posts on Reddit that the hack has been stopped, repaired, and the coins have been recovered within 5 days<ref name="reddit-206" />. Apparently they are "posting about the hack everywhere we can" in the spirit of "transparency and honesty"<ref name="reddit-206" />.
	\|}		\|}

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	== Ultimate Outcome ==		== Ultimate Outcome ==
	~~What was~~ the ~~end result? Was any investigation done? Were any individuals prosecuted? Was~~ there ~~a lawsuit? Was any tracing done?~~		Funds were traced to a Mintpal wallet and ultimately the portion which remained there was returned<ref name=":0" />.

	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~There do not appear to have been any funds~~ recovered ~~in this case~~.		55,685.92170221 BTCS were reportedly recovered<ref name=":0" />.

	== Ongoing Developments ==		== Ongoing Developments ==
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	<ref name="ccn-204">[https://www.ccn.com/allcrypt-bitcoin-exchange-clears-air/ BTC-e Exchange Adds Dash And Ethereum Bitcoin Trading Pairs - CCN] (Mar 2, 2020)</ref>		<ref name="ccn-204">[https://www.ccn.com/allcrypt-bitcoin-exchange-clears-air/ BTC-e Exchange Adds Dash And Ethereum Bitcoin Trading Pairs - CCN] (Mar 2, 2020)</ref>
	<ref name="googledoc-205">[https://docs.google.com/document/d/1PUs2inw65GUNVmRabBjbtumo0aepdKygWfKPbmht-CE/edit Exchange Closure and Settlement - Google Docs] (Mar 2, 2020)</ref>		<ref name="googledoc-205">[https://docs.google.com/document/d/1PUs2inw65GUNVmRabBjbtumo0aepdKygWfKPbmht-CE/edit Exchange Closure and Settlement - Google Docs] (Mar 2, 2020)</ref>
	<ref name="reddit-206">[https://www.reddit.com/r/CryptoMarkets/comments/21evpv/allcryptcom_hack_resolution_hacked_stopped/ AllCrypt.com hack resolution. Hacked, stopped, repaired, back up (in 3 days), coins recovered (in 5 days). ~~: CryptoMarkets~~] (Mar 2, 2020)</ref>		<ref name="reddit-206">[https://www.reddit.com/r/CryptoMarkets/comments/21evpv/allcryptcom_hack_resolution_hacked_stopped/ AllCrypt.com hack resolution. Hacked, stopped, repaired, back up (in 3 days), coins recovered (in 5 days). - Reddit] (Accessed Mar 2, 2020)</ref>
	</references>		</references>

Azoundria at 20:10, 12 March 2024

2024-03-12T20:10:08Z

← Older revision		Revision as of 14:10, 12 March 2024
Line 1:		Line 1:
	{{Case Study Under Construction}}{{Unattributed Sources}}		{{Case Study Under Construction}}{{Unattributed Sources}}[[File:Allcrypt.jpg\|thumb\|AllCrypt Logo/Homepage]]

	It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided.		It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided.

Azoundria: Another 30 minutes. Added prevention section. Tweaks to article and reviewing content. Updated source titles. Prepared logo. Integrating more information.

2024-03-12T20:07:23Z

Another 30 minutes. Added prevention section. Tweaks to article and reviewing content. Updated source titles. Prepared logo. Integrating more information.

← Older revision		Revision as of 14:07, 12 March 2024
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	== About AllCrypt ==		== About AllCrypt ==
	“Ironically AllCrypt tweeted “Too small and insignificant to be a target of the hacks this week. Your coins are safe here because no one cares to hack us” on 2/16/2015 (twitter: All_Crypt/status/567551838719705091)”		“Ironically AllCrypt tweeted “Too small and insignificant to be a target of the hacks this week. Your coins are safe here because no one cares to hack us” on 2/16/2015 (twitter: All_Crypt/status/567551838719705091)”

			Homepage Online:<ref>[https://web.archive.org/web/20150206091952/https://www.allcrypt.com/market AllCrypt Homepage Archive February 6th, 2015 2:19:52 AM MST] (Accessed Mar 12, 2024)</ref>

	== The Reality ==		== The Reality ==
	~~This sections~~ is ~~included if a case involved deception or information~~ that ~~was unknown at the time. Examples include:~~		There is no evidence to support the notion that hackers will not target smaller platforms. It's simply a matter of how hard the platform is to hack compared with the potential gain from doing so.

	* When the service was actually started (if different than the "official story").
	* Who actually ran a ~~service and their own personal history.~~
	* How the ~~service was structured behind~~ the ~~scenes. (For example, there was no "trading bot".)~~
	* Details of what audits reported and how vulnerabilities were missed during auditing.

	== What Happened ==		== What Happened ==
	The AllCrypt platform was hacked.		The AllCrypt platform was hacked through a Wordpress exploit, and 42 bitcoin were taken.
	{\| class="wikitable"		{\| class="wikitable"
	\|+Key Event Timeline - Allcrypt		\|+Key Event Timeline - Allcrypt
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	The total amount lost has been estimated at $12,000 USD.		The total amount lost has been estimated at $12,000 USD.

	~~How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?~~		== Immediate Reactions ==


	~~== Immediate Reactions ==~~		Notice On Website:<ref>[https://web.archive.org/web/20150324205254/https://www.allcrypt.com/sitedown.html AllCrypt.com is down - AllCrypt Homepage Archive March 24th, 2015 2:52:54 PM MDT] (Accessed Mar 12, 2024)</ref>
	~~How did the various parties involved~~ (~~firm~~, ~~platform, management, and~~/~~or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?~~

	“On March 18, 2015, AllCrypt, a small crypto currency exchange posted what may very well be one of their last posts on their blog. The Bitcoin exchange had been hacked, resulting in stolen crypto currency.” “42 BTC stolen by the hackers” “The stolen Bitcoins might not seem that much, but for a smaller alternative crypto currency exchange even such an amount is not small.”		“On March 18, 2015, AllCrypt, a small crypto currency exchange posted what may very well be one of their last posts on their blog. The Bitcoin exchange had been hacked, resulting in stolen crypto currency.” “42 BTC stolen by the hackers” “The stolen Bitcoins might not seem that much, but for a smaller alternative crypto currency exchange even such an amount is not small.”



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	== Total Amount Recovered ==		== Total Amount Recovered ==
	There do not appear to have been any funds recovered in this case.		There do not appear to have been any funds recovered in this case.

	~~What funds were recovered? What funds were reimbursed for those affected users?~~

	== Ongoing Developments ==		== Ongoing Developments ==
	~~What parts~~ of ~~this case are still remaining to be concluded?~~		Multiple news articles continue to display inaccurate information on the amount of funds which were lost in the Allcrypt platform.
	~~== General Prevention Policies ==~~
	~~Coming soon~~.
	== Individual Prevention Policies ==		== Individual Prevention Policies ==
	{{Prevention:Individuals:~~Placeholder~~}}		{{Prevention:Individuals:Avoid Third Party Custodians}}

			{{Prevention:Individuals:Store Funds Offline}}

	{{Prevention:Individuals:End}}		{{Prevention:Individuals:End}}

	== Platform Prevention Policies ==		== Platform Prevention Policies ==
	{{Prevention:Platforms:~~Placeholder~~}}		{{Prevention:Platforms:Regular Audit Procedures}}

			{{Prevention:Platforms:Implement Multi-Signature}}

			{{Prevention:Platforms:Establish Industry Insurance Fund}}

	{{Prevention:Platforms:End}}		{{Prevention:Platforms:End}}

	== Regulatory Prevention Policies ==		== Regulatory Prevention Policies ==
	{{Prevention:Regulators:~~Placeholder~~}}		{{Prevention:Regulators:Platform Security Assessments}}

			{{Prevention:Regulators:Establish Industry Insurance Fund}}

	{{Prevention:Regulators:End}}		{{Prevention:Regulators:End}}

	== References ==		== References ==
	<references><ref name="acunetix-203">[https://www.acunetix.com/blog/articles/lessons-to-learn-from-the-allcrypt-hack/ Lessons to Learn from the AllCrypt Hack \| Acunetix] (Mar 2, 2020)</ref>		<references>
			<ref name="acunetix-203">[https://www.acunetix.com/blog/articles/lessons-to-learn-from-the-allcrypt-hack/ Lessons to Learn from the AllCrypt Hack - Acunetix] (Mar 2, 2020)</ref>
	<ref name="ccn-204">[https://www.ccn.com/allcrypt-bitcoin-exchange-clears-air/ BTC-e Exchange Adds Dash And Ethereum Bitcoin Trading Pairs] (Mar 2, 2020)</ref>		<ref name="ccn-204">[https://www.ccn.com/allcrypt-bitcoin-exchange-clears-air/ BTC-e Exchange Adds Dash And Ethereum Bitcoin Trading Pairs - CCN] (Mar 2, 2020)</ref>

	<ref name="googledoc-205">[https://docs.google.com/document/d/1PUs2inw65GUNVmRabBjbtumo0aepdKygWfKPbmht-CE/edit Exchange Closure and Settlement - Google Docs] (Mar 2, 2020)</ref>		<ref name="googledoc-205">[https://docs.google.com/document/d/1PUs2inw65GUNVmRabBjbtumo0aepdKygWfKPbmht-CE/edit Exchange Closure and Settlement - Google Docs] (Mar 2, 2020)</ref>
			<ref name="reddit-206">[https://www.reddit.com/r/CryptoMarkets/comments/21evpv/allcryptcom_hack_resolution_hacked_stopped/ AllCrypt.com hack resolution. Hacked, stopped, repaired, back up (in 3 days), coins recovered (in 5 days). : CryptoMarkets] (Mar 2, 2020)</ref>
	<ref name="reddit-206">[https://www.reddit.com/r/CryptoMarkets/comments/21evpv/allcryptcom_hack_resolution_hacked_stopped/ AllCrypt.com hack resolution. Hacked, stopped, repaired, back up (in 3 days), coins recovered (in 5 days). : CryptoMarkets] (Mar 2, 2020)</ref></references>		</references>

Azoundria: Another 30 minutes complete. Initial start of research to determine date and website URL and other information. Got lots of sources for further review. Basic timeline filled in.

2024-02-28T23:50:02Z

Another 30 minutes complete. Initial start of research to determine date and website URL and other information. Got lots of sources for further review. Basic timeline filled in.

← Older revision		Revision as of 17:50, 28 February 2024
Line 1:		Line 1:
	{{~~Imported~~ Case Study ~~2\|source=https://www.quadrigainitiative.com/casestudy/allcrypt.php~~}}		{{Case Study Under Construction}}{{Unattributed Sources}}
	{{Unattributed Sources}}

	It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided.		It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided.
Line 6:		Line 5:
	The country for this case study is not yet known.<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />		The country for this case study is not yet known.<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />

	~~== About AllCrypt ==~~		https://web.archive.org/web/20140916141422/https://twitter.com/All_Crypt/
	~~“On March 18, 2015, AllCrypt, a small crypto currency exchange posted what may very well be one of their last posts on their blog~~. ~~The Bitcoin exchange had been hacked, resulting in stolen crypto currency~~.~~” “42 BTC stolen by the hackers” “The stolen Bitcoins might not seem that much, but for a smaller alternative crypto currency exchange even such an amount is not small~~.~~” “Around 8PM on Sunday (all times EDT) our marketing director’s blog account requested a password reset~~. ~~[…] The MD saw this email come in, and forwarded it to myself, and another team member (a technical lead~~/~~temporary assistant support staff), letting us know what happened and that he did not request the password reset~~. ~~I did not see the email at the time, as I was out, and it was not a huge red flag that would require a phone call~~. ~~Once I returned home later, I saw the email, and logged into the server to double-check on things~~. ~~That’s when I discovered the breach~~.~~” “The blog post goes on to describe how the attacker managed to upload PHP files to the WordPress site, install Adminer (a~~ web ~~based database management utility similar to PHPMyAdmin) and then create fake crypto currency balances in the system~~. ~~From there, using a fake account, the attacker could then trade crypto currency and transfer earnings to a Bitcoin wallet owned and controlled by the attacker~~.” “The owner, who appears to be anonymous according to WHOIS information, claims that the site cost him a total of $15,000, and further that they only netted roughly 10 BTC in profits after thirteen months of operation.~~” “Between hardware and operating costs, I am personally down over $15,000~~. ~~Believe me – I feel your pain as well~~. ~~No one on the site had as much on the servers as I personally did~~. ~~Not that I expect pity or compassion, but I think it’s important to know that I’m not retiring to a private island because of this~~. ~~I also think it’s important to be as open as possible to assuage any fears of an inside job~~.~~” In response to a customer after the hack - “I see you running an exchange successfully, I’ll take your advice~~. ~~Wait, you don’t run an exchange? You’re unemployed? Thanks for the input~~.~~” “Ironically AllCrypt tweeted “Too small and insignificant to be a target of the hacks this week~~. ~~Your coins are safe here because no one cares to hack us” on 2~~/16/~~2015 (~~twitter: All_Crypt/status/567551838719705091)”
			https://web.archive.org/web/20150322174606/https://twitter.com/All_Crypt/

			https://web.archive.org/web/20150324203912/https://twitter.com/All_Crypt/

			https://web.archive.org/web/20150324204356/https://twitter.com/All_Crypt/

			https://web.archive.org/web/20150324204358/https://twitter.com/All_Crypt/

			https://web.archive.org/web/20150324210329/https://twitter.com/All_Crypt/

			https://web.archive.org/web/20150514221118/https://twitter.com/All_Crypt/

			https://web.archive.org/web/20150324205249/https://twitter.com/All_Crypt/status/567551838719705091

	~~The country for this case study is not yet known~~.		https://web.archive.org/web/20150324213113/http://qntra.net/2015/03/amid-decision-to-close-allcrypt-com-reports-hot-wallet-theft/

	~~The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events~~.		https://web.archive.org/web/20150324205250/https://twitter.com/All_Crypt/status/567551838719705091

	~~Include:~~

	* Known history of when and ~~how the service was started.~~		<ref>[https://web.archive.org/web/20150324204905/https://www.allcrypt.com/blog/2015/03/what-happened-and-whats-going-on/ What happened, and what’s going on - AllCrypto Blog Archive March 24th, 2015 2:49:05 PM MDT] (Accessed Feb 28, 2024)</ref>
	* What problems does the company or service claim to solve?
	* What ~~marketing materials were used by the firm or business?~~
	* Audits performed, and ~~excerpts that may have been included.~~
	* Business registration documents shown (~~fake or legitimate~~).
	* How were people recruited to participate?
	* Public warnings and announcements prior to the event.

	~~Don't Include:~~		== About AllCrypt ==
	* Any wording which directly states or implies that the business is/was illegitimate, or that a ~~vulnerability existed.~~		“Ironically AllCrypt tweeted “Too small and insignificant to be a target of the hacks this week. Your coins are safe here because no one cares to hack us” on 2/16/2015 (twitter: All_Crypt/status/567551838719705091)”
	* Anything that wasn't reasonably knowable at the time of the ~~event~~.
	~~There could be more than~~ one ~~section here. If the same platform is involved with multiple incidents, then it can be linked~~ to ~~a main article page.~~

	== The Reality ==		== The Reality ==
Line 37:		Line 40:

	== What Happened ==		== What Happened ==
	The ~~specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it~~.		The AllCrypt platform was hacked.
	{\| class="wikitable"		{\| class="wikitable"
	\|+Key Event Timeline - Allcrypt		\|+Key Event Timeline - Allcrypt
Line 44:		Line 47:
	!Description		!Description
	\|-		\|-
	\|March ~~1st~~, 2015 ~~12:00:41 AM MST~~		\|?
	\|~~Main Event~~		\|Too Small Tweet
	\|~~Expand this~~ into a ~~brief description of what happened and the impact. If multiple lines are necessary, add them here~~.		\|AllCrypt complains to the world that they are too small so no one cares enough to hack them.
			\|-
			\|March 15th, 2015
			\|WordPress Exploit
			\|A thief manages to get into the AllCrypt Wordpress administration using a marketing director login credential.
	\|-		\|-
	\|		\|March 18th, 2015
	\|		\|Post On Front Of Site
	\|		\|Post is made on the front of the website.
	\|}		\|}

			== Technical Details ==
			“Around 8PM on Sunday (all times EDT) our marketing director’s blog account requested a password reset. […] The MD saw this email come in, and forwarded it to myself, and another team member (a technical lead/temporary assistant support staff), letting us know what happened and that he did not request the password reset. I did not see the email at the time, as I was out, and it was not a huge red flag that would require a phone call. Once I returned home later, I saw the email, and logged into the server to double-check on things. That’s when I discovered the breach.” “The blog post goes on to describe how the attacker managed to upload PHP files to the WordPress site, install Adminer (a web based database management utility similar to PHPMyAdmin) and then create fake crypto currency balances in the system. From there, using a fake account, the attacker could then trade crypto currency and transfer earnings to a Bitcoin wallet owned and controlled by the attacker.”

	== Total Amount Lost ==		== Total Amount Lost ==
Line 60:		Line 70:
	== Immediate Reactions ==		== Immediate Reactions ==
	How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?		How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

			“On March 18, 2015, AllCrypt, a small crypto currency exchange posted what may very well be one of their last posts on their blog. The Bitcoin exchange had been hacked, resulting in stolen crypto currency.” “42 BTC stolen by the hackers” “The stolen Bitcoins might not seem that much, but for a smaller alternative crypto currency exchange even such an amount is not small.”


			“The owner, who appears to be anonymous according to WHOIS information, claims that the site cost him a total of $15,000, and further that they only netted roughly 10 BTC in profits after thirteen months of operation.”

			“Between hardware and operating costs, I am personally down over $15,000. Believe me – I feel your pain as well. No one on the site had as much on the servers as I personally did. Not that I expect pity or compassion, but I think it’s important to know that I’m not retiring to a private island because of this. I also think it’s important to be as open as possible to assuage any fears of an inside job.”

			In response to a customer after the hack - “I see you running an exchange successfully, I’ll take your advice. Wait, you don’t run an exchange? You’re unemployed? Thanks for the input.”

	== Ultimate Outcome ==		== Ultimate Outcome ==

Azoundria at 23:58, 12 April 2023

2023-04-12T23:58:35Z

← Older revision		Revision as of 17:58, 12 April 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/allcrypt.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/allcrypt.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided.		It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided.

	The country for this case study is not yet known.		The country for this case study is not yet known.<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />
	<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />

	== About AllCrypt ==		== About AllCrypt ==
Line 45:		Line 44:
	!Description		!Description
	\|-		\|-
	\|March 1st, 2015 12:00:41 AM		\|March 1st, 2015 12:00:41 AM MST
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
Line 72:		Line 71:
	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== General Prevention Policies ==
			Coming soon.
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

	== Prevention Policies ==		== Platform Prevention Policies ==
	~~Coming soon.~~		{{Prevention:Platforms:Placeholder}}

			{{Prevention:Platforms:End}}

			== Regulatory Prevention Policies ==
			{{Prevention:Regulators:Placeholder}}

			{{Prevention:Regulators:End}}

	== References ==		== References ==
	<references><ref name="acunetix-203">[https://www.acunetix.com/blog/articles/lessons-to-learn-from-the-allcrypt-hack/ Lessons to Learn from the AllCrypt Hack \| Acunetix] (Mar 1, 2020)</ref>		<references><ref name="acunetix-203">[https://www.acunetix.com/blog/articles/lessons-to-learn-from-the-allcrypt-hack/ Lessons to Learn from the AllCrypt Hack \| Acunetix] (Mar 2, 2020)</ref>

	<ref name="ccn-204">[https://www.ccn.com/allcrypt-bitcoin-exchange-clears-air/ BTC-e Exchange Adds Dash And Ethereum Bitcoin Trading Pairs] (Mar 1, 2020)</ref>		<ref name="ccn-204">[https://www.ccn.com/allcrypt-bitcoin-exchange-clears-air/ BTC-e Exchange Adds Dash And Ethereum Bitcoin Trading Pairs] (Mar 2, 2020)</ref>

	<ref name="googledoc-205">[https://docs.google.com/document/d/1PUs2inw65GUNVmRabBjbtumo0aepdKygWfKPbmht-CE/edit Exchange Closure and Settlement - Google Docs] (Mar 1, 2020)</ref>		<ref name="googledoc-205">[https://docs.google.com/document/d/1PUs2inw65GUNVmRabBjbtumo0aepdKygWfKPbmht-CE/edit Exchange Closure and Settlement - Google Docs] (Mar 2, 2020)</ref>

	<ref name="reddit-206">[https://www.reddit.com/r/CryptoMarkets/comments/21evpv/allcryptcom_hack_resolution_hacked_stopped/ AllCrypt.com hack resolution. Hacked, stopped, repaired, back up (in 3 days), coins recovered (in 5 days). : CryptoMarkets] (Mar 1, 2020)</ref></references>		<ref name="reddit-206">[https://www.reddit.com/r/CryptoMarkets/comments/21evpv/allcryptcom_hack_resolution_hacked_stopped/ AllCrypt.com hack resolution. Hacked, stopped, repaired, back up (in 3 days), coins recovered (in 5 days). : CryptoMarkets] (Mar 2, 2020)</ref></references>

Azoundria at 00:51, 16 February 2023

2023-02-16T00:51:52Z

← Older revision		Revision as of 18:51, 15 February 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/allcrypt.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/allcrypt.php}}
			{{Unattributed Citations}}

	It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided.		It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided.

	The country for this case study is not yet known.		The country for this case study is not yet known.
			<ref name="acunetix-203" /><ref name="ccn-204" /><ref name="googledoc-205" /><ref name="reddit-206" />

	== About AllCrypt ==		== About AllCrypt ==
Line 23:		Line 25:

	Don't Include:		Don't Include:

	* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.		* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
	* Anything that wasn't reasonably knowable at the time of the event.		* Anything that wasn't reasonably knowable at the time of the event.
Line 45:		Line 46:
	\|-		\|-
	\|March 1st, 2015 12:00:41 AM		\|March 1st, 2015 12:00:41 AM
	\|~~First~~ Event		\|Main Event
	\|~~This is an expanded~~ description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
Line 58:		Line 55:

	== Total Amount Lost ==		== Total Amount Lost ==
	The total amount lost ~~is unknown~~.		The total amount lost has been estimated at $12,000 USD.

	How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?		How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
Line 69:		Line 66:

	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~It is unknown how much was~~ recovered.		There do not appear to have been any funds recovered in this case.

	What funds were recovered? What funds were reimbursed for those affected users?		What funds were recovered? What funds were reimbursed for those affected users?
Line 80:		Line 77:

	== References ==		== References ==
	[https://www.acunetix.com/blog/articles/lessons-to-learn-from-the-allcrypt-hack/ Lessons to Learn from the AllCrypt Hack \| Acunetix] (Mar 1)		<references><ref name="acunetix-203">[https://www.acunetix.com/blog/articles/lessons-to-learn-from-the-allcrypt-hack/ Lessons to Learn from the AllCrypt Hack \| Acunetix] (Mar 1, 2020)</ref>

	[https://www.ccn.com/allcrypt-bitcoin-exchange-clears-air/ BTC-e Exchange Adds Dash And Ethereum Bitcoin Trading Pairs] (Mar 1)		<ref name="ccn-204">[https://www.ccn.com/allcrypt-bitcoin-exchange-clears-air/ BTC-e Exchange Adds Dash And Ethereum Bitcoin Trading Pairs] (Mar 1, 2020)</ref>

	[https://docs.google.com/document/d/1PUs2inw65GUNVmRabBjbtumo0aepdKygWfKPbmht-CE/edit Exchange Closure and Settlement - Google Docs] (Mar 1)		<ref name="googledoc-205">[https://docs.google.com/document/d/1PUs2inw65GUNVmRabBjbtumo0aepdKygWfKPbmht-CE/edit Exchange Closure and Settlement - Google Docs] (Mar 1, 2020)</ref>

	[https://www.reddit.com/r/CryptoMarkets/comments/21evpv/allcryptcom_hack_resolution_hacked_stopped/ AllCrypt.com hack resolution. Hacked, stopped, repaired, back up (in 3 days), coins recovered (in 5 days). : CryptoMarkets] (Mar 1)		<ref name="reddit-206">[https://www.reddit.com/r/CryptoMarkets/comments/21evpv/allcryptcom_hack_resolution_hacked_stopped/ AllCrypt.com hack resolution. Hacked, stopped, repaired, back up (in 3 days), coins recovered (in 5 days). : CryptoMarkets] (Mar 1, 2020)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/allcrypt.php}} It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided. T..."

2023-01-24T20:44:45Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/allcrypt.php}} It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided. T..."

New page

{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/allcrypt.php}}

It’s always fascinating to hear about an essentially anonymous exchange operator who secured the exchange only with Wordpress, taunted hackers on Twitter, and then was rude to customers after the fact. Luckily, this exchange didn’t achieve any significant volume, which is not surprising. Had they invested in a simple multi-sig cold storage wallet, all could have been avoided.

The country for this case study is not yet known.

== About AllCrypt ==
“On March 18, 2015, AllCrypt, a small crypto currency exchange posted what may very well be one of their last posts on their blog. The Bitcoin exchange had been hacked, resulting in stolen crypto currency.” “42 BTC stolen by the hackers” “The stolen Bitcoins might not seem that much, but for a smaller alternative crypto currency exchange even such an amount is not small.” “Around 8PM on Sunday (all times EDT) our marketing director’s blog account requested a password reset. […] The MD saw this email come in, and forwarded it to myself, and another team member (a technical lead/temporary assistant support staff), letting us know what happened and that he did not request the password reset. I did not see the email at the time, as I was out, and it was not a huge red flag that would require a phone call. Once I returned home later, I saw the email, and logged into the server to double-check on things. That’s when I discovered the breach.” “The blog post goes on to describe how the attacker managed to upload PHP files to the WordPress site, install Adminer (a web based database management utility similar to PHPMyAdmin) and then create fake crypto currency balances in the system. From there, using a fake account, the attacker could then trade crypto currency and transfer earnings to a Bitcoin wallet owned and controlled by the attacker.” “The owner, who appears to be anonymous according to WHOIS information, claims that the site cost him a total of $15,000, and further that they only netted roughly 10 BTC in profits after thirteen months of operation.” “Between hardware and operating costs, I am personally down over $15,000. Believe me – I feel your pain as well. No one on the site had as much on the servers as I personally did. Not that I expect pity or compassion, but I think it’s important to know that I’m not retiring to a private island because of this. I also think it’s important to be as open as possible to assuage any fears of an inside job.” In response to a customer after the hack - “I see you running an exchange successfully, I’ll take your advice. Wait, you don’t run an exchange? You’re unemployed? Thanks for the input.” “Ironically AllCrypt tweeted “Too small and insignificant to be a target of the hacks this week. Your coins are safe here because no one cares to hack us” on 2/16/2015 (twitter: All_Crypt/status/567551838719705091)”

The country for this case study is not yet known.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

* Known history of when and how the service was started.
* What problems does the company or service claim to solve?
* What marketing materials were used by the firm or business?
* Audits performed, and excerpts that may have been included.
* Business registration documents shown (fake or legitimate).
* How were people recruited to participate?
* Public warnings and announcements prior to the event.

Don't Include:

* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
* Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - Allcrypt
!Date
!Event
!Description
|-
|March 1st, 2015 12:00:41 AM
|First Event
|This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

== Ultimate Outcome ==
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

== Total Amount Recovered ==
It is unknown how much was recovered.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?

== Prevention Policies ==
Coming soon.

== References ==
[https://www.acunetix.com/blog/articles/lessons-to-learn-from-the-allcrypt-hack/ Lessons to Learn from the AllCrypt Hack | Acunetix] (Mar 1)

[https://www.ccn.com/allcrypt-bitcoin-exchange-clears-air/ BTC-e Exchange Adds Dash And Ethereum Bitcoin Trading Pairs] (Mar 1)

[https://docs.google.com/document/d/1PUs2inw65GUNVmRabBjbtumo0aepdKygWfKPbmht-CE/edit Exchange Closure and Settlement - Google Docs] (Mar 1)

[https://www.reddit.com/r/CryptoMarkets/comments/21evpv/allcryptcom_hack_resolution_hacked_stopped/ AllCrypt.com hack resolution. Hacked, stopped, repaired, back up (in 3 days), coins recovered (in 5 days). : CryptoMarkets] (Mar 1)