Bitfloor Exchange Hack - Revision history

Azoundria at 00:15, 25 October 2024

2024-10-25T00:15:32Z

← Older revision		Revision as of 18:15, 24 October 2024
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	{{Case Study Under Construction}}{{Unattributed Sources}}		{{Case Study Under Construction}}{{Unattributed Sources}}

	[[File:Bitfloor.jpg\|thumb\|BitFloor Logo/Homepage]]It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.<ref name="bitcoinmagazine-6" /><ref name="newsdotbitcoin-7" /><ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name=":1">https://archive.ph/3yblc</ref><ref>https://bitcoinmagazine.com/markets/bitfloor-shuts-down-1366351632</ref><ref>https://www.bitcoin2013.com/bitcoin-history-the-milestones-of-the-first-cryptocurrency/</ref>		[[File:Bitfloor.jpg\|thumb\|BitFloor Logo/Homepage]]It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.<ref name="bitcoinmagazine-6" /><ref name="newsdotbitcoin-7" /><ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name=":1">https://archive.ph/3yblc</ref><ref>https://bitcoinmagazine.com/markets/bitfloor-shuts-down-1366351632</ref><ref>https://www.bitcoin2013.com/bitcoin-history-the-milestones-of-the-first-cryptocurrency/</ref><ref>https://casetext.com/case/wu-v-bitfloor-inc</ref><ref>https://www.pinterest.com/pin/bitfloor-shuts-down--7740630582081843/</ref>

	== About BitFloor ==		== About BitFloor ==

Azoundria: COMPLETE 30 minutes. Located and added more sources about the BitFloor case. Completed the generation and upload of a full logo image for BitFloor. Added information to the timeline about the Bitcoin 2013 conference and attempts of founder Roman Shtylman. Preparing a promotion on Twitter.

2024-10-24T18:58:24Z

COMPLETE 30 minutes. Located and added more sources about the BitFloor case. Completed the generation and upload of a full logo image for BitFloor. Added information to the timeline about the Bitcoin 2013 conference and attempts of founder Roman Shtylman. Preparing a promotion on Twitter.

← Older revision		Revision as of 12:58, 24 October 2024
Line 1:		Line 1:
	{{Case Study Under Construction}}{{Unattributed Sources}}		{{Case Study Under Construction}}{{Unattributed Sources}}

	[[File:Bitfloor.jpg\|thumb\|BitFloor Logo/Homepage]]It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.<ref name="bitcoinmagazine-6" /><ref name="newsdotbitcoin-7" /><ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" />		[[File:Bitfloor.jpg\|thumb\|BitFloor Logo/Homepage]]It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.<ref name="bitcoinmagazine-6" /><ref name="newsdotbitcoin-7" /><ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name=":1">https://archive.ph/3yblc</ref><ref>https://bitcoinmagazine.com/markets/bitfloor-shuts-down-1366351632</ref><ref>https://www.bitcoin2013.com/bitcoin-history-the-milestones-of-the-first-cryptocurrency/</ref>

	== About BitFloor ==		== About BitFloor ==
	“Bitfloor was” a “[l]eading U.S. Bitcoin exchange” “in September of 2012.”		“Bitfloor was” a “[l]eading U.S. Bitcoin exchange” “in September of 2012.”

	"Mr Shtylman said his New York-based service was the biggest of its kind in the US and the fourth largest in the world."<ref name="bbc-7172" />		Bitfloor was founded by Roman Shtylman. "Mr Shtylman said his New York-based service was the biggest of its kind in the US and the fourth largest in the world."<ref name="bbc-7172" />

	== The Reality ==		== The Reality ==
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	\|Final Repayment		\|Final Repayment
	\|The final repayment from the BitFloor exchange operator<ref>[https://en.bitcoin.it/wiki/Bitfloor Bitfloor - Bitcoin Wiki] (Accessed Oct 22, 2024)</ref>.		\|The final repayment from the BitFloor exchange operator<ref>[https://en.bitcoin.it/wiki/Bitfloor Bitfloor - Bitcoin Wiki] (Accessed Oct 22, 2024)</ref>.
			\|-
			\|May 18th, 2013
			\|Bitcoin 2013 Meeting
			\|Reported/speculated that Roman Shtylman reached out to the Internet Archive's IAFCU (Internet Archive Federal Credit Union) after a presentation at the Bitcoin 2013 conference<ref>[https://www.coindesk.com/markets/2013/05/17/bitcoin-2013-to-draw-1000-and-the-winklevii-to-san-jose-this-weekend/ Bitcoin 2013 to draw 1,000, and the Winklevii, to San Jose this weekend - CoinDesk] (Accessed Oct 24, 2024)</ref><ref>[https://www.wired.com/2013/07/iafcu/ The Internet Archive Rescues Bitcoiners From Banking Oblivion - Wired] (Accessed Oct 24, 2024)</ref>.
			\|-
			\|August 5th, 2013 1:44:51 PM MDT
			\|Repayments In Progress
			\|According to a capture of the BitFloor website, repayments are still in progress, being facilitated by the IAFCU (Internet Archive Federal Credit Union)<ref>https://archive.ph/2QJtb (Accessed Oct 24, 2024)</ref>.
			\|-
			\|March 26th, 2014 11:21:51 AM MDT
			\|Site Still Captured Online
			\|The Bitfloor website is still captured as online<ref name=":1" />.
	\|}		\|}

Azoundria at 16:20, 24 October 2024

2024-10-24T16:20:44Z

← Older revision		Revision as of 10:20, 24 October 2024
Line 1:		Line 1:
	{{Case Study Under Construction}}{{Unattributed Sources}}		{{Case Study Under Construction}}{{Unattributed Sources}}

	It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.<ref name="bitcoinmagazine-6" /><ref name="newsdotbitcoin-7" /><ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" />		[[File:Bitfloor.jpg\|thumb\|BitFloor Logo/Homepage]]It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.<ref name="bitcoinmagazine-6" /><ref name="newsdotbitcoin-7" /><ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" />

	== About BitFloor ==		== About BitFloor ==

Azoundria: COMPLETE 30 minutes. Full review of the wiki article. Updated and inspected sources. Attempted to view the original BitFloor exchange and use other sources to get the original logo. Added information on Bitcoin Show interview. Reviewed lawsuit from 2018-2019 for the BitFloor customers.

2024-10-23T00:01:46Z

COMPLETE 30 minutes. Full review of the wiki article. Updated and inspected sources. Attempted to view the original BitFloor exchange and use other sources to get the original logo. Added information on Bitcoin Show interview. Reviewed lawsuit from 2018-2019 for the BitFloor customers.

← Older revision		Revision as of 18:01, 22 October 2024
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	!Event		!Event
	!Description		!Description
			\|-
			\|February 23rd, 2012 4:55:20 PM MST
			\|The Bitcoin Show YouTube Interview
			\|An interview is conducted and published on The Bitcoin Show with BitFloor founder Roman Shtylman<ref name=":0">[https://www.youtube.com/watch?v=F7SsavHX6tc The Bitcoin Show - 056 - Roman Shtylman of Bitfloor.com - YouTube] (Accessed Oct 22, 2024)</ref>. The interview explores the development of a Bitcoin exchange platform, focusing on user-friendly features and trading options. The speaker highlights the need for simplified trading processes, including a one-time confirmation button for transactions and an "Auto Sell" feature for merchants to manage currency risk effectively. They discuss the launch of a test network for users to practice trading safely and emphasize the importance of clear API documentation and responsive customer support. Additionally, Roman outlines a unique liquidity provider model that rewards users for placing standing orders, encouraging a fuller order book and facilitating better trading conditions. Future plans include revamping the web interface based on user feedback and enhancing reporting features<ref name=":0">[https://www.youtube.com/watch?v=F7SsavHX6tc The Bitcoin Show - 056 - Roman Shtylman of Bitfloor.com - YouTube] (Accessed Oct 22, 2024)</ref>.
	\|-		\|-
	\|September 3rd, 2012 9:07:39 PM MDT		\|September 3rd, 2012 9:07:39 PM MDT
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	\|BBC Article Published		\|BBC Article Published
	\|BBC published an article about the BitFloor exchange. According to the article, "Bitfloor's founder, Roman Shtylman, said he had kept unencrypted keys, which the thief accessed and used to take the money."<ref name="bbc-7172" />		\|BBC published an article about the BitFloor exchange. According to the article, "Bitfloor's founder, Roman Shtylman, said he had kept unencrypted keys, which the thief accessed and used to take the money."<ref name="bbc-7172" />
			\|-
			\|December 2012
			\|Final Repayment
			\|The final repayment from the BitFloor exchange operator<ref>[https://en.bitcoin.it/wiki/Bitfloor Bitfloor - Bitcoin Wiki] (Accessed Oct 22, 2024)</ref>.
	\|}		\|}

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	== 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?~~

	“Four days after, the hackers used a backup copy of the key from the hot wallet of the exchange, where the funds of traders were stored, and withdrew 24,000 BTC.”		“Four days after, the hackers used a backup copy of the key from the hot wallet of the exchange, where the funds of traders were stored, and withdrew 24,000 BTC.”

Azoundria: COMPLETE 30 minutes. Updated the under construction template. Working on filling in initial prevention sections. Update the citations to proper labels. Adding information on timeline and bitcoin transaction.

2024-10-22T01:51:21Z

COMPLETE 30 minutes. Updated the under construction template. Working on filling in initial prevention sections. Update the citations to proper labels. Adding information on timeline and bitcoin transaction.

Show changes

Azoundria at 23:51, 12 April 2023

2023-04-12T23:51:57Z

← Older revision		Revision as of 17:51, 12 April 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bitfloorexchangehack.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/bitfloorexchangehack.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.		It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.

	This exchange or platform is based in United States, or the incident targeted people primarily in United States.		This exchange or platform is based in United States, or the incident targeted people primarily in United States.<ref name="bitcoinmagazine-6" /><ref name="newsdotbitcoin-7" /><ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="bbc-7172" />
	<ref name="bitcoinmagazine-6" /><ref name="newsdotbitcoin-7" /><ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="bbc-7172" />

	== About BitFloor ==		== About BitFloor ==
Line 45:		Line 44:
	!Description		!Description
	\|-		\|-
	\|September 1st, 2012 12:00:13 AM		\|September 1st, 2012 12:00:13 AM MDT
	\|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="bitcoinmagazine-6">[https://bitcoinmagazine.com/articles/infographic-overview-compromised-bitcoin-exchange-events Infographic: An Overview of Compromised Bitcoin Exchange Events] (Jan 29, 2020)</ref>		<references><ref name="bitcoinmagazine-6">[https://bitcoinmagazine.com/articles/infographic-overview-compromised-bitcoin-exchange-events Infographic: An Overview of Compromised Bitcoin Exchange Events] (Jan 30, 2020)</ref>

	<ref name="newsdotbitcoin-7">[https://news.bitcoin.com/bitcoin-exchange-thefts-forgotten/ The Bitcoin Exchange Thefts You May Have Forgotten \| Featured Bitcoin News] (Jan 28, 2020)</ref>		<ref name="newsdotbitcoin-7">[https://news.bitcoin.com/bitcoin-exchange-thefts-forgotten/ The Bitcoin Exchange Thefts You May Have Forgotten \| Featured Bitcoin News] (Jan 29, 2020)</ref>

	<ref name="bitcointalklistold-20">[https://bitcointalk.org/index.php?topic=83794.msg923918#post_toc_27 <nowiki>List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old]</nowiki>] (Jan 27, 2020)</ref>		<ref name="bitcointalklistold-20">[https://bitcointalk.org/index.php?topic=83794.msg923918#post_toc_27 <nowiki>List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old]</nowiki>] (Jan 28, 2020)</ref>

	<ref name="kylegibson-86">[https://medium.com/@kylegibson/100-crypto-thefts-a-timeline-of-hacks-glitches-exit-scams-and-other-lost-cryptocurrency-873c87fd5522 100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents] (Jan 25, 2020)</ref>		<ref name="kylegibson-86">[https://medium.com/@kylegibson/100-crypto-thefts-a-timeline-of-hacks-glitches-exit-scams-and-other-lost-cryptocurrency-873c87fd5522 100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents] (Jan 25, 2020)</ref>
Line 87:		Line 99:
	<ref name="bitcointalklist-87">[https://bitcointalk.org/index.php?topic=576337 List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses] (Feb 15, 2020)</ref>		<ref name="bitcointalklist-87">[https://bitcointalk.org/index.php?topic=576337 List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses] (Feb 15, 2020)</ref>

	<ref name="cointelegraph-197">[https://cointelegraph.com/news/crypto-exchange-hacks-in-review-proactive-steps-and-expert-advice Crypto Exchange Hacks in Review: Proactive Steps and Expert Advice] (Mar 1, 2020)</ref>		<ref name="cointelegraph-197">[https://cointelegraph.com/news/crypto-exchange-hacks-in-review-proactive-steps-and-expert-advice Crypto Exchange Hacks in Review: Proactive Steps and Expert Advice] (Mar 2, 2020)</ref>

	<ref name="coinsutra-202">[https://coinsutra.com/biggest-bitcoin-hacks/ Top 6 Biggest Bitcoin Hacks Ever] (Mar 1, 2020)</ref>		<ref name="coinsutra-202">[https://coinsutra.com/biggest-bitcoin-hacks/ Top 6 Biggest Bitcoin Hacks Ever] (Mar 2, 2020)</ref>

	<ref name="bitcoinexchangeguide-218">[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 5, 2020)</ref>		<ref name="bitcoinexchangeguide-218">[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 5, 2020)</ref>

	<ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25, 2021)</ref>		<ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 26, 2021)</ref>

	<ref name="bbc-7172">[https://www.bbc.com/news/technology-19486695 https://www.bbc.com/news/technology-19486695] (Mar 15, 2022)</ref></references>		<ref name="bbc-7172">[https://www.bbc.com/news/technology-19486695 https://www.bbc.com/news/technology-19486695] (Mar 15, 2022)</ref></references>

Azoundria at 20:52, 15 February 2023

2023-02-15T20:52:48Z

← Older revision		Revision as of 14:52, 15 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bitfloorexchangehack.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bitfloorexchangehack.php}}
			{{Unattributed Citations}}

	It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.		It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.

	This exchange or platform is based in United States, or the incident targeted people primarily in United States.		This exchange or platform is based in United States, or the incident targeted people primarily in United States.
			<ref name="bitcoinmagazine-6" /><ref name="newsdotbitcoin-7" /><ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="bbc-7172" />

	== About BitFloor ==		== About BitFloor ==
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:
	\|-		\|-
	\|September 1st, 2012 12:00:13 AM		\|September 1st, 2012 12:00:13 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 ==
	$240 000 USD		The total amount lost has been estimated at $240,000 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 68:		Line 66:

	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~$0 USD~~		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 78:		Line 77:

	== References ==		== References ==
	[https://bitcoinmagazine.com/articles/infographic-overview-compromised-bitcoin-exchange-events Infographic: An Overview of Compromised Bitcoin Exchange Events] (Jan 29)		<references><ref name="bitcoinmagazine-6">[https://bitcoinmagazine.com/articles/infographic-overview-compromised-bitcoin-exchange-events Infographic: An Overview of Compromised Bitcoin Exchange Events] (Jan 29, 2020)</ref>

	[https://news.bitcoin.com/bitcoin-exchange-thefts-forgotten/ The Bitcoin Exchange Thefts You May Have Forgotten \| Featured Bitcoin News] (Jan 28)		<ref name="newsdotbitcoin-7">[https://news.bitcoin.com/bitcoin-exchange-thefts-forgotten/ The Bitcoin Exchange Thefts You May Have Forgotten \| Featured Bitcoin News] (Jan 28, 2020)</ref>

	[https://bitcointalk.org/index.php?topic=83794.msg923918#post_toc_27 <nowiki>List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old]</nowiki>] (Jan 27)		<ref name="bitcointalklistold-20">[https://bitcointalk.org/index.php?topic=83794.msg923918#post_toc_27 <nowiki>List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old]</nowiki>] (Jan 27, 2020)</ref>

	[https://medium.com/@kylegibson/100-crypto-thefts-a-timeline-of-hacks-glitches-exit-scams-and-other-lost-cryptocurrency-873c87fd5522 100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents] (Jan 24)		<ref name="kylegibson-86">[https://medium.com/@kylegibson/100-crypto-thefts-a-timeline-of-hacks-glitches-exit-scams-and-other-lost-cryptocurrency-873c87fd5522 100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents] (Jan 25, 2020)</ref>

	[https://bitcointalk.org/index.php?topic=576337 List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses] (Feb 14)		<ref name="bitcointalklist-87">[https://bitcointalk.org/index.php?topic=576337 List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses] (Feb 15, 2020)</ref>

	[https://cointelegraph.com/news/crypto-exchange-hacks-in-review-proactive-steps-and-expert-advice Crypto Exchange Hacks in Review: Proactive Steps and Expert Advice] (Mar 1)		<ref name="cointelegraph-197">[https://cointelegraph.com/news/crypto-exchange-hacks-in-review-proactive-steps-and-expert-advice Crypto Exchange Hacks in Review: Proactive Steps and Expert Advice] (Mar 1, 2020)</ref>

	[https://coinsutra.com/biggest-bitcoin-hacks/ Top 6 Biggest Bitcoin Hacks Ever] (Mar 1)		<ref name="coinsutra-202">[https://coinsutra.com/biggest-bitcoin-hacks/ Top 6 Biggest Bitcoin Hacks Ever] (Mar 1, 2020)</ref>

	[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 4)		<ref name="bitcoinexchangeguide-218">[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 5, 2020)</ref>

	[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25)		<ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25, 2021)</ref>

	[https://www.bbc.com/news/technology-19486695 https://www.bbc.com/news/technology-19486695] (Mar 15)		<ref name="bbc-7172">[https://www.bbc.com/news/technology-19486695 https://www.bbc.com/news/technology-19486695] (Mar 15, 2022)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bitfloorexchangehack.php}} It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end..."

2023-01-21T06:18:50Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bitfloorexchangehack.php}} It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end..."

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

It’s reported that "the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area)." It’s unclear from the forum discussion if a proper wallet structure was used, however it was definitely not multi-sig, and obviously none of it was insured. None of the customers were able to retrieve any of their funds in the end.

This exchange or platform is based in United States, or the incident targeted people primarily in United States.

== About BitFloor ==
“Leading U.S. Bitcoin exchange Bitfloor was breached in September of 2012, losing over 24,000 BTC during the incident. Bitfloor explained at the time that the exchange’s hot wallet data was mistakenly held on the company’s servers which led to the hack. No bitcoins were returned to customers after the hack even though the company resumed trading and promised restitution. “As funds are available for repayment, they will be dispersed on a pro-rated basis,” explained Bitfloor’s founder and operator Roman Shtylman. However, according to the company, Bitfloor’s banks had ceased doing business with the startup and customers never saw their funds again.” “It all started when the exchange’s server crashed, either under the influence of a DDoS-attack or because of a power outage in the data center — as was claimed by its owner Roman Shtylman.” “Four days after, the hackers used a backup copy of the key from the hot wallet of the exchange, where the funds of traders were stored, and withdrew 24,000 BTC. Shtilman made an unsuccessful attempt to compensate the victims by selling a stake in BitFloor's property, but could not find an interested party. In 2013, the exchange closed, leaving the affected investors with nothing.”

This exchange or platform is based in United States, or the incident targeted people primarily in United States.

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 - Bitfloor Exchange Hack
!Date
!Event
!Description
|-
|September 1st, 2012 12:00:13 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 ==
$240 000 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 ==
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 ==
$0 USD
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://bitcoinmagazine.com/articles/infographic-overview-compromised-bitcoin-exchange-events Infographic: An Overview of Compromised Bitcoin Exchange Events] (Jan 29)

[https://news.bitcoin.com/bitcoin-exchange-thefts-forgotten/ The Bitcoin Exchange Thefts You May Have Forgotten | Featured Bitcoin News] (Jan 28)

[https://bitcointalk.org/index.php?topic=83794.msg923918#post_toc_27 <nowiki>List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old]</nowiki>] (Jan 27)

[https://medium.com/@kylegibson/100-crypto-thefts-a-timeline-of-hacks-glitches-exit-scams-and-other-lost-cryptocurrency-873c87fd5522 100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents] (Jan 24)

[https://bitcointalk.org/index.php?topic=576337 List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses] (Feb 14)

[https://cointelegraph.com/news/crypto-exchange-hacks-in-review-proactive-steps-and-expert-advice Crypto Exchange Hacks in Review: Proactive Steps and Expert Advice] (Mar 1)

[https://coinsutra.com/biggest-bitcoin-hacks/ Top 6 Biggest Bitcoin Hacks Ever] (Mar 1)

[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 4)

[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25)

[https://www.bbc.com/news/technology-19486695 https://www.bbc.com/news/technology-19486695] (Mar 15)