Bithumb EOS/XRP Hack - Revision history

Azoundria: Another 30 minutes complete. Additional sources merged in. Information moved around.

2023-11-29T23:18:19Z

Another 30 minutes complete. Additional sources merged in. Information moved around.

Azoundria at 22:21, 29 November 2023

2023-11-29T22:21:31Z

← Older revision		Revision as of 16:21, 29 November 2023
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	{{Unattributed Sources}}		{{Unattributed Sources}}

	This hacking took place after a government security inspection by South Korea. EOS and Ripple tokens were taken from presumably insecure wallets. As is the typical case, this is yet another case where tokens were taken from a wallet without multi-sig.		[[File:Bithumb.jpg\|thumb\|Bithumb]]This hacking took place after a government security inspection by South Korea. EOS and Ripple tokens were taken from presumably insecure wallets. As is the typical case, this is yet another case where tokens were taken from a wallet without multi-sig.

	This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea.<ref name="coindesk-29" /><ref name="ciphertrace-99" /><ref name="cointelegraph-130" /><ref name="fintechnews-164" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="cryptoxdirectory-2276" /><ref name="youniversitytv-7677" />		This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea.<ref name="coindesk-29" /><ref name="ciphertrace-99" /><ref name="cointelegraph-130" /><ref name="fintechnews-164" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="cryptoxdirectory-2276" /><ref name="youniversitytv-7677" /><ref name="carnegieendowment-9983" /><ref name="mycryptoblog-10095" />

	== About Bithumb ==		== About Bithumb ==
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	<ref name="cryptoxdirectory-2276">[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 8, 2021)</ref>		<ref name="cryptoxdirectory-2276">[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 8, 2021)</ref>

	<ref name="youniversitytv-7677">[https://www.youniversitytv.com/crypto-blockchain/korean-self-regulatory-crypto-industry-body-under-question-after-12-crypto-exchanges-approved/ Korean Self-regulatory Crypto Industry Body Under Question After 12 Crypto Exchanges Approved \| YOUniversityTV] (May 8, 2022)</ref></references>		<ref name="youniversitytv-7677">[https://www.youniversitytv.com/crypto-blockchain/korean-self-regulatory-crypto-industry-body-under-question-after-12-crypto-exchanges-approved/ Korean Self-regulatory Crypto Industry Body Under Question After 12 Crypto Exchanges Approved \| YOUniversityTV] (May 8, 2022)</ref>

			<ref name="carnegieendowment-9983">[https://carnegieendowment.org/specialprojects/protectingfinancialstability/timeline Timeline of Cyber Incidents Involving Financial Institutions - Carnegie Endowment for International Peace] (Dec 12, 2022)</ref>

			<ref name="mycryptoblog-10095">[https://blog.mycrypto.com/2019-in-review--major-blockchain-crypto-security-incidents 2019 In Review: Major Blockchain/Crypto Security Incidents \| MyCrypto Blog] (Dec 28, 2022)</ref></references>

Azoundria at 18:59, 1 May 2023

2023-05-01T18:59:29Z

← Older revision		Revision as of 12:59, 1 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bithumbeosxrphack.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/bithumbeosxrphack.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	This hacking took place after a government security inspection by South Korea. EOS and Ripple tokens were taken from presumably insecure wallets. As is the typical case, this is yet another case where tokens were taken from a wallet without multi-sig.		This hacking took place after a government security inspection by South Korea. EOS and Ripple tokens were taken from presumably insecure wallets. As is the typical case, this is yet another case where tokens were taken from a wallet without multi-sig.

	This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea.		This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea.<ref name="coindesk-29" /><ref name="ciphertrace-99" /><ref name="cointelegraph-130" /><ref name="fintechnews-164" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="cryptoxdirectory-2276" /><ref name="youniversitytv-7677" />
	<ref name="coindesk-29" /><ref name="ciphertrace-99" /><ref name="cointelegraph-130" /><ref name="fintechnews-164" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="cryptoxdirectory-2276" /><ref name="youniversitytv-7677" />

	== About Bithumb ==		== About Bithumb ==
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	!Description		!Description
	\|-		\|-
	\|March 1st, 2019 12:01:18 AM		\|March 1st, 2019 12:01:18 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.
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	\|		\|
	\|}		\|}

			== Technical Details ==
			This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

	== Total Amount Lost ==		== Total Amount Lost ==
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	== 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}}

			== Platform Prevention Policies ==
			{{Prevention:Platforms:Placeholder}}

			{{Prevention:Platforms:End}}

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

	== Prevention ~~Policies ==~~		{{Prevention:Regulators:End}}
	~~Coming soon.~~

	== References ==		== References ==
	<references><ref name="coindesk-29">[https://www.coindesk.com/upbit-is-the-sixth-major-crypto-exchange-hack-of-2019 Upbit Is the Seventh Major Crypto Exchange Hack of 2019 - CoinDesk] (Feb 3, 2020)</ref>		<references><ref name="coindesk-29">[https://www.coindesk.com/upbit-is-the-sixth-major-crypto-exchange-hack-of-2019 Upbit Is the Seventh Major Crypto Exchange Hack of 2019 - CoinDesk] (Feb 4, 2020)</ref>

	<ref name="ciphertrace-99">[https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/ Q1 2019 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (Feb 19, 2020)</ref>		<ref name="ciphertrace-99">[https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/ Q1 2019 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (Feb 20, 2020)</ref>

	<ref name="cointelegraph-130">[https://cointelegraph.com/news/most-significant-hacks-of-2019-new-record-of-twelve-in-one-year Most Significant Hacks of 2019 — New Record of Twelve in One Year] (Feb 22, 2020)</ref>		<ref name="cointelegraph-130">[https://cointelegraph.com/news/most-significant-hacks-of-2019-new-record-of-twelve-in-one-year Most Significant Hacks of 2019 — New Record of Twelve in One Year] (Feb 23, 2020)</ref>

	<ref name="fintechnews-164">[https://fintechnews.sg/23594/blockchain/cryptocurrency-hack-binance/ A Look Back on Some of the Most Devastating Crypto Hacks \| Fintech Singapore] (Feb 26, 2020)</ref>		<ref name="fintechnews-164">[https://fintechnews.sg/23594/blockchain/cryptocurrency-hack-binance/ A Look Back on Some of the Most Devastating Crypto Hacks \| Fintech Singapore] (Feb 27, 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="cryptoxdirectory-2276">[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 7, 2021)</ref>		<ref name="cryptoxdirectory-2276">[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 8, 2021)</ref>

	<ref name="youniversitytv-7677">[https://www.youniversitytv.com/crypto-blockchain/korean-self-regulatory-crypto-industry-body-under-question-after-12-crypto-exchanges-approved/ Korean Self-regulatory Crypto Industry Body Under Question After 12 Crypto Exchanges Approved \| YOUniversityTV] (May 8, 2022)</ref></references>		<ref name="youniversitytv-7677">[https://www.youniversitytv.com/crypto-blockchain/korean-self-regulatory-crypto-industry-body-under-question-after-12-crypto-exchanges-approved/ Korean Self-regulatory Crypto Industry Body Under Question After 12 Crypto Exchanges Approved \| YOUniversityTV] (May 8, 2022)</ref></references>

Azoundria at 08:00, 17 February 2023

2023-02-17T08:00:28Z

← Older revision		Revision as of 02:00, 17 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bithumbeosxrphack.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bithumbeosxrphack.php}}
			{{Unattributed Citations}}

	This hacking took place after a government security inspection by South Korea. EOS and Ripple tokens were taken from presumably insecure wallets. As is the typical case, this is yet another case where tokens were taken from a wallet without multi-sig.		This hacking took place after a government security inspection by South Korea. EOS and Ripple tokens were taken from presumably insecure wallets. As is the typical case, this is yet another case where tokens were taken from a wallet without multi-sig.

	This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea.		This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea.
			<ref name="coindesk-29" /><ref name="ciphertrace-99" /><ref name="cointelegraph-130" /><ref name="fintechnews-164" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="cryptoxdirectory-2276" /><ref name="youniversitytv-7677" />

	== About Bithumb ==		== About Bithumb ==
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, 2019 12:01:18 AM		\|March 1st, 2019 12:01:18 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 $19,200,000 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?
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	== 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.coindesk.com/upbit-is-the-sixth-major-crypto-exchange-hack-of-2019 Upbit Is the Seventh Major Crypto Exchange Hack of 2019 - CoinDesk] (Feb 3)		<references><ref name="coindesk-29">[https://www.coindesk.com/upbit-is-the-sixth-major-crypto-exchange-hack-of-2019 Upbit Is the Seventh Major Crypto Exchange Hack of 2019 - CoinDesk] (Feb 3, 2020)</ref>

	[https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/ Q1 2019 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (Feb 19)		<ref name="ciphertrace-99">[https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/ Q1 2019 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (Feb 19, 2020)</ref>

	[https://cointelegraph.com/news/most-significant-hacks-of-2019-new-record-of-twelve-in-one-year Most Significant Hacks of 2019 — New Record of Twelve in One Year] (Feb 22)		<ref name="cointelegraph-130">[https://cointelegraph.com/news/most-significant-hacks-of-2019-new-record-of-twelve-in-one-year Most Significant Hacks of 2019 — New Record of Twelve in One Year] (Feb 22, 2020)</ref>

	[https://fintechnews.sg/23594/blockchain/cryptocurrency-hack-binance/ A Look Back on Some of the Most Devastating Crypto Hacks \| Fintech Singapore] (Feb 26)		<ref name="fintechnews-164">[https://fintechnews.sg/23594/blockchain/cryptocurrency-hack-binance/ A Look Back on Some of the Most Devastating Crypto Hacks \| Fintech Singapore] (Feb 26, 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://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 7)		<ref name="cryptoxdirectory-2276">[https://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 7, 2021)</ref>

	[https://www.youniversitytv.com/crypto-blockchain/korean-self-regulatory-crypto-industry-body-under-question-after-12-crypto-exchanges-approved/ Korean Self-regulatory Crypto Industry Body Under Question After 12 Crypto Exchanges Approved \| YOUniversityTV] (May 8)		<ref name="youniversitytv-7677">[https://www.youniversitytv.com/crypto-blockchain/korean-self-regulatory-crypto-industry-body-under-question-after-12-crypto-exchanges-approved/ Korean Self-regulatory Crypto Industry Body Under Question After 12 Crypto Exchanges Approved \| YOUniversityTV] (May 8, 2022)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bithumbeosxrphack.php}} This hacking took place after a government security inspection by South Korea. EOS and Ripple tokens were taken from presumably insecure wallets. As is the typical case, this is yet another case where tokens were taken from a wallet without multi-sig. This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea. == About Bith..."

2023-01-24T23:32:51Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bithumbeosxrphack.php}} This hacking took place after a government security inspection by South Korea. EOS and Ripple tokens were taken from presumably insecure wallets. As is the typical case, this is yet another case where tokens were taken from a wallet without multi-sig. This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea. == About Bith..."

New page

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

This hacking took place after a government security inspection by South Korea. EOS and Ripple tokens were taken from presumably insecure wallets. As is the typical case, this is yet another case where tokens were taken from a wallet without multi-sig.

This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea.

== About Bithumb ==
“Bithumb, South Korea’s largest crypto exchange platform, was hit by hackers in March and lost about $19.2 million with EOS accounting for $13 million and about $6.2 million worth of XRP. The company suspected that the operation was carried out by an insider because of what it described as an “abnormal withdrawal”. The company said all lost funds were owned by Bithumb and no users were affected.”

This exchange or platform is based in South Korea, or the incident targeted people primarily in South Korea.

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 - Bithumb EOS/XRP Hack
!Date
!Event
!Description
|-
|March 1st, 2019 12:01:18 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.coindesk.com/upbit-is-the-sixth-major-crypto-exchange-hack-of-2019 Upbit Is the Seventh Major Crypto Exchange Hack of 2019 - CoinDesk] (Feb 3)

[https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/ Q1 2019 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (Feb 19)

[https://cointelegraph.com/news/most-significant-hacks-of-2019-new-record-of-twelve-in-one-year Most Significant Hacks of 2019 — New Record of Twelve in One Year] (Feb 22)

[https://fintechnews.sg/23594/blockchain/cryptocurrency-hack-binance/ A Look Back on Some of the Most Devastating Crypto Hacks | Fintech Singapore] (Feb 26)

[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://cryptoxdirectory.com/hacked_2019 The 23 exchange hacks of 2019] (Aug 7)

[https://www.youniversitytv.com/crypto-blockchain/korean-self-regulatory-crypto-industry-body-under-question-after-12-crypto-exchanges-approved/ Korean Self-regulatory Crypto Industry Body Under Question After 12 Crypto Exchanges Approved | YOUniversityTV] (May 8)