Bitstamp Hot Wallet Hack - Revision history

Azoundria: Another 30 minutes complete. Integrated blockchain transaction data to get actual date of breach. Timeline information. Prevention. Other sources integrated further.

2024-01-03T18:33:33Z

Another 30 minutes complete. Integrated blockchain transaction data to get actual date of breach. Timeline information. Prevention. Other sources integrated further.

@@ Line 5: / Line 5: @@
 <ref name="bravenewcoin-207" /><ref name="coindesk-208" /><ref>http://www.reuters.com/article/2015/01/06/us-bitstamp-cybersecurity-idUSKBN0KF0UH20150106<nowiki/>Dec 11, 2023)(
-</ref>
+</ref><ref>[https://thedatascientist.com/cryptocurrency-security-threats-from-mt-gox-to-bitstamp/#:~:text=In%20January%202015%2C%20hackers%20targeted,(%245%20million)%20were%20stolen. Cryptocurrency Security Threats: From Mt Gox To Bitstamp - The Data Scientist] (Jan 3, 2024)</ref><ref>[https://web.archive.org/web/20221105221349/https://www.scribd.com/doc/270137312/Bitstamp-Incident-Report-2-20-15 Bitstamp Incident Report Content Removed] (Jan 3, 2024)</ref>
 == About Bitstamp ==
@@ Line 36: / Line 54: @@
 !Event
 !Description
 |-
 |January 4th, 2015
@@ Line 122: / Line 156: @@
 <blockquote>No, the team and physical operations remain in the EU. Some of our team was in the US during the breach, but no operations were moved.<ref name="bitstamp-196" /></blockquote>
 == Total Amount Lost ==
@@ Line 197: / Line 236: @@
 Coming soon.
 == Individual Prevention Policies ==
-{{Prevention:Individuals:Placeholder}}
+{{Prevention:Individuals:Avoid Third Party Custodians}}
 {{Prevention:Individuals:End}}
 == Platform Prevention Policies ==
-{{Prevention:Platforms:Placeholder}}
+{{Prevention:Platforms:Implement Multi-Signature}}
 {{Prevention:Platforms:End}}
 == Regulatory Prevention Policies ==
-{{Prevention:Regulators:Placeholder}}
+{{Prevention:Regulators:Platform Security Assessments}}
 {{Prevention:Regulators:End}}

Azoundria: Review and add withdrawal suspension date.

2023-12-15T17:32:51Z

Review and add withdrawal suspension date.

← Older revision		Revision as of 11:32, 15 December 2023
Line 40:		Line 40:
	\|Breach Occurs		\|Breach Occurs
	\|Bitstamp reports that the breach happened on January 4th<ref name="bitstamp-196" />.		\|Bitstamp reports that the breach happened on January 4th<ref name="bitstamp-196" />.
			\|-
			\|January 5th, 2015 2:00:00 AM MST
			\|Withdrawals Reportedly Suspended
			\|Withdrawals were reportedly suspended at 9 AM UTC on January 5th<ref name="coinsutra-202" />.
	\|-		\|-
	\|January 5th, 2015 3:29:35 PM MST		\|January 5th, 2015 3:29:35 PM MST

Azoundria: Another 30 minutes. Review and revise the introduction and intiial description. Extensive review and integration of CoinTelegraph article. Update and organization of the technical details. Added in the initial case notice. Conflicting details on whether funds were recovered.

2023-12-15T17:28:00Z

Another 30 minutes. Review and revise the introduction and intiial description. Extensive review and integration of CoinTelegraph article. Update and organization of the technical details. Added in the initial case notice. Conflicting details on whether funds were recovered.

Show changes

Azoundria: Another 30 minutes complete. Integrating more from the various sources we have here.

2023-12-13T22:17:34Z

Another 30 minutes complete. Integrating more from the various sources we have here.

Show changes

Azoundria: .

2023-12-12T18:31:14Z

← Older revision		Revision as of 12:31, 12 December 2023
Line 142:		Line 142:
	<references>		<references>
	<ref name="bitcoinmagazine-6">[https://bitcoinmagazine.com/articles/infographic-overview-compromised-bitcoin-exchange-events Infographic: An Overview of Compromised Bitcoin Exchange Events - Bitcoin Magazine] (Jan 30, 2020)</ref>		<ref name="bitcoinmagazine-6">[https://bitcoinmagazine.com/articles/infographic-overview-compromised-bitcoin-exchange-events Infographic: An Overview of Compromised Bitcoin Exchange Events - Bitcoin Magazine] (Jan 30, 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 - Kyle Gibson] (Jan 25, 2020)</ref>
	<ref name="ccn-195">[https://www.ccn.com/31-million-tether-hack-linked-to-27000-btc-in-previous-exchange-thefts/ $31 Million Tether Hack Linked to 27,000 BTC in Previous Bitcoin Theft - CCN] (Mar 2, 2020)</ref>		<ref name="ccn-195">[https://www.ccn.com/31-million-tether-hack-linked-to-27000-btc-in-previous-exchange-thefts/ $31 Million Tether Hack Linked to 27,000 BTC in Previous Bitcoin Theft - CCN] (Mar 2, 2020)</ref>
	<ref name="bitstamp-196">[https://www.bitstamp.net/article/relaunch-faq/ Bitstamp - Relaunch FAQ] (Mar 2, 2020)</ref>		<ref name="bitstamp-196">[https://www.bitstamp.net/article/relaunch-faq/ Bitstamp - Relaunch FAQ] (Mar 2, 2020)</ref>

Azoundria: Another 30 minutes complete. Additional sources merged in.

2023-12-12T18:18:35Z

Another 30 minutes complete. Additional sources merged in.

← Older revision		Revision as of 12:18, 12 December 2023
Line 3:		Line 3:
	[[File:Bitstamp.jpg\|thumb\|Bitstamp Logo/Homepage]]Apparently the wallet file (named wallet.dat) was encrypted with only a simple passphrase, which was also stored online. This breach took down one of the largest and most widely used exchanges at the time, bringing down multiple services such as ATMs that sourced their liquidity from Bitstamp. Bitstamp has since set up multi-signature hot wallets through BitGo, while the majority of funds remain in cold storage. No customers of the exchange appear to have lost their funds in the incident.		[[File:Bitstamp.jpg\|thumb\|Bitstamp Logo/Homepage]]Apparently the wallet file (named wallet.dat) was encrypted with only a simple passphrase, which was also stored online. This breach took down one of the largest and most widely used exchanges at the time, bringing down multiple services such as ATMs that sourced their liquidity from Bitstamp. Bitstamp has since set up multi-signature hot wallets through BitGo, while the majority of funds remain in cold storage. No customers of the exchange appear to have lost their funds in the incident.

	~~<ref name="bitcoinmagazine-6" /><ref name="kylegibson-86" /><ref name="ccn-195" />~~<ref name="bitstamp-196" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bravenewcoin-207" /><ref name="coindesk-208" /><ref>http://www.reuters.com/article/2015/01/06/us-bitstamp-cybersecurity-idUSKBN0KF0UH20150106<nowiki/>Dec 11, 2023)(		<ref name="bitstamp-196" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bravenewcoin-207" /><ref name="coindesk-208" /><ref>http://www.reuters.com/article/2015/01/06/us-bitstamp-cybersecurity-idUSKBN0KF0UH20150106<nowiki/>Dec 11, 2023)(

	</ref>		</ref>

	== About Bitstamp ==		== About Bitstamp ==
	Bitstamp is the world's longest-running cryptocurrency exchange<ref name="wikipedia-4367" />.		Bitstamp is a Slovenian bitcoin exchange which was originally founded in 2011<ref name="coinsutra-202" />. Bitstamp was also reportedly based in Luxembourg. Bitstamp is the world's longest-running cryptocurrency exchange<ref name="wikipedia-4367" />.

	"Bitstamp is a cryptocurrency exchange based in Luxembourg. It allows trading between fiat currency, bitcoin and other cryptocurrencies. It allows USD, EUR, GBP, bitcoin, ALGO, XRP, Ether, litecoin, bitcoin cash, XLM, Link, OMG Network, USD Coin or PAX deposits and withdrawals."		"Bitstamp is a cryptocurrency exchange based in Luxembourg. It allows trading between fiat currency, bitcoin and other cryptocurrencies. It allows USD, EUR, GBP, bitcoin, ALGO, XRP, Ether, litecoin, bitcoin cash, XLM, Link, OMG Network, USD Coin or PAX deposits and withdrawals."
Line 24:		Line 24:

	== What Happened ==		== What Happened ==
	Bitstamp lost 19,000 BTC from the exchange’s hot wallet.		Bitstamp lost less than 19,000 BTC from the exchange’s hot wallet.
	{\| class="wikitable"		{\| class="wikitable"
	\|+Key Event Timeline - Bitstamp Hot Wallet Hack		\|+Key Event Timeline - Bitstamp Hot Wallet Hack
Line 50:		Line 50:
	\|BitStamp Back Online		\|BitStamp Back Online
	\|BitStamp is reportedly back online<ref>[https://twitter.com/gen_sec/status/553685173955727362 gen_sec - "#Bitstamp Back Online After #Breach: http://bit.ly/1x5tTvE - @databreachtoday" - Twitter] (Dec 11, 2023)</ref><ref>[https://www.databreachtoday.com/bitstamp-back-online-after-breach-a-7771 Bitstamp Back Online After Breach - DataBreachToday] (Dec 11, 2023)</ref>.		\|BitStamp is reportedly back online<ref>[https://twitter.com/gen_sec/status/553685173955727362 gen_sec - "#Bitstamp Back Online After #Breach: http://bit.ly/1x5tTvE - @databreachtoday" - Twitter] (Dec 11, 2023)</ref><ref>[https://www.databreachtoday.com/bitstamp-back-online-after-breach-a-7771 Bitstamp Back Online After Breach - DataBreachToday] (Dec 11, 2023)</ref>.
			\|-
			\|October 19th, 2017 2:11:44 AM MDT
			\|CoinSutra Biggest Bitcoin Hacks
			\|CoinSutra publishes an article titled "Top 6 Biggest Bitcoin Hacks Ever", which discusses significant historical Bitcoin hacks to emphasize the importance of securing private keys. Among the mentioned hacks, Bitstamp, a Slovenian Bitcoin exchange founded in 2011, suffered a hack on January 4, 2015. During this incident, an anonymous hacker compromised Bitstamp's operational hot wallet, resulting in the loss of 19,000 bitcoins, equivalent to $5 million at the time. Bitstamp suspended operations temporarily but resumed with enhanced security measures, such as implementing BitGo multisig wallets. Despite the setback, Bitstamp managed to regain user trust and continues to operate successfully. The article serves as a cautionary tale, urging readers to prioritize securing their private keys and advocating for the use of hardware wallets to safeguard cryptocurrencies<ref name="coinsutra-202" />.
			\|-
			\|November 21st, 2017 12:45:47 PM MST
			\|CCN Article Linking To Tether Hack
			\|A CCN article has managed to trace the funds to be linked to a [[Tether USDT Token Theft\|$31m hack of the Tether stablecoin]]. "This same wallet" which "had received .01 BTC shortly before the hack" "was first used to steal more than 18,500 BTC — worth $5 million then but more than $150 million today — from Bitstamp in January 2015."<ref name="ccn-195" />
			\|-
			\|February 27th, 2019 11:31:32 AM MST
			\|Inclusion In Kyle Gibson Timeline
			\|Kyle Gibson includes the incident in his "100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents"<ref name="kylegibson-86" />. Curiously, this incident is listed as a "Theft - Exit Scam" and it notes that "prompting [Bitstamp] to halt deposits and later shut down its platform entirely". The Bitstamp platform was still operating at the time of publication.
	\|-		\|-
	\|May 7th, 2019 7:49:57 PM MDT		\|May 7th, 2019 7:49:57 PM MDT
	\|Inclusion In BitcoinExchangeGuide		\|Inclusion In BitcoinExchangeGuide
	\|The incident is included as a "Hack / Theft" in a published list by BitcoinExchangeGuide.com<ref name="bitcoinexchangeguide-218" />.		\|The incident is included as a "Hack / Theft" in a published list by BitcoinExchangeGuide.com<ref name="bitcoinexchangeguide-218" />.
			\|-
			\|May 24th, 2019 12:56:03 PM MDT
			\|Bitcoin Magazine Inclusion
			\|The incident is included in an infographic put together by Bitcoin Magazine<ref name="bitcoinmagazine-6" />. The Bitstamp hack occupies a central position on their chart of bitcoin price versus amount lost. Limited information is provided, with the hack data only listed as "January 2015", however it mentions that "[a]s a result of the theft, Bitstamp began to keep 98 percent of its bitcoin in cold storage"<ref name="bitcoinmagazine-6" />.
	\|}		\|}

	== Technical Details ==		== Technical Details ==



Line 71:		Line 88:

	== Total Amount Lost ==		== Total Amount Lost ==
	~~The~~ amount lost is consistently reported as 19,000 BTC<ref name="bitcoinexchangeguide-218" /><ref name="~~bankinfosecurity~~-~~4369~~" />.		Despite the initial announcement from Bitstamp being clear that the amount was "less than 19,000 BTC"<ref name="coinsutra-202" />, the amount lost is consistently reported as 19,000 BTC across almost all major sources<ref name="bankinfosecurity-4369" /><ref name="kylegibson-86" /><ref name="bitcoinexchangeguide-218" /><ref name="bitcoinmagazine-6" /><ref name="coinsutra-202" />.

	Various sources have reported this amount as "equivalent to $5 million", "$5.000k"<ref name="bitcoinexchangeguide-218" />, "more than $5 million"<ref name="bankinfosecurity-4369" />, and "about $5.1m at press time"<ref name="coindesk-216" />.		Various sources have reported this amount as "equivalent to $5 million", "$5.000k"<ref name="bitcoinexchangeguide-218" />, "5,000,000.00"<ref name="kylegibson-86" />, "$5 million"<ref name="coinsutra-202" />, "more than $5 million"<ref name="bankinfosecurity-4369" />, and "about $5.1m at press time"<ref name="coindesk-216" />.

	The total amount lost has been estimated at $5,100,000 USD.		The total amount lost has been estimated at $5,100,000 USD.

	== Immediate Reactions ==		== Immediate Reactions ==



Line 88:		Line 106:

	== Ultimate Outcome ==		== Ultimate Outcome ==
			According to Bitcoin Magazine, as a result of this theft, Bitstamp's security policies changed to store 98% of bitcoin in cold storage<ref name="bitcoinmagazine-6" />.

	The incident was included in SlowMist<ref name="slowmisthacked-1160" />.		The incident was included in SlowMist<ref name="slowmisthacked-1160" />.

			Include more from <ref name="coinsutra-202" />

			=== Same Wallets Used In Hack Of Tether Stablecoin ===
	“A wallet associated with [the] $31 million Tether hack has been linked to previous bitcoin exchange thefts numbering in the tens of thousands of bitcoins.”		“A wallet associated with [the] $31 million Tether hack has been linked to previous bitcoin exchange thefts numbering in the tens of thousands of bitcoins.”

			In 2017, a $31 million Tether hack was linked to the previous Bitstamp theft involving tens of thousands of bitcoins<ref name="ccn-195" />. The Tether development team disclosed the hack of its hot wallet, and an analyst discovered a connection between the wallet used in the Tether hack and those involved in the 2015 Bitstamp bitcoin exchange theft of over 18,500 BTC, valued at $5 million then and over $150 million today<ref name="ccn-195" />. The hacker, who seems to have stolen at least $250 million in current value, brazenly linked wallets from multiple hacks, even connecting them to LocalBitcoins transactions from 2015<ref name="ccn-195" />. The analyst suggests that the hacker either disregards the power of blockchain analytics tools or is ignorant of their capabilities<ref name="ccn-195" />.

	== Total Amount Recovered ==		== Total Amount Recovered ==
Line 116:		Line 141:
	== References ==		== 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 30, 2020)</ref>		<ref name="bitcoinmagazine-6">[https://bitcoinmagazine.com/articles/infographic-overview-compromised-bitcoin-exchange-events Infographic: An Overview of Compromised Bitcoin Exchange Events - Bitcoin Magazine] (Jan 30, 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>
	<ref name="ccn-195">[https://www.ccn.com/31-million-tether-hack-linked-to-27000-btc-in-previous-exchange-thefts/ $31 Million Tether Hack Linked to 27,000 BTC in Previous Bitcoin Theft] (Mar 2, 2020)</ref>		<ref name="ccn-195">[https://www.ccn.com/31-million-tether-hack-linked-to-27000-btc-in-previous-exchange-thefts/ $31 Million Tether Hack Linked to 27,000 BTC in Previous Bitcoin Theft - CCN] (Mar 2, 2020)</ref>
	<ref name="bitstamp-196">[https://www.bitstamp.net/article/relaunch-faq/ Bitstamp - Relaunch FAQ] (Mar 2, 2020)</ref>		<ref name="bitstamp-196">[https://www.bitstamp.net/article/relaunch-faq/ Bitstamp - Relaunch FAQ] (Mar 2, 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="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 2, 2020)</ref>		<ref name="coinsutra-202">[https://coinsutra.com/biggest-bitcoin-hacks/ Top 6 Biggest Bitcoin Hacks Ever - CoinSutra] (Mar 2, 2020)</ref>
	<ref name="bravenewcoin-207">[https://bravenewcoin.com/insights/bitstamp-hack-result-of-phishing-attack-says-leaked-internal-report Brave New Coin] (Mar 2, 2020)</ref>		<ref name="bravenewcoin-207">[https://bravenewcoin.com/insights/bitstamp-hack-result-of-phishing-attack-says-leaked-internal-report Brave New Coin] (Mar 2, 2020)</ref>
	<ref name="coindesk-208">[https://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange Details of $5 Million Bitstamp Hack Revealed - CoinDesk] (Mar 2, 2020)</ref>		<ref name="coindesk-208">[https://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange Details of $5 Million Bitstamp Hack Revealed - CoinDesk] (Mar 2, 2020)</ref>

Azoundria: Another 30 minutes complete. About section spread around. Reviewed sources and added in additional sources about the breach of Bitstamp.

2023-12-11T19:59:23Z

Another 30 minutes complete. About section spread around. Reviewed sources and added in additional sources about the breach of Bitstamp.

Show changes

Azoundria at 18:59, 11 December 2023

2023-12-11T18:59:35Z

← Older revision		Revision as of 12:59, 11 December 2023
Line 56:		Line 56:
	\|		\|
	\|}		\|}

			== 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 ==

Azoundria at 23:58, 12 April 2023

2023-04-12T23:58:06Z

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

	[[File:Bitstamp.jpg\|thumb\|Bitstamp]]Apparently the wallet file (named wallet.dat) was encrypted with only a simple passphrase, which was also stored online. This breach took down one of the largest and most widely used exchanges at the time, bringing down multiple services such as ATMs that sourced their liquidity from Bitstamp. Bitstamp has since set up multi-signature hot wallets through BitGo, while the majority of funds remain in cold storage. No customers of the exchange appear to have lost their funds in the incident.		[[File:Bitstamp.jpg\|thumb\|Bitstamp]]Apparently the wallet file (named wallet.dat) was encrypted with only a simple passphrase, which was also stored online. This breach took down one of the largest and most widely used exchanges at the time, bringing down multiple services such as ATMs that sourced their liquidity from Bitstamp. Bitstamp has since set up multi-signature hot wallets through BitGo, while the majority of funds remain in cold storage. No customers of the exchange appear to have lost their funds in the incident.

	This exchange or platform is based in Luxembourg, or the incident targeted people primarily in Luxembourg.		This exchange or platform is based in Luxembourg, or the incident targeted people primarily in Luxembourg.<ref name="bitcoinmagazine-6" /><ref name="kylegibson-86" /><ref name="ccn-195" /><ref name="bitstamp-196" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bravenewcoin-207" /><ref name="coindesk-208" /><ref name="coindesk-216" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="bitstamp-4366" /><ref name="wikipedia-4367" /><ref name="bankinfosecurity-4369" />
	<ref name="bitcoinmagazine-6" /><ref name="kylegibson-86" /><ref name="ccn-195" /><ref name="bitstamp-196" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bravenewcoin-207" /><ref name="coindesk-208" /><ref name="coindesk-216" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="bitstamp-4366" /><ref name="wikipedia-4367" /><ref name="bankinfosecurity-4369" />

	== About Bitstamp ==		== About Bitstamp ==
Line 49:		Line 48:
	!Description		!Description
	\|-		\|-
	\|January 1st, 2015 12:00:36 AM		\|January 1st, 2015 12:00:36 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 76:		Line 75:
	== 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="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>

	<ref name="ccn-195">[https://www.ccn.com/31-million-tether-hack-linked-to-27000-btc-in-previous-exchange-thefts/ $31 Million Tether Hack Linked to 27,000 BTC in Previous Bitcoin Theft] (Mar 1, 2020)</ref>		<ref name="ccn-195">[https://www.ccn.com/31-million-tether-hack-linked-to-27000-btc-in-previous-exchange-thefts/ $31 Million Tether Hack Linked to 27,000 BTC in Previous Bitcoin Theft] (Mar 2, 2020)</ref>

	<ref name="bitstamp-196">[https://www.bitstamp.net/article/relaunch-faq/ Bitstamp - Relaunch FAQ] (Mar 1, 2020)</ref>		<ref name="bitstamp-196">[https://www.bitstamp.net/article/relaunch-faq/ Bitstamp - Relaunch FAQ] (Mar 2, 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="bravenewcoin-207">[https://bravenewcoin.com/insights/bitstamp-hack-result-of-phishing-attack-says-leaked-internal-report Brave New Coin] (Mar 1, 2020)</ref>		<ref name="bravenewcoin-207">[https://bravenewcoin.com/insights/bitstamp-hack-result-of-phishing-attack-says-leaked-internal-report Brave New Coin] (Mar 2, 2020)</ref>

	<ref name="coindesk-208">[https://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange Details of $5 Million Bitstamp Hack Revealed] (Mar 1, 2020)</ref>		<ref name="coindesk-208">[https://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange Details of $5 Million Bitstamp Hack Revealed] (Mar 2, 2020)</ref>

	<ref name="coindesk-216">[https://www.coindesk.com/bitstamp-claims-roughly-19000-btc-lost-hot-wallet-hack\ Bitstamp Claims $5 Million Lost in Hot Wallet Hack] (Mar 3, 2020)</ref>		<ref name="coindesk-216">[https://www.coindesk.com/bitstamp-claims-roughly-19000-btc-lost-hot-wallet-hack\ Bitstamp Claims $5 Million Lost in Hot Wallet Hack] (Mar 4, 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="bitstamp-4366">[https://www.bitstamp.net/ https://www.bitstamp.net/] (Dec 12, 2021)</ref>		<ref name="bitstamp-4366">[https://www.bitstamp.net/ https://www.bitstamp.net/] (Dec 12, 2021)</ref>

Azoundria at 00:50, 16 February 2023

2023-02-16T00:50:57Z

← Older revision		Revision as of 18:50, 15 February 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bitstamphotwallethack.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bitstamphotwallethack.php}}
			{{Unattributed Citations}}

	[[File:Bitstamp.jpg\|thumb\|Bitstamp]]Apparently the wallet file (named wallet.dat) was encrypted with only a simple passphrase, which was also stored online. This breach took down one of the largest and most widely used exchanges at the time, bringing down multiple services such as ATMs that sourced their liquidity from Bitstamp. Bitstamp has since set up multi-signature hot wallets through BitGo, while the majority of funds remain in cold storage. No customers of the exchange appear to have lost their funds in the incident.		[[File:Bitstamp.jpg\|thumb\|Bitstamp]]Apparently the wallet file (named wallet.dat) was encrypted with only a simple passphrase, which was also stored online. This breach took down one of the largest and most widely used exchanges at the time, bringing down multiple services such as ATMs that sourced their liquidity from Bitstamp. Bitstamp has since set up multi-signature hot wallets through BitGo, while the majority of funds remain in cold storage. No customers of the exchange appear to have lost their funds in the incident.

	This exchange or platform is based in Luxembourg, or the incident targeted people primarily in Luxembourg.		This exchange or platform is based in Luxembourg, or the incident targeted people primarily in Luxembourg.
			<ref name="bitcoinmagazine-6" /><ref name="kylegibson-86" /><ref name="ccn-195" /><ref name="bitstamp-196" /><ref name="cointelegraph-197" /><ref name="coinsutra-202" /><ref name="bravenewcoin-207" /><ref name="coindesk-208" /><ref name="coindesk-216" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" /><ref name="bitstamp-4366" /><ref name="wikipedia-4367" /><ref name="bankinfosecurity-4369" />

	== About Bitstamp ==		== About Bitstamp ==
Line 27:		Line 29:

	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 49:		Line 50:
	\|-		\|-
	\|January 1st, 2015 12:00:36 AM		\|January 1st, 2015 12:00:36 AM
	\|~~First~~ Event		\|Main Event
	\|~~The reported date~~ of the ~~hack itself~~.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
Line 62:		Line 59:

	== Total Amount Lost ==		== Total Amount Lost ==
	The total amount lost ~~is unknown~~.		The total amount lost has been estimated at $5,100,000 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 73:		Line 70:

	== 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 84:		Line 81:

	== 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://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://www.ccn.com/31-million-tether-hack-linked-to-27000-btc-in-previous-exchange-thefts/ $31 Million Tether Hack Linked to 27,000 BTC in Previous Bitcoin Theft] (Mar 1)		<ref name="ccn-195">[https://www.ccn.com/31-million-tether-hack-linked-to-27000-btc-in-previous-exchange-thefts/ $31 Million Tether Hack Linked to 27,000 BTC in Previous Bitcoin Theft] (Mar 1, 2020)</ref>

	[https://www.bitstamp.net/article/relaunch-faq/ Bitstamp - Relaunch FAQ] (Mar 1)		<ref name="bitstamp-196">[https://www.bitstamp.net/article/relaunch-faq/ Bitstamp - Relaunch FAQ] (Mar 1, 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://bravenewcoin.com/insights/bitstamp-hack-result-of-phishing-attack-says-leaked-internal-report Brave New Coin] (Mar 1)		<ref name="bravenewcoin-207">[https://bravenewcoin.com/insights/bitstamp-hack-result-of-phishing-attack-says-leaked-internal-report Brave New Coin] (Mar 1, 2020)</ref>

	[https://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange Details of $5 Million Bitstamp Hack Revealed] (Mar 1)		<ref name="coindesk-208">[https://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange Details of $5 Million Bitstamp Hack Revealed] (Mar 1, 2020)</ref>

	[https://www.coindesk.com/bitstamp-claims-roughly-19000-btc-lost-hot-wallet-hack\ Bitstamp Claims $5 Million Lost in Hot Wallet Hack] (Mar 3)		<ref name="coindesk-216">[https://www.coindesk.com/bitstamp-claims-roughly-19000-btc-lost-hot-wallet-hack\ Bitstamp Claims $5 Million Lost in Hot Wallet Hack] (Mar 3, 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.bitstamp.net/ https://www.bitstamp.net/] (Dec 12)		<ref name="bitstamp-4366">[https://www.bitstamp.net/ https://www.bitstamp.net/] (Dec 12, 2021)</ref>

	[https://en.wikipedia.org/wiki/Bitstamp Bitstamp - Wikipedia] (Dec 12)		<ref name="wikipedia-4367">[https://en.wikipedia.org/wiki/Bitstamp Bitstamp - Wikipedia] (Dec 12, 2021)</ref>

	[https://www.bankinfosecurity.com/bitcoin-exchange-reports-data-breach-a-7760 Bitcoin Exchange Reports Data Breach - BankInfoSecurity] (Dec 12)		<ref name="bankinfosecurity-4369">[https://www.bankinfosecurity.com/bitcoin-exchange-reports-data-breach-a-7760 Bitcoin Exchange Reports Data Breach - BankInfoSecurity] (Dec 12, 2021)</ref></references>