CoinBerry ETransfer Glitch Fraud - Revision history

Azoundria: 30 minutes. Integrated additional information from BRD article. Incorporated CoinMarketCap source. Integrated information from CoinDesk article on lawsuit.

2024-04-12T22:30:28Z

30 minutes. Integrated additional information from BRD article. Incorporated CoinMarketCap source. Integrated information from CoinDesk article on lawsuit.

← Older revision		Revision as of 16:30, 12 April 2024
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	{{~~Imported~~ Case Study~~\|source=https://www.quadrigainitiative.com/casestudy/coinberryetransferglitchfraud.php~~}}		{{Case Study Under Construction}}{{Unattributed Citations}}
	{{Unattributed Citations}}

	[[File:Coinberry.jpg\|thumb\|CoinBerry]]In April 2020, CoinBerry reportedly made an update to their service which allowed customers to purchase bitcoin by starting an eTransfer process. It appears completing the eTransfer (ie making an actual payment) was not required, and this opportunity was available all the way through to August 24th, 2020, when withdrawals were shut off for a period of 17 hours. According to a lawsuit later filed by CoinBerry, 120 bitcoins were ultimately withdrawn without paying during this time. CoinBerry requested the return of funds, and 37 bitcoins were returned by customers.		[[File:Coinberry.jpg\|thumb\|CoinBerry Homepage/Logo]]In April 2020, CoinBerry reportedly made an update to their service which allowed customers to purchase bitcoin by starting an eTransfer process. It appears completing the eTransfer (ie making an actual payment) was not required, and this opportunity was available all the way through to August 24th, 2020, when withdrawals were shut off for a period of 17 hours. According to a lawsuit later filed by CoinBerry, 120 bitcoins were ultimately withdrawn without paying during this time. CoinBerry requested the return of funds, and 37 bitcoins were returned by customers.

	As no announcements were made to explain the situation, there was speculation on what happened in this case for roughly 2 years until June 2022 when CoinBerry finally published a lawsuit in Brampton, Ontario. This was reported in the media in September 2022. It is unclear if CoinBerry has been able to recover any funds in this case.		As no announcements were made to explain the situation, there was speculation on what happened in this case for roughly 2 years until June 2022 when CoinBerry finally published a lawsuit in Brampton, Ontario. This was reported in the media in September 2022. It is unclear if CoinBerry has been able to recover any funds in this case.

	This exchange or platform is based in Canada, or the incident targeted people primarily in Canada.		This exchange or platform is based in Canada, or the incident targeted people primarily in Canada.<ref name="coindesk-9856" /><ref name="crastbiz-9857" /><ref name="newsdotbitcoin-9858" /><ref name="protos-9859" /><ref name="techstory-9860" /><ref name="cryptopotato-9862" />
	~~<ref name="bitcoinmagazine-622" /><ref name="coinmarketcap-623" />~~<ref name="coindesk-9856" /><ref name="crastbiz-9857" /><ref name="newsdotbitcoin-9858" /><ref name="protos-9859" /><ref name="techstory-9860" /><ref name="cryptopotato-9862" />

	== About CoinBerry ==		== About CoinBerry ==
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	=== Partnership With BRD ===		=== Partnership With BRD ===
	In August 2018, CoinBerry announced a partnership with BRD, which introduced their platform to 1.2 million users of the Bread Wallet application<ref name="newswire-618" />.		In August 2018, CoinBerry announced a partnership with BRD at a Blockchain Futurist Conference, which introduced their platform to 1.2 million users of the Bread Wallet application<ref name="newswire-618" />. This partnership allows Coinberry users to maintain control of their cryptocurrency keys securely, addressing concerns about exchanges' vulnerability to hacks<ref name="bitcoinmagazine-622" />. BRD's non-custodial wallet technology ensures users can buy, deposit, and withdraw bitcoin seamlessly on Coinberry while retaining control of their keys<ref name="bitcoinmagazine-622" />. Both companies aim to empower users by providing secure and convenient solutions for managing their crypto assets<ref name="bitcoinmagazine-622" />. This integration enhances the Canadian crypto industry by enabling faster payments and remittances into fiat currency<ref name="bitcoinmagazine-622" />. With BRD's decentralized framework, users can safeguard their assets against centralized risks, further emphasizing the importance of maintaining control over cryptocurrency keys amidst ongoing security threats in the exchange ecosystem<ref name="bitcoinmagazine-622" />.

	=== Partnerships With Municipalities ===		=== Partnerships With Municipalities ===
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	\|August 16th, 2018 7:00:00 AM MDT		\|August 16th, 2018 7:00:00 AM MDT
	\|CoinBerry and BRD Partnership		\|CoinBerry and BRD Partnership
	\|CoinBerry announces a partnership with BRD at the Blockchain Futurist Conference. BRD is a Swiss-headquartered company offering one of the first iOS cryptocurrency non-custodial wallet applications with 1.2 million users<ref name="newswire-618" /><ref name="bitcoinmagazine-622" />. ~~TBD there may be more~~ in ~~this article~~. ~~Also review~~ the ~~other article~~.		\|CoinBerry announces a partnership with BRD at the Blockchain Futurist Conference. BRD is a Swiss-headquartered company offering one of the first iOS cryptocurrency non-custodial wallet applications with 1.2 million users<ref name="newswire-618" /><ref name="bitcoinmagazine-622" />. This partnership, announced at the Blockchain Futurist Conference, aims to empower users by allowing them to maintain control of their cryptocurrency keys in a secure wallet, a critical feature amidst ongoing vulnerabilities in some exchanges to hacks<ref name="bitcoinmagazine-622" />. BRD's non-custodial wallet technology ensures decentralized control, reducing centralized risks associated with hacking<ref name="bitcoinmagazine-622" />. The integration enables users to seamlessly buy, deposit, and withdraw bitcoin on Coinberry while retaining control of their keys<ref name="bitcoinmagazine-622" />. Both companies emphasize the importance of user empowerment and security in the cryptocurrency landscape, with BRD highlighting the simplicity and security benefits of the integration<ref name="bitcoinmagazine-622" />.
	\|-		\|-
	\|January 17th, 2019 8:10:00 AM MST		\|January 17th, 2019 8:10:00 AM MST
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	\|CoinBerry Files Lawsuit		\|CoinBerry Files Lawsuit
	\|CoinBerry entered a lawsuit in Brampton, Ontario against 50 customers and Binance<ref name="financialpost-9855" />.		\|CoinBerry entered a lawsuit in Brampton, Ontario against 50 customers and Binance<ref name="financialpost-9855" />.
			\|-
			\|September 8th, 2022 4:54:00 AM MDT
			\|CoinDesk Article
			\|CoinDesk reported that Coinberry, a Canadian cryptocurrency exchange, has filed a lawsuit against 50 users who exploited a software bug to withdraw 120 bitcoins in 2020<ref name="coindesk-9856" />. The bug in Coinberry's Interac e-transfer software update allowed users to siphon off the bitcoin with Canadian dollars that were en route but not yet received by Coinberry<ref name="coindesk-9856" />. While over 500 customers initially exploited the vulnerability, some funds were returned following Coinberry's request<ref name="coindesk-9856" />. The incident underscores the risks associated with handling irreversible assets like cryptocurrencies<ref name="coindesk-9856" />. It brings attention to [[OptiFi Accidental Shutdown Command\|the recent loss of $660,000 in crypto due to a programming error in the Solana-based OptiFi protocol as an example]]<ref name="coindesk-9856" />.
	\|-		\|-
	\|September 8th, 2022 9:34:04 AM MDT		\|September 8th, 2022 9:34:04 AM MDT
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	\|Crypto.news reports that Coinberry, a Canadian crypto exchange, has filed a lawsuit to recover lost bitcoins totaling $3 million due to a software glitch. The glitch occurred in 2020 and allowed customers to siphon off 120 bitcoins without making payments. Coinberry claims that it has been unable to retrieve two-thirds of the lost bitcoins from its customers. The exchange blames Binance, the largest crypto exchange, for the mishap as some of the bitcoins were transferred to its platform. While Coinberry was able to fix the situation, over 500 users had already taken advantage of the vulnerability. The lawsuit seeks to recover 63 of the missing bitcoins, including 9.48 units transferred to Binance, while 20 bitcoins and more than 200 users remain unaccounted for. Binance has not provided a response regarding the situation<ref name="cryptonews-9861" />.		\|Crypto.news reports that Coinberry, a Canadian crypto exchange, has filed a lawsuit to recover lost bitcoins totaling $3 million due to a software glitch. The glitch occurred in 2020 and allowed customers to siphon off 120 bitcoins without making payments. Coinberry claims that it has been unable to retrieve two-thirds of the lost bitcoins from its customers. The exchange blames Binance, the largest crypto exchange, for the mishap as some of the bitcoins were transferred to its platform. While Coinberry was able to fix the situation, over 500 users had already taken advantage of the vulnerability. The lawsuit seeks to recover 63 of the missing bitcoins, including 9.48 units transferred to Binance, while 20 bitcoins and more than 200 users remain unaccounted for. Binance has not provided a response regarding the situation<ref name="cryptonews-9861" />.
	\|}		\|}

			== Technical Analysis ==
			According to a lawsuit filed against 50 users who exploited the software bug in 2020, customers were able to withdraw 120 bitcoins (BTC) using Canadian dollars that were en route but not yet received by Coinberry due to a bug in an Interac e-transfer software update<ref name="coindesk-9856" />. The lawsuit alleges that the update contained a vulnerability that notified Coinberry's system of e-transfers of CAD despite not actually receiving the funds<ref name="coindesk-9856" />.

	== Total Amount Lost ==		== Total Amount Lost ==
	The total amount lost has been estimated at $1,413,000 USD.		The total amount lost has been estimated at $1,413,000 USD.<ref name="coinmarketcap-623" />

	CoinBerry reported that the largest loss of $385,722.31 (as valued in April 2022) was from a user named both Jordan Steifuk and Connor Heffernan, who CoinBerry states is actually the same person<ref name="financialpost-9855" />.		CoinBerry reported that the largest loss of $385,722.31 (as valued in April 2022) was from a user named both Jordan Steifuk and Connor Heffernan, who CoinBerry states is actually the same person<ref name="financialpost-9855" />.
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	=== Acquisition by WonderFi ===		=== Acquisition by WonderFi ===
	CoinBerry was acquired by WonderFi in July 2022 for $38.5m<ref name="financialpost-9855" />. WonderFi is a Vancouver-based crypto outlet backed by Shark Tank personality Kevin O'Leary<ref name="financialpost-9855" />.		CoinBerry was acquired by WonderFi in July 2022 for $38.5m<ref name="financialpost-9855" />. WonderFi is a Vancouver-based crypto outlet backed by Shark Tank personality Kevin O'Leary<ref name="financialpost-9855" />. Coinberry's parent company, WonderFi, has applied to start trading on the Nasdaq, currently trading on the Toronto Stock Exchange<ref name="coindesk-9856" />.

	"Coinberry [became] backed by WonderFi Technologies, a Vancouver-based crypto organization backed by Shark Tank personality O’Leary, which bought Coinberry in July in a deal worth $38.5 million." "On Aug. 25, Coinberry's parent company, WonderFi, applied to start trading on the Nasdaq. It currently trades on the Toronto Stock exchange."		"Coinberry [became] backed by WonderFi Technologies, a Vancouver-based crypto organization backed by Shark Tank personality O’Leary, which bought Coinberry in July in a deal worth $38.5 million." "On Aug. 25, Coinberry's parent company, WonderFi, applied to start trading on the Nasdaq. It currently trades on the Toronto Stock exchange."
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	=== Lawsuit Against Customers ===		=== Lawsuit Against Customers ===
	CoinBerry was unsuccessful in obtaining the return of funds from at least 270 of the customers, and later undertook a lawsuit, which was filed in Brampton, Ontario<ref name="financialpost-9855" />. CoinBerry reportedly did not include users who had amounts below $5,000, as valued in May 2020, in the lawsuit<ref name="financialpost-9855" />.		CoinBerry was unsuccessful in obtaining the return of funds from at least 270 of the customers, and later undertook a lawsuit, which was filed in Brampton, Ontario<ref name="financialpost-9855" />. The lawsuit also names the Binance crypto exchange<ref name="coindesk-9856" />. Initially, over 500 customers exploited the vulnerability, with 37 bitcoins being returned following Coinberry's request<ref name="coindesk-9856" />. CoinBerry reportedly did not include users who had amounts below $5,000, as valued in May 2020, in the lawsuit<ref name="financialpost-9855" />.

	"The lawsuit was for 63 of [the defrauded] bitcoins, including 9.48 units that were transferred to Binance. In a list that Coinberry provided to court, all that was attributed to the 50 users named in the lawsuit." "That still leaves out 20 of the 120 bitcoins originally lost — and more than 200 of the 546 users who had allegedly misappropriated from Coinberry." "It is unclear how or if Coinberry is going after those people, given that they are not named in the lawsuit."		"The lawsuit was for 63 of [the defrauded] bitcoins, including 9.48 units that were transferred to Binance. In a list that Coinberry provided to court, all that was attributed to the 50 users named in the lawsuit." "That still leaves out 20 of the 120 bitcoins originally lost — and more than 200 of the 546 users who had allegedly misappropriated from Coinberry." "It is unclear how or if Coinberry is going after those people, given that they are not named in the lawsuit."
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	<ref name="newswire-620">[https://www.newswire.ca/news-releases/coinberry-successfully-completes-first-year-financial-statement-audit-887882664.html Coinberry successfully completes first-year financial statement audit - Newswire] (May 15, 2021)</ref>		<ref name="newswire-620">[https://www.newswire.ca/news-releases/coinberry-successfully-completes-first-year-financial-statement-audit-887882664.html Coinberry successfully completes first-year financial statement audit - Newswire] (May 15, 2021)</ref>
	<ref name="yahoofinance-621">[https://finance.yahoo.com/news/coinberry-crypto-exchange-gets-osc-150526806.html Coinberry Crypto Exchange Gets Lloyd’s Cover as Canada’s Post-Quadriga Rules Tighten - Yahoo Finance] (May 15, 2021)</ref>		<ref name="yahoofinance-621">[https://finance.yahoo.com/news/coinberry-crypto-exchange-gets-osc-150526806.html Coinberry Crypto Exchange Gets Lloyd’s Cover as Canada’s Post-Quadriga Rules Tighten - Yahoo Finance] (May 15, 2021)</ref>
	<ref name="bitcoinmagazine-622">[https://bitcoinmagazine.com/business/coinberry-traders-keep-control-keys-brd-crypto-wallet-integration Coinberry Traders Keep Control of Keys With BRD Crypto Wallet Integration - Bitcoin Magazine~~: Bitcoin News, Articles, Charts, and Guides~~] (May 15, 2021)</ref>		<ref name="bitcoinmagazine-622">[https://bitcoinmagazine.com/business/coinberry-traders-keep-control-keys-brd-crypto-wallet-integration Coinberry Traders Keep Control of Keys With BRD Crypto Wallet Integration - Bitcoin Magazine] (May 15, 2021)</ref>
	<ref name="coinmarketcap-623">[https://coinmarketcap.com/currencies/bitcoin/historical-data/ Bitcoin ~~price today, BTC live marketcap, chart, and info \|~~ CoinMarketCap] (May 15, 2021)</ref>		<ref name="coinmarketcap-623">[https://coinmarketcap.com/currencies/bitcoin/historical-data/ Bitcoin Historic Prices - CoinMarketCap] (May 15, 2021)</ref>
	<ref name="financialpost-9855">[https://financialpost.com/fp-finance/cryptocurrency/software-glitch-allowed-users-to-acquire-3-million-in-bitcoin-without-paying-coinberry-alleges-in-lawsuit Coinberry says it lost $3 million in bitcoin due to a software glitch - Financial Post] (Dec 1, 2022)</ref>		<ref name="financialpost-9855">[https://financialpost.com/fp-finance/cryptocurrency/software-glitch-allowed-users-to-acquire-3-million-in-bitcoin-without-paying-coinberry-alleges-in-lawsuit Coinberry says it lost $3 million in bitcoin due to a software glitch - Financial Post] (Dec 1, 2022)</ref>
	<ref name="coindesk-9856">[https://www.coindesk.com/business/2022/09/08/canadian-crypto-exchange-coinberry-files-lawsuit-against-50-users-after-losing-120-btc/ Canadian Crypto Exchange Coinberry Files Lawsuit Against 50 Users After Losing 120 BTC] (Dec 1, 2022)</ref>		<ref name="coindesk-9856">[https://www.coindesk.com/business/2022/09/08/canadian-crypto-exchange-coinberry-files-lawsuit-against-50-users-after-losing-120-btc/ Canadian Crypto Exchange Coinberry Files Lawsuit Against 50 Users After Losing 120 BTC - CoinDesk] (Accessed Dec 1, 2022)</ref>
	<ref name="crastbiz-9857">[https://biz.crast.net/coinberry-loses-3m-due-to-software-glitch-files-suit-for-recovery/ Coinberry loses $3m due to software glitch - files suit for recovery - Business News] (Dec 1, 2022)</ref>		<ref name="crastbiz-9857">[https://biz.crast.net/coinberry-loses-3m-due-to-software-glitch-files-suit-for-recovery/ Coinberry loses $3m due to software glitch - files suit for recovery - Business News] (Dec 1, 2022)</ref>
	<ref name="newsdotbitcoin-9858">[https://news.bitcoin.com/canadian-crypto-exchange-sues-users-for-return-of-bitcoin-misappropriated-during-software-glitch/ Canadian Crypto Exchange Sues Users for Return of Bitcoin Misappropriated During Software Glitch – Exchanges Bitcoin News] (Dec 2, 2022)</ref>		<ref name="newsdotbitcoin-9858">[https://news.bitcoin.com/canadian-crypto-exchange-sues-users-for-return-of-bitcoin-misappropriated-during-software-glitch/ Canadian Crypto Exchange Sues Users for Return of Bitcoin Misappropriated During Software Glitch – Exchanges Bitcoin News] (Dec 2, 2022)</ref>

Azoundria: Another 30 minutes complete. Prevention added and much more research.

2023-06-30T15:24:56Z

Another 30 minutes complete. Prevention added and much more research.

← Older revision		Revision as of 09:24, 30 June 2023
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	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~The total~~ amount ~~recovered~~ has been estimated at $436,000 USD.		While the matter is still proceeding through the courts, the potential amount recoverable has been estimated at $436,000 USD<ref name="financialpost-9855" />.

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

	== Ongoing Developments ==		== Ongoing Developments ==
	CoinBerry's lawsuit has yet to be tested in court<ref name="financialpost-9855" />.		CoinBerry's lawsuit has yet to be tested in court<ref name="financialpost-9855" />.

	CoinBerry's lawsuit included Binance, despite the apparent cooperation of the platform<ref name="financialpost-9855" />. Binance has not commented on the lawsuit. They've only issued a general statement<ref name="financialpost-9855" />.<blockquote>“The company is committed to prevent bad actors from using the platform, which includes a world-renowned investigative team.”</blockquote>		CoinBerry's lawsuit included Binance, despite the apparent cooperation of the platform<ref name="financialpost-9855" />. Binance has not commented on the lawsuit<ref name="financialpost-9855" />. They've only issued a general statement<ref name="financialpost-9855" />.<blockquote>“The company is committed to prevent bad actors from using the platform, which includes a world-renowned investigative team.”</blockquote>
	==Individual Prevention Policies==		==Individual Prevention Policies==
	{{Prevention:Individual:No Individual Funds Lost}}		{{Prevention:Individual:No Individual Funds Lost}}

			{{Prevention:Individual:Avoid Third Party Custodians}}

	{{Prevention:Individuals:End}}		{{Prevention:Individuals:End}}
	==Platform Prevention Policies==		==Platform Prevention Policies==
	~~The primary failure~~ in this case~~, was the lack of proving reserves on the platform~~. We have ~~recommended~~ a published assessment of the platform at an interval of 6 months or less, which ~~most likely~~ would have caught this ~~situation~~. ~~In addition, having an~~ internal validation that assets are properly backed would have noticed the anomalies sooner~~. This is expecially prudent shortly after deploying a system upgrade~~.		There are a few strategies which would help in this case.

			=== Published Platform Assessments ===
			This situation could have been prevented by a published assessment of the platform at an interval of 6 months or less, which would have caught the issue sooner due to the lack of backing or the funding holes. Specifically, this problem was likely introduced during a platform upgrade, and a third party review after that upgrade could have caught the issue before any funds were lost. An internal validation that assets are properly backed would also have noticed the anomalies sooner.

	While this is not directly the cause of the incident, our recommendation continue to be that all customer funds be secured by a multi-signature wallet requiring at least 3 signatures for release, and that CoinBerry revisit their approach to training and/or background checks of signatories. Platforms should be held to account with transparent disclosure of breaches. An efficient insurance fund which is overseen by industry operators could be a cheap, flexible, and highly protective option to restore reserves in cases like this.		{{Prevention:Platforms:Regular Audit Procedures}}

	~~While this loss did not involve cryptocurrency~~ funds~~, the same~~ multi-signature ~~requirement can be instituted~~ at ~~a policy level~~ on ~~outgoing fiat transfers~~.		=== Multi-Signature Visibility ===
			All customer funds should be secured by a multi-signature wallet requiring at least 3 signatures for release. It is possible that having greater visibility on the funds leaving the platform might have resulted in greater oversight, as there was likely an unusual withdrawal pattern associated with the exploit.

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

	{{Prevention:Platforms:~~Regular Audit Procedures~~}}		=== Industry Insurance Fund ===
			The industry insurance fund steps in as a measure of last resort and has the discretion to ensure that the remaining users of the platform would be made whole. Platforms should be held to account with transparent disclosure of breaches. An efficient insurance fund which is overseen by industry operators could be a cheap, flexible, and highly protective option to restore reserves in cases like this. While this loss did not involve cryptocurrency funds, the same multi-signature requirement can be instituted at a policy level on outgoing fiat transfers.

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

	{{Prevention:Platforms:End}}		{{Prevention:Platforms:End}}
	==Regulatory Prevention Policies==		==Regulatory Prevention Policies==
	~~The primary failure in~~ this ~~case~~, ~~was~~ the ~~lack~~ of ~~proving reserves on the platform. We have recommended a published assessment of the platform at an interval of 6 months~~ or less, which most likely would have caught this situation. In addition, having an internal validation that assets are properly backed would have noticed the anomalies sooner. This is expecially prudent shortly after deploying a system upgrade.		There are many ways to prevent this type of situation from happening, reaching the level of loss as reported, or impacting users.

	~~While this is not directly~~ the ~~cause~~ of the ~~incident~~, ~~our recommendation continue to be that all customer funds be secured by~~ a ~~multi-signature wallet requiring at least 3 signatures for release~~, and that ~~CoinBerry revisit their approach to training and/or background checks of signatories. Platforms should be held to account with transparent disclosure of breaches~~. An ~~efficient insurance fund which is overseen by industry operators could be a cheap, flexible, and highly protective option to restore reserves in cases like this~~.		=== Published Platform Assessments ===
			This situation could have been prevented by a published assessment of the platform at an interval of 6 months or less, which would have caught the issue sooner due to the lack of backing or the funding holes. Specifically, this problem was likely introduced during a platform upgrade, and a third party review after that upgrade could have caught the issue before any funds were lost. An internal validation that assets are properly backed would also have noticed the anomalies sooner.

	{{Prevention:Regulators:Platform Security Assessments}}		{{Prevention:Regulators:Platform Security Assessments}}

			=== Industry Insurance Fund ===
			The industry insurance fund steps in as a measure of last resort and has the discretion to ensure that the remaining users of the platform would be made whole. Platforms should be held to account with transparent disclosure of breaches. An efficient insurance fund which is overseen by industry operators could be a cheap, flexible, and highly protective option to restore reserves in cases like this. While this loss did not involve cryptocurrency funds, the same multi-signature requirement can be instituted at a policy level on outgoing fiat transfers.

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

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

Azoundria: Progress towards 30 minutes.

2023-06-29T22:31:01Z

Progress towards 30 minutes.

Show changes

Azoundria: 30 more minutes going through sources further.

2023-04-28T17:47:39Z

30 more minutes going through sources further.

← Older revision		Revision as of 11:47, 28 April 2023
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	This exchange or platform is based in Canada, or the incident targeted people primarily in Canada.		This exchange or platform is based in Canada, or the incident targeted people primarily in Canada.
	~~<ref name="newswire-618" /><ref name="canadiancryptomedium-619" /><ref name="newswire-620" /><ref name="yahoofinance-621" />~~<ref name="bitcoinmagazine-622" /><ref name="coinmarketcap-623" /><ref name="coindesk-9856" /><ref name="crastbiz-9857" /><ref name="newsdotbitcoin-9858" /><ref name="protos-9859" /><ref name="techstory-9860" /><ref name="cryptonews-9861" /><ref name="cryptopotato-9862" />		<ref name="bitcoinmagazine-622" /><ref name="coinmarketcap-623" /><ref name="coindesk-9856" /><ref name="crastbiz-9857" /><ref name="newsdotbitcoin-9858" /><ref name="protos-9859" /><ref name="techstory-9860" /><ref name="cryptonews-9861" /><ref name="cryptopotato-9862" />

	== About CoinBerry ==		== About CoinBerry ==
	Coinberry was founded in 2017<ref name="privacypros-617" /> and is Canada’s first regulated crypto-only trading platform<ref name="financialpost-9855" /> which called itself "the safest and most secure digital currency trading platform in Canada"<ref name="privacypros-617" />. In 2021, the platform supported Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, and Stellar<ref name="privacypros-617" />.<blockquote>"Based in Toronto, Coinberry is Canada's first federally registered commission-free crypto trading platform, which secures the best cryptocurrency prices from trusted exchanges using proprietary algorithms." </blockquote>In 2021, the platform offered zero funding or withdrawal fees, was registered with FINTRAC, and had low trading fees of 0.5%<ref name="privacypros-617" />. The CEO Andrei Poliakov describes the vision for the company<ref name="privacypros-617" />.<blockquote>At Coinberry we believe in an ''inclusive blockchain-based economy''. So we set out to build a ''global digital financial institution'' of the future. And we started with the most important step: building a trusted ''digital asset trading platform''.</blockquote>		Coinberry was founded in 2017<ref name="privacypros-617" /> and is Canada’s first regulated crypto-only trading platform<ref name="financialpost-9855" /> which called itself "the safest and most secure digital currency trading platform in Canada"<ref name="privacypros-617" />. In 2021, the platform supported Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, and Stellar<ref name="privacypros-617" />.<blockquote>"Based in Toronto, Coinberry is Canada's first federally registered commission-free crypto trading platform, which secures the best cryptocurrency prices from trusted exchanges using proprietary algorithms." </blockquote>In 2021, the platform offered zero funding or withdrawal fees, was registered with FINTRAC, and had low trading fees of 0.5%<ref name="privacypros-617" />. The CEO Andrei Poliakov describes the vision for the company<ref name="privacypros-617" />.<blockquote>At Coinberry we believe in an ''inclusive blockchain-based economy''. So we set out to build a ''global digital financial institution'' of the future. And we started with the most important step: building a trusted ''digital asset trading platform''.</blockquote>

			=== Partnership With BRD ===
			In August 2018, CoinBerry announced a partnership with BRD, which introduced their platform to 1.2 million users of the Bread Wallet application<ref name="newswire-618" />.

	=== Partnerships With Municipalities ===		=== Partnerships With Municipalities ===
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	=== Audit By MNP LLP ===		=== Audit By MNP LLP ===
	CoinBerry completed an audit by Canadian public accounting firm MNP LLP.<blockquote>"Coinberry is one of the first Canadian cryptocurrency trading platforms to audit its first year financial statements." "The audit was conducted by MNP LLP, one of the preeminent Canadian public accounting firms active in the blockchain and cryptocurrency space."</blockquote>The platform reportedly undergoes third party financial statement audits annually<ref name="privacypros-617" />.		CoinBerry completed an audit by Canadian public accounting firm MNP LLP<ref name=":1">[https://web.archive.org/web/20190204071652/https://www.newswire.ca/news-releases/coinberry-successfully-completes-first-year-financial-statement-audit-887882664.html Coinberry successfully completes first-year financial statement audit - Newswire Archive February 4th, 2019 12:16:52 AM MST] (Apr 28, 2023)</ref>. They were one of the first Canadian platforms to do so<ref name="canadiancryptomedium-619" />.<blockquote>"Coinberry is one of the first Canadian cryptocurrency trading platforms to audit its first year financial statements." "The audit was conducted by MNP LLP, one of the preeminent Canadian public accounting firms active in the blockchain and cryptocurrency space."</blockquote>The platform reportedly undergoes third party financial statement audits annually<ref name="privacypros-617" />.

	=== Wallet Storage Policies ===		=== Wallet Storage Policies ===
	CoinBerry placed a strong public emphasis on diligence<ref name="coinberry-614" /><ref name=":0">[https://web.archive.org/web/20210413140325/https://www.coinberry.com/learn/crypto-scams-fraud The Latest Crypto Scams & Fraud - CoinBerry] (Mar 31, 2023)</ref>.<blockquote>"Practicing due diligence is paramount. Research and continuous education of cryptocurrencies and the markets will arm you with the highest protection level possible." "Thieves and scammers in the crypto ecosystem write malware to attack your digital wallet, empty your accounts, spy on your clipboards to steal your cryptocurrency addresses, and swap out your exact addresses for those belonging to a scammer."</blockquote>Storage wallets have been described as "industry-standard cold-storage"<ref name="privacypros-617" />. The service reportedly implemented a ~~proper~~ multi-signature protection scheme on client funds.<blockquote>"We only use multisig cold storage wallets [m]eaning that any 2 members of the executive team are able to access the funds. What does this mean for you? If the CEO goes missing during a trip to open an orphanage in India, your Bitcoin, Ethereum and Litecoin will still be accessible by the Coinberry executive team."</blockquote>		CoinBerry placed a strong public emphasis on diligence<ref name="coinberry-614" /><ref name=":0">[https://web.archive.org/web/20210413140325/https://www.coinberry.com/learn/crypto-scams-fraud The Latest Crypto Scams & Fraud - CoinBerry] (Mar 31, 2023)</ref>.<blockquote>"Practicing due diligence is paramount. Research and continuous education of cryptocurrencies and the markets will arm you with the highest protection level possible." "Thieves and scammers in the crypto ecosystem write malware to attack your digital wallet, empty your accounts, spy on your clipboards to steal your cryptocurrency addresses, and swap out your exact addresses for those belonging to a scammer."</blockquote>Storage wallets have been described as "industry-standard cold-storage"<ref name="privacypros-617" />. The service reportedly implemented a multi-signature protection scheme on client funds, though this only required 2 members of the team to sign off on transactions<ref name="canadiancryptomedium-619" />.<blockquote>"We only use multisig cold storage wallets [m]eaning that any 2 members of the executive team are able to access the funds. What does this mean for you? If the CEO goes missing during a trip to open an orphanage in India, your Bitcoin, Ethereum and Litecoin will still be accessible by the Coinberry executive team."</blockquote>

	=== Guide Pages on Digital Security ===		=== Guide Pages on Digital Security ===
Line 38:		Line 41:
	!Event		!Event
	!Description		!Description
			\|-
			\|August 16th, 2018 7:00:00 AM MDT
			\|CoinBerry and BRD Partnership
			\|CoinBerry announces a partnership with BRD at the Blockchain Futurist Conference. BRD is a Swiss-headquartered company offering one of the first iOS cryptocurrency non-custodial wallet applications with 1.2 million users<ref name="newswire-618" /><ref name="bitcoinmagazine-622" />. TBD there may be more in this article. Also review the other article.
			\|-
			\|January 17th, 2019 8:10:00 AM MST
			\|Financial Statement Audits Completed
			\|CoinBerry announces completion of their first year financial statement audits. The audits were carried out by accounting firm MNP. The audit was successful, meaning that Coinberry's financial statements were "free from material misstatement". The platform was also one of the first Canadian cryptocurrency trading platforms to audit its financial statements, and is notable for being registered with the Financial Transactions and Reports Analysis Centre of Canada<ref name="newswire-620" /><ref name=":1" />.
			\|-
			\|February 6th, 2019 4:58:10 PM MST
			\|Aftermath of QuadrigaCX Article
			\|In the initial uncertainty of the QuadrigaCX platform going offline, CoinBerry publishes a Medium article highlighting how their services are "leading the pack not only in terms of ease of use, customer service, and pricing but also from the perspective of ''trust, security, and accountability''". They assure customers that their data, Bitcoin, Ethereum, Litecoin, and CAD deposits are safe and secure through various measures. Coinberry has fully supportive, transparent, and CDIC insured segregated banking in Canada, hierarchical wallets for crypto deposits, multisig cold storage wallets, a Business Continuity Plan, and strict Internal Controls and Storage Processes. Additionally, Coinberry is one of only two cryptocurrency trading platforms in Canada to successfully complete an independent Financial Statements audit, registered with the Financial Transactions and Reports Analysis Centre of Canada as a Money Service Business (MSB), and has its platform penetration tested by the top cybersecurity firm in the country. Personal information submitted on the platform is also OpenPGP protocol encrypted at rest on servers in Canada<ref name="canadiancryptomedium-619" />. TBD review for any further links to follow.
	\|-		\|-
	\|April 13th, 2020		\|April 13th, 2020
Line 46:		Line 61:
	\|Withdrawal System Shut Off		\|Withdrawal System Shut Off
	\|CoinBerry shuts off their withdrawal system for 17 hours after a withdrawal of 8.33 BTC.		\|CoinBerry shuts off their withdrawal system for 17 hours after a withdrawal of 8.33 BTC.
			\|-
			\|September 2nd, 2020 9:05:00 AM MDT
			\|Lloyd's Coverage CoinDesk Announcement
			\|CoinDesk publishes an article on CoinBerry announcing CoinBerry has secured a financial institution bond, becoming the first crypto firm in the country to obtain such coverage, according to CEO Andrei Poliakov. The surety bond is required for registration with the Ontario Securities Commission and provides insurance in case of dishonest or fraudulent acts by employees. The move comes after the collapse of rival exchange QuadrigaCX, which led to a loss of client funds and has resulted in a tightening of regulation in the country. The coverage limit is CAD1m ($764,000) per claim/incident and is underwritten by Lloyd's of London<ref name=":2">[https://www.coindesk.com/business/2020/09/02/coinberry-crypto-exchange-gets-lloyds-cover-as-canadas-post-quadriga-rules-tighten/ Coinberry Crypto Exchange Gets Lloyd's Cover as Canada's Post-Quadriga Rules Tighten - CoinDesk] (Apr 28, 2023)</ref>. “I cannot speak to whether the others in Canada are in the process of getting this,” Poliakov said in a follow-up email. “I do know some platforms are not applying at all, while others (like BitMEX) have already received instructions from the OSC to cease operation in Ontario because they are not going the registration route.”<ref name=":3">[https://web.archive.org/web/20210921092727/https://www.coindesk.com/business/2020/09/02/coinberry-crypto-exchange-gets-lloyds-cover-as-canadas-post-quadriga-rules-tighten/ Coinberry Crypto Exchange Gets Lloyd's Cover as Canada's Post-Quadriga Rules Tighten - CoinDesk Archive September 21st, 2021 3:27:27 AM MDT] (Apr 28, 2023)</ref>. The article is also shared on Yahoo Finance<ref name="yahoofinance-621" />.
	\|-		\|-
	\|October 29th, 2020 11:12:00 AM MDT		\|October 29th, 2020 11:12:00 AM MDT
Line 128:		Line 147:

	=== Financial Institution Bond ===		=== Financial Institution Bond ===
	"Toronto-based Coinberry has acquired a financial institution bond." "Coinberry’s surety bond is underwritten by the Lloyd’s of London insurance market and the coverage limit is CAD$1,000,000 ($764,000) per claim/incident, said Poliakov."		"Toronto-based Coinberry has acquired a financial institution bond." "Coinberry’s surety bond is underwritten by the Lloyd’s of London insurance market and the coverage limit is CAD$1,000,000 ($764,000) per claim/incident, said Poliakov."<ref name=":3" />

			CoinDesk publishes an article on CoinBerry announcing CoinBerry has secured a financial institution bond, becoming the first crypto firm in the country to obtain such coverage, according to CEO Andrei Poliakov. The surety bond is required for registration with the Ontario Securities Commission and provides insurance in case of dishonest or fraudulent acts by employees. The move comes after the collapse of rival exchange QuadrigaCX, which led to a loss of client funds and has resulted in a tightening of regulation in the country. The coverage limit is CAD1m ($764,000) per claim/incident and is underwritten by Lloyd's of London<ref name=":2" />. “I cannot speak to whether the others in Canada are in the process of getting this,” Poliakov said in a follow-up email. “I do know some platforms are not applying at all, while others (like BitMEX) have already received instructions from the OSC to cease operation in Ontario because they are not going the registration route.”<ref name=":3" />. The article is also shared on Yahoo Finance<ref name="yahoofinance-621" />.

			TBD Work on the wording of this section.

	=== Trading Fee Increases ===		=== Trading Fee Increases ===
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	<ref name="coinberry-616">[https://www.coinberry.com/fees Bitcoin Trading Fees in Canada \| Coinberry] (May 15, 2021)</ref>		<ref name="coinberry-616">[https://www.coinberry.com/fees Bitcoin Trading Fees in Canada \| Coinberry] (May 15, 2021)</ref>
	<ref name="privacypros-617">[https://web.archive.org/web/20210515224742/https://privacypros.io/exchanges/coinberry-review/ Coinberry Review: 5 Things to Know (2021 Updated)] (May 15, 2021)</ref>		<ref name="privacypros-617">[https://web.archive.org/web/20210515224742/https://privacypros.io/exchanges/coinberry-review/ Coinberry Review: 5 Things to Know (2021 Updated)] (May 15, 2021)</ref>
	<ref name="newswire-618">[https://www.newswire.ca/news-releases/no-fee-crypto-trading-platform-coinberry-partners-with-crypto-giant-brd-691015551.html No Fee Crypto Trading Platform Coinberry Partners with Crypto Giant BRD] (May 15, 2021)</ref>		<ref name="newswire-618">[https://www.newswire.ca/news-releases/no-fee-crypto-trading-platform-coinberry-partners-with-crypto-giant-brd-691015551.html No Fee Crypto Trading Platform Coinberry Partners with Crypto Giant BRD - Newswire] (May 15, 2021)</ref>
	<ref name="canadiancryptomedium-619">[https://medium.com/canadian-crypto/9-reasons-coinberry-is-ahead-of-competition-when-it-comes-to-security-and-accountability-8bb9c67bc07c 9 Reasons CoinBerry is Ahead of Competition When it Comes to Security and Accountability] (May 15, 2021)</ref>		<ref name="canadiancryptomedium-619">[https://medium.com/canadian-crypto/9-reasons-coinberry-is-ahead-of-competition-when-it-comes-to-security-and-accountability-8bb9c67bc07c 9 Reasons CoinBerry is Ahead of Competition When it Comes to Security and Accountability - CoinBerry Medium Post] (May 15, 2021)</ref>
	<ref name="newswire-620">[https://www.newswire.ca/news-releases/coinberry-successfully-completes-first-year-financial-statement-audit-887882664.html Coinberry successfully completes first-year financial statement audit] (May 15, 2021)</ref>		<ref name="newswire-620">[https://www.newswire.ca/news-releases/coinberry-successfully-completes-first-year-financial-statement-audit-887882664.html Coinberry successfully completes first-year financial statement audit - Newswire] (May 15, 2021)</ref>
	<ref name="yahoofinance-621">[https://finance.yahoo.com/news/coinberry-crypto-exchange-gets-osc-150526806.html Coinberry Crypto Exchange Gets Lloyd’s Cover as Canada’s Post-Quadriga Rules Tighten] (May 15, 2021)</ref>		<ref name="yahoofinance-621">[https://finance.yahoo.com/news/coinberry-crypto-exchange-gets-osc-150526806.html Coinberry Crypto Exchange Gets Lloyd’s Cover as Canada’s Post-Quadriga Rules Tighten - Yahoo Finance] (May 15, 2021)</ref>
	<ref name="bitcoinmagazine-622">[https://bitcoinmagazine.com/business/coinberry-traders-keep-control-keys-brd-crypto-wallet-integration Coinberry Traders Keep Control of Keys With BRD Crypto Wallet Integration - Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides] (May 15, 2021)</ref>		<ref name="bitcoinmagazine-622">[https://bitcoinmagazine.com/business/coinberry-traders-keep-control-keys-brd-crypto-wallet-integration Coinberry Traders Keep Control of Keys With BRD Crypto Wallet Integration - Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides] (May 15, 2021)</ref>
	<ref name="coinmarketcap-623">[https://coinmarketcap.com/currencies/bitcoin/historical-data/ Bitcoin price today, BTC live marketcap, chart, and info \| CoinMarketCap] (May 15, 2021)</ref>		<ref name="coinmarketcap-623">[https://coinmarketcap.com/currencies/bitcoin/historical-data/ Bitcoin price today, BTC live marketcap, chart, and info \| CoinMarketCap] (May 15, 2021)</ref>

Azoundria: https://web.archive.org/web/20210515224742/https://privacypros.io/exchanges/coinberry-review/ adding into the article, there are 13 sources left now.

2023-03-31T19:28:13Z

https://web.archive.org/web/20210515224742/https://privacypros.io/exchanges/coinberry-review/ adding into the article, there are 13 sources left now.

← Older revision		Revision as of 13:28, 31 March 2023
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	This exchange or platform is based in Canada, or the incident targeted people primarily in Canada.		This exchange or platform is based in Canada, or the incident targeted people primarily in Canada.
	~~<ref name="reddit-613" /><ref name="coinberry-614" /><ref name="coinberry-615" /><ref name="coinberry-616" /><ref name="privacypros-617" />~~<ref name="newswire-618" /><ref name="canadiancryptomedium-619" /><ref name="newswire-620" /><ref name="yahoofinance-621" /><ref name="bitcoinmagazine-622" /><ref name="coinmarketcap-623" /><ref name="coindesk-9856" /><ref name="crastbiz-9857" /><ref name="newsdotbitcoin-9858" /><ref name="protos-9859" /><ref name="techstory-9860" /><ref name="cryptonews-9861" /><ref name="cryptopotato-9862" />		<ref name="newswire-618" /><ref name="canadiancryptomedium-619" /><ref name="newswire-620" /><ref name="yahoofinance-621" /><ref name="bitcoinmagazine-622" /><ref name="coinmarketcap-623" /><ref name="coindesk-9856" /><ref name="crastbiz-9857" /><ref name="newsdotbitcoin-9858" /><ref name="protos-9859" /><ref name="techstory-9860" /><ref name="cryptonews-9861" /><ref name="cryptopotato-9862" />

	== About CoinBerry ==		== About CoinBerry ==
	Coinberry is Canada’s first regulated crypto-only trading platform<ref name="financialpost-9855" />.<blockquote>"Based in Toronto, Coinberry is Canada's first federally registered commission-free crypto trading platform, which secures the best cryptocurrency prices from trusted exchanges using proprietary algorithms." </blockquote>		Coinberry was founded in 2017<ref name="privacypros-617" /> and is Canada’s first regulated crypto-only trading platform<ref name="financialpost-9855" /> which called itself "the safest and most secure digital currency trading platform in Canada"<ref name="privacypros-617" />. In 2021, the platform supported Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, and Stellar<ref name="privacypros-617" />.<blockquote>"Based in Toronto, Coinberry is Canada's first federally registered commission-free crypto trading platform, which secures the best cryptocurrency prices from trusted exchanges using proprietary algorithms." </blockquote>In 2021, the platform offered zero funding or withdrawal fees, was registered with FINTRAC, and had low trading fees of 0.5%<ref name="privacypros-617" />. The CEO Andrei Poliakov describes the vision for the company<ref name="privacypros-617" />.<blockquote>At Coinberry we believe in an ''inclusive blockchain-based economy''. So we set out to build a ''global digital financial institution'' of the future. And we started with the most important step: building a trusted ''digital asset trading platform''.</blockquote>

	=== Partnerships With Municipalities ===		=== Partnerships With Municipalities ===
	One of the strategies which CoinBerry used to gain early trust with Canadians was their ongoing partnership with municipalities including the Town of Innisfil and the City of Richmond Hill.<blockquote>"~~Coinberry was founded in 2017.~~ In 2019, the Town of Innisfil officially partnered with the exchange. This was the first Canadian property tax payment paid in Bitcoin. Today, Coinberry also has a partnership with the City of Richmond Hill."</blockquote>Under this strategy, CoinBerry offered the towns the ability to accept payment for taxes through bitcoin. As there was no cost to participate, the municipalities only derived a potential benefit of extra revenue from the partnership.		One of the strategies which CoinBerry used to gain early trust with Canadians was their ongoing partnership with municipalities including the Town of Innisfil and the City of Richmond Hill which were established in 2019<ref name="privacypros-617" />.<blockquote>"In 2019, the Town of Innisfil officially partnered with the exchange. This was the first Canadian property tax payment paid in Bitcoin. Today, Coinberry also has a partnership with the City of Richmond Hill."</blockquote>Under this strategy, CoinBerry offered the towns the ability to accept payment for taxes through bitcoin through web or mobile devices<ref name="privacypros-617" />. As there was no cost to participate, the municipalities only derived a potential benefit of extra revenue from the partnership.

	=== Audit By MNP LLP ===		=== Audit By MNP LLP ===
	CoinBerry completed an audit by Canadian public accounting firm MNP LLP.<blockquote>"Coinberry is one of the first Canadian cryptocurrency trading platforms to audit its first year financial statements." "The audit was conducted by MNP LLP, one of the preeminent Canadian public accounting firms active in the blockchain and cryptocurrency space."</blockquote>		CoinBerry completed an audit by Canadian public accounting firm MNP LLP.<blockquote>"Coinberry is one of the first Canadian cryptocurrency trading platforms to audit its first year financial statements." "The audit was conducted by MNP LLP, one of the preeminent Canadian public accounting firms active in the blockchain and cryptocurrency space."</blockquote>The platform reportedly undergoes third party financial statement audits annually<ref name="privacypros-617" />.

	=== ~~Multi-Signature~~ Wallet Storage ===		=== Wallet Storage Policies ===
	CoinBerry placed a strong public emphasis on diligence.<blockquote>"Practicing due diligence is paramount. Research and continuous education of cryptocurrencies and the markets will arm you with the highest protection level possible." "Thieves and scammers in the crypto ecosystem write malware to attack your digital wallet, empty your accounts, spy on your clipboards to steal your cryptocurrency addresses, and swap out your exact addresses for those belonging to a scammer."</blockquote>The service reportedly implemented a proper multi-signature protection scheme on client funds.<blockquote>"We only use multisig cold storage wallets [m]eaning that any 2 members of the executive team are able to access the funds. What does this mean for you? If the CEO goes missing during a trip to open an orphanage in India, your Bitcoin, Ethereum and Litecoin will still be accessible by the Coinberry executive team."</blockquote>		CoinBerry placed a strong public emphasis on diligence<ref name="coinberry-614" /><ref name=":0">[https://web.archive.org/web/20210413140325/https://www.coinberry.com/learn/crypto-scams-fraud The Latest Crypto Scams & Fraud - CoinBerry] (Mar 31, 2023)</ref>.<blockquote>"Practicing due diligence is paramount. Research and continuous education of cryptocurrencies and the markets will arm you with the highest protection level possible." "Thieves and scammers in the crypto ecosystem write malware to attack your digital wallet, empty your accounts, spy on your clipboards to steal your cryptocurrency addresses, and swap out your exact addresses for those belonging to a scammer."</blockquote>Storage wallets have been described as "industry-standard cold-storage"<ref name="privacypros-617" />. The service reportedly implemented a proper multi-signature protection scheme on client funds.<blockquote>"We only use multisig cold storage wallets [m]eaning that any 2 members of the executive team are able to access the funds. What does this mean for you? If the CEO goes missing during a trip to open an orphanage in India, your Bitcoin, Ethereum and Litecoin will still be accessible by the Coinberry executive team."</blockquote>

			=== Guide Pages on Digital Security ===
			CoinBerry likes to teach others. The CoinBerry platform includes an entire page about "The Latest Crypto Scams & Fraud" and "how to protect yourself"<ref name="coinberry-614" /><ref name=":0">[https://web.archive.org/web/20210413140325/https://www.coinberry.com/learn/crypto-scams-fraud The Latest Crypto Scams & Fraud - CoinBerry] (Mar 31, 2023)</ref> and a page on "Digital Security for Cryptocurrency Investors"<ref name="coinberry-615" /><ref>[https://web.archive.org/web/20210413124715/https://www.coinberry.com/learn/digital-security Digital Security for Cryptocurrency Investors - CoinBerry] (Mar 31, 2023)</ref>.<blockquote>Crypto is the currency of the future. As it grows in popularity, cyber attackers and criminals find it an attractive target for digital theft and financial fraud. Investors, exchange organizations, and all stakeholders must adopt security practices to reduce the risks and protect their financial accounts and digital assets.</blockquote>

	== The Reality ==		== The Reality ==
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	\|October 29th, 2020 11:12:00 AM MDT		\|October 29th, 2020 11:12:00 AM MDT
	\|CipherBlade Twitter Report		\|CipherBlade Twitter Report
	\|Blockchain investigation firm CipherBlade reports that CoinBerry "appears to have been hacked a couple months ago". They note a transfer of "8.33 BTC stolen from Coinberry's hot wallet [and] sent to 1KcTk7kJMjYaCV3FXo5bzpjaZs2aK18ntz"<ref name="cipherbladetwitter-611" />.		\|Blockchain investigation firm CipherBlade reports that CoinBerry "appears to have been hacked a couple months ago". They note a transfer of "8.33 BTC stolen from Coinberry's hot wallet [and] sent to 1KcTk7kJMjYaCV3FXo5bzpjaZs2aK18ntz"<ref name="cipherbladetwitter-611" />. (TBD explore wallet.)
	\|-		\|-
	\|October 29th, 2020 12:36:00 PM MDT		\|October 29th, 2020 12:36:00 PM MDT
Line 54:		Line 57:
	\|October 30th, 2020 7:09:00 AM MDT		\|October 30th, 2020 7:09:00 AM MDT
	\|News Shared On Reddit		\|News Shared On Reddit
	\|The Cipherblade investigation tweet was shared to Reddit<ref name="reddit-613" />.		\|The Cipherblade investigation tweet was shared to Reddit<ref name="reddit-613" />. (TBD Need to expand.)
	\|-		\|-
	\|October 31st, 2020 12:02:14 PM MDT		\|October 31st, 2020 12:02:14 PM MDT
Line 66:		Line 69:
	\|November 11th, 2020 7:12:16 PM MST		\|November 11th, 2020 7:12:16 PM MST
	\|Fee Page Adjustments		\|Fee Page Adjustments
	\|CoinBerry network withdrawal fees appear to be 0.001 for BTC and have been moved to the top of the fees page. CoinBerry changed the text "0% Withdrawal Fees" to "0% CAD Withdrawal Fees"<ref>[https://web.archive.org/web/20200919205949/coinberry.com/fees CoinBerry Fees Page - September 19th, 2020 2:59:49 PM MDT] (Mar 29, 2023)</ref><ref>[https://web.archive.org/web/20201112021216/coinberry.com/fees CoinBerry Fees Page - November 11th, 2020 7:12:16 PM MST] (Mar 29, 2023)</ref>.		\|CoinBerry network withdrawal fees appear to be 0.001 for BTC and have been moved to the top of the fees page. CoinBerry changed the text "0% Withdrawal Fees" to "0% CAD Withdrawal Fees"<ref name="coinberry-616" /><ref>[https://web.archive.org/web/20200919205949/coinberry.com/fees CoinBerry Fees Page - September 19th, 2020 2:59:49 PM MDT] (Mar 29, 2023)</ref><ref>[https://web.archive.org/web/20201112021216/coinberry.com/fees CoinBerry Fees Page - November 11th, 2020 7:12:16 PM MST] (Mar 29, 2023)</ref>.
	\|-		\|-
	\|June 2022		\|June 2022
Line 163:		Line 166:
	<ref name="coinberry-615">[https://www.coinberry.com/learn/digital-security The Importance of Digital Security for Cryptocurrency Investors] (May 15, 2021)</ref>		<ref name="coinberry-615">[https://www.coinberry.com/learn/digital-security The Importance of Digital Security for Cryptocurrency Investors] (May 15, 2021)</ref>
	<ref name="coinberry-616">[https://www.coinberry.com/fees Bitcoin Trading Fees in Canada \| Coinberry] (May 15, 2021)</ref>		<ref name="coinberry-616">[https://www.coinberry.com/fees Bitcoin Trading Fees in Canada \| Coinberry] (May 15, 2021)</ref>
	<ref name="privacypros-617">[https://privacypros.io/exchanges/coinberry-review/ Coinberry Review: 5 Things to Know (2021 Updated)] (May 15, 2021)</ref>		<ref name="privacypros-617">[https://web.archive.org/web/20210515224742/https://privacypros.io/exchanges/coinberry-review/ Coinberry Review: 5 Things to Know (2021 Updated)] (May 15, 2021)</ref>
	<ref name="newswire-618">[https://www.newswire.ca/news-releases/no-fee-crypto-trading-platform-coinberry-partners-with-crypto-giant-brd-691015551.html No Fee Crypto Trading Platform Coinberry Partners with Crypto Giant BRD] (May 15, 2021)</ref>		<ref name="newswire-618">[https://www.newswire.ca/news-releases/no-fee-crypto-trading-platform-coinberry-partners-with-crypto-giant-brd-691015551.html No Fee Crypto Trading Platform Coinberry Partners with Crypto Giant BRD] (May 15, 2021)</ref>
	<ref name="canadiancryptomedium-619">[https://medium.com/canadian-crypto/9-reasons-coinberry-is-ahead-of-competition-when-it-comes-to-security-and-accountability-8bb9c67bc07c 9 Reasons CoinBerry is Ahead of Competition When it Comes to Security and Accountability] (May 15, 2021)</ref>		<ref name="canadiancryptomedium-619">[https://medium.com/canadian-crypto/9-reasons-coinberry-is-ahead-of-competition-when-it-comes-to-security-and-accountability-8bb9c67bc07c 9 Reasons CoinBerry is Ahead of Competition When it Comes to Security and Accountability] (May 15, 2021)</ref>

Azoundria: https://www.reddit.com/r/BitcoinCA/comments/jkwfjy/coinberry_was_hacked_earlier_this_year_according/ reviewing and including

2023-03-30T19:09:14Z

https://www.reddit.com/r/BitcoinCA/comments/jkwfjy/coinberry_was_hacked_earlier_this_year_according/ reviewing and including

← Older revision		Revision as of 13:09, 30 March 2023
Line 7:		Line 7:

	This exchange or platform is based in Canada, or the incident targeted people primarily in Canada.		This exchange or platform is based in Canada, or the incident targeted people primarily in Canada.
	~~<ref name="reddit-612" />~~<ref name="reddit-613" /><ref name="coinberry-614" /><ref name="coinberry-615" /><ref name="coinberry-616" /><ref name="privacypros-617" /><ref name="newswire-618" /><ref name="canadiancryptomedium-619" /><ref name="newswire-620" /><ref name="yahoofinance-621" /><ref name="bitcoinmagazine-622" /><ref name="coinmarketcap-623" /><ref name="coindesk-9856" /><ref name="crastbiz-9857" /><ref name="newsdotbitcoin-9858" /><ref name="protos-9859" /><ref name="techstory-9860" /><ref name="cryptonews-9861" /><ref name="cryptopotato-9862" />		<ref name="reddit-613" /><ref name="coinberry-614" /><ref name="coinberry-615" /><ref name="coinberry-616" /><ref name="privacypros-617" /><ref name="newswire-618" /><ref name="canadiancryptomedium-619" /><ref name="newswire-620" /><ref name="yahoofinance-621" /><ref name="bitcoinmagazine-622" /><ref name="coinmarketcap-623" /><ref name="coindesk-9856" /><ref name="crastbiz-9857" /><ref name="newsdotbitcoin-9858" /><ref name="protos-9859" /><ref name="techstory-9860" /><ref name="cryptonews-9861" /><ref name="cryptopotato-9862" />

	== About CoinBerry ==		== About CoinBerry ==
Line 51:		Line 51:
	\|Amy Castor Follow Up		\|Amy Castor Follow Up
	\|Journalist Amy Castor shares the tweet with the CoinBerry Twitter account for comment<ref>[https://twitter.com/ahcastor/status/1321883625042841601 Amy Castor - "@CoinberryHQ, care to comment on this?" - Twitter] (Mar 28, 2023)</ref>. No response is received from CoinBerry.		\|Journalist Amy Castor shares the tweet with the CoinBerry Twitter account for comment<ref>[https://twitter.com/ahcastor/status/1321883625042841601 Amy Castor - "@CoinberryHQ, care to comment on this?" - Twitter] (Mar 28, 2023)</ref>. No response is received from CoinBerry.
			\|-
			\|October 30th, 2020 7:09:00 AM MDT
			\|News Shared On Reddit
			\|The Cipherblade investigation tweet was shared to Reddit<ref name="reddit-613" />.
	\|-		\|-
	\|October 31st, 2020 12:02:14 PM MDT		\|October 31st, 2020 12:02:14 PM MDT

Azoundria: Sorting Immediate Reactions section. We already had that quote, so just tied it to a citation.

2023-03-30T19:01:44Z

Sorting Immediate Reactions section. We already had that quote, so just tied it to a citation.

← Older revision		Revision as of 13:01, 30 March 2023
Line 40:		Line 40:
	\|CoinBerry upgrades their Interac ETransfer payment system. This new system reportedly credits customers with the amount of their transfer before customers have actually completed the payment<ref name="financialpost-9855" />.		\|CoinBerry upgrades their Interac ETransfer payment system. This new system reportedly credits customers with the amount of their transfer before customers have actually completed the payment<ref name="financialpost-9855" />.
	\|-		\|-
	\|August 24th, 2020 12:00:00 AM ~~MST~~		\|August 24th, 2020 12:00:00 AM MDT
	\|Withdrawal System Shut Off		\|Withdrawal System Shut Off
	\|CoinBerry shuts off their withdrawal system for 17 hours after a withdrawal of 8.33 BTC.		\|CoinBerry shuts off their withdrawal system for 17 hours after a withdrawal of 8.33 BTC.
	\|-		\|-
	\|October 29th, 2020 11:12:00 AM ~~MST~~		\|October 29th, 2020 11:12:00 AM MDT
	\|CipherBlade Twitter Report		\|CipherBlade Twitter Report
	\|Blockchain investigation firm CipherBlade reports that CoinBerry "appears to have been hacked a couple months ago". They note a transfer of "8.33 BTC stolen from Coinberry's hot wallet [and] sent to 1KcTk7kJMjYaCV3FXo5bzpjaZs2aK18ntz"<ref name="cipherbladetwitter-611" />.		\|Blockchain investigation firm CipherBlade reports that CoinBerry "appears to have been hacked a couple months ago". They note a transfer of "8.33 BTC stolen from Coinberry's hot wallet [and] sent to 1KcTk7kJMjYaCV3FXo5bzpjaZs2aK18ntz"<ref name="cipherbladetwitter-611" />.
	\|-		\|-
	\|October 29th, 2020 12:36:00 PM ~~MST~~		\|October 29th, 2020 12:36:00 PM MDT
	\|Amy Castor Follow Up		\|Amy Castor Follow Up
	\|Journalist Amy Castor shares the tweet with the CoinBerry Twitter account for comment<ref>[https://twitter.com/ahcastor/status/1321883625042841601 Amy Castor - "@CoinberryHQ, care to comment on this?" - Twitter] (Mar 28, 2023)</ref>. No response is received from CoinBerry.		\|Journalist Amy Castor shares the tweet with the CoinBerry Twitter account for comment<ref>[https://twitter.com/ahcastor/status/1321883625042841601 Amy Castor - "@CoinberryHQ, care to comment on this?" - Twitter] (Mar 28, 2023)</ref>. No response is received from CoinBerry.
	\|-		\|-
	\|October 31st, 2020 12:02:14 PM ~~MST~~		\|October 31st, 2020 12:02:14 PM MDT
	\|Bitcoin Network Fee Controversy		\|Bitcoin Network Fee Controversy
	\|A Reddit thread notes that CoinBerry has increased their bitcoin withdrawal "network fee" to 0.003 BTC ($55 CAD)<ref name="reddit-612" />. At the time, users noted that the "average transaction right now is estimated to be around $11-12 USD"<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapvfer/ TI-IC - "average transaction right now is estimated to be around $11-12 USD" - Reddit] (Mar 29, 2023)</ref>. BitInfoCharts estimated the transaction fees for October 27th as $10.19, October 28th as $11.68, October 29th as $12.51, October 30th as $13.14, October 31st as $13.16, and November 1st as $8.69<ref>[https://bitinfocharts.com/comparison/bitcoin-transactionfees.html Historic Bitcoin Transaction Fees - BitInfoChart] (Mar 29, 2023)</ref>. The thread included multiple references to the hacking incident<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapz6hc/ jordan7104M - "even before they got hacked" - Reddit] (Mar 29, 2023)</ref><ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapvda5/ Fiach_Dubh - "care to comment on this, and this" - Reddit] (Mar 29, 2023)</ref><ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gaqd8c3/ eastender99 - "They got hacked and didnt admit it yet." - Reddit] (Mar 29, 2023)</ref>.		\|A Reddit thread notes that CoinBerry has increased their bitcoin withdrawal "network fee" to 0.003 BTC ($55 CAD)<ref name="reddit-612" />. At the time, users noted that the "average transaction right now is estimated to be around $11-12 USD"<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapvfer/ TI-IC - "average transaction right now is estimated to be around $11-12 USD" - Reddit] (Mar 29, 2023)</ref>. BitInfoCharts estimated the transaction fees for October 27th as $10.19, October 28th as $11.68, October 29th as $12.51, October 30th as $13.14, October 31st as $13.16, and November 1st as $8.69<ref>[https://bitinfocharts.com/comparison/bitcoin-transactionfees.html Historic Bitcoin Transaction Fees - BitInfoChart] (Mar 29, 2023)</ref>. The thread included multiple references to the hacking incident within minutes of posting<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapz6hc/ jordan7104M - "even before they got hacked" - Reddit] (Mar 29, 2023)</ref><ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapvda5/ Fiach_Dubh - "care to comment on this, and this" - Reddit] (Mar 29, 2023)</ref><ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gaqd8c3/ eastender99 - "They got hacked and didnt admit it yet." - Reddit] (Mar 29, 2023)</ref>.
			\|-
			\|October 31st, 2020 3:38:46 PM MDT
			\|Fee Adjustment Reported
			\|Reddit user W944 reports that the fees are back to 0.001 BTC<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gaqhkmx/ W944 - "Looks like they updated it." - Reddit] (Mar 30, 2023)</ref>.
	\|-		\|-
	\|November 11th, 2020 7:12:16 PM MST		\|November 11th, 2020 7:12:16 PM MST
Line 64:		Line 68:
	\|CoinBerry entered a lawsuit in Brampton, Ontario against 50 customers and Binance<ref name="financialpost-9855" />.		\|CoinBerry entered a lawsuit in Brampton, Ontario against 50 customers and Binance<ref name="financialpost-9855" />.
	\|-		\|-
	\|September 8th, 2022 9:34:04 AM		\|September 8th, 2022 9:34:04 AM MDT
	\|Financial Post Article		\|Financial Post Article
	\|A Financial Post article finally reveals the full extent of the losses<ref name="financialpost-9855" />, which was nearly immediately shared on Reddit<ref>[https://www.reddit.com/r/BitcoinCA/comments/x93k8t/coinberry_says_it_lost_3_million_in_bitcoin_due/ Coinberry says it lost $3 million in bitcoin due to a software glitch - Reddit] (Sep 8, 2022)</ref>. The extent of losses was not previously disclosed<ref name="financialpost-9855" />. CoinBerry had no comment on the matter at the time<ref name="financialpost-9855" />.		\|A Financial Post article finally reveals the full extent of the losses<ref name="financialpost-9855" />, which was nearly immediately shared on Reddit<ref>[https://www.reddit.com/r/BitcoinCA/comments/x93k8t/coinberry_says_it_lost_3_million_in_bitcoin_due/ Coinberry says it lost $3 million in bitcoin due to a software glitch - Reddit] (Sep 8, 2022)</ref>. The extent of losses was not previously disclosed<ref name="financialpost-9855" />. CoinBerry had no comment on the matter at the time<ref name="financialpost-9855" />.
Line 77:		Line 81:

	== Immediate Reactions ==		== Immediate Reactions ==
	CoinBerry reportedly fixed the issue and contacted all 546 customers to demand the bitcoin be returned<ref name="financialpost-9855" />.<blockquote>“Coinberry contacted all of the said 546 affected registered users by email and demanded return of the misappropriated bitcoins”</blockquote>CoinBerry also reportedly contacted Binance, who restricted accounts that had received the funds<ref name="financialpost-9855" />.<blockquote>“Binance acknowledged that it had identified a quantity of the misappropriated BTC and undertook to restrict any access to the accounts,”</blockquote>On August 24th, 2020, "there were no withdrawals processed from Coinberry's hot wallet for about 17 hours." It "[h]asn't been publicly reported yet. 8.33 BTC stolen from Coinberry's hot wallet & sent to 1KcTk7kJMjYaCV3FXo5bzpjaZs2aK18ntz. I guess they can't say they've never been hacked anymore."

			=== CoinBerry Shuts Off Hot Wallets ===
			On August 24th, 2020, "there were no withdrawals processed from Coinberry's hot wallet for about 17 hours." It "[h]asn't been publicly reported yet. 8.33 BTC stolen from Coinberry's hot wallet & sent to 1KcTk7kJMjYaCV3FXo5bzpjaZs2aK18ntz. I guess they can't say they've never been hacked anymore."

			=== CoinBerry Attempts at Recovery ===

			CoinBerry reportedly fixed the issue and contacted all 546 customers to demand the bitcoin be returned<ref name="financialpost-9855" />.<blockquote>“Coinberry contacted all of the said 546 affected registered users by email and demanded return of the misappropriated bitcoins”</blockquote>CoinBerry also reportedly contacted Binance, who restricted accounts that had received the funds<ref name="financialpost-9855" />.<blockquote>“Binance acknowledged that it had identified a quantity of the misappropriated BTC and undertook to restrict any access to the accounts,”</blockquote>“Binance acknowledged that it had identified a quantity of the misappropriated BTC and undertook to restrict any access to the accounts,” [a later] lawsuit read.

			=== CoinBerry Public Relations ===
			CoinBerry did not publicly report anything on the incident, and so the very first clue that anything had gone wrong for many users was the later tweet by CipherBlade.

			=== CipherBlade Investigation ===
	"Not sure exactly what the issue was, but possibilities include a social engineering attack, impersonation scam, or a bug that may have been exploited that allowed an attacker withdraw more than what they had (the latter seems by far to be the least likely vector to me)."		"Not sure exactly what the issue was, but possibilities include a social engineering attack, impersonation scam, or a bug that may have been exploited that allowed an attacker withdraw more than what they had (the latter seems by far to be the least likely vector to me)."

Line 86:		Line 100:

	"After the breach, when the hot wallet was turned off it had a balance of 0.06324605 BTC for a while -- if the seedphrase or private key had been breached, there would obviously be a balance of 0 (or very close to it). After about 17 hours, they (Coinberry) topped the hot wallet up with some funds before turning it on again."		"After the breach, when the hot wallet was turned off it had a balance of 0.06324605 BTC for a while -- if the seedphrase or private key had been breached, there would obviously be a balance of 0 (or very close to it). After about 17 hours, they (Coinberry) topped the hot wallet up with some funds before turning it on again."

	“Coinberry contacted all of the said 546 affected registered users by email and demanded return of the misappropriated bitcoins,” the lawsuit read. “Coinberry also immediately contacted Binance.”

	~~“Binance acknowledged that it had identified a quantity of the misappropriated BTC and undertook to restrict any access to the accounts,” [a later] lawsuit read.~~

	"[T]hey're still using the same wallet for withdrawals they were using before, presumably because they know it wasn't compromised, which is presumably because they know the real reason for the breach. If they knew the compromise occurred due to a social engineering attack for example, the wallet is still perfectly safe to use (or more technically, just as safe as it was before)."		"[T]hey're still using the same wallet for withdrawals they were using before, presumably because they know it wasn't compromised, which is presumably because they know the real reason for the breach. If they knew the compromise occurred due to a social engineering attack for example, the wallet is still perfectly safe to use (or more technically, just as safe as it was before)."

	"[I]f an individual account was compromised, there would be no reason for Coinberry to turn off their hot (withdrawal) wallet for 17 hours. Coinberry was compromised, not a Coinberry account."		"[I]f an individual account was compromised, there would be no reason for Coinberry to turn off their hot (withdrawal) wallet for 17 hours. Coinberry was compromised, not a Coinberry account."


	~~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?~~

	=== Community Reactions ===		=== Community Reactions ===
	Reddit user <blockquote>"Not a good look Coinberry. Yet another Canadian "exchange" failing to build the cryptoeconomy in Canada. Damn shame man I really though Canada would be a bigger player in that domain."</blockquote>		Reddit user TI-IC reacted to receiving news of the "hack" for the first time. At this time, the extent of the situation was still not known<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapw49g/ TI-IC - "Not a good look Coinberry." - Reddit] (Mar 20, 2023)</ref>. <blockquote>"Not a good look Coinberry. Yet another Canadian "exchange" failing to build the cryptoeconomy in Canada. Damn shame man I really though Canada would be a bigger player in that domain."</blockquote>

Azoundria: Hacking situation comments added to network fee controversy.

2023-03-29T17:50:12Z

Hacking situation comments added to network fee controversy.

← Older revision		Revision as of 11:50, 29 March 2023
Line 40:		Line 40:
	\|CoinBerry upgrades their Interac ETransfer payment system. This new system reportedly credits customers with the amount of their transfer before customers have actually completed the payment<ref name="financialpost-9855" />.		\|CoinBerry upgrades their Interac ETransfer payment system. This new system reportedly credits customers with the amount of their transfer before customers have actually completed the payment<ref name="financialpost-9855" />.
	\|-		\|-
	\|August 24th, 2020 12:00:00 AM		\|August 24th, 2020 12:00:00 AM MST
	\|Withdrawal System Shut Off		\|Withdrawal System Shut Off
	\|CoinBerry shuts off their withdrawal system for 17 hours after a withdrawal of 8.33 BTC.		\|CoinBerry shuts off their withdrawal system for 17 hours after a withdrawal of 8.33 BTC.
	\|-		\|-
	\|October 29th, 2020 11:12:00 AM		\|October 29th, 2020 11:12:00 AM MST
	\|CipherBlade Twitter Report		\|CipherBlade Twitter Report
	\|Blockchain investigation firm CipherBlade reports that CoinBerry "appears to have been hacked a couple months ago". They note a transfer of "8.33 BTC stolen from Coinberry's hot wallet [and] sent to 1KcTk7kJMjYaCV3FXo5bzpjaZs2aK18ntz"<ref name="cipherbladetwitter-611" />.		\|Blockchain investigation firm CipherBlade reports that CoinBerry "appears to have been hacked a couple months ago". They note a transfer of "8.33 BTC stolen from Coinberry's hot wallet [and] sent to 1KcTk7kJMjYaCV3FXo5bzpjaZs2aK18ntz"<ref name="cipherbladetwitter-611" />.
	\|-		\|-
	\|October 29th, 2020 12:36:00 PM		\|October 29th, 2020 12:36:00 PM MST
	\|Amy Castor Follow Up		\|Amy Castor Follow Up
	\|Journalist Amy Castor shares the tweet with the CoinBerry Twitter account for comment<ref>[https://twitter.com/ahcastor/status/1321883625042841601 Amy Castor - "@CoinberryHQ, care to comment on this?" - Twitter] (Mar 28, 2023)</ref>. No response is received from CoinBerry.		\|Journalist Amy Castor shares the tweet with the CoinBerry Twitter account for comment<ref>[https://twitter.com/ahcastor/status/1321883625042841601 Amy Castor - "@CoinberryHQ, care to comment on this?" - Twitter] (Mar 28, 2023)</ref>. No response is received from CoinBerry.
	\|-		\|-
	\|October 31st, 2020 12:02:14 PM		\|October 31st, 2020 12:02:14 PM MST
	\|Bitcoin Network Fee Controversy		\|Bitcoin Network Fee Controversy
	\|A Reddit thread notes that CoinBerry has increased their bitcoin withdrawal "network fee" to 0.03 BTC ($55 CAD)<ref name="reddit-612" />. At the time, users noted that the "average transaction right now is estimated to be around $11-12 USD"<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapvfer/ TI-IC - "average transaction right now is estimated to be around $11-12 USD" - Reddit] (Mar 29, 2023)</ref>.		\|A Reddit thread notes that CoinBerry has increased their bitcoin withdrawal "network fee" to 0.003 BTC ($55 CAD)<ref name="reddit-612" />. At the time, users noted that the "average transaction right now is estimated to be around $11-12 USD"<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapvfer/ TI-IC - "average transaction right now is estimated to be around $11-12 USD" - Reddit] (Mar 29, 2023)</ref>. BitInfoCharts estimated the transaction fees for October 27th as $10.19, October 28th as $11.68, October 29th as $12.51, October 30th as $13.14, October 31st as $13.16, and November 1st as $8.69<ref>[https://bitinfocharts.com/comparison/bitcoin-transactionfees.html Historic Bitcoin Transaction Fees - BitInfoChart] (Mar 29, 2023)</ref>. The thread included multiple references to the hacking incident<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapz6hc/ jordan7104M - "even before they got hacked" - Reddit] (Mar 29, 2023)</ref><ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapvda5/ Fiach_Dubh - "care to comment on this, and this" - Reddit] (Mar 29, 2023)</ref><ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gaqd8c3/ eastender99 - "They got hacked and didnt admit it yet." - Reddit] (Mar 29, 2023)</ref>.
			\|-
			\|November 11th, 2020 7:12:16 PM MST
			\|Fee Page Adjustments
			\|CoinBerry network withdrawal fees appear to be 0.001 for BTC and have been moved to the top of the fees page. CoinBerry changed the text "0% Withdrawal Fees" to "0% CAD Withdrawal Fees"<ref>[https://web.archive.org/web/20200919205949/coinberry.com/fees CoinBerry Fees Page - September 19th, 2020 2:59:49 PM MDT] (Mar 29, 2023)</ref><ref>[https://web.archive.org/web/20201112021216/coinberry.com/fees CoinBerry Fees Page - November 11th, 2020 7:12:16 PM MST] (Mar 29, 2023)</ref>.
	\|-		\|-
	\|June 2022		\|June 2022

Azoundria: Network fee controversy started.

2023-03-29T16:45:19Z

Network fee controversy started.

← Older revision		Revision as of 10:45, 29 March 2023
Line 51:		Line 51:
	\|Amy Castor Follow Up		\|Amy Castor Follow Up
	\|Journalist Amy Castor shares the tweet with the CoinBerry Twitter account for comment<ref>[https://twitter.com/ahcastor/status/1321883625042841601 Amy Castor - "@CoinberryHQ, care to comment on this?" - Twitter] (Mar 28, 2023)</ref>. No response is received from CoinBerry.		\|Journalist Amy Castor shares the tweet with the CoinBerry Twitter account for comment<ref>[https://twitter.com/ahcastor/status/1321883625042841601 Amy Castor - "@CoinberryHQ, care to comment on this?" - Twitter] (Mar 28, 2023)</ref>. No response is received from CoinBerry.
			\|-
			\|October 31st, 2020 12:02:14 PM
			\|Bitcoin Network Fee Controversy
			\|A Reddit thread notes that CoinBerry has increased their bitcoin withdrawal "network fee" to 0.03 BTC ($55 CAD)<ref name="reddit-612" />. At the time, users noted that the "average transaction right now is estimated to be around $11-12 USD"<ref>[https://www.reddit.com/r/BitcoinCA/comments/jlmz5j/comment/gapvfer/ TI-IC - "average transaction right now is estimated to be around $11-12 USD" - Reddit] (Mar 29, 2023)</ref>.
	\|-		\|-
	\|June 2022		\|June 2022

Azoundria: Major expansions to nearly every section of the wiki article.

2023-03-28T17:57:57Z

Major expansions to nearly every section of the wiki article.

Show changes