Mercado Bitcoin - Revision history

Azoundria: 30 minutes. Improve the opening summary description. Review and minor modifications to the platform. Completed an full prevention section from templates. Added in information from both remaining BitcoinTalk forum threads and resolved all open sources. Updated and added information on the ongoing discussions, which ran into 2022. Prepared promotional Tweet.

2024-04-03T19:58:08Z

30 minutes. Improve the opening summary description. Review and minor modifications to the platform. Completed an full prevention section from templates. Added in information from both remaining BitcoinTalk forum threads and resolved all open sources. Updated and added information on the ongoing discussions, which ran into 2022. Prepared promotional Tweet.

← Older revision		Revision as of 13:58, 3 April 2024
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	{{Case Study Under Construction}}~~{{Unattributed Sources}}~~		{{Case Study Under Construction}}[[File:Mercadobitcoin.jpg\|thumb\|Mercado Bitcoin Logo/Homepage]]Mercado Bitcoin was a popular bitcoin exchange based in Brazil. Unfortunately, there was an issue with their platform which allowed users to be credited with funds in their account without completing an actual deposit. The Mercado Bitcoin team claimed an intent to reimburse all customers, and some customers reported being reimbursed, however there are ongoing claims that many users were never made whole.

	[[File:Mercadobitcoin.jpg\|thumb\|Mercado Bitcoin Logo/Homepage]]Mercado Bitcoin was a ~~dominant~~ exchange based in Brazil.

	~~I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange~~ was ~~long suspected~~ to ~~not~~ be ~~fully backed to begin with, and was of course not stored properly~~ with ~~any sort of multi-signature cold storage wallet.~~

	~~This exchange or platform is based~~ in ~~Germany, or the incident targeted people primarily in Germany.<ref name=":1">[https://bitcointalk.org/index.php?topic=179992~~.~~0 Semelhanças entre Leandro~~ Mercado Bitcoin ~~e Pirateat40 - BitcoinTalk] (Feb 27~~, ~~2024)</ref><ref name=":2">[https://bitcointalk.org/index~~.~~php?topic=160150.0 Problema do Mercado Bitcoin - BitcoinTalk] (Feb 27, 2024)</ref>~~

	== About Mercado Bitcoin ==		== About Mercado Bitcoin ==
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	The platform had an issue where a user could generate a balance in their account without properly completing a deposit, which could be exploited to steal funds.		The platform had an issue where a user could generate a balance in their account without properly completing a deposit, which could be exploited to steal funds.

	Some users have claimed that Bitcoin Rain was a ponzi scheme operated by Leandro, the administrator of Mercado Bitcoin<ref name=":1" />.		Some users have claimed that Bitcoin Rain was a ponzi scheme operated by Leandro, the administrator of Mercado Bitcoin<ref name=":1">[https://bitcointalk.org/index.php?topic=179992.0 Semelhanças entre Leandro Mercado Bitcoin e Pirateat40 - BitcoinTalk] (Feb 27, 2024)</ref>.

	== What Happened ==		== What Happened ==
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	\|March 28th, 2013 8:32:18 AM MDT		\|March 28th, 2013 8:32:18 AM MDT
	\|BitcoinTalk Thread Announces Breach		\|BitcoinTalk Thread Announces Breach
	\|A BitcoinTalk thread announces a security breach of the Mercado Bitcoin marketplace<ref name="bitcointalklistold-20" /><ref name=":2" />. The breach reportedly had happened over the course of the past few days.		\|A BitcoinTalk thread announces a security breach of the Mercado Bitcoin marketplace<ref name="bitcointalklistold-20" /><ref name=":2">[https://bitcointalk.org/index.php?topic=160150.0 Problema do Mercado Bitcoin - BitcoinTalk] (Feb 27, 2024)</ref>. The breach reportedly had happened over the course of the past few days.
	\|-		\|-
	\|March 28th, 2013		\|March 28th, 2013
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	\|March 29th, 2013		\|March 29th, 2013
	\|Update Provided To Users		\|Update Provided To Users
	\|Leandro ~~pro~~		\|Leandro provides an update to the community.
	\|-		\|-
	\|April 1st, 2013		\|April 1st, 2013
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	\|April 18th, 2013 3:47:29 PM MDT		\|April 18th, 2013 3:47:29 PM MDT
	\|BitcoinTalk Thread Claiming Ponzi		\|BitcoinTalk Thread Claiming Ponzi
	\|A BitcoinTalk thread started by user Erectus in Portuguese compares Mercado Bitcoin / Bitcoin Rain to the ponzi scheme run by Trendon Shavers<ref name=":1" />.		\|A BitcoinTalk thread started by user Erectus in Portuguese compares Mercado Bitcoin / Bitcoin Rain to the ponzi scheme run by Trendon Shavers<ref name=":1" />. Users compare their actions, alleging that Leandro operated a Ponzi scheme similar to Pirateat40's, based on evidence such as mixing funds from different ventures for "security." They criticize Leandro's handling of the situation, pointing out discrepancies in his claims of a hack and the movement of funds<ref name=":1" />. While some defend Leandro, urging for transparency and investigation, others express skepticism and advise caution in dealing with centralized exchanges. The debate underscores concerns about trust, accountability, and the security of Bitcoin investments<ref name=":1" />.
	\|-		\|-
	\|April 18th, 2013 5:25:34 PM MDT		\|April 18th, 2013 5:25:34 PM MDT
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	=== Accusations of Bitcoin Rain Ponzi ===		=== Accusations of Bitcoin Rain Ponzi ===
	Accusations were levied against Leandro by a user named Erectus<ref name=":1" />. The discussion on the BitcoinTalk forum, in Portuguese, revolves around similarities between Leandro Mercado Bitcoin and Pirateat40, focusing on potential fraudulent activities<ref name=":1" />. Participants highlight resemblances in the way Leandro managed Bitcoin Rain and Mercado Bitcoin, drawing parallels to [[Bitcoin Savings and Trust\|the Ponzi scheme orchestrated by Pirateat40]]<ref name=":1" />. Accusations include Leandro mixing funds from different entities, failure to provide clear explanations regarding alleged theft, and suspicions arising from the sudden shutdown of Bitcoin Rain after critical posts<ref name=":1" />. Erectus claims that Bitcoin Rain was a ponzi scheme and pointed to evidence that bitcoins involved in Bitcoin Rain had not been moved during the theft period<ref name=":1" />. While some express concerns and demand transparency from Leandro, others defend him or call for further investigation. Overall, the discussion reflects a mix of skepticism, frustration, and uncertainty among forum members regarding the legitimacy of Leandro's operations<ref name=":1" />.		Accusations were levied against Leandro by a user named Erectus<ref name=":1" />. The discussion on the BitcoinTalk forum, in Portuguese, revolves around similarities between Leandro Mercado Bitcoin and Pirateat40, focusing on potential fraudulent activities<ref name=":1" />. Participants highlight resemblances in the way Leandro managed Bitcoin Rain and Mercado Bitcoin, drawing parallels to [[Bitcoin Savings and Trust\|the Ponzi scheme orchestrated by Pirateat40]]<ref name=":1" />. Accusations include Leandro mixing funds from different entities, failure to provide clear explanations regarding alleged theft, and suspicions arising from the sudden shutdown of Bitcoin Rain after critical posts<ref name=":1" />. Erectus claims that Bitcoin Rain was a ponzi scheme and pointed to evidence that bitcoins involved in Bitcoin Rain had not been moved during the theft period<ref name=":1" />. While some express concerns and demand transparency from Leandro, others defend him or call for further investigation. Overall, the discussion reflects a mix of skepticism, frustration, and uncertainty among forum members regarding the legitimacy of Leandro's operations<ref name=":1" />.

			Leandro César challenged Erectus to provide evidence of his claims, insinuating doubt about Erectus's involvement with the platform in question<ref name=":4">[https://bitcointalk.org/index.php?topic=179992.40 Re: Semelhanças entre Leandro Mercado Bitcoin e Pirateat40 - BitcoinTalk] (Accessed Apr 3, 2024)</ref>. The exchange became increasingly hostile, with accusations and insults exchanged between Leandro César and another user named psy, who is also a moderator<ref name=":4">[https://bitcointalk.org/index.php?topic=179992.40 Re: Semelhanças entre Leandro Mercado Bitcoin e Pirateat40 - BitcoinTalk] (Accessed Apr 3, 2024)</ref>.

	=== Reimbursements Announced ===		=== Reimbursements Announced ===
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	== Ongoing Developments ==		== Ongoing Developments ==
	~~TBD~~		Despite some reimbursements for losses on Mercado Bitcoin, users of Bitcoin Rain were left uncompensated<ref name=":5">[https://bitcointalk.org/index.php?topic=160150.900 Re: Problema do Mercado Bitcoin - BitcoinTalk] (Accessed Apr 3, 2024)</ref>. Discussions continue into 2022 and touch on a reported acquisition of Mercado Bitcoin by Coinbase and the complexity of the situation, with doubts about whether Coinbase would inherit the liabilities of the previous company<ref name=":5">[https://bitcointalk.org/index.php?topic=160150.900 Re: Problema do Mercado Bitcoin - BitcoinTalk] (Accessed Apr 3, 2024)</ref>. Users express frustration over the lack of accountability and resolution, with ongoing concerns about the whereabouts of Leandro César. Additionally, a user reports a recent issue with their Mercado Bitcoin account, indicating ongoing problems with the platform's services<ref name=":5">[https://bitcointalk.org/index.php?topic=160150.900 Re: Problema do Mercado Bitcoin - BitcoinTalk] (Accessed Apr 3, 2024)</ref>.
	== Individual Prevention Policies ==		== Individual Prevention Policies ==
	{{Prevention:Individuals:~~Placeholder~~}}		{{Prevention:Individuals:Avoid Third Party Custodians}}

			{{Prevention:Individuals:Store Funds Offline}}

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

	== Platform Prevention Policies ==		== Platform Prevention Policies ==
	{{Prevention:Platforms:~~Placeholder~~}}		{{Prevention:Platforms:Implement Multi-Signature}}

			{{Prevention:Platforms:Regular Audit Procedures}}

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

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

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

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

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

Azoundria: 30 minutes. Adjusted country from Germany to Brazil. Improved wording of article. Fixed launch data from March 10th to October 3rd. Kyle Gibson information incorporated. Sorting through and expanding the loss information. Reviewed more on BitcoinTalk thread and added English version of thread.

2024-04-02T17:27:25Z

30 minutes. Adjusted country from Germany to Brazil. Improved wording of article. Fixed launch data from March 10th to October 3rd. Kyle Gibson information incorporated. Sorting through and expanding the loss information. Reviewed more on BitcoinTalk thread and added English version of thread.

← Older revision		Revision as of 11:27, 2 April 2024
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	{{Case Study Under Construction}}{{Unattributed Sources}}		{{Case Study Under Construction}}{{Unattributed Sources}}

	[[File:Mercadobitcoin.jpg\|thumb\|Mercado Bitcoin Logo/Homepage]]Mercado Bitcoin was a dominant exchange .		[[File:Mercadobitcoin.jpg\|thumb\|Mercado Bitcoin Logo/Homepage]]Mercado Bitcoin was a dominant exchange based in Brazil.

	I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.		I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.

	This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.~~<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" />~~<ref name=":1">[https://bitcointalk.org/index.php?topic=179992.0 Semelhanças entre Leandro Mercado Bitcoin e Pirateat40 - BitcoinTalk] (Feb 27, 2024)</ref><ref name=":2">[https://bitcointalk.org/index.php?topic=160150.0 Problema do Mercado Bitcoin - BitcoinTalk] (Feb 27, 2024)</ref>		This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name=":1">[https://bitcointalk.org/index.php?topic=179992.0 Semelhanças entre Leandro Mercado Bitcoin e Pirateat40 - BitcoinTalk] (Feb 27, 2024)</ref><ref name=":2">[https://bitcointalk.org/index.php?topic=160150.0 Problema do Mercado Bitcoin - BitcoinTalk] (Feb 27, 2024)</ref>

	== About Mercado ==		== About Mercado Bitcoin ==

	The Mercado Bitcoin (Portuguese for Bitcoin Market) claimed to be the best place to buy and sell bitcoins in Brazil<ref name=":3">[https://web.archive.org/web/20130310031854/http://www.mercadobitcoin.com.br/ Mercado Bitcoin Homepage Archive March 9th, 2013 8:18:54 PM MST] (Accessed Mar 12, 2024)</ref>. In addition to bitcoin trading, the homepage acted as a source for the latest Bitcoin news, promising to help investors make informed decisions in the cryptocurrency market<ref name=":3">[https://web.archive.org/web/20130310031854/http://www.mercadobitcoin.com.br/ Mercado Bitcoin Homepage Archive March 9th, 2013 8:18:54 PM MST] (Accessed Mar 12, 2024)</ref>.		The Mercado Bitcoin (Portuguese for Bitcoin Market) claimed to be the best place to buy and sell bitcoins in Brazil<ref name=":3">[https://web.archive.org/web/20130310031854/http://www.mercadobitcoin.com.br/ Mercado Bitcoin Homepage Archive March 9th, 2013 8:18:54 PM MST] (Accessed Mar 12, 2024)</ref>. In addition to bitcoin trading, the homepage acted as a source for the latest Bitcoin news, promising to help investors make informed decisions in the cryptocurrency market<ref name=":3">[https://web.archive.org/web/20130310031854/http://www.mercadobitcoin.com.br/ Mercado Bitcoin Homepage Archive March 9th, 2013 8:18:54 PM MST] (Accessed Mar 12, 2024)</ref>.
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	== The Reality ==		== The Reality ==
	The ~~bitcoin rain~~ platform had an issue where a user could generate a balance in their account without properly completing a deposit.		The platform had an issue where a user could generate a balance in their account without properly completing a deposit, which could be exploited to steal funds.

			Some users have claimed that Bitcoin Rain was a ponzi scheme operated by Leandro, the administrator of Mercado Bitcoin<ref name=":1" />.

	== What Happened ==		== What Happened ==
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	!Description		!Description
	\|-		\|-
	\|~~March 10th~~, 2011		\|October 3rd, 2011
	\|Bitcoin Rain Launch		\|Bitcoin Rain Launch Date
	\|The ~~reported launch~~ of the Bitcoin Rain ~~ponzi~~ scheme<ref name="bitcointalklistold-20" />.		\|The start date of the Bitcoin Rain scheme which is listed on BitcoinTalk<ref name="bitcointalklistold-20" />.
	\|-		\|-
	\|March 28th, 2013 8:32:18 AM MDT		\|March 28th, 2013 8:32:18 AM MDT
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	\|March 28th, 2013		\|March 28th, 2013
	\|Bitcoin Rain Defaulted		\|Bitcoin Rain Defaulted
	\|The ponzi scheme Bitcoin Rain defaults<ref name="bitcointalklistold-20" />.		\|The ponzi scheme Bitcoin Rain defaults<ref name="kylegibson-86" /><ref name="bitcointalklistold-20" />.
	\|-		\|-
	\|March 29th, 2013		\|March 29th, 2013
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	\|April 18th, 2013 3:47:29 PM MDT		\|April 18th, 2013 3:47:29 PM MDT
	\|BitcoinTalk Thread Claiming Ponzi		\|BitcoinTalk Thread Claiming Ponzi
	\|A BitcoinTalk thread in Portuguese compares Mercado Bitcoin / Bitcoin Rain to the ponzi scheme run by Trendon Shavers<ref name=":1" />.		\|A BitcoinTalk thread started by user Erectus in Portuguese compares Mercado Bitcoin / Bitcoin Rain to the ponzi scheme run by Trendon Shavers<ref name=":1" />.
	\|-		\|-
	\|April 18th, 2013 5:25:34 PM MDT		\|April 18th, 2013 5:25:34 PM MDT
	\|Mercado Bitcoin Back Online		\|Mercado Bitcoin Back Online
	\|The Mercado Bitcoin exchange is reportedly brought back online in an announcement on BitcoinTalk<ref name=":2" />. The original thread about the security breach is updated to announce the relaunch<ref name=":2" />.		\|The Mercado Bitcoin exchange is reportedly brought back online in an announcement on BitcoinTalk<ref name=":2" />. The original thread about the security breach is updated to announce the relaunch<ref name=":2" />.
			\|-
			\|July 26th, 2013 9:38:21 PM MDT
			\|BitcoinTalk Thread In English
			\|A copy of the BitcoinTalk accusations is posted in English. However, this thread appears to receive only a single reply and very limited engagement<ref>[https://bitcointalk.org/index.php?topic=263231.0 New pirateat40 in Brasil! Leandro César owner of MercadoBitcoin.com.br - BitcoinTalk] (Accessed Apr 2, 2024)</ref>.
	\|}		\|}

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	As Bitcoin Rain's funds were stored there, investors in Bitcoin Rain as well as account holders on Mercado Bitcoin lost money. Some money was reportedly paid back, but the vast majority is still outstanding.”		As Bitcoin Rain's funds were stored there, investors in Bitcoin Rain as well as account holders on Mercado Bitcoin lost money. Some money was reportedly paid back, but the vast majority is still outstanding.”

	~~The~~ BitcoinTalk list has estimated the amount lost as 4,000 bitcoin<ref name="bitcointalklistold-20" />, which was an average of known Bitcoin Rain ~~victims,~~ Mercado Bitcoin victims, and a donation address<ref name=":0" />.		A BitcoinTalk list prepared by dree12 has estimated the amount lost as 4,000 bitcoin<ref name="bitcointalklist-87" /><ref name="bitcointalklistold-20" />, which was taken from an average of known Bitcoin Rain and Mercado Bitcoin victims, as well as a donation address<ref name="bitcointalklist-87" /><ref name="bitcointalklistold-20" /><ref name=":0" />. According to the provided spreadsheet, there were 2734.821192 bitcoin reported missing, and a donation address was able to generate 5075.181457 bitcoin in total, with an average of 3905.001325 bitcoin which was rounded to 4000<ref name=":0" />.

			BitcoinTalk user dree12 gave a further estimate of the equivalent value of 2,150 bitcoin in 2013<ref name="bitcointalklistold-20" />. This was reported as the amount of the loss by Kyle Gibson<ref name="kylegibson-86" />. The value was later estimated to be equivalent to 284 bitcoin in January 2014, or $231,440 USD<ref name="bitcointalklist-87" />.

	=== Victims of Bitcoin Rain ===		=== Victims of Bitcoin Rain ===
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	== Ultimate Outcome ==		== Ultimate Outcome ==

			=== Accusations of Bitcoin Rain Ponzi ===
			Accusations were levied against Leandro by a user named Erectus<ref name=":1" />. The discussion on the BitcoinTalk forum, in Portuguese, revolves around similarities between Leandro Mercado Bitcoin and Pirateat40, focusing on potential fraudulent activities<ref name=":1" />. Participants highlight resemblances in the way Leandro managed Bitcoin Rain and Mercado Bitcoin, drawing parallels to [[Bitcoin Savings and Trust\|the Ponzi scheme orchestrated by Pirateat40]]<ref name=":1" />. Accusations include Leandro mixing funds from different entities, failure to provide clear explanations regarding alleged theft, and suspicions arising from the sudden shutdown of Bitcoin Rain after critical posts<ref name=":1" />. Erectus claims that Bitcoin Rain was a ponzi scheme and pointed to evidence that bitcoins involved in Bitcoin Rain had not been moved during the theft period<ref name=":1" />. While some express concerns and demand transparency from Leandro, others defend him or call for further investigation. Overall, the discussion reflects a mix of skepticism, frustration, and uncertainty among forum members regarding the legitimacy of Leandro's operations<ref name=":1" />.

	=== Reimbursements Announced ===		=== Reimbursements Announced ===
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	== Total Amount Recovered ==		== Total Amount Recovered ==

			Leandro announced that customers of the exchange would be refunded.

	~~Leandro announced that customers of~~ the ~~exchange would be refunded~~		According to BitcoinTalk, some funds were reportedly paid back, however the vast majority remained outstanding<ref name="bitcointalklistold-20" />.

	A donation address set up by Leandro César received a reported 5075.181457 bitcoin<ref name=":0" />. There was suspicion that Leandro César was donating to this address himself<ref name=":0" />.		A donation address set up by Leandro César received a reported 5075.181457 bitcoin<ref name=":0" />. There was suspicion that Leandro César was donating to this address himself<ref name=":0" />.

Azoundria: 30 minutes. Reworded the about section to improve readability. Lots of research and incorporation of information from the BitcoinTalk thread. Expanding the wiki sections and removing placeholders.

2024-04-01T18:37:18Z

30 minutes. Reworded the about section to improve readability. Lots of research and incorporation of information from the BitcoinTalk thread. Expanding the wiki sections and removing placeholders.

Show changes

Azoundria: Another 30 minutes. Exrtensive review of BitcoinTalk. Added a logo. Adding information from the Mercado Bitcoin homepage to the description. Update timeline with BitcoinTalk thread.

2024-03-12T22:34:25Z

Another 30 minutes. Exrtensive review of BitcoinTalk. Added a logo. Adding information from the Mercado Bitcoin homepage to the description. Update timeline with BitcoinTalk thread.

← Older revision		Revision as of 16:34, 12 March 2024
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	[[File:Mercadobitcoin.jpg\|thumb\|Mercado Bitcoin Logo/Homepage]]I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.		[[File:Mercadobitcoin.jpg\|thumb\|Mercado Bitcoin Logo/Homepage]]I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.

	This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref>https://bitcointalk.org/index.php?topic=179992.0 (Feb 27, 2024)</ref><ref>https://bitcointalk.org/index.php?topic=160150.0 (Feb 27, 2024)</ref>		This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name=":1">[https://bitcointalk.org/index.php?topic=179992.0 Semelhanças entre Leandro Mercado Bitcoin e Pirateat40 - BitcoinTalk] (Feb 27, 2024)</ref><ref>https://bitcointalk.org/index.php?topic=160150.0 (Feb 27, 2024)</ref>

	== About Mercado ==		== About Mercado ==

			The Mercado Bitcoin (Portuguese for Bitcoin Market) claimed to be the best place to buy and sell bitcoins in Brazil. As of March 9th, 2013, the platform boasted 2218 users, 78 open orders, and 92 bitcoins for sale, with 479 operations in the last 30 days. Over the past 90 days, the market has shown steady activity, with fluctuations in value against the Brazilian Real. Recent trends indicate a surge in trading volume, with notable fluctuations in Bitcoin prices. Stay updated with the latest Bitcoin news, including current prices and trading volumes, to make informed decisions in the cryptocurrency market<ref>[https://web.archive.org/web/20130310031854/http://www.mercadobitcoin.com.br/ Mercado Bitcoin Homepage Archive March 9th, 2013 8:18:54 PM MST] (Accessed Mar 12, 2024)</ref>.

	~~This exchange or platform is based in Germany, or~~ the ~~incident targeted people primarily~~ in ~~Germany~~.

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

	~~Include:~~

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

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

	== The Reality ==		== The Reality ==
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	\|The ponzi scheme Bitcoin Rain defaults<ref name="bitcointalklistold-20" />. On the same day, Leandro César claimed there was a security breach on his exchange website<ref name="bitcointalklistold-20" />.		\|The ponzi scheme Bitcoin Rain defaults<ref name="bitcointalklistold-20" />. On the same day, Leandro César claimed there was a security breach on his exchange website<ref name="bitcointalklistold-20" />.
	\|-		\|-
	\|		\|April 18th, 2013 3:47:29 PM MDT
	\|		\|BitcoinTalk Thread Claiming Ponzi
	\|		\|A BitcoinTalk thread in Portuguese compares Mercado Bitcoin / Bitcoin Rain to the ponzi scheme run by Trendon Shavers<ref name=":1" />.
	\|}		\|}

Azoundria at 22:28, 12 March 2024

2024-03-12T22:28:01Z

← Older revision		Revision as of 16:28, 12 March 2024
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	{{Unattributed Sources}}		{{Unattributed Sources}}

	I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.		[[File:Mercadobitcoin.jpg\|thumb\|Mercado Bitcoin Logo/Homepage]]I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.

	This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref>https://bitcointalk.org/index.php?topic=179992.0 (Feb 27, 2024)</ref><ref>https://bitcointalk.org/index.php?topic=160150.0 (Feb 27, 2024)</ref>		This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref>https://bitcointalk.org/index.php?topic=179992.0 (Feb 27, 2024)</ref><ref>https://bitcointalk.org/index.php?topic=160150.0 (Feb 27, 2024)</ref>

Azoundria: COMPLETED Another 30 minutes. About section spread around. Started reviewing and integrating information from different sources further.

2024-02-27T18:37:06Z

COMPLETED Another 30 minutes. About section spread around. Started reviewing and integrating information from different sources further.

← Older revision		Revision as of 12:37, 27 February 2024
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	I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.		I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.

	This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" />		This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref>https://bitcointalk.org/index.php?topic=179992.0 (Feb 27, 2024)</ref><ref>https://bitcointalk.org/index.php?topic=160150.0 (Feb 27, 2024)</ref>

	== About Mercado ==		== About Mercado ==
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	As Bitcoin Rain's funds were stored there, investors in Bitcoin Rain as well as account holders on Mercado Bitcoin lost money. Some money was reportedly paid back, but the vast majority is still outstanding.”		As Bitcoin Rain's funds were stored there, investors in Bitcoin Rain as well as account holders on Mercado Bitcoin lost money. Some money was reportedly paid back, but the vast majority is still outstanding.”

	The BitcoinTalk list has estimated the amount lost as 4,000 bitcoin<ref name="bitcointalklistold-20" />. A Google Docs lists some of the victims<ref>[https://docs.google.com/spreadsheets/d/1kFhHzq0ak2LyVw_9a_fQFgS_RW-K9_lx0mdw5JpTFZU/edit#gid=0 Bitcoin Rain - Google Sheets] (Accessed Feb 27, 2024)</ref>.		The BitcoinTalk list has estimated the amount lost as 4,000 bitcoin<ref name="bitcointalklistold-20" />, which was an average of known Bitcoin Rain victims, Mercado Bitcoin victims, and a donation address<ref name=":0" />.

			=== Victims of Bitcoin Rain ===
			A Google Docs lists some of the victims in Bitcoin Rain<ref name=":0">[https://docs.google.com/spreadsheets/d/1kFhHzq0ak2LyVw_9a_fQFgS_RW-K9_lx0mdw5JpTFZU/edit#gid=0 Bitcoin Rain - Google Sheets] (Accessed Feb 27, 2024)</ref>.
	{\| class="wikitable"		{\| class="wikitable"
	\|BitcoinTalk User		!BitcoinTalk User
	\|Scammed XBT		!Scammed XBT
	\|Source		!Source
	\|-		\|-
	\|yelllowsin		\|yelllowsin
Line 96:		Line 99:
	\|1.04		\|1.04
	\|<nowiki>https://bitcointalk.org/index.php?topic=160150.msg1882168#msg1882168</nowiki>		\|<nowiki>https://bitcointalk.org/index.php?topic=160150.msg1882168#msg1882168</nowiki>
			\|-
			\|Total
			\|474.04
			\|
	\|}		\|}

			=== Victims of Mercado Bitcoin ===
			The only known victim of Mercado Bitcoin which was listed was ThiagoCMC, who was reported to have lost 2260.781192<ref name=":0" />.

	The total amount lost has been estimated at $101,000 USD.		The total amount lost has been estimated at $101,000 USD.

Line 115:		Line 126:

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

			A donation address set up by Leandro César received a reported 5075.181457 bitcoin<ref name=":0" />. There was suspicion that Leandro César was donating to this address himself<ref name=":0" />.

	== Ongoing Developments ==		== Ongoing Developments ==

Azoundria at 18:10, 27 February 2024

2024-02-27T18:10:45Z

← Older revision		Revision as of 12:10, 27 February 2024
Line 4:		Line 4:
	I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.		I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.

	This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87~~" /><ref name="bitcoinexchangeguide-218~~" />		This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" />

	== About Mercado ==		== About Mercado ==
	“Leandro César claimed there was a security breach on his exchange website Mercado Bitcoin.[35] As Bitcoin Rain's funds were stored there, investors in Bitcoin Rain as well as account holders on Mercado Bitcoin lost money. Some money was reportedly paid back, but the vast majority is still outstanding.”


	This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.		This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.
Line 44:		Line 45:
	!Description		!Description
	\|-		\|-
	\|March ~~1st~~, ~~2013 12:00:17 AM MST~~		\|March 10th, 2011
	\|~~Main Event~~		\|Bitcoin Rain Launch
	\|~~Expand this into a brief description~~ of ~~what happened and~~ the ~~impact~~. ~~If multiple lines are necessary~~, ~~add them here~~.		\|The reported launch of the Bitcoin Rain ponzi scheme<ref name="bitcointalklistold-20" />.
			\|-
			\|March 28th, 2013
			\|Bitcoin Rain Defaulted
			\|The ponzi scheme Bitcoin Rain defaults<ref name="bitcointalklistold-20" />. On the same day, Leandro César claimed there was a security breach on his exchange website<ref name="bitcointalklistold-20" />.
	\|-		\|-
	\|		\|
Line 52:		Line 57:
	\|		\|
	\|}		\|}

			== Technical Details ==

	== Total Amount Lost ==		== Total Amount Lost ==
			As Bitcoin Rain's funds were stored there, investors in Bitcoin Rain as well as account holders on Mercado Bitcoin lost money. Some money was reportedly paid back, but the vast majority is still outstanding.”

			The BitcoinTalk list has estimated the amount lost as 4,000 bitcoin<ref name="bitcointalklistold-20" />. A Google Docs lists some of the victims<ref>[https://docs.google.com/spreadsheets/d/1kFhHzq0ak2LyVw_9a_fQFgS_RW-K9_lx0mdw5JpTFZU/edit#gid=0 Bitcoin Rain - Google Sheets] (Accessed Feb 27, 2024)</ref>.
			{\| class="wikitable"
			\|BitcoinTalk User
			\|Scammed XBT
			\|Source
			\|-
			\|yelllowsin
			\|180
			\|<nowiki>https://bitcointalk.org/index.php?topic=160150.msg1697855#msg1697855</nowiki>
			\|-
			\|Kaioflores
			\|100
			\|Trust Ratings
			\|-
			\|TradeFortress
			\|70
			\|Trust Ratings
			\|-
			\|rudrigorc2
			\|60
			\|Trust Ratings
			\|-
			\|andrehorta
			\|43
			\|<nowiki>https://bitcointalk.org/index.php?topic=179992.msg1884659#msg1884659</nowiki>
			\|-
			\|jajajuta
			\|20
			\|<nowiki>https://bitcointalk.org/index.php?topic=327848.msg3529629#msg3529629</nowiki>
			\|-
			\|Pimbox
			\|1.04
			\|<nowiki>https://bitcointalk.org/index.php?topic=160150.msg1882168#msg1882168</nowiki>
			\|}
	The total amount lost has been estimated at $101,000 USD.		The total amount lost has been estimated at $101,000 USD.

Line 60:		Line 103:
	== Immediate Reactions ==		== Immediate Reactions ==
	How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?		How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

			“Leandro César claimed there was a security breach on his exchange website Mercado Bitcoin.

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

			The incident was featured on multiple BitcoinTalk lists<ref name="bitcointalklistold-20" /><ref name="bitcointalklist-87" />, the list put together by Kyle Gibson<ref name="kylegibson-86" />, and in the Bitcoin Exchange Guide list<ref name="bitcoinexchangeguide-218" />.

	== Total Amount Recovered ==		== Total Amount Recovered ==
Line 89:		Line 136:

	== References ==		== References ==
	<references><ref name="bitcointalklistold-20">[https://bitcointalk.org/index.php?topic=83794.msg923918#post_toc_27 <nowiki>List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old]</nowiki>] (Jan 28, 2020)</ref>		<references>
			<ref name="bitcointalklistold-20">[https://bitcointalk.org/index.php?topic=83794.msg923918#post_toc_27 <nowiki>List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses [Old] - BitcoinTalk</nowiki>] (Jan 28, 2020)</ref>
	<ref name="kylegibson-86">[https://medium.com/@kylegibson/100-crypto-thefts-a-timeline-of-hacks-glitches-exit-scams-and-other-lost-cryptocurrency-873c87fd5522 100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents] (Jan 25, 2020)</ref>		<ref name="kylegibson-86">[https://medium.com/@kylegibson/100-crypto-thefts-a-timeline-of-hacks-glitches-exit-scams-and-other-lost-cryptocurrency-873c87fd5522 100 Crypto Thefts: A Timeline of Hacks, Glitches, Exit Scams, and other Lost Cryptocurrency Incidents - Kyle Gibson] (Jan 25, 2020)</ref>
			<ref name="bitcointalklist-87">[https://bitcointalk.org/index.php?topic=576337 List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses - BitcoinTalk] (Feb 15, 2020)</ref>
	<ref name="bitcointalklist-87">[https://bitcointalk.org/index.php?topic=576337 List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses] (Feb 15, 2020)</ref>		<ref name="bitcoinexchangeguide-218">[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 5, 2020)</ref>
			</references>
	<ref name="bitcoinexchangeguide-218">[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 5, 2020)</ref></references>

Azoundria at 23:52, 12 April 2023

2023-04-12T23:52:28Z

← Older revision		Revision as of 17:52, 12 April 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/mercadobitcoin.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/mercadobitcoin.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.		I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.

	This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.		This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="bitcoinexchangeguide-218" />
	<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="bitcoinexchangeguide-218" />

	== About Mercado ==		== About Mercado ==
Line 45:		Line 44:
	!Description		!Description
	\|-		\|-
	\|March 1st, 2013 12:00:17 AM		\|March 1st, 2013 12:00:17 AM MST
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
Line 72:		Line 71:
	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== General Prevention Policies ==
			Coming soon.
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

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

			{{Prevention:Platforms:End}}

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

			{{Prevention:Regulators:End}}

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

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

Azoundria at 20:53, 15 February 2023

2023-02-15T20:53:36Z

← Older revision		Revision as of 14:53, 15 February 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/mercadobitcoin.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/mercadobitcoin.php}}
			{{Unattributed Citations}}

	I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.		I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.

	This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.		This exchange or platform is based in Germany, or the incident targeted people primarily in Germany.
			<ref name="bitcointalklistold-20" /><ref name="kylegibson-86" /><ref name="bitcointalklist-87" /><ref name="bitcoinexchangeguide-218" />

	== About Mercado ==		== About Mercado ==
Line 23:		Line 25:

	Don't Include:		Don't Include:

	* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.		* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
	* Anything that wasn't reasonably knowable at the time of the event.		* Anything that wasn't reasonably knowable at the time of the event.
Line 45:		Line 46:
	\|-		\|-
	\|March 1st, 2013 12:00:17 AM		\|March 1st, 2013 12:00:17 AM
	\|~~First~~ Event		\|Main Event
	\|~~This is an expanded~~ description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
Line 58:		Line 55:

	== Total Amount Lost ==		== Total Amount Lost ==
	$101 000 USD		The total amount lost has been estimated at $101,000 USD.

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

Line 68:		Line 66:

	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~$0 USD~~		There do not appear to have been any funds recovered in this case.

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

Line 78:		Line 77:

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

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

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

	[https://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></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/mercadobitcoin.php}} I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet. This exchange or platform is based in Germany, or the incident targeted people primarily in Germany. == About Mercado == “Leandr..."

2023-01-21T06:20:35Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/mercadobitcoin.php}} I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet. This exchange or platform is based in Germany, or the incident targeted people primarily in Germany. == About Mercado == “Leandr..."

New page

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

I could go into more detail of allegations; however let’s just say the Mercado Bitcoin exchange was long suspected to not be fully backed to begin with, and was of course not stored properly with any sort of multi-signature cold storage wallet.

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

== About Mercado ==
“Leandro César claimed there was a security breach on his exchange website Mercado Bitcoin.[35] As Bitcoin Rain's funds were stored there, investors in Bitcoin Rain as well as account holders on Mercado Bitcoin lost money. Some money was reportedly paid back, but the vast majority is still outstanding.”

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

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

Include:

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

Don't Include:

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

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

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

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - Mercado Bitcoin
!Date
!Event
!Description
|-
|March 1st, 2013 12:00:17 AM
|First Event
|This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|-
|
|
|
|}

== Total Amount Lost ==
$101 000 USD
How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

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

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

== Total Amount Recovered ==
$0 USD
What funds were recovered? What funds were reimbursed for those affected users?

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

== Prevention Policies ==
Coming soon.

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

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

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

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