Mercatox EOS Breach - Revision history

Azoundria at 19:00, 1 May 2023

2023-05-01T19:00:16Z

← Older revision		Revision as of 13:00, 1 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/mercatoxeosbreach.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/mercatoxeosbreach.php}}
	{{Unattributed Sources}}		{{Unattributed Sources}}

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	No other sources can back up this hack. There were some minor hacks in 2018 as well, that did not report the loss of any funds.		No other sources can back up this hack. There were some minor hacks in 2018 as well, that did not report the loss of any funds.

	This exchange or platform is based in United Kingdom, or the incident targeted people primarily in United Kingdom.		This exchange or platform is based in United Kingdom, or the incident targeted people primarily in United Kingdom.<ref name="slowmisthacked-1160" /><ref name="mercatoxarchive-2278" /><ref name="mercatoxarchive-2279" /><ref name="bitcoinwiki-2280" /><ref name="cryptogeek-2281" /><ref name="nomics-2282" /><ref name="thecurrencyanalytics-2283" /><ref name="blocking-2284" /><ref name="cointelligence-2285" /><ref name="mercatoxinfotwitter-7988" /><ref name="cryptoxdirectory-7989" /><ref name="facebook-7992" />
	<ref name="slowmisthacked-1160" /><ref name="mercatoxarchive-2278" /><ref name="mercatoxarchive-2279" /><ref name="bitcoinwiki-2280" /><ref name="cryptogeek-2281" /><ref name="nomics-2282" /><ref name="thecurrencyanalytics-2283" /><ref name="blocking-2284" /><ref name="cointelligence-2285" /><ref name="mercatoxinfotwitter-7988" /><ref name="cryptoxdirectory-7989" /><ref name="facebook-7992" />

	== About Mercatox ==		== About Mercatox ==
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	!Description		!Description
	\|-		\|-
	\|March 15th, 2019 ~~12:00:00 AM~~		\|March 15th, 2019
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
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	\|		\|
	\|}		\|}

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

	== Total Amount Lost ==		== Total Amount Lost ==
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	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== General Prevention Policies ==
			The EOS funds should have been properly secured with offline storage and a multi-signature wallet for the majority of funds.
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

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

			{{Prevention:Platforms:End}}

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

	== Prevention ~~Policies ==~~		{{Prevention:Regulators:End}}
	~~The EOS funds should have been properly secured with offline storage and a multi-signature wallet for the majority of funds.~~

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

	<ref name="mercatoxarchive-2278">[https://web.archive.org/web/20210119210030/https://mercatox.com/ MERCATOX Digital And Crypto-Currencies Exchange \| Payment Service \| Peer-To-Peer Currency Exchange] (Aug 7, 2021)</ref>		<ref name="mercatoxarchive-2278">[https://web.archive.org/web/20210119210030/https://mercatox.com/ MERCATOX Digital And Crypto-Currencies Exchange \| Payment Service \| Peer-To-Peer Currency Exchange] (Aug 8, 2021)</ref>

	<ref name="mercatoxarchive-2279">[https://web.archive.org/web/20210118035947/https://mercatox.com/about/ MERCATOX - YOUR RELIABLE PARTNER IN THE WORLD OF DIGITAL FINANCES] (Aug 7, 2021)</ref>		<ref name="mercatoxarchive-2279">[https://web.archive.org/web/20210118035947/https://mercatox.com/about/ MERCATOX - YOUR RELIABLE PARTNER IN THE WORLD OF DIGITAL FINANCES] (Aug 8, 2021)</ref>

	<ref name="bitcoinwiki-2280">[https://en.bitcoinwiki.org/wiki/Mercatox Mercatox - BitcoinWiki] (Aug 7, 2021)</ref>		<ref name="bitcoinwiki-2280">[https://en.bitcoinwiki.org/wiki/Mercatox Mercatox - BitcoinWiki] (Aug 8, 2021)</ref>

	<ref name="cryptogeek-2281">[https://cryptogeek.info/en/exchanges/mercatox Mercatox Exchange Review 2022 - Is It Safe? \| Cryptogeek] (Aug 7, 2021)</ref>		<ref name="cryptogeek-2281">[https://cryptogeek.info/en/exchanges/mercatox Mercatox Exchange Review 2022 - Is It Safe? \| Cryptogeek] (Aug 8, 2021)</ref>

	<ref name="nomics-2282">[https://nomics.com/exchanges/mercatox Mercatox Crypto Exchange - Volume, Market Prices & Listings, Trading Pairs \| Nomics] (Aug 7, 2021)</ref>		<ref name="nomics-2282">[https://nomics.com/exchanges/mercatox Mercatox Crypto Exchange - Volume, Market Prices & Listings, Trading Pairs \| Nomics] (Aug 8, 2021)</ref>

	<ref name="thecurrencyanalytics-2283">[https://thecurrencyanalytics.com/press-releases/crypto-world-gets-a-unique-universal-multi-language-cryptocurrency-exchange-with-mercatox-5412.php Crypto world gets a unique universal Multi-language cryptocurrency exchange with Mercatox] (Aug 7, 2021)</ref>		<ref name="thecurrencyanalytics-2283">[https://thecurrencyanalytics.com/press-releases/crypto-world-gets-a-unique-universal-multi-language-cryptocurrency-exchange-with-mercatox-5412.php Crypto world gets a unique universal Multi-language cryptocurrency exchange with Mercatox] (Aug 8, 2021)</ref>

	<ref name="blocking-2284">[https://blocking.net/36755/exchange-rollover-records-a-article-seeing-64-rollover-accidents-since-2018/ Exchange Rollover Records: A Article Seeing 64 Rollover Accidents Since 2018 Blockchain Network] (Aug 7, 2021)</ref>		<ref name="blocking-2284">[https://blocking.net/36755/exchange-rollover-records-a-article-seeing-64-rollover-accidents-since-2018/ Exchange Rollover Records: A Article Seeing 64 Rollover Accidents Since 2018 Blockchain Network] (Aug 8, 2021)</ref>

	<ref name="cointelligence-2285">[https://www.cointelligence.com/exchanges_list/mercatox/ Mercatox Review and Analysis: Is it safe or a scam? We've checked and verified!] (Aug 7, 2021)</ref>		<ref name="cointelligence-2285">[https://www.cointelligence.com/exchanges_list/mercatox/ Mercatox Review and Analysis: Is it safe or a scam? We've checked and verified!] (Aug 8, 2021)</ref>

	<ref name="mercatoxinfotwitter-7988">[https://twitter.com/Mercatox_Info/status/997766914926575616 @Mercatox_Info Twitter] (Jun 8, 2022)</ref>		<ref name="mercatoxinfotwitter-7988">[https://twitter.com/Mercatox_Info/status/997766914926575616 @Mercatox_Info Twitter] (Jun 8, 2022)</ref>

Azoundria at 06:00, 21 February 2023

2023-02-21T06:00:04Z

← Older revision		Revision as of 00:00, 21 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/mercatoxeosbreach.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/mercatoxeosbreach.php}}
			{{Unattributed Sources}}

	[[File:Mercatox.jpg\|thumb\|Mercatox]]According to SlowMist, there was a breach of the Mercatox platform in March 2019, and thousands of EOS were stolen.		[[File:Mercatox.jpg\|thumb\|Mercatox]]According to SlowMist, there was a breach of the Mercatox platform in March 2019, and thousands of EOS were stolen.
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	This exchange or platform is based in United Kingdom, or the incident targeted people primarily in United Kingdom.		This exchange or platform is based in United Kingdom, or the incident targeted people primarily in United Kingdom.
			<ref name="slowmisthacked-1160" /><ref name="mercatoxarchive-2278" /><ref name="mercatoxarchive-2279" /><ref name="bitcoinwiki-2280" /><ref name="cryptogeek-2281" /><ref name="nomics-2282" /><ref name="thecurrencyanalytics-2283" /><ref name="blocking-2284" /><ref name="cointelligence-2285" /><ref name="mercatoxinfotwitter-7988" /><ref name="cryptoxdirectory-7989" /><ref name="facebook-7992" />

	== About Mercatox ==		== About Mercatox ==
Line 39:		Line 41:

	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.
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	\|-		\|-
	\|March 15th, 2019 12:00:00 AM		\|March 15th, 2019 12:00:00 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.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
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	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~It is unknown how much was~~ recovered.		There do not appear to have been any funds recovered in this case.

	What funds were recovered? What funds were reimbursed for those affected users?		What funds were recovered? What funds were reimbursed for those affected users?
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	== References ==		== References ==
	[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25)		<references><ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25, 2021)</ref>

	[https://web.archive.org/web/20210119210030/https://mercatox.com/ MERCATOX Digital And Crypto-Currencies Exchange \| Payment Service \| Peer-To-Peer Currency Exchange] (Aug 7)		<ref name="mercatoxarchive-2278">[https://web.archive.org/web/20210119210030/https://mercatox.com/ MERCATOX Digital And Crypto-Currencies Exchange \| Payment Service \| Peer-To-Peer Currency Exchange] (Aug 7, 2021)</ref>

	[https://web.archive.org/web/20210118035947/https://mercatox.com/about/ MERCATOX - YOUR RELIABLE PARTNER IN THE WORLD OF DIGITAL FINANCES] (Aug 7)		<ref name="mercatoxarchive-2279">[https://web.archive.org/web/20210118035947/https://mercatox.com/about/ MERCATOX - YOUR RELIABLE PARTNER IN THE WORLD OF DIGITAL FINANCES] (Aug 7, 2021)</ref>

	[https://en.bitcoinwiki.org/wiki/Mercatox Mercatox - BitcoinWiki] (Aug 7)		<ref name="bitcoinwiki-2280">[https://en.bitcoinwiki.org/wiki/Mercatox Mercatox - BitcoinWiki] (Aug 7, 2021)</ref>

	[https://cryptogeek.info/en/exchanges/mercatox Mercatox Exchange Review 2022 - Is It Safe? \| Cryptogeek] (Aug 7)		<ref name="cryptogeek-2281">[https://cryptogeek.info/en/exchanges/mercatox Mercatox Exchange Review 2022 - Is It Safe? \| Cryptogeek] (Aug 7, 2021)</ref>

	[https://nomics.com/exchanges/mercatox Mercatox Crypto Exchange - Volume, Market Prices & Listings, Trading Pairs \| Nomics] (Aug 7)		<ref name="nomics-2282">[https://nomics.com/exchanges/mercatox Mercatox Crypto Exchange - Volume, Market Prices & Listings, Trading Pairs \| Nomics] (Aug 7, 2021)</ref>

	[https://thecurrencyanalytics.com/press-releases/crypto-world-gets-a-unique-universal-multi-language-cryptocurrency-exchange-with-mercatox-5412.php Crypto world gets a unique universal Multi-language cryptocurrency exchange with Mercatox] (Aug 7)		<ref name="thecurrencyanalytics-2283">[https://thecurrencyanalytics.com/press-releases/crypto-world-gets-a-unique-universal-multi-language-cryptocurrency-exchange-with-mercatox-5412.php Crypto world gets a unique universal Multi-language cryptocurrency exchange with Mercatox] (Aug 7, 2021)</ref>

	[https://blocking.net/36755/exchange-rollover-records-a-article-seeing-64-rollover-accidents-since-2018/ Exchange Rollover Records: A Article Seeing 64 Rollover Accidents Since 2018 Blockchain Network] (Aug 7)		<ref name="blocking-2284">[https://blocking.net/36755/exchange-rollover-records-a-article-seeing-64-rollover-accidents-since-2018/ Exchange Rollover Records: A Article Seeing 64 Rollover Accidents Since 2018 Blockchain Network] (Aug 7, 2021)</ref>

	[https://www.cointelligence.com/exchanges_list/mercatox/ Mercatox Review and Analysis: Is it safe or a scam? We've checked and verified!] (Aug 7)		<ref name="cointelligence-2285">[https://www.cointelligence.com/exchanges_list/mercatox/ Mercatox Review and Analysis: Is it safe or a scam? We've checked and verified!] (Aug 7, 2021)</ref>

	[https://twitter.com/Mercatox_Info/status/997766914926575616 @Mercatox_Info Twitter] (Jun 8)		<ref name="mercatoxinfotwitter-7988">[https://twitter.com/Mercatox_Info/status/997766914926575616 @Mercatox_Info Twitter] (Jun 8, 2022)</ref>

	[https://cryptoxdirectory.com/mercatox The Exchange Directory] (Jun 8)		<ref name="cryptoxdirectory-7989">[https://cryptoxdirectory.com/mercatox The Exchange Directory] (Jun 8, 2022)</ref>

	[https://www.facebook.com/cryptbuzz/posts/mercatox-exchange-confirms-hack-says-users-protected-against-loss/1195625940584673/ https://www.facebook.com/cryptbuzz/posts/mercatox-exchange-confirms-hack-says-users-protected-against-loss/1195625940584673/] (Jun 8)		<ref name="facebook-7992">[https://www.facebook.com/cryptbuzz/posts/mercatox-exchange-confirms-hack-says-users-protected-against-loss/1195625940584673/ https://www.facebook.com/cryptbuzz/posts/mercatox-exchange-confirms-hack-says-users-protected-against-loss/1195625940584673/] (Jun 8, 2022)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/mercatoxeosbreach.php}} MercatoxAccording to SlowMist, there was a breach of the Mercatox platform in March 2019, and thousands of EOS were stolen. No other sources can back up this hack. There were some minor hacks in 2018 as well, that did not report the loss of any funds. This exchange or platform is based in United Kingdom, or the incident targeted people primaril..."

2023-01-25T02:56:03Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/mercatoxeosbreach.php}} thumb|MercatoxAccording to SlowMist, there was a breach of the Mercatox platform in March 2019, and thousands of EOS were stolen. No other sources can back up this hack. There were some minor hacks in 2018 as well, that did not report the loss of any funds. This exchange or platform is based in United Kingdom, or the incident targeted people primaril..."

New page

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

[[File:Mercatox.jpg|thumb|Mercatox]]According to SlowMist, there was a breach of the Mercatox platform in March 2019, and thousands of EOS were stolen.

No other sources can back up this hack. There were some minor hacks in 2018 as well, that did not report the loss of any funds.

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

== About Mercatox ==
"Mercatox is a centralized cryptocurrency exchange founded in October 2015. At the moment, it has over half a million active users. By some accounts, this exchange is one of the top 100 cryptocurrency exchanges by trading volume. Mercatox supports numerous cryptocurrencies (over 400 coins which means that some of the currencies can be barely found on other exchanges) and provides a convenient trading interface." "Mercatox ICO started on 2016-11-20."

Mercatox "is a Trading Platform for the user that want to trade cryptocurrency by using Bitcoin, Ethereum and Litecoin." "Mercatox is a service for accessing e-currency and cryptocurrency exchange markets. It is a peer-to-peer exchange of electronic currencies, where users can exchange any digital title signs- E-wallet with a wide range of payment instruments for personal and commercial use-convenient and advantageous platform for trade."

"Mercatox came as one of a big cryptocurrency exchange as the answer for the people who want to trade cryptocurrency. Being a modern service for accessing the cryptocurrency exchange market which can be used by all trader levels - Beginner to Professional." "We are always glad to provide a convenient experience for users to access Cryptocurrency Market on our exchange by giving the interesting interface, quick responding and best support."

"Mercatox with its 600,000+ users has been listed on Coinmarketcap as the one of top 100 exchange - per November 2019 and we hope we can further be developed with our various future development plans." "Mercatox is located in the United Kingdom. However, users from around the globe can access the exchange, including those based in the United States.""

"[O]n January 2, 2018, Mercatox posted the following on its Facebook page: “Due to a high overload of our system and attempts of DDoS attacks, we forced temporarily to suspend the website for upgrading our hardware and software. The service will be restored as soon as possible. All coins are SAFE! Sorry for the inconvenience.”"

"May 20, 2018 - Following a sudden ~15 hour maintenance due to 'hackers', Mercatox has reopened with sudden restrictions on trading and (most concerningly) fund withdrawals on some users, including myself. The community is advised to avoid the exchange until issues are resolved. Bitgrail exhibited a nearly identical pattern of behavior directly leading up to its insolvency. This is a very upsetting turn of events for me, but I hope that others can avoid the same problems as Mercatox is still taking new deposits."

"Hard_fail attack" "In March 2019, Mercatox Exchange was attacked, losing thousands of EOS;" "The attacker launched a hard_fail attack on the exchange and profited thousands of EOS."

"Mercatox exchange emphasizes on their website that the security of the customer has a high priority. However, unlike others, they do not specify which safety measures they use but advice their customers on how to keep their accounts safe."

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

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 - Mercatox EOS Breach
!Date
!Event
!Description
|-
|March 15th, 2019 12:00:00 AM
|First Event
|This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost is unknown.

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

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

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

== Total Amount Recovered ==
It is unknown how much was recovered.

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

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

== Prevention Policies ==
The EOS funds should have been properly secured with offline storage and a multi-signature wallet for the majority of funds.

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

[https://web.archive.org/web/20210119210030/https://mercatox.com/ MERCATOX Digital And Crypto-Currencies Exchange | Payment Service | Peer-To-Peer Currency Exchange] (Aug 7)

[https://web.archive.org/web/20210118035947/https://mercatox.com/about/ MERCATOX - YOUR RELIABLE PARTNER IN THE WORLD OF DIGITAL FINANCES] (Aug 7)

[https://en.bitcoinwiki.org/wiki/Mercatox Mercatox - BitcoinWiki] (Aug 7)

[https://cryptogeek.info/en/exchanges/mercatox Mercatox Exchange Review 2022 - Is It Safe? | Cryptogeek] (Aug 7)

[https://nomics.com/exchanges/mercatox Mercatox Crypto Exchange - Volume, Market Prices & Listings, Trading Pairs | Nomics] (Aug 7)

[https://thecurrencyanalytics.com/press-releases/crypto-world-gets-a-unique-universal-multi-language-cryptocurrency-exchange-with-mercatox-5412.php Crypto world gets a unique universal Multi-language cryptocurrency exchange with Mercatox] (Aug 7)

[https://blocking.net/36755/exchange-rollover-records-a-article-seeing-64-rollover-accidents-since-2018/ Exchange Rollover Records: A Article Seeing 64 Rollover Accidents Since 2018 Blockchain Network] (Aug 7)

[https://www.cointelligence.com/exchanges_list/mercatox/ Mercatox Review and Analysis: Is it safe or a scam? We've checked and verified!] (Aug 7)

[https://twitter.com/Mercatox_Info/status/997766914926575616 @Mercatox_Info Twitter] (Jun 8)

[https://cryptoxdirectory.com/mercatox The Exchange Directory] (Jun 8)

[https://www.facebook.com/cryptbuzz/posts/mercatox-exchange-confirms-hack-says-users-protected-against-loss/1195625940584673/ https://www.facebook.com/cryptbuzz/posts/mercatox-exchange-confirms-hack-says-users-protected-against-loss/1195625940584673/] (Jun 8)