Taylor Ethereum Hack - Revision history

Azoundria at 16:36, 14 April 2023

2023-04-14T16:36:34Z

← Older revision		Revision as of 10:36, 14 April 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/taylorethereumhack.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/taylorethereumhack.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	It appears to be a simple case of Ethereum stored insecurely, and breached by a hacker. The application appears to have launched successfully, with the company issuing a new token to replace the old one. Final words from the founder - "This episode will make us stronger." The project appears to still be running at this time.		It appears to be a simple case of Ethereum stored insecurely, and breached by a hacker. The application appears to have launched successfully, with the company issuing a new token to replace the old one. Final words from the founder - "This episode will make us stronger." The project appears to still be running at this time.

	This exchange or platform is based in Brazil, or the incident targeted people primarily in Brazil.		This exchange or platform is based in Brazil, or the incident targeted people primarily in Brazil.<ref name="smarttaylormedium-60" /><ref name="ccn-61" /><ref name="zdnet-66" /><ref name="smarttaylormedium-67" /><ref name="kylegibson-86" /><ref name="ciphertrace-90" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" />
	<ref name="smarttaylormedium-60" /><ref name="ccn-61" /><ref name="zdnet-66" /><ref name="smarttaylormedium-67" /><ref name="kylegibson-86" /><ref name="ciphertrace-90" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" />

	== About Taylor ==		== About Taylor ==
Line 45:		Line 44:
	!Description		!Description
	\|-		\|-
	\|May 1st, 2018 12:01:00 AM		\|May 1st, 2018 12:01:00 AM MDT
	\|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="smarttaylormedium-60">[https://medium.com/smarttaylor/taylor-phoenix-rising-from-the-ashes-743bab57545e Taylor Phoenix: Rising from the ashes] (Feb 6, 2020)</ref>		<references><ref name="smarttaylormedium-60">[https://medium.com/smarttaylor/taylor-phoenix-rising-from-the-ashes-743bab57545e Taylor Phoenix: Rising from the ashes] (Feb 7, 2020)</ref>

	<ref name="ccn-61">[https://www.ccn.com/1-5-million-cryptocurrency-trading-platform-taylor-suffers-2500-eth-hack/ $1.5 Million: Crypto Trading Platform Taylor Suffers 2,500 ETH Hack] (Feb 6, 2020)</ref>		<ref name="ccn-61">[https://www.ccn.com/1-5-million-cryptocurrency-trading-platform-taylor-suffers-2500-eth-hack/ $1.5 Million: Crypto Trading Platform Taylor Suffers 2,500 ETH Hack] (Feb 7, 2020)</ref>

	<ref name="zdnet-66">[https://www.zdnet.com/article/all-of-cryptocurrency-trading-app-taylors-funds-have-been-stolen/ Cryptocurrency trading app Taylor says all funds have been stolen in cyberattack \| ZDNet] (Feb 7, 2020)</ref>		<ref name="zdnet-66">[https://www.zdnet.com/article/all-of-cryptocurrency-trading-app-taylors-funds-have-been-stolen/ Cryptocurrency trading app Taylor says all funds have been stolen in cyberattack \| ZDNet] (Feb 8, 2020)</ref>

	<ref name="smarttaylormedium-67">[https://medium.com/smarttaylor/an-open-letter-on-taylors-current-situation-49c8f25f0ce1 An open letter on Taylor’s current situation] (Feb 7, 2020)</ref>		<ref name="smarttaylormedium-67">[https://medium.com/smarttaylor/an-open-letter-on-taylors-current-situation-49c8f25f0ce1 An open letter on Taylor’s current situation] (Feb 8, 2020)</ref>

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

	<ref name="ciphertrace-90">[https://ciphertrace.com/q3-2018-cryptocurrency-anti-money-laundering-report/ Q3 2018 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (Feb 14, 2020)</ref>		<ref name="ciphertrace-90">[https://ciphertrace.com/q3-2018-cryptocurrency-anti-money-laundering-report/ Q3 2018 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (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>		<ref name="bitcoinexchangeguide-218">[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 5, 2020)</ref>

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

Azoundria at 05:51, 17 February 2023

2023-02-17T05:51:55Z

← Older revision		Revision as of 23:51, 16 February 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/taylorethereumhack.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/taylorethereumhack.php}}
			{{Unattributed Citations}}

	It appears to be a simple case of Ethereum stored insecurely, and breached by a hacker. The application appears to have launched successfully, with the company issuing a new token to replace the old one. Final words from the founder - "This episode will make us stronger." The project appears to still be running at this time.		It appears to be a simple case of Ethereum stored insecurely, and breached by a hacker. The application appears to have launched successfully, with the company issuing a new token to replace the old one. Final words from the founder - "This episode will make us stronger." The project appears to still be running at this time.

	This exchange or platform is based in Brazil, or the incident targeted people primarily in Brazil.		This exchange or platform is based in Brazil, or the incident targeted people primarily in Brazil.
			<ref name="smarttaylormedium-60" /><ref name="ccn-61" /><ref name="zdnet-66" /><ref name="smarttaylormedium-67" /><ref name="kylegibson-86" /><ref name="ciphertrace-90" /><ref name="bitcoinexchangeguide-218" /><ref name="slowmisthacked-1160" />

	== About Taylor ==		== About Taylor ==
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:
	\|-		\|-
	\|May 1st, 2018 12:01:00 AM		\|May 1st, 2018 12:01:00 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.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
Line 58:		Line 55:

	== Total Amount Lost ==		== Total Amount Lost ==
	The total amount lost ~~is unknown~~.		The total amount lost has been estimated at $1,500,000 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 69:		Line 66:

	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~It is unknown how much was~~ recovered.		There do not appear to have been any funds recovered in this case.

	What funds were recovered? What funds were reimbursed for those affected users?		What funds were recovered? What funds were reimbursed for those affected users?
Line 80:		Line 77:

	== References ==		== References ==
	[https://medium.com/smarttaylor/taylor-phoenix-rising-from-the-ashes-743bab57545e Taylor Phoenix: Rising from the ashes] (Feb 6)		<references><ref name="smarttaylormedium-60">[https://medium.com/smarttaylor/taylor-phoenix-rising-from-the-ashes-743bab57545e Taylor Phoenix: Rising from the ashes] (Feb 6, 2020)</ref>

	[https://www.ccn.com/1-5-million-cryptocurrency-trading-platform-taylor-suffers-2500-eth-hack/ $1.5 Million: Crypto Trading Platform Taylor Suffers 2,500 ETH Hack] (Feb 6)		<ref name="ccn-61">[https://www.ccn.com/1-5-million-cryptocurrency-trading-platform-taylor-suffers-2500-eth-hack/ $1.5 Million: Crypto Trading Platform Taylor Suffers 2,500 ETH Hack] (Feb 6, 2020)</ref>

	[https://www.zdnet.com/article/all-of-cryptocurrency-trading-app-taylors-funds-have-been-stolen/ Cryptocurrency trading app Taylor says all funds have been stolen in cyberattack \| ZDNet] (Feb 7)		<ref name="zdnet-66">[https://www.zdnet.com/article/all-of-cryptocurrency-trading-app-taylors-funds-have-been-stolen/ Cryptocurrency trading app Taylor says all funds have been stolen in cyberattack \| ZDNet] (Feb 7, 2020)</ref>

	[https://medium.com/smarttaylor/an-open-letter-on-taylors-current-situation-49c8f25f0ce1 An open letter on Taylor’s current situation] (Feb 7)		<ref name="smarttaylormedium-67">[https://medium.com/smarttaylor/an-open-letter-on-taylors-current-situation-49c8f25f0ce1 An open letter on Taylor’s current situation] (Feb 7, 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://ciphertrace.com/q3-2018-cryptocurrency-anti-money-laundering-report/ Q3 2018 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (Feb 14)		<ref name="ciphertrace-90">[https://ciphertrace.com/q3-2018-cryptocurrency-anti-money-laundering-report/ Q3 2018 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (Feb 14, 2020)</ref>

	[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 4)		<ref name="bitcoinexchangeguide-218">[https://bitcoinexchangeguide.com/bitcoin/scams-hacks/ Bitcoin Scams and Cryptocurrency Hacks List - BitcoinExchangeGuide.com] (Mar 5, 2020)</ref>

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

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/taylorethereumhack.php}} It appears to be a simple case of Ethereum stored insecurely, and breached by a hacker. The application appears to have launched successfully, with the company issuing a new token to replace the old one. Final words from the founder - "This episode will make us stronger." The project appears to still be running at this time. This exchange or platform is based in Brazil, o..."

2023-01-24T21:19:08Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/taylorethereumhack.php}} It appears to be a simple case of Ethereum stored insecurely, and breached by a hacker. The application appears to have launched successfully, with the company issuing a new token to replace the old one. Final words from the founder - "This episode will make us stronger." The project appears to still be running at this time. This exchange or platform is based in Brazil, o..."

New page

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

It appears to be a simple case of Ethereum stored insecurely, and breached by a hacker. The application appears to have launched successfully, with the company issuing a new token to replace the old one. Final words from the founder - "This episode will make us stronger." The project appears to still be running at this time.

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

== About Taylor ==
“The makers of a cryptocurrency trading app called Taylor were raided by hackers to the tune of $1.5 million worth of ETH. The incident occurred shortly after Taylor’s ICO began. Hackers made away with all of the funds that the group had raised. Following the heist, the thieves tried to sell the TAY tokens they had stolen on IDEX. To prevent the thieves from cashing out, Taylor’s developers asked IDEX to temporarily delist TAY.”

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

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 - Taylor Ethereum Hack
!Date
!Event
!Description
|-
|May 1st, 2018 12:01:00 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 ==
Coming soon.

== References ==
[https://medium.com/smarttaylor/taylor-phoenix-rising-from-the-ashes-743bab57545e Taylor Phoenix: Rising from the ashes] (Feb 6)

[https://www.ccn.com/1-5-million-cryptocurrency-trading-platform-taylor-suffers-2500-eth-hack/ $1.5 Million: Crypto Trading Platform Taylor Suffers 2,500 ETH Hack] (Feb 6)

[https://www.zdnet.com/article/all-of-cryptocurrency-trading-app-taylors-funds-have-been-stolen/ Cryptocurrency trading app Taylor says all funds have been stolen in cyberattack | ZDNet] (Feb 7)

[https://medium.com/smarttaylor/an-open-letter-on-taylors-current-situation-49c8f25f0ce1 An open letter on Taylor’s current situation] (Feb 7)

[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://ciphertrace.com/q3-2018-cryptocurrency-anti-money-laundering-report/ Q3 2018 Cryptocurrency Anti-Money Laundering Report - CipherTrace] (Feb 14)

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

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