MyBitcoin Username/Password Breach: Difference between revisions

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New cases added need to comply with the [[Criteria for Case Inclusion]]. Case studies generally comprise of the following primary sections:
A file containing usernames and passwords from the large Mt. Gox cryptocurrency exchange was accessed, and this allowed multiple breaches to occur of around 1% of the users on the ''MyBitcoins'' exchange.


== Overview ==
Ultimately, MyBitcoins sought to cover the losses for users.
A high level overview of all the most relevant facts and information in the case.


== About [Service] ==
== About MyBitcoins ==
The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.
More information needs to be added.
 
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.


== The Reality ==
== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:
More information needs to be added.
 
* 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 ==
== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss.
The specific events of the loss and how it came about. What actually happened to cause the loss.
== Key Event Timeline ==


== Total Amount Lost ==
== Total Amount Lost ==
How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
The loss was estimated at the time to be 4,019 BTC (or


== 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?
The pseudonymous operator of MyBitcoin acknowledged at the time:<blockquote>“We’ve concluded that around 1% of the users on the leaked Mt[G]ox password file had their Bitcoins stolen on MyBitcoin.”</blockquote>


== 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?
Affected users were reimbursed the total value of their losses on the MyBitcoin platform. Those who withdrew from the platform could have kept them after the platform ultimately collapsed.


== Total Amount Recovered ==
== Total Amount Recovered ==
What funds were recovered? What funds were reimbursed for those affected users?
All 4,019 BTC (worth $72k USD) were ultimately reimbursed to users.


== Ongoing Developments ==
== Ongoing Developments ==
What parts of this case are still remaining to be concluded?
None.


== References ==
== References ==
A section with the references where information came from.
A section with the references where information came from.

Revision as of 09:17, 14 January 2023

A file containing usernames and passwords from the large Mt. Gox cryptocurrency exchange was accessed, and this allowed multiple breaches to occur of around 1% of the users on the MyBitcoins exchange.

Ultimately, MyBitcoins sought to cover the losses for users.

About MyBitcoins

More information needs to be added.

The Reality

More information needs to be added.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss.

Key Event Timeline

Total Amount Lost

The loss was estimated at the time to be 4,019 BTC (or

Immediate Reactions

The pseudonymous operator of MyBitcoin acknowledged at the time:

“We’ve concluded that around 1% of the users on the leaked Mt[G]ox password file had their Bitcoins stolen on MyBitcoin.”

Ultimate Outcome

Affected users were reimbursed the total value of their losses on the MyBitcoin platform. Those who withdrew from the platform could have kept them after the platform ultimately collapsed.

Total Amount Recovered

All 4,019 BTC (worth $72k USD) were ultimately reimbursed to users.

Ongoing Developments

None.

References

A section with the references where information came from.

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