CoinSpot Account Hacked borgy63
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On November 8, 2021, a reddit user named borgy63 reported that their CoinSpot account had been hacked, resulting in the theft of over $1239 worth of assets. They shared the address where the stolen funds were sent and sought assistance in tracing it. Some users sympathized with borgy63, acknowledging that scams and hacks are unfortunately common in the cryptocurrency space. They expressed frustration with exchanges' inability to trace disputed transactions and the overall security flaws in the crypto industry. Suggestions were made to improve security measures, such as implementing a 24-hour block on transfers or utilizing cold storage. The conversation also touched upon the differences between crypto and traditional banking, with some users expressing a desire for safer storage options. The discussion concluded with borgy63 expressing gratitude for the helpful advice and wishing others success in their crypto endeavors.
This exchange or platform is based in Australia, or the incident targeted people primarily in Australia.[1][2][3]
About CoinSpot
My CoinSpot Account Was Hacked on Monday November 8th 2021
This is the address where over $1239 of my assets were stolen, this is the address the thief sent it to , If anyone can assist please do. If you are another useless fool keep away. Unfortunately Crytpto is on shaky grounds if this person cannot be traced. That address does not appear on Etherscan explorer,does anyone know how to trace it?"
This exchange or platform is based in Australia, or the incident targeted people primarily in Australia.
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.
| Date | Event | Description |
|---|---|---|
| November 8th, 2021 | Account Hacked | The account is reportedly hacked. |
| November 19th, 2021 8:58:58 PM MST | Reddit Post | Event posted to Reddit. |
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
Looks like a PolkaDot address.
14DWZsL1DZJVRKwm7DPMReFYdVYm69vmQNGbuHR7DAguhvau
The total amount lost has been estimated at $2,000 USD.
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
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?
Ongoing Developments
What parts of this case are still remaining to be concluded?
Individual Prevention Policies
No specific policies for individual prevention have yet been identified in this case.
For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.
Platform Prevention Policies
Policies for platforms to take to prevent this situation have not yet been selected in this case.
For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.
Regulatory Prevention Policies
No specific regulatory policies have yet been identified in this case.
For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.