(2017)
BitMarket
Year
2017
Network
Bitcoin
Country
Founder
Incident Name
BitMarket
Effect
Financial Loss: The reference states 600 Bitcoins were stolen. The value at the time was roughly $460,000 USD (as of April 16, 2024, this would be approximately $22.3 million USD). Exchange Shutdown: The reference suggests the hack might have been a contributing factor in BitMarket's shutdown.
Outcome
Type
Insider Theft (Employee Misappropriation)
Money Impact
600 Bitcoins were stolen. The value at the time was roughly $460,000 USD
Causes
security lapse due to an insider's access to potentially unguarded or poorly secured company funds.
Affected user/account
Recovery Efforts
Regulatory Response
Market Impact
600 Bitcoins were stolen. The value at the time was roughly $460,000 USD
Technological Details
Investigation Details
Insurance Coverage
Public Relations Response
Lesson Learned
Ownership Transfer TX
Incident Review
Finding insights from cybersecurity experts or law enforcement specifically on the BitMarket hack might be difficult due to the limited information and the passage of time. However, broader industry reports on exchange security best practices and the evolution of regulations can offer valuable context.
Links
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Concerning
Other
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