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ID:

kronos-io-830

Date:

Status:

Incident Count:

August 16, 2012

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

43,000

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Recovered:

-

Rewards:

Currency:

USD, BTC

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Bitcoin

Exchange

Assets

Front-end Vulnerabilities

Extended Method:

Front end vulnerabilities, backdoor

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Days in Operation:

0

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Kronos.io, a Bitcoinica-esque startup, was hacked in an event shrouded in mystery. Led by Jonathon Ryan Owens, who was simultaneously running other new startups on GLBSE (an upstart Bitcoin “stock exchange”), Kronos.io hired several well-known Bitcoin personalities to do work with HTML and coding. One of these was Alberto Armandi, who was related to Bitscalper, a scam earlier that year.[36] Alberto Armandi reportedly hacked into the website he himself helped code. The vulnerability was in the withdrawal script that Alberto coded, reportedly intentionally as a backdoor.[36] Although incredible, Armandi has also released a story denying he hacked the website. Instead, he blamed the theft on Jonathon Ryan Owens intentionally pocketing the majority of the funds with only 1000 BTC being stolen by an unknown hacker.

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