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ID:

mt-gox-842

Date:

Status:

Incident Count:

June 19, 2011

Verified

4

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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:

42,400

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Recovered:

-

Rewards:

Currency:

USD, BTC

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Bitcoin

Exchange

Assets

Compromised Access Control

Extended Method:

Hacked credentials

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Days in Operation:

1317

(3.61 Years)

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The auditor was hired to verify that Mt. Gox had sufficient bitcoin and cash reserves to cover its holdings, but the hacker was able to use the auditor’s computer to steal bitcoins from the exchange. The hacker used the auditor’s access to sell bitcoins to his or her own wallet, causing the price of bitcoin on the exchange to plummet. The hacker acquired an estimated 2,000 BTC through this strategy, with an additional 650 BTC purchased by other Mt. Gox users at deflated prices.

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