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ID:

mybitcoin-exchange-843

Date:

Status:

Incident Count:

June 16, 2011

Verified

2

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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:

72,000

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Recovered:

-

Rewards:

Currency:

USD, BTC

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Bitcoin

Exchange

Assets

Compromised Access Control

Extended Method:

Security breach, user name and password

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Days in Operation:

0

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The pseudonymous operator of Mybitcoin acknowledged: “We’ve concluded that around 1% of the users on the leaked Mtgox password file had their Bitcoins stolen on MyBitcoin.” In total, 4,019 BTC worth $72,000 were stolen, with Mybitcoin covering their losses. It turns out that many users of Mt. Gox shared the same username/password combination on MyBitcoin. Let this be a reminder to use unique username/passwords on each site and 2FA if you don’t already. MyBitcoin covered losses for users in this incident.

Shutdown around 7/20/2011

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