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Detail Analysis

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Date:

Status:

Count:

Contributor:

June 22, 2021

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Verified

1

zerofriction.io

Loss Amount:

75,000,000

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Recovered Amount:

-

Currency:

Dollars

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Business

Poor Key Management

Extended Method:

Lost private key, no back up

Data Sources:

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According to Calcalist, the cryptocurrency company StakeHound has filed a lawsuit against the institutional security company Fireblocks, claiming that ETH worth 245.5 million Israeli new shekels (approximately US$75 million) was lost due to Fireblocks’ mistakes. StakeHound stated that as Fireblocks deleted the key for no reason without backing up the key, 38,178 ETH were lost. Crypto staking platform StakeHound claims that negligence by a Fireblocks worker resulted in tens of tens of millions of {dollars} value of crypto belongings being lost with none backup accessible. Fireblocks is an Israeli-based company that gives custody providers for companies and which is engaged on rushing up digital transactions.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.