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Detail Analysis

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Date:

Status:

Count:

Contributor:

June 19, 2011

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Verified

4

zerofriction.io

Loss Amount:

42,400

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Recovered Amount:

-

Currency:

Dollars, BTC

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:

Bitcoin

Exchange

Assets

Compromised Access Control

Extended Method:

Hacked credentials

Data Sources:

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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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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.