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Detail Analysis

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Date:

Status:

Count:

Contributor:

August 11, 2011

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Verified

2

zerofriction.io

Loss Amount:

2,000,000

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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

Poor Key Management

Extended Method:

Private key leak, hot wallet

Data Sources:

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MyBitcoin was a user-friendly wallet platform catering mostly to crypto newbies interested in buying bitcoin for the first time. Dozens of users flocked to the platform in its early days. MyBitcoin built its reputation by providing a free, user-friendly service targeted at newbie Bitcoin buyers. It collected scores of users, including Bitcoin evangelist and host of The Bitcoin Show Bruce Wagner. MyBitcoin had half its deposits in “cold storage,” he said, so it will be refunding all users 49 percent of their deposits. MyBitcoin claims to have had 154,406 Bitcoins in its coffers at the time of the incident, which at the time translated to more than $2 million USD.

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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.