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10 cases of losses at the beginning of the use of the Bitcoin

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Bitcoin emerged in 2009 as one of the virtual currency offer cross border transactions without a third party. Although initially less interested and the price is Bitcoin is very cheap, Bitcoin is starting to get its popularity in recent years. Bitcoin even ever arrive at the price of $20.000 per BTC on December 2017, though most lost its value in the year 2018.


Many people think that Bitcoin is a breakthrough without disabilities. However, there are countless cases of loss, theft, robbery, hacking, and other adverse cases occurred at the beginning of the Bitcoin is best known. Here are some of the most famous examples:

1. Losses Stone Man (August 2010)

Because it doesn't save your Bitcoin appropriately, 8.999 BTC user's beralias Stone Man pass away not a trace. Apparently, the private key needs to be used to open his Bitcoin Wallet has been lost. Although in the year 2010 the value of BTC is so small, but if dikurskan with current price, 8.999 BTC worth around $93 million.

2. Scam Ubitex (April – July 2011)

Ubitex is the first company listed on the stock exchange GLBSE. The company is now dead because it is proven to perform the operation illegal. Run by minors, Ubitex claim if around 1.000 BTC of the lost investments have  "spent ". Many of the later investors duped, because ownership of the Bitcoin they converted into USD without follow-up.

However, fraud Ubitex will not likely occur in the year 2018. Most investors at the time it was very naive, and does not have many sources regarding the investment company trusted crypto. They are also less understand precautions Scam in the world crypto.

3. The case of Stefan Thomas (June 2011)

Stefan Thomas were early adopters Bitcoin. The figure who ultimately falls as salau one developer Bitcoin it suffered losses of about 700 BTC due to loss of the Private Key. He used this loss is to teach the importance of backup on the user another Bitcoin.

4. Losses of Allinvain (June 2011)

While this is arguably not a loss overall, but Allinvain have  "donate " at least 25.000 BTC to fraudsters impersonate charity organization. Allinvain is one of the miners beginning at the time the BTC could still be mined with the CPU, so this loss is probably only worth a little at the time. However, if the dikurskan value of the BTC currently, losses reached $165 million Allinvain.

5. Mt. Gox Incident (June 2011)

Mt. Gox, bursa BTC/USD leading, experienced a massive hacking to the detriment of many customers. After the incident, Mt. Gox disable its services over the past few days. The scale of the incident was much debated; some of the reported value of the theft of nearly 500.000 worth of BTC. However, further inspection revealed that the losses worth about 2.500 BTC. In addition to the loss of the Bitcoin, hacking it involves leakage of data base.

6. Theft of mass MyBitcoin (June 2011)

Users with  "a weak password " in MyBitcoin suffered a surprise in June 2011. The incidence of Mt. Gox allows hash containing the information from all of the user's password is known to the hacker. This password is then used to access and retrieve users ' crypto MyBitcoin money in school.

Little information was released about the theft of MyBitcoin. In fact, this case is a fraud and the greatest theft of all time which resulted in 78.739 BTC vanished. Although MyBitcoin offers Bounty Hunting with a big reward to solve this problem, the perpetrator of the fraud account and stealing funds still cannot be detected.

7. Hacking Bitcoin7 (October 2011)

A group of hackers who are known to come from Eastern Europe and Russia have been successfully entered into the Exchange System Bitcon7, and holds at least 11.000 BTC. Bitcoin7 was later closed due to hacking. One of the biggest hacking this serve as a reminder to the community of Bitcoin to stop trusting the new stock exchange without a clear identity.

8. Bitscalper Scam (March – April 2012)

Bitscalper was founded as  "arbitration engine ". Bitscalper promising returns are very high and unrealistic. As a result, he suspected a Scam from the beginning. Unrest against the company is increasingly supported by a management that is hidden and anonymous. This Scam incidents resulted in losses of at least 1.000 BTC from its users.

9. Hacking Linode (March 2012)

At the beginning of March 2012, company Web and Cloud Hosting based in New Jersey, Linode, allegedly hacked by a group of hackers. A vulnerability in the customer support system used to gain administrator access to the server. After the server is compromised, Linode 8 accounts that deal with Bitcoin target. The Exchange, which get the most severe losses is the trading platform Bitcoinica. This resulted in the redirection without permission from BTC's "Hot Wallet ", a term used to describe the wallet withdrawal operations, of the affected services.

Linode theft also affects the Tradehill, but no coins were stolen from them. In contrast, the Tradehill suffered a brief downtime because of the incident. As a result of this theft, all services migrate to another platform. Until today, users of the Bitcoin still afraid with Linode and prefer not to use its services.

10. Hacking Bitcoinica I (May-July 2012)

Zhou Tong, the former founder of Bitcoinica, find a Rackspace server entries to Bitcoinica through a suspicious email address. This resulted in the theft of funds and the loss of the primary database. This incident made the Bitcoinica to disable services. The total losses were about the stolen Bitcoinica 38.527 BTC.

On July 13, 2012, a thief breaking into Bitcoinica account with account details from Mt. Gox. The thieves took a run about 30% of the assets of the Bitcoin Bitcoinica. Until recently, identity thieves are still unknown.
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