July 17 2010 mt gox is established
September 18 2010 bitcoin pooled mining operated by slush begins first block can be mined by global civilians
Jan 28 2011 25% of total bitcoins generated (5.25 million coins in circulation
Feb 9 2011 bitcoin reaches parity with us dollar 1 usd 1 btc)
MARCH 6 mt gox sold to japans tibanne company a new high of 900Ghash/sec total network speed is reached (potentially supercomputer or bot net joining the network)
June 13 2011 25000btc stolen from bitcoin forum member allinvain
mt gox major breach 60000 users details were taken. Admin triggered sell order which drove the price down from 17.51 to 0.01
June 19 2011 tradehill and britcoin exchanges (600 accounts effected , one user losing more than 2000btc the other 599 how many coins were stolen from them?
July 26 2011 Bitomat (worlds 3rd largest exchange) loses 17000 bitcoins they were holding for clients (where are they now?
August 5 my bitcoin loses 150000 bitcoins where are they ?
March 2012 linode hacked 46000 btc stolen
may 11 2012 bitcoinica hack 18000 btc stolen
June 2012 coinbase founded
September 3 2012 bitfloor hacked for 24,000 btc
March 8 bitinstant hacked approx 400 btc
April 20 2013 bitcoin central is hacked a few hundred btc , site owner agrees to fully cover
May 2013 gaming company esea called out for secretly using customers computers to mine btc
May 14 2013 united states homeland security seizes over 2.9 million from a dwolla account that belonged to a subsidiary of mt gox because it allegedly failed to register as a money transmitting business
May 23 2013 bitcoin central hacked a few hundred btc taken
October 2 2013 fbi shuts down silk road seizing 3.6 million worth of btc (price per coin $139)
December 2 2013 960000 btc stolen from sheep marketplace (online drug site)
The Mt. Gox hack
On 7 February 2014, Mt. Gox stopped all bitcoin withdrawals, claiming that it was merely pausing withdrawal requests “to obtain a clear technical view of the currency process.” After a number of weeks of uncertainty, on 24 February 2014, the exchange suspended all trading and the website went offline. That same week, a leaked corporate document claimed that hackers had raided that Mt. Gox exchange and stole 744,408 bitcoins belonging to Mt. Gox customers, as well as an additional 100,000 bitcoins belonging to the company, resulting in the exchange being declared to be insolvent. On 28 February Mt. Gox filed for bankruptcy protection in Japan, and in the US two weeks later.
Subsequent investigations have shown that the massive hack of Mt. Gox had begun as early as September 2011. As a result, Mt. Gox was operating while technically insolvent for almost two years and had practically lost all of its bitcoins by mid-2013. Additional evidence has suggested that Mt. Gox was already missing up to 80,000 bitcoins from its exchange even before Mark Karpelés purchased the exchange in 2011.
Although it remains an ongoing investigation and the facts remain unclear at this time, it is presumed that most of the bitcoins that were stolen from Mt. Gox were taken from its online (or hot) wallets, including all of the currency being held in cold storage, due to a “leak” in the hot wallet. An online cryptocurrency wallet is a web-based wallet used to store secure digital codes, known as private keys that show ownership of a public digital code, known as a public key, that can be used to access the currency addresses and it is this information that is stored in a wallet. Prior to September 2011, the Mt. Gox private key was unencrypted and it would appear that it was stolen via a copied wallet.dat file, either by hacking or perhaps through an insider.
Once the file was hacked, the hacker(s) were able to access and cipher bitcoins gradually from the wallets associated with Mt. Gox’s private keys without the hack being detected. The shared keypool of the copied file led to address re-use, which meant that the company appeared to be oblivious to the theft, with the Mt. Gox systems interpreting the transfers as deposits apparently being moved to more secure addresses. Whenever the wallets emptied, the Mt Gox system’s interpretation of the theft as deposits resulted in an additional 40,000 extra bitcoins being credited to multiple user accounts.
Any much more theft has taken place. Has it all been by the same group? Are they linked to the founding team?