Cryptocurrency Risk Events

From Open Risk Manual

Purpose

Cryptocurrency Risk Events is an open catalog of observed (publicized) operational failures of cryptocurrency business models. The catalog aims to document (in due course) such events reasonably accurately to allow risk managers understand the (potentially new) vulnerabilities of new financial services models.

Criteria for inclusion

Risk Event Eligibility

There should be adequate, independent, confirmed and public information about the event, with authoritative, permanent urls.

Materiality Threshold

A 1mln (rough) equivalent threshold is used.


List of Events

Cryptocurrency Risk Events
1. Entity 2. Publication Date 3. Country 4. Category 5. Event Description 6. Event Type 7. Loss Amount 8. Links
MtGox Jun 2011 Japan Cryptocurrency Security Breach EF 2,609 BTC Wikipedia
MtGox Dec 2014 Japan Cryptocurrency Theft IF 744,408 BTC Wikipedia
Slock.io Jun 2016 Germany Cryptocurrency Software Hack EF, BE 3,641,694 ether NYT
Bitfinex August 2016 Hong Kong Cryptocurrency Security Breach EF 120,000 BTC Reuters
Yapizon May 2017 South Korea Cryptocurrency Security Breach EF $5.3 mln in BTC Bitcoin.com
Swarm City,Edgeless Casino, Aeternity July 2017 US Cryptocurrency Security Breach EF $32.6 million / 153,000 ether CNBC
Bithumb July 2017 South Korea Cryptocurrency Security Breach EF $1 mln in BTC / ether Fortune
CoinDash August 2017 US Cryptocurrency Security Breach EF $7 mln (in ether) CNBC
Enigma August 2017 US Cryptocurrency Security Breach EF $500,000 (1,492 ether) Wired
Huobi, OKCoin August 2017 China Cryptocurrency Misuse of client funds IF $150 mln Quartz
Tezos Sep 2017 US / Switzerland Cryptocurrency Misuse of client funds IF $232 mln Reuters
NextBlock Global Oct 2017 Canada Cryptocurrency False representations CPBP NA Forbes
Parity Technologies Nov 2017 UK Cryptocurrency Software bug / User error BD $300 mln Guardian
Tether Nov 2017 Hong Kong / US Cryptocurrency Security Breach EF $31 mln Bloomberg
NiceHash Dec 2017 Slovenia Cryptocurrency Security Breach EF 4,700 BTC ($70 million) WSJ
Youbit Dec 2017 South Corea Cryptocurrency Security Breach leading to bankruptcy EF 17% of assets BBC


See Also =

  • A larger list of bitcoin incidents was maintained in the bitcointalk.org List of Bitcoin Heists site (apparently no longer updated)
  • Fintech Risk Events

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