Security incident · 2016-04-07
ShapeShift
According to the public DefiLlama incident dataset, ShapeShift (Bitcoin) suffered a security incident on 2016-04-07, with about $230K reported lost.
| Date | 2016-04-07 |
|---|---|
| Reported loss | $230K |
| Chain | Bitcoin |
| Target type | CEX |
| Technique class | Key Compromise |
| Technique | Private Key Compromised |
| Bridge incident | No |
| Within 2016 | #5 by loss that year, 0.2% of all reported losses that year |
How this kind of attack works
Private keys or signing rights that controlled the funds were stolen, and the attacker moved the money with valid signatures. On chain it looks like a normal transfer.
Would a pre-payment check have helped
Key compromise is a wallet and key-security matter; screening the counterparty or endpoint does not touch it.