BitStamp’s $5 million dollar phishing attack


BitStamp, a hugely popular Bitcoin exchange was hacked back in January and the attackers made of with $5million worth of Bitcoins at the time. At the time BitStamp never disclosed any details of what happened but a confidential informant has leaked some of the details of the attack and bringing to light what happened.


A report posted on Scribd titled ‘Bitstamp Incident Report’ which was signed off by the General Counsel of BitStamp, George Frost and also reports by UK’s cybercrime unit and the FBI. Has since been removed but detailed how staff noticed unusual data transfers on the logs, totalling about 3.5GB and the destination was also a suspicious IP based in Germany. Later it was discovered that a VPN was used to do the transfer and the inside connection came from within a laptop located inside the building.

The laptop became infected through a simple phishing attack, after obtaining a infected Word document. All that the hackers did from there was continue to make attacks towards staff until they found the sysadmin computer. From there they could access hot wallet, a system run by Bitstamp which has all the client’s ID’s. Then that’s when the Bitcoins went missing.

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