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Digital Identity, Security & Online Fraud

Bitcurex attack confirmed by Polish authorities

Monday 20 March 2017 | 10:45 AM CET

Polish authorities confirmed that Bitcurex, a Bitcoin trading platform launched in 2012, and closed earlier in 2017, has been hacked.

Furthermore, an official investigation has been launched. The Prosecutor’s Office in Lodz, Poland, the town where Bitcurex's headquarters are located, have put out a statement, asking Bitcurex customers, mainly Polish users, to submit legal complaints. According to Bleeping Computer, it is unclear if the legal investigation targets the unidentified hacker, or Bitcurex's administrators, a Polish company named Digital Future.

The timeline of events that led to Bitcurex's closure is complex and spans six months. First signs of trouble appeared on October 13, 2016, when the platform shut down without any kind of explanation.

An analysis of Bitcurex's cold wallet revealed that within two seconds on October 13, 2016, someone had transferred 2,300 Bitcoin out of the trading platform's account. The sum was worth nearly USD 1.5 million at the time, but is worth USD 2.45 million at today's price, the online publication continues.

Bitcurex promised to restore service by November 30, 2016. The service eventually came back online sometime in November 2016, resuming trading, only to disappear a few weeks back, this time for good, with no statement on its website.

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