Bitcoin, as any system of man, exhibits together both the highest ideals of utopia, and the lowest residual trash of society.
[Note: some names & sensitive details have been changed]
This is the story of how ShapeShift, a leading blockchain asset exchange platform, was betrayed. Not once, not twice, but three times in less than a month.
In total, nearly two-hundred thousand dollars in cryptocurrency was stolen by thieves within and without, not to mention the significant resources expended in its wake. Nevertheless, no customer funds were ever lost or at risk, a milestone for an industry pocked with past tragedy, and ShapeShift itself has adapted and rebuilt, humbled by the experience learned, and ever more resolute in its mission of safe, frictionless asset exchange.
In the spirit of Bitcoin’s openness, we wanted to share this story with the community; may you be informed, entertained, reflective, and ever-diligent in your own affairs.