ShapeShift Exchange in Case: $ 1 Million Bitcoin Stolen

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ShapeShift, one of the leading cryptocurrency exchanges and companies, made its way to the US District Court for lawsuit today. The fact that the person who is suing ShapeShift is Azamat Mukhiddinov, the former software developer of the exchange, makes things quite interesting.

The company claims that the former employee installed a program using ShapeShift’s computer infrastructure. It was found that the program gradually transferred small amounts of BTC from ShapeShift’s corporate account to a wallet thought to be probably the software developer.

$ 1 Million Bitcoin Was Stolen

It is emphasized that the total value of these transfers made in November 2019 and March 2020 is more than 90 Bitcoins, approximately 1 million dollars. In the research conducted by ShapeShift, a Bitcoin deficit with a value of more than $ 900,000 was detected at first and then the program was revealed. It is stated that ShapeShift learned about this event and took action, especially in May.

ShapeShift emphasized that the former software developer was contacted on May 25 and he accepted this accusation. It was announced that Azamat would not be able to return all of the stolen funds, but instead transferred $ 31,900 in cash as well as 60 Bitcoins. It was announced that the continuation came slowly and Azamat returned the fund worth 900,000 dollars he stole.

ShapeShift still went to court to get the money and effort it took to uncover this incident. It is stated that ShapeShift employees spent many mornings for this event and had to write new code. It is also stated that this prevents employees from doing other “more profitable jobs”.

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