Platform Trade.io hacked! The loss amounted to 50 million tokens TIO
Yesterday, October 21, 2018 at 17:40 on Kiev and Moscow, the Swiss investment blockchain-company Trade.io positioning itself as a “financial service of new generation”, was hacked. From a cold wallet startup lost 50 million tokens TIO.
At the time of breaking 50 million Trade Token (TIO) was worth $11 million After the attack, the asset value fell sharply, and now to sell the stolen just over $8 million.
Yet on the circumstances of the hacking following. At 14:40 GMT TIO 50 million was moved from the cold wallet Trade.io. 1.3 million TIO immediately brought to Kucoin and Bancor. Currently, the trade-TIO at these sites frozen.
Recently TIO steadily grew. On 14 October, the token was trading at the level of $0.19 and 18 October — already at $0,25. Today, the asset has lost 8%. Now Trade Token can be purchased for $0,16.
Representatives of the company stated that the stolen tokens were a pool of liquidity — funds used to support transactions with this asset.
According to the latest information Trade.io prepares for the fork. This will make the stolen tokens useless pieces of code. “Obviously, the competitors are closely watching the development of Trade.io, but we will not go on about the people trying to destroy our company, — said the representatives of the trading platform. — The devotional community, and such attacks will only make us stronger.”