$8.4 Million Stolen During Veritaseum's ICO
Posted by: Timothy Weaver on 07/26/2017 07:32 AM
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During another crypto-currency ICO (Initial Coin Offering), a hacker managed to make off with around 37,000 VERI tokens from the peer-to-peer Veritaseum platform and sold the stolen tokens for around $8.4 million in Ethereum.
Veritaseum's founder and CEO, Reggie Middleton, stated: “We were hacked, possibly by a group. The hack seemed to be very sophisticated, but there is at least one corporate partner that may have dropped the ball and be liable. A company that we use was compromised, the vulnerability was closed, and we are investigating whether we should move against that company or not."
The stolen amount represented only around 00.07% of the 100 million tokens being offered.
“The hacker(s) made away with $8.4M worth of tokens, and dumped all of them within a few hours into a heavy cacophony of demand. This is without the public knowing anything about our last traction,” Middleton revealed.
This is the third hack of crypto-currency exchanges. CoinDash was robbed of $7 million worth of Ethereum during their ICO. Bithumb crypto-currency exchange was breached, but the total amount stolen has not been released. And a hacker lifted $30 million worth of crypto-currency from multi-sig wallets created with Ethereum Parity clients 1.5.
Source: Security Week
Veritaseum's founder and CEO, Reggie Middleton, stated: “We were hacked, possibly by a group. The hack seemed to be very sophisticated, but there is at least one corporate partner that may have dropped the ball and be liable. A company that we use was compromised, the vulnerability was closed, and we are investigating whether we should move against that company or not."The stolen amount represented only around 00.07% of the 100 million tokens being offered.
“The hacker(s) made away with $8.4M worth of tokens, and dumped all of them within a few hours into a heavy cacophony of demand. This is without the public knowing anything about our last traction,” Middleton revealed.
This is the third hack of crypto-currency exchanges. CoinDash was robbed of $7 million worth of Ethereum during their ICO. Bithumb crypto-currency exchange was breached, but the total amount stolen has not been released. And a hacker lifted $30 million worth of crypto-currency from multi-sig wallets created with Ethereum Parity clients 1.5.
Source: Security Week
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