Blockchain-based platform for fundraising, KickICO has confirmed it has been hacked for $7.7 million. During the attack which took place on July 26, hackers managed to obtain access to KICK smart contracts account and therefore the KickICO token platform itself. ICO now says that all funds will be returned to their owners in full.
“The team learned about this incident after the complaints of several victims, who did not find tokens worth 800 thousand dollars in their wallets,” report said.
KICKICO security breach.— KICKICO.COM (@KICKICOplatform) July 26, 2018
Issue under control, all KickCoins will be returned
More info: https://t.co/76PS0L6XB6
WHY IS IT IMPORTANT?
1. The latest incident marks the second instance within a month when a Bancor system has been broken into. Earlier $13 million was stolen.
2. KickICO claims that recent growth in the price of their coin has most likely attracted the intruders. KickCoins has tripled its price in the past 2 weeks, from 0,4 to 0,12 cents.