KICKICO Hacked, hackers gained access to the KICK smart contact token of the KICKICO platform and stolen 70,000,000 KICK which is equivalent to $ 7.7 million.
KICKICO is an initial coin offering (ICO) project that launched with the Ethereum blockchain protocol. KICKICO ranks 133 according to coinmarketcap and handles $0.113662 USD every day.
The company learned the hack attack after several victim complaints loss of tokens that worth 800 thousand dollars in their wallets.
According to KICKICO blog posts, the “the control over the smart contract has been fully restored and the company asked users to update victims about the stolen tokens.
Hacker gained access to the private key of KickCoin smart contract owner account and destroyed tokens at approximately 40 accounts and recreated them at other 40 accounts with the corresponding amount.
The stolen tokens were not permanently destroyed, they were just replicated in another account. KICKICO guarantees all the tokens will be restored to the account holders.
KICKICO experienced a security breach in the afternoon (EST) today. All wallets are safe now. We are investigating the issue and will post an update when we get more details.
— KICK ECOSYSTEM (@KickEcosystem) July 26, 2018
“Thanks to the rapid response of our community and our coordinated teamwork, we were able to regain control over the tokens and prevent further possible losses by replacing the compromised private key with the private key of the cold storage.”
On July 10, Bancor Suffers Security Breach, hackers compromised the wallet that used to update the smart contacts and used to withdraw the Etherum that worth $12.5 million and $1 million worth Pundi X from the BNT.
From nowhere cyber attacks against crypto exchange evolving in rapid phase, within last 60 days more than five crypto exchange updates have been targeted.