2018-7-15 16:23 |
On Monday, the project announced its app was down for maintenance, and shortly after, it revealed a security breach had taken place.
Then on Tuesday morning, Bancor published details of the breach: a wallet used to upgrade smart contracts was compromised and used to steal 3.2 million of the platform’s own BNT tokens (worth $10 million), 25,000 ETH (about $12.5 million) and 230 million NPXS tokens ($1 million).
Some background: it was Bancor that raised a then-record-breaking $153 million in a token sale, which saw participation from investors like Tim Draper and the investment firm Blockchain Capital.
As an early mover in using the initial coin offering (ICO) funding model, Bancor has long been a magnet for critiques.
One observer suggested that those criticizing Bancor might feel differently if it was their funds at risk following a hack.
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