Another “Crypto Hack” Sees Attackers Stealing Over $7.7 Million – ICO Platform Promises Full Refund

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Jul 30, 2018
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Attacks on cryptocurrency platforms continue as another ICO platform is reporting a security breach. KICKICO has released a statement confirming a cyberattack on the blockchain-based ICO support platform, losing over 70 million KICK tokens worth nearly $7.7 million.

“On July 26 at 9:04 (UTC) KICKICO has experienced a security breach, which resulted in the attackers gaining access to the account of the KICK smart contract – tokens of the KICKICO platform,” the firm said in its statement.

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KICKICO said that hackers gained direct access to the private key of the KICKICO platform that enabled attackers to steal tokens from the owners of the KickCoin smart contract. Attackers used this key and destroyed 40 addresses while creating another 40 at the same time to hide their activity. The platform said that it was “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.”

KICKICO assures that it has regained access over the KICK smart contract and is urging users who have lost their funds in the cyberattack to reach out via email at report@kickico.com.

The investigation revealed that attackers made away with 70,000,000 KICK tokens, which comes at around $7.7 million at the time of the hack. KICKICO has also promised to return all tokens to holders who may have lost their tokens.

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KICKICO guarantees to return all tokens to KickCoin holders. We apologize for the inconveniences, but claim that the situation is under control.

The platform admitted that it didn’t learn about the breach until it received complaints from the victims who couldn’t find their tokens, with one user missing tokens worth over 800 thousand dollars in their wallet. The attack is a latest in a series of similar breaches that have focused on the cryptocurrency platforms, exchanges, and users.

KICKICO users are recommended to contact the company for further assistance. More details available in the official statement.

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