"HACKERS" Steals US$7m Worth of Ethereum
Hackers always find a new way to steal information or currency! It's not the first, nor the last time we will see a cryptocurrency suffering from a major hack. The InsureX ICO was affected by a large hack not too long ago. CoinDash, a new cryptocurrency, reported over $7 million worth of Ethereum has been stolen in about 30 minutes. That is a major problem for any cryptocurrency ICO, even though the team is working on issuing tokens to the affected investors regardless. Be careful, every-time you go surfing on the net there is always someone or people trying to steal your hard money
Would you explain how they did it?
I dont have the full story but understand that it had something to do with the code allowing anyone to initialise existing wallets over and over again. The patch only allows initialisation once. Not sure how this bug allowed control over someone else's wallet.
It's a good reminder, thanks for posting. As much as you can secure yourself, by cold-storing your own keys, ICO's are just like an exchange - they still hold your keys until you can take possession of your tokens or coins and self-store.