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KICKICO Will Return 70 Million KickCoins Token Holders Amid Security Breach

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by Daria Rud · 2 min read
KICKICO Will Return 70 Million KickCoins Token Holders Amid Security Breach
Photo: Kickico / Facebook

Ethereum-based protocol KICKICO suffered a hack attack. 70 million KICK tokens were stolen. Currently, the problem is eliminated, and all the stolen tokens are promised to be returned to the holders.

KICKICO, an online blockchain technology-based platform for fundraising in cryptocurrencies, suffered a security breach on July 26.

KICKICO is blockchain-based platform that enables everyone to buy tokens of new disrupting projects when they are in their early stages. KICKICO community totals over 55,000 people, with the KickCoin being traded on ten major crypto exchanges. The platform has helped launching more than 20 projects resulting in successful ICOs with 250,000 ETH in total funds raised, for such projects as Micromoney, Hacken, Universa, Playkey, INS and others.

The KICKICO platform is easy to navigate, with the option to localize campaigns by authors. Since KICKICO has compatibility in most common languages, individuals can back campaigns all around the world.

Apart from effective assistance in side prijects’ ICOs launcg, in 2017, KICKICO itself earned the “ICO of the Year” title from BTC CIS Awards, as it managed to collect more than 84,000 ETH during the event.

Hacker Attack

Yesterday, the platform suffered attack. The hackers got access to the account of the KICK smart contract —the KICKICO tokens, and hided their activities by destroying tokens at approximately 40 addresses and creating tokens at the other 40 addresses in the corresponding amount.

In a short while, several people complained that they didn’t find tokens worth 800 thousand dollars in their wallets. The KICKICO team rapidly responded, carried out an investigation and found out that the total amount of stolen funds was 70,000,000 KICK. At the current exchange rate it is equivalent to $ 7.7 million.

According to the KICKICO team, the attack may have been caused by explosive KickCoins growth, that has tripled in price during the last 2 weeks (from 0,04 to 0,12 cents). Last week, Coinmarketcap placed KICK tokens among top 10 coins by growth.

The project team asked all those whose tokens have been stolen to email [email protected] for the return of funds to wallets and apologized for the incident. Moreover, all the stolen tokens are guaranteed to be returned  to KickCoin holders. The KICKICO team commented:

“We’ll return exact amount of tokens to their legit owners. We apologize for the inconveniences, but guarantee that the situation is under control.”

At the moment the problem is completely eliminated, and the wallets of KickCoin holders are safe.

Altcoin News, Cryptocurrency news, News
Daria Rud
Author Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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