If you're a cryptocurrency startup, would you face a huge backlash by hacking your own customers to keep their funds safe if you know that a hacker is about to launch an attack and steal their funds? . This is exactly what happened yesterday when the Komodo Platform learned about a backdoor in one of its older wallet apps named Agama. Knowing they had little time to act, the Komodo team said it used the same backdoor to extract users' funds from all impacted wallets and move them to a safe location, out of the hacker's reach. The link for this article located at ZDNet is no longer available. . This is exactly what happened yesterday when the Komodo Platform learned about a backdoor in one of . you're, cryptocurrency, startup, would, backlash, hacking, customers. . LinuxSecurity.com Team
Another day, another ICO hacked. This time, KICKICO, an Initial Coin Offering (ICO) project that lets users conduct ICOs, pre-ICOs, crowdfunding and crowdinvesting campaigns have suffered a security breach and as a result, hackers have stolen more than 70 million KickCoins which is around $7.7 million. . The cyber attack took place on Thursday, July 26th when hackers breached the platform’s security after obtaining the private key of KickCoin’s smart contract and gaining direct access to KICKICO blockchain’s smart contract. . Recently, approximately $7.7 million was pilfered from KICKICO due to a cyber assault that compromised their blockchain safeguards.. KickICO Cyber Attack,Cryptocurrency Security,Crowdfunding Risks,Blockchain Breach,Smart Contract Theft. . LinuxSecurity.com Team
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