Grand Crypt Currency Robbery: Hackers steal over $ 5.7 million

Grand Crypt Currency Robbery: Hackers steal over $ 5.7 million

With its help, users can create their own digital unique token, the value of which will grow depending on how popular the creator is.

These digital tokens are used by artists / celebrities and then distributed to fans who demonstrate their loyalty. Now this site is the target of a hacker attack, which has left many users without these tokens. As Roll points out, the release occurred because the digital key of one of the wallets was compromised, and they note that this is not a mistake / error in the smart contacts or deals of these tokens.

Analyst Igor Ikamperdev said the attackers “earned” nearly 3,000 ethereal cryptocurrencies, valued at about $ 5.7 million. 700 of these social tokens have already been sent for tornado money, which hackers use to clear / hide their tracks. Icombardev points out that the hacker attack may have been an “internal affair” since the private keys were compromised and that the victims themselves consented to these transfers.

In a statement, Roll apologized to its customers and announced 000 500,000 assistance to help the creators and their communities: “It is very difficult to say how devastating all this was. We apologize so much for what happened. We take security very seriously and we strive for that.” Towards gaining the trust of the communities because of their social money, but today we are confused! ”- it said in the company’s announcement.

With the help of these tokens, artists can distribute their coins through ERC-20 standards (blockchain cryptocurrencies ethereum) and then they can determine how their community will earn and how they will spend that community currency. Hackers can exchange these tokens for other cryptocurrencies, in this case they did for cryptocurrency ethereum. Roll was founded by Bradley Miles, a former analyst at the Goindesk portal. So far, the company has issued more than 160 different tokens, and is the first world to open such a site.

After the attack, these social tokens suffered a sharp drop in value.

(Smart Life)

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About the Author: Seth Sale

Seth Sale is an all-around geek who loves learning new stuff every day. With a background in Journalism and a passion for web-based technologies and Gadgets, she focuses on writing about on Hot Topics, Web Trends, Smartphones, and Tablets.

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