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 team learned about this incident after the complaints of several victims, who did not find tokens worth 800 thousand dollars in their wallets.
KICKICO is an online blockchain technology-based platform for fundraising in cryptocurrencies. It collected more than 84,000 ETH during its ICO, and was named “ICO of the Year” by BTC CIS AWARDS.
During the investigation, it was found that the total amount of stolen funds is 70,000,000 KICK, which at the current exchange rate is equivalent to $ 7.7 million.
At the moment, the control over the smart contract has been fully restored. The project team asks all those whose tokens have been stolen to email email@example.com for the return of funds to wallets.
KICKICO guarantees to return the exact amount of tokens KickCoin tokens to their legitimate owners. We apologize for the inconveniences, but guarantee that the situation is under control.
More details about the attack:
The hackers gained access to the private key of the owner of the KickCoin smart contract. In order to hide the results of their activities, they employed methods used by the KickCoin smart contract in integration with the Bancor network: hackers destroyed tokens at approximately 40 addresses and created tokens at the other 40 addresses in the corresponding amount. In result, the total number of tokens in the network has not changed. But thanks to the rapid response of KICKICO community and its coordinated team work, KICKICO 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.
At the moment the problem is completely eliminated, the wallets of KickCoin holders are safe.
KICKICO team supposes that such an attack caused by explosive KickCoins growth, that has tripled in price during the last 2 weeks (from 0,4 to 0,12 cents). KICK was among top 10 coins in coinmarketcap by growth last week. There has been many rumours about launch of a new project and they were supported by a leaked whitepaper, where stated KICK holders will receive airdropped tokens for.