$1 500 000 USD

MAY 2018




“The makers of a cryptocurrency trading app called Taylor were raided by hackers to the tune of $1.5 million worth of ETH. The incident occurred shortly after Taylor’s ICO began. Hackers made away with all of the funds that the group had raised. Following the heist, the thieves tried to sell the TAY tokens they had stolen on IDEX. To prevent the thieves from cashing out, Taylor’s developers asked IDEX to temporarily delist TAY.”

It appears to be a simple case of Ethereum stored insecurely, and breached by a hacker. The application appears to have launched successfully, with the company issuing a new token to replace the old one. Final words from the founder - "This episode will make us stronger." The project appears to still be running at this time.

Sources And Further Reading

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