The organizers of the ICO crowdfunding platform KICKICO reported that as a result of theft of the private key to a smart contract unknown attackers seized 70 million tokens KickCoin (KICK) cost about $7.7 million
As stated in the project’s blog, the incident became known after some users complained they did not see the tokens in their wallets.
KICKICO security breach.
Issue under control, all KickCoins will be returned
More info: https://t.co/76PS0L6XB6
— KICKICO.COM (@KICKICOplatform) 26 July 2018
Initially it was about the missing tokens in the amount of $800 000, but as a result of the investigation, it was determined that the damage was more impressive: a total of 70 million was stolen token KICK.
As noted in the message, for the time that hackers had full access to the smart contract KickCoin, they destroyed 40 locations, creating instead the same number of new addresses with identical balance sheets.
After a few hours the team KICKICO regained control of smart contract, while the compromised private key was replaced with a private key from a cold wallet.
“Thanks to the quick reaction of the community and coordinated teamwork, we were able to regain control over the tokens and to prevent possible further losses”, — stated in the project’s blog.
According to CEO KICKICO Anti Danilevski, the project will “guarantee” to the affected users a full refund.
Note that, since the beginning of July, the value of the token KICK showed an impressive growth, rising from $0,036 to $to 0.127.
Earlier in July, unknown attackers broke into the used to update the smart contract wallet platform Bancor, the result of which was stolen 24 984 ETH ($12.5 million) and NPXS 229,35 million ($1 million).