$500k Worth AU Stolen from Cryptopia Due to 51% Attack

The founders of AurumCoin time claim that they are not responsible for what happened
14 November 2018   1695

The developers of AurumCoin have reported a 51% attack on their network, as a result of which an unknown user has withdrawn 15,752.26 coins ( over $ 500,000 at the time of publication) from the crypto-exchange Cryptopia. This is reported by CCN.

The founders of AurumCoin at the same time claim that they are not responsible for what happened, because the token has an open code, and shifted the blame to the employees of the exchange.

Aurum coin (AU) network was hacked (51 percent attack), a total of 15,752.26 AU is missing from Cryptopia’s wallet (cryptopia.co.nz exchange). Aurum coin network is not the responsibility of anyone, same as bitcoin network, it is an open source distributed crypto currency. What’s worse is that cryptopia exchange do not admit it. This is not the way to solve this problem.

Aurum Coin Team

In a parallel tweet, the project team writes that it does not blame Cryptopia, but the fact is that the coins were stolen. 

It is assumed that the hacker sent about 16,000 AU to an account belonging to the Cryptopia exchange and exchanged them for another cryptocurrency. After the transaction, the attacker used the available computing power and canceled the transaction.

According to the founders of the project, each AU token is provided with 1 troy ounce of 999 gold, which is located in secret vaults around the world. The token is mineable, and the emission is limited to 300 thousand coins.

SEC to Unveil New List of Probable TON investors

One investor in this list is a ex-member of the managing board of the Bitcoin Foundation and partner of Ribbit Capital Mayer Malka
27 January 2020   462

Some names of large investors and the names of investment companies that could take part in the $ 1.7 billion token sale of the Telegram blockchain project became known, CoinDesk reportes with reference to documents issued by the US Securities and Exchange Commission (SEC) in the framework of the current proceedings.

One such investor is a former member of the managing board of the Bitcoin Foundation and partner of Ribbit Capital, Mayer Malka. He during the testimony at the beginning of the month mentioned Telegram CEO Pavel Durov.

Answering a question about whether Telegram is known for investors who can take on the role of validators in the TON PoS blockchain, Durov said:

We didn't put together a separate list of the purchasers who we would assume have experience in validating other networks, although it was obvious that certain investors… such as, for example, Micky Malka that we have discussed earlier, might… have experience in these processes of validation or at least were closely affiliated with parties that had experience in such processes.


Pavel Durov

Telegram CEO

In addition, Telegram Vice President Ilya Perekopsky, in one of his reports, named David Jan, the founder of ABBYY, a linguistic solutions development company, among potential investors. According to the correspondence published by the SEC, Ian asked Perekopsky if he could get an allocation in the ICO if he contacted Telegram directly without intermediaries in January 2018. “100 percent,” replied Perekopsky.

Also, TON investors could become the American funds Kleiner Perkins, Fortress, Draper Dragon, Dragoneer, DRW Holdings and Redpoint. This follows from the testimony declarations affixed by the SEC to the recent petition. In eight declarations, TON investors explain what prompted them to purchase Gram tokens. Company names have been removed from all documents, but they have remained in the file names. Sources familiar with the situation confirm that they really could take part in the ICO.

Most of the witnesses interviewed by the SEC indicated that they were interested in the possibility of supporting the Telegram project in the ICO TON, while the messenger itself does not accept funding for its main business. The announced investment amounts are on average $ 5-10 million. At the same time, Kleiner Perkins was initially offered an allocation of $ 15 million, but the company managed to agree on a twice as large investment, it follows from the submitted documents.