Enigma hacked: $500k reported stolen

Enigma Token Offering hacked the same way CoinDash was last month
22 August 2017   3327

Last month, Ethereum ICO CoinDash fell prey to hacker attack and lost more than $10m as hackers managed to change the address on its website.

Now, another project failed to withstand the hacker attack: a hacker managed to compromise Enigma before its ICO in a similar way netting over 1,500 Ether (over $500,000) from the community.

Notable, Enigma, a project started by MIT graduates whose ICO was scheduled for September, did not lose any money itself, as the hacker only managed to reach the company’s website, mailing list, and Slack group:

How did it happen? Some reddit.com users found out that Enigma CEO Guy Zyskind’s email had been accessed by the hacker. Thus, Zyskind’s email, according to the reports, had been "dumped on the internet in the past" due to other services being compromised. Since then Zyskind allegedly has never changed his password, and no two-factor authentication was enabled. Using the email the hackers may have exploited to get access to the Slack channel, Enigma website, and user mailing list.

Being compromised, the Enigma team quickly warned the community of the hacking incident. Still, about 200 transactions were made. At the time of writing, the hacker has already started moving its Ether to various other addresses.

Eventually, this was not the end of Enigma's problems as a bit later the hacker set up a new website in order to try fool even more users: 

The whole situation remains to be investigated, meanwhile the Enigma team calls upon to be vigilant. 

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   90

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.