Enigma hacked: $500k reported stolen

Enigma Token Offering hacked the same way CoinDash was last month
22 August 2017   3356

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. 

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   559

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.

 

Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.

 

Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.