Cryptocurrency Trading App Taylor loses 2,578 ETH in hack


The creators of Taylor, a cryptocurrency trading app, have claimed that they have lost about 2,578.98 Ether (which is currently valued at over $1.49 million) from the company’s wallet in an attack by an unidentified hacker.

Taylor posted on Medium on May 22, revealing that they had been hacked and almost all their funds stolen. The company said that apart from the Ether, TAY tokens were also stolen from the Team and Bounty pools, amounting to over 7 percent of the total supply.

“The only tokens that were not stolen are the ones from the Founders’ and Advisors’ pools, because there’s a vesting contract making them inaccessible for now,” the report read.

The company wrote that since they are still investigating the attack, they cannot reveal much, but said, “What we can say is that it was not a smart contract exploit. Somehow the hacker got access to one of our devices and took control of one of our 1Password files.”

Taylor believes that the hacker is the same person or group that hacked CypheriumChain and stole over 17,000 ETH (amounting to about $9 million), as the hacker worked by collecting the amount from multiple sources into a single wallet then transferring it to a bigger wallet, which is allegedly the same wallet where the tokens from the CypheriumChain hack were transferred.

The team also noticed an attempt to dump the stolen TAY tokens on IDEX and asked them to delist TAY until they knew more about the situation, which means that the market is down for TAY and even legitimate token holders cannot trade.

“We are considering to issue a new token and swap the old one,” the company said. “The goal is to make sure the hacker does not receive the new token. We analyzed all transactions made by him, and we know exactly where the stolen tokens are.”

Taylor warned token owners to stop all trading of TAY tokens until more information is revealed and new tokens are sent out, “otherwise, you may lose your money and will not be able to receive the new token.”

“We reassure that we will spare no efforts to find a way to mitigate the implications of this incident for every single legit token holder. We are not going anywhere!” the company said after the attack.


Twitter to remove accounts of cryptocurrency scammers

Twitter is cracking down on cryptocurrency scammers and is taking steps to reduce the number of such scams. This comes after a number of accounts impersonated Elon Musk, Vitalik Buterin, and John McAfee to dupe users into sending them small amounts of cryptocurrency.

The impersonators would deceive other Twitter users by using tactics such as misspellings in the username or using the same or similar avatar to fool users.

They would tell followers to send them small amounts of cryptocurrency and would promise in return to send a bigger amount back.

In February, Buterin tweeted to his followers that if they sent him 0.1ETH, “I will send you nothing because I am too lazy.” Scammers, in reply, took the opportunity to ask users to send them small amounts of ethereum.


In response to the scammers impersonating Buterin, he took to Twitter to negate the rumours:


A Twitter spokesperson said, "We're aware of this form of manipulation and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner."

20,000 ETH Tokens Returned To Coindash


It so occurred on February 23rd that Coindash made public by means of its blog that 20,000 ETH had been re-stationed to company's wallet at 12:01:41 AM +UTC.

Amid July of a year ago, the hacker changed the deposit address that was displayed on Coindash's, at that point siphoning nearly 37,000 ETH tokens from ICO subscribers  – at the time esteemed at around $10 million USD. The 20,000 ETH tokens came back to Coindash are right now worth almost $17 million.

The exchange involves the second time that the hacker has returned assets to Coindash, as 10,000 ETH tokens were sent to one of Coindash's Ethereum wallets on September nineteenth, 2017 – then comparing to more or less $3 million.

Facetiously, the hack endured by Coindash a year ago, at that point portrayed as "damaging event to both our contributors and our company," now seems to have been liable for the company netting a critical dollar-value increment in capital.

Following the latest transaction, the consolidated dollar-value of the returned 30,000 ETH at the point of separate execution equates to around $20 million – or twofold the fiat-estimation of the stolen ETH at the time of the burglary.

The Israeli Authorities were likewise notified of the transaction.

The hacker nonetheless returned the 20,000 ETH to Coindash and the Chief of Coindash, Alon Muroch, even issued an announcement with respect to the news, expressing "Similar to the hack itself, the hacker’s actions will not prevent us from the realizing our vision, Coindash product launch will take place next week as originally intended."

Coindash's product launch is as of now scheduled for February 27th.


Coindash's blog further expressed that the company "notified the Counter Cyber Terrorist Unit in Israel" with respect to the transaction, and that "The hacker’s Ethereum address will continue to be tracked and monitored for any suspicious activity...”

Ripple passes Ethereum to become World’s Second-Largest Cryptocurrency

Ripple has overtaken Ethereum as world’s second-largest cryptocurrency. Its XRP token climbed more than 50% on Saturday.

In just 24 hours, Ripple rose to as much as $2.20.

Ripple has had one of the biggest growth amongst digital tokens this year, going from less than a cent ($0.006523) in January, to $2.24 on Saturday, which represents a surge of almost 350 times in value.

This could be because of the increase in interest by speculators, as is the case of most cryptocurrencies, but various experts claim that Ripple is worth looking into.

The advantage of ripple, according to its backers, is that it is not just a cryptocurrency but is also used as a digital protocol that acts as a bridge to other currencies and doesn’t discriminate against peers, whether they are using digital money, fiat currencies, or even mobile minutes.

Unlike bitcoin and other cryptocurrencies, Ripple follows a centralised system and its owners are known.

Russian Airline "S7 Airlines" started using blockchain to issue tickets

"Alfa-Bank" and "S7 Airlines" started the innovative block chain platform for automation of commercial transactions, namely the sale of air tickets.

The solution implemented by companies, is based on the Ethereum platform to create decentralized online services on the basis of the block chain.

Reportedly, the calculation speed increased from 14 days to a record 23 seconds. Thus, the airline does not provide deferred payment to agent and gaines revenue immediately after booking the ticket. The agent, in turn, is free of a Bank Guarantee paperwork.

Moreover, the implementation of block chain allows to minimize a human factor and to increase the reliability of transactions.

In the future S7 Airlines hops to extend the scope of the block chain platform. The suppliers of fuel and food, for example, can be engaged in the project.

 - Christina