Etherparty ICO Briefly Falls Prey to Cyber Attack

Share

CryptoCoins News | Josiah Wilmoth | Oct 5, 2017

The Etherparty ICO briefly fell prey a cyber attack, causing some contributors to misdirect their funds to the attacker’s address.

Blockchain startup Etherparty launched the initial coin offering (ICO) for its smart contracts creation platform on October 1. According to a blog post published later that day, an attacker successfully injected a fraudulent wallet address into the Etherparty ICO website approximately 45 minutes after the ICO went live. The team spotted the breach almost immediately, and within 15 minutes the website had been taken offline. The website remained down for about 90 minutes while the team rebuilt it and moved it to a new server.

GET INVOLVED!  VanFUNDING 2017 scheduled for NOV 28 in Vancouver - Registration opening soon

Etherparty did not reveal how much the attackers netted from the exploit, but the startup did say it would distribute tokens to any contributors who sent funds to the fraudulent wallet address prior to the website takedown.

“Our team has been consistently and successfully thwarting potential security issues to avoid further escalation,” commented Lisa Cheng, Founder of Etherparty. “However, we do acknowledge and apologize for the temporary disruption to our otherwise successful launch day. Etherparty is eager and committed to compensating all affected contributors for the inconvenience.”

Despite the incident, the Etherparty ICO appears to be proceeding quite successfully. Including funds raised during a presale, the startup has raised more than $28 million worth of ether, bitcoin, and USD.

Continue to the full article --> here

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both investment and social crowdfunding, blockchain ICO, alternative finance, fintech, P2P and online investing stakeholders across the country.  NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a vibrant and innovative online financing industry in Canada.  Learn more About Us or visit www.ncfacanada.org.

Share

Leave a Reply

Your email address will not be published. Required fields are marked *