Hdr_About.jpg

Detail Analysis

link.png

Date:

Status:

Count:

Contributor:

February 12, 2020

info.png

Verified

1

zerofriction.io

Loss Amount:

2,000,000

info.png

Recovered Amount:

-

Currency:

Dollars, MIOTA

KYC By:

Audit By:

None

None

info.png

Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

info.png

Key Indicators

Platform:

Type:

Category:

Method:

IOTA

Network

Chain

Front-end Vulnerabilities

Extended Method:

Application vulnerability

Data Sources:

info.png

IOTA has shut down its entire network this week after hackers exploited a vulnerability in the official IOTA wallet app to steal user funds. Approx 8.5M MIOTA tokens were taken. While the IOTA team has not confirmed the value of the stolen funds, open-source reportings has the total at around $1.6 million worth of IOTA coins. The founder of the distributed ledger network, David Sonstebo, said he would repay people affected by the $2 million hack from his own IOTA holdings. The "main motivation for the decision" had been to "safeguard the IOTA Foundation's runway" over the next 12 months, he added.

info.png

DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.