$1.5 million from startup Taylor were stolen
The hack caused the company to stop its project to try to obtain financing from an investor or venture capital company
On May 22, the startup Taylor, which develops a cryptocurrency trading application, reported that it was pirated by more than 2,500 ETH, or approximately US $ 1.5 million, in addition to 7% of the total supply of its own TAY card.
According to the statement, the remaining tokens belong to the group of founders and advisors who have remained in an inaccessible contract of award.
Fabio Seixas, co-founder and CEO of the company, wrote: “It turns out that we have been hacked and have lost almost all of our funds. Now we have only around US $ 25,000. To be honest, it does not even pay the bills this month (…) This incident forced us to stop, take a step back and think about the future. “
Apparently, the theft put the project at risk, and the company has had no choice but to stop it, stop working full time on it, to try to obtain financing from an investment company or venture capital (VC) , or launch a sale of tokens to establish a “survival fund,” the company said in an update on Saturday.
Taylor raised more than $ 1 million in its symbolic sale earlier this year. The company has been developing an “intelligent cryptocurrency exchange assistant” that oversees major exchanges and performs technical analysis to find investment opportunities.
At the moment they are investigating the theft, but the evidence suggests that the perpetrators are the same ones who have pirated CypheriumChain in more than 17,000 ETH, an equivalent to approximately US $ 10 million in March.
N. Moncada
Source: CriptoTendencia
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