KICKICO is a blockchain-based ICO (initial coin offering) support platform, which has fallen victim to a data breach. The breach took place on Thursday July 26th, 2018 at 9:04 (UTC) and caused the company to lose 70 million KICK tokens (7.7 million USD). According to KICKICO, “attackers managed to gain direct access to the smart contract of the project’s blockchain network by obtaining the private key.” The attacker then destroyed tokens at 40 different addresses and transferred them to 40 fake addresses under his control. The stolen funds were not permanently destroyed as the total number of tokens in the network had remained the same. KICKICO was able to regain access to the smart contract just a few hours after the incident. They had also replaced the private key to prevent further losses. KICKICO has promised to return all stolen tokens to the affected users.
By Akshay Rohatgi and Randy Pargman About this Student Research Project Binary Defense’s mission is