initial coin offering | Breaking Cybersecurity News | The Hacker News

Etherparty announced Sunday that its ICO (Initial Coin Offering) website selling tokens for a blockchain-based smart contract tool was hacked and the address for sending funds to buy tokens was replaced by a fraudulent address controlled by the hackers. Vancouver-based Etherparty is a smart contract creation tool that allows its users to create smart contracts on the blockchain. Companies like this launch ICO to let them raise funding from multiple sources. Etherparty said the company launched its Fuel token sale on Sunday, October 1 at 9 A.M. PDT, but just 45 minutes, some unknown attackers hacked into its ICO website and replaced the legitimate address by their own, redirecting cryptocurrencies sent by investors into their digital wallet. According to the details released by the Etherparty team, the company detected the hack after just 15 minutes and immediately took its website down for nearly one and half hour to fix the issue, preventing more people from sending funds to ...

China's central bank today announced an immediate ban on all ICO—Initial Coin Offering—fundraising, to prevent fraud and illegal fundraising. ICO is the hottest new thing in the blockchain world, which is an alternative to crowdfunding that lets a firm raise funding from multiple sources. The People's Bank of China (PBoC), the country's central bank and financial regulator, has issued an official notice on Monday, forbidding "all types of currency issuance financing activities" that have "seriously disrupted the economic and financial order." This PBoC's bold move has been backed by many other Chinese government administrators and regulators including the China Securities Regulatory Commission, China Insurance Regulatory Commission and the Ministry of Industry and Commerce, and China Banking Regulatory Commission. This move marks the end of an era of ICO fundraising in China. The regulator claims that ICOs are being misused for "...

More Ethereum Stolen! An unknown hacker has so far stolen more than $471,000 worth of Ethereum—one of the most popular and increasingly valuable cryptocurrencies—in yet another Ethereum hack that hit the popular cryptocurrency investment platform, Enigma . According to an announcement made on their official website an hour ago, an "unknown entity" has managed to hack their website, slack account and email newsletter accounts, and uploaded a fake pre-sale page with a fake ETH address to send money. The hackers also spammed their fake address in Enigma's newsletter and slack accounts for pre-sale coins, tricking victims to send their cryptocurrencies to hacker's address. Etherscan, a popular search engine for the Ethereum Blockchain that allows users to look up, confirm and validate transactions easily, has already flagged the address as compromised, but people are still sending ETH to the fake address (given below). 0x29d7d1dd5b6f9c864d9db560d72a247c178ae86...