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Digital currency exchange Gatecoin offline after hack

Monday 16 May 2016 00:15 CET | News

Hong Kong-based digital currency exchange Gatecoin has reportedly experienced a hack, resulting in losses from its connected wallets.

CEO Aurélien Menant indicated that the exchange lost control of Bitcoin and Ether, the native token of the Ethereum network, during the incident.

Menant said that tokens tied to the DigixDAO project as well as the Augur and TheDAO projects were unaffected.

The hack comes amid the ongoing crowdsale for TheDAO, an initiative aimed at providing a funding mechanism for Ethereum projects.

Gatecoin has been facilitating the sale of tokens used to hold votes in the decentralized autonomous organization (DAO) through the use of IOUs, which according to materials on the exchange’s website would be swapped for tokens following the completion of the crowdsale.


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Keywords: Bitcoin, mining, cryptocurrency, digital currency, online payments, online security, online transactions
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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