Trade Token TIO

$0.0843
Market Cap $ 7.579 MM (#1248)
24h Volume $ 0.000
Chg. 24h: 0.00%
Algo. score 3.5/5  (#193)
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Trade Token News

Trade.io Acquires Primus Capital Markets to Offer BTC-Backed Forex Trading

Trade.io, a cryptocurrency exchange and investment company, has acquired British brokerage firm Primus Capital Markets Ltd for an undisclosed amount. The new subsidiary is to start trading foreign currency using digital assets as base currency under a new name, TIO Markets. Initially, customers will be able to make deposits and withdrawals in bitcoin core, ethereum, litecoin and tiox, the exchange’s own token, to trade on the forex platform. Also Read: Cryptogem Global Defies Zimbabwe’s Central Bank With New P2P Bitcoin Exchange Expansion Into Europe “The acquisition of Primus Capital Markets will allow the company the opportunity to aggressively expand into the U.K. and the European region,” Trade.io chief executive officer Jim Preissler said in an online statement on Nov. 8. Primus Capital Markets is registered with the autonomous U.K. financial regulator the Financial Conduct Authority (FCA). The firm holds the IFPRU 125k matched principal license, which allows it to deal in investments as principal, with some degree of stringent capital and governance requirements. Preissler stated: With an FCA regulated business, it provides management the opportunity to display to our clients we are striving for a higher standard and welcoming regulation instead of avoiding it. He spoke of the “similarities” that exist between cryptocurrency and forex trading and how “by marrying the two and offering it under one of the most respected regulatory regimes in the world, makes for the perfect acquisition.” Brokers Squeezed European brokers have in recent months faced a difficult time after the introduction of new rules under the Markets in Financial Instruments Directive (Mifid). In the U.K., for example, commissions paid to brokers fell 28 percent during the first quarter of this year compared to the same period a year earlier, and by 30 percent across Europe, according to a report by the Financial Times. Commenting on the deal, Damian McDowell, managing director of Primus Capital Markets, said: Primus Capital Markets has extensive experience in the foreign currency industry and (we have) built a significant database of traders that will benefit from this relationship. This was a natural fit for both firms. McDowell sits on the Trade.io board and advised on the company’s $30 million initial coin offering earlier this year. Trade.io is a Hong Kong-registered company that offers investors the option to trade cryptocurrency through an exchange. It also provides initial coin offerings advisory as well as digital currency-related investments. What do you think about this deal? Let us know in the comments section below. Images courtesy of Shutterstock. The Bitcoin universe is vast. So is Bitcoin.com. Check ourWiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page The post Trade.io Acquires Primus Capital Markets to Offer BTC-Backed Forex Trading appeared first on Bitcoin News.

a month ago

Trade.io to Launch BTC-Backed Forex Trading After Acquiring Primus Capital Markets

The cryptocurrency exchange and investment company Trade.io recently acquired British brokerage firm Primus Capital Markets Ltd as part of its plan to launch a crypto-backed forex trading market. The new subsidiary is called TIO Markets, and customers will be able to make deposits using BTC, ETH, LTC, and the native TIOX token, which can then be used to trade on the forex platform. Primus Capital Markets is registered with the Financial Conduct Authority (FCA), the U.K.’s financial regulator, which grants Trade.io legal access to operate in the U.K. market. (JF)

a month ago

Get ready for TIO Markets! As of recently, we have entered i...

Get ready for TIO Markets! As of recently, we have entered into an agreement to acquire FCA regulated Primus Capita… https://t.co/GfkT9JgAQx

a month ago

@nima_yahya2 Hi there, if your TIO is already in the ...

@nima_yahya2 Hi there, if your TIO is already in the https://t.co/khRotqa8a7 Exchange, this would have updated auto… https://t.co/kHdcTlUmCS

a month ago

TIOx is now trading exclusively on the ...

TIOx is now trading exclusively on the https://t.co/khRotqa8a7 Exchange. TIOx replaces TIO as the token that lets y… https://t.co/Emr6RUPYrO

a month ago

Security breach Involving TIO Token Effectively Contained by trade.io

CoinSpeaker Security breach Involving TIO Token Effectively Contained by trade.io Following a security breach, trade.io, has announced the forking of its TIO tokens to protect holders. The 1:1 fork will replace existing TIO tokens with TIOx, a new token retaining the same functions as the old one. The fork will further contain the breach, ensuring that the integrity of the token ecosystem cannot be compromised or contaminated. Recently, trade.io has announced the formation of a world-class cybersecurity unit lead by a team of security experts to monitor and counter threats. On the 20th of October, 2018, the team was alerted to the usual movement of tokens from a wallet reserved for the platform’s liquidity pool. 50 million TIO tokens held in the wallet was transferred to external exchanges, setting off abnormal trades. The exchanges were immediately contacted to disable the depositing, withdrawal, and trading of TIO tokens, while the team launched an investigation into the source of the breach and its reach. TIO trading on all affected exchanges was immediately stopped, quarantining the situation and preventing it from deteriorating. Working with the management team, exchanges including KuCoin and Bancor have assisted trade.io in identifying the transactions associated with the breach and isolating them. Preliminary investigation by the trade.io security team revealed that at no point was the liquidity pool or exchange affected or accessed by the breach. They also found no hint of internal collusion in the breach. Rather, the issue emanated from a particular hardware wallet acquired directly from the manufacturer. No customer account was directly affected by the breach, nor were any funds lost. trade.io management reiterated its commitment to resolving the situation, saying: “We are actively taking steps to further lock down the situation, and prevent any other potential impact.” The management also thanked its community for their support and understanding, saying: “While this security breach has been an inconvenience, we are happy to report again that no client assets were lost and we’re pleased with how efficient and responsive our entire team acted following the breach. We’ve been overwhelmed with the positive response from our clients which we affectionately call TIOnauts, and can’t thank them enough for their support and well wishes as we continue this special movement.” To further contain the breach and ensure that the token ecosystem cannot be tainted by any compromised TIO tokens, trade.io Management has announced the 1:1 fork of existing TIO tokens. The new tokens, called Trade Token X, or TIOx, will also be an ERC20 token with the same functions and utility as TIO. Details of the fork are expected to be released soon. Security breach Involving TIO Token Effectively Contained by trade.io

a month ago

Breach of Cold Storage Wallet Effectively Handled by Trade.Io

Trade.io recently managed a breach of funds, with no customer funds thankfully unaccounted for. Further steps have been taken to beef up security all around as well as a fork of the TIO Token. Breach Details Crypto Exchange Trade.io was notified of a transaction origination from their wallet, which held 50,000,000 tokens Trade Tokens (TIO) reserved for their liquidity pool. While shortly after, deposits and withdrawals were disabled on the exchange, other exchanges listing the token begin to notice abnormal trading occurring. Shortly after, the external exchanges listing the TIO token experienced abnormal trading within their respective markets. Deposits and withdrawals of TIO were immediately disabled to prevent loss of customer funds, as well as to prevent hackers from getting away with the tokens. While the team’s accounts were affected, no customer accounts were directly affected or funds lost. While further investigations are occurring, no evidence of internal actors stealing has been found. The silver lining is that the vulnerability doesn’t seem to be a technical problem of the cold storage unit itself, and the trade.io systems remain secure and unbreached as well. The problem was isolated to a single hardware wallet purchased directly from the manufacturer, suggesting either a vulnerability in the model or in that particular product sold to Trade.io. Exchange KuCoin and Bancor have been working alongside the Trade.io management team in anyway that they can, assisting them in quarantining any transactions that may be associated with the malicious entity. Trade.io Moving Forward While the exchange has taken holistic steps to increasing security all around to make a similar incident in the future from happening, Trade has also announced a fork of the token. The TIO ERC20 token will be forked to TIOx, or Trade Token X. Similar to TIO, the new token will also be an ERC-20 token on the Ethereum network. Further details of the fork and details of the new coin were released October 25th on their website. Tokens held on the exchange were automatically swapped without any intervention required from the user, with enabled deposits/withdrawals and Liquidity Pool allocations/removals enabled again by 17:00 EST on October 25th. For those holding their tokens on MEW or another ERC-20 compatible wallet before a blockchain snapshot taken October 21st on 15:00 EST, the following instructions will allow users to see their TIOx: A) Add custom token B) Add TIOx contract address which is: 0xd947b0ceab2a8885866b9a04a06ae99de852a3d4 C) Add symbol: TIOx and/or name which is Trade Token X Other exchanges have their own unique process and their instructions can also be seen on the blog post. Trade.io’s website can be visited here. To talk with the community and team, make sure to hop into their Telegram channel to discuss all things Trade.io related. For social media updates, make sure to follow their accounts on Twitter and Facebook, so you don’t miss a beat. To learn more about the team behind the project, make sure to check out Trade.io’s LinkedIn. This is a sponsored article and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research. The post Breach of Cold Storage Wallet Effectively Handled by Trade.Io appeared first on NullTX.

a month ago

Trade.io Promptly Responds to Cold Storage Wallet Breach and Protects Its TIO Clients

On October 20, 2018, an alarm was raised when a movement of 50 million trade token (TIO) worth $11.5 million was initiated from the trade.io cold wallet. This fund was supposed to be reserved funds for liquidity purposes in order to maintain transactions on the exchange. The activity of the breach was discovered by trade.io security experts who were monitoring TIO transactions. This transaction was thought to have emanated from an external exchange and was curtailed by sending an alert to all exchanges trading the TIO to disable the deposit and withdrawal of the TIO asset. After a thorough assessment, the security experts on the trade.io team discovered that a particular hardware wallet that was purchased directly from the manufacturer was the source of the problem. However, due to the prompt response of the security team, the breach was contained and both the trade.io exchange and the liquidity pool remained unaffected by the breach. So, all customers’ funds were reported safe and untampered with. Furthermore, the nature of the breach showed no foul play from within the company and thus internal security remains intact. A decision to fork the TIO token followed from management’s efforts to further protect users’ funds and close any potential breach that may result from the previous attempt. The new fork of TIO will bear the name Trade Token X with ticker TIOx. Apart from the fact that it will remain an ERC-20 token as the parent chain, a snapshot of TIO token holders’ MEW wallet was taken on 21 October @ 15:00 EST to enable an airdrop of the newly forked TIOx token. Token holders who are unable to view the new token in their wallet have been advised to update the wallet manually by entering the details of the contract address thus: Contract address: 0xd947b0ceab2a8885866b9a04a06ae99de852a3d4 Token Symbol: TIOx Other exchanges have shown their support to remedy the situation as quickly as possible. KuCoin and Bancor came to the aid of trade.io in order to facilitate the investigation and quarantine the source of the breach and its associated transactions. Further actions are being taken to ensure that no other potential impact is incurred. More so, as part of the effort of these exchanges, airdropping the new TIOx tokens to TIO holders on KuCoin exchange is being handled. As for other exchanges, TIO token holders are to contact tioxclaims@trade.io for further instructions. Trade.io have intimated that trading of TIOx will commence on 31 October 2018, and will only be carried out on trade.io The management team expressed their gratitude to the support community and clients who showed positive response with regards to the incidence. Learn more by visiting trade.io website: https://trade.io/ Chat on Telegram: https://t.me/TradeToken Twitter: https://twitter.com/tradetoken?lang=en The post Trade.io Promptly Responds to Cold Storage Wallet Breach and Protects Its TIO Clients appeared first on BitcoinNews.com.

a month ago

Hackers Steal 50 Mln Coins from Trade.io — “Next-Gen Financial Institution”

50 mln TIO coins stolen from the company’s cold wallet

a month ago

Forbes Crypto Market Data Website Launches

American business magazine Forbes launched the beta version of its cryptocurrency data website on Wednesday, looking to give investors an in-depth look into markets, tokens, and blockchain projects. Forbes CryptoMarkets says it will attempt to bring “real-time pricing and volume information on several thousand cryptocurrencies and an initial five cryptocurrency indices worldwide,” right now just in English, but adding Chinese, Japanese, French, Vietnamese, Russian and Korean language options in the future. The crypto portal will also offer a live feed of related news from a number of media outlets alongside its own editorial submissions from Forbes’ contributors. Additional deep-dives into coins, exchanges, trading volumes and other aspects of the market will also be offered. CEO of Forbes Media, Mike Federle, said that the CryptoMarket ”represents a natural extension of our powerful brand into a new venture that promises to deliver immense value to investors, traders and market watchers.” As a well established and internationally respected news outlet, Forbes’ commitment to the cryptocurrency industry through this project is sure to benefit its perceived legitimacy among readers. Behind the website According to Forbes, its new crypto feature comes as the result of a collaboration with investment firm NewCity Capital and Swiss blockchain company Trade.io. The latter hit the headlines Sunday after a platform hack resulted in the loss of 50 million native TIO tokens, valued at USD11 million at the time of the incident. A blog entry posted Tuesday reads that the security breach was ”effectively contained,”with Trade.io forking the token Wednesday night, replacing it with TIOx. Whether the security breach will severely damage the reputation of the company in the long term, or to what effect this will have on Forbes CryptoMarket, is yet to be seen. While the original token was listed on multiple exchange sites, TIOx will be exclusive to the trade.io exchange. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post Forbes Crypto Market Data Website Launches appeared first on BitcoinNews.com.

a month ago

PR: trade.io Effectively Contains Breach of Cold Storage Wallet and Protects TIO Holders

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. The trade.io security team was alerted to a large transaction originating from our wallet holding 50M Trade Tokens (TIO) owned by trade.io reserved for the liquidity pool. Immediately following the alert, our trade monitoring observed abnormal trading of TIO on external exchanges. These exchanges were immediately alerted to disable deposits/withdrawals and trading of TIO, and our security team began its investigation. The responsiveness by the various teams within trade.io prevented the situation from deteriorating and helped quarantine the issue. At no point was the trade.io exchange or liquidity pool accessed or affected, and both remain operational. The breach was limited to one particular hardware wallet that was purchased directly from the manufacturer. Consequently, no customer accounts were directly affected, or customer funds lost. Investigations are ongoing, but have so far concluded that there was no technical hack on the cold storage unit, and trade.io systems remain secure and unbreached. There is also nothing to indicate theft by internal actors. Along with the management team, both KuCoin and Bancor responded promptly and are assisting trade.io in our investigation and have taken steps to quarantine the associated transactions. We are actively taking steps to further lock down the situation, and prevent any other potential impact. As a result of the incident, trade.io Management has decided to fork TIO. The name of the forked token will be Trade Token X with the ticker TIOx, similar to TIO it will be an ERC-20 token. Details of the fork are expected to be released soon. Lastly, while this security breach has been an inconvenience, we are happy to report again that no client assets were lost and we’re pleased with how efficient and responsive our entire team acted following the breach. We’ve been overwhelmed with the positive response from our clients which we affectionately call TIOnauts, and can’t thank them enough for their support and well wishes as we continue this special movement. Contact Email Address marilia.kountouridou@trade.io Supporting Link https://trade.io/ This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post PR: trade.io Effectively Contains Breach of Cold Storage Wallet and Protects TIO Holders appeared first on Bitcoin News.

2 months ago

Trade.io (TIO) Announces Plan to Hard Fork After 50 Million Token Hack

As was reported yesterday, the Switzerland based cryptocurrency exchange trade.io recently suffered a hack of a cold storage wallet that saw 50 million of its native TIO token stolen, with some being exchanged on the open market. Today the exchange has announced plans to hard fork the exchange’s TIO token into the Trade Token X (TIOx), which will trade exclusively on the trade.io exchange. The fork is scheduled to take place on October 24th at which point TIOx tokens will be airdropped to wallets holding TIO tokens, and the TIOx tokens will be available to trade on October 31st. (JF)

2 months ago

Trade.io Suffers a Rare Cold Wallet Hack as it Loses $7.8 Million U.S. Dollars

Unfortunately, hacks have been pretty common with cryptocurrency exchanges across the globe. But what Trade.io, a lesser-known Switzerland-based cryptocurrency platform, suffered was a rare attack as it affected the exchanges cold wallet. Was it a security breach or was it an inside job? The mystery continuous According to the post released on the exchanges Medium blog, the exchange’s security team was alerted to a suspicious transaction involving an exchange-owned wallet. The wallet in question, which was reportedly kept under lock and key in cold storage, held TIO tokens, Trade.io’s native digital asset. Upon initial investigation, The Swiss Exchange quickly realized some irregular trading activity TIO trading pairs on Bancor and Kucoin, two prominent crypto asset platforms, alerted both Bancor & Kucoin accordingly to disable any deposits & withdrawals, and did the same on trade.io. As TIO transfers ground down to a halt on Kucoin, Bancor, and Trade.io, the exchange’s cybersecurity experts found that 50 million TIO, worth ~$7.8 million U.S. dollars, had been accessed by an authorized user. To address this security breach, TIO trading was halted on Trade.io until further notice, the altcoin has been delisted by Bancor, and Kucoin has paused deposits and withdrawals until a post-mortem on this unfortunate occurrence is compiled and can be released to the public. Although various hacks previously have affected exchanges like Bithumb, CoinCheck, and Zaif (most recently), many pointed out that the hack of a cold storage wallet was something unprecedented. According to Trade.io, it was following proper cold storage protocol to a “T”, reportedly placing its hardware wallets in bank-secured safety deposit boxes, “along with all corresponding materials.” Due to the latter part of that statement, some believed that this hack could only be chalked up to an inside job. But, the exchange had apparently confirmed that the security deposit boxes were not compromised in any way, leaving the case an open-ended mystery. As future steps, Trade.io has sought to render the stolen TIO useless, with an announcement indicating that the exchange’s top brass, which includes CEO Jim Preissler, have decided to fork the original altcoin into TIOx, hopefully mitigating the impact that the hack will have on the exchange’s ecosystem. Quoting Preissler from the post, “To this end, we are currently considering various options with one being a fork, with the objective of making the 50M that were taken from us worthless, but protecting the value of TIO for everyone else, as the 50M are traceable. We will advise on our decision in the next 24 hours following a meeting by our board. Lastly, please be assured, that those participating in the Liquidity Pool, distributions will be completely uninterrupted, and ability to enter and leave the Liquidity Pool will continue as normal.” Whether this is an inside job or an external security breach, an attack on cold wallet definitely shows that the hackers to are maturing. One will have to update their security standards to take care of these cold wallet attacks as well Are Cold wallets no more safe enough as they were considered to be? Do let us know your views on the same. The post Trade.io Suffers a Rare Cold Wallet Hack as it Loses $7.8 Million U.S. Dollars appeared first on Coingape.

2 months ago

trade.io Effectively Contains Breach of Cold Storage Wallet and Protects TIO Holders

At 08:40 EST 20 October 2018, the trade.io security team was alerted to a large transaction originating from our wallet holding 50M Trade Tokens (TIO) owned by trade.io reserved for the liquidity pool. Immediately following the alert, our trade monitoring observed abnormal trading of TIO on external exchanges. These exchanges were immediately alerted to disable deposits/withdrawals and trading of TIO, and our security team began its investigation. The responsiveness by the various teams within trade.io prevented the situation from deteriorating and helped quarantine the issue. At no point was the trade.io exchange or liquidity pool accessed or affected, and both remain operational. The breach was limited to one particular hardware wallet that was purchased directly from the manufacturer. Consequently, no customer accounts were directly affected, or customer funds lost. Investigations are ongoing, but have so far concluded that there was no technical hack on the cold storage unit, and trade.io systems remain secure and unbreached. There is also nothing to indicate theft by internal actors. Along with the management team, both KuCoin and Bancor responded promptly and are assisting trade.io in our investigation and have taken steps to quarantine the associated transactions. We are actively taking steps to further lock down the situation, and prevent any other potential impact. As a result of the incident, trade.io Management has decided to fork TIO. The name of the forked token will be Trade Token X with the ticker TIOx, similar to TIO it will be an ERC-20 token. Details of the fork are expected to be released soon. Lastly, while this security breach has been an inconvenience, we are happy to report again that no client assets were lost and we’re pleased with how efficient and responsive our entire team acted following the breach. We’ve been overwhelmed with the positive response from our clients which we affectionately call TIOnauts, and can’t thank them enough for their support and well wishes as we continue this special movement. The post trade.io Effectively Contains Breach of Cold Storage Wallet and Protects TIO Holders appeared first on Live Bitcoin News.

2 months ago

Official Announcement: trade.io Contains Breach of Cold Storage Hardware Wallet, Protecting TIO Holders

Immediately following the alert, our trade monitoring observed abnormal trading of TIO on external exchanges. These exchanges were immediately alerted to disable deposits/withdrawals and trading of TIO, and our security team began its investigation. The responsiveness by the various teams within trade.io prevented the situation from deteriorating and helped quarantine the issue. At no point was the trade.io exchange or liquidity pool accessed or affected, and both remain operational. The breach was limited to one particular hardware wallet that was purchased directly from the manufacturer. Consequently, no customer accounts were directly affected, or customer funds lost. Investigations are ongoing, but have so far concluded that there was no technical hack on the cold storage unit, and trade.io systems remain secure and unbreached. There is also nothing to indicate theft by internal actors. Along with the management team, both KuCoin and Bancor responded promptly and are assisting trade.io in our investigation and have taken steps to quarantine the associated transactions. We are actively taking steps to further lock down the situation, and prevent any other potential impact. As a result of the incident, trade.io Management has decided to fork TIO. The name of the forked token will be Trade Token X with the ticker TIOx, similar to TIO it will be an ERC-20 token. Details of the fork are expected to be released soon. Lastly, while this security breach has been an inconvenience, we are happy to report again that no client assets were lost and we’re pleased with how efficient and responsive our entire team acted following the breach. We’ve been overwhelmed with the positive response from our clients which we affectionately call TIOnauts and can’t thank them enough for their support and well wishes as we continue this special movement. The post Official Announcement: trade.io Contains Breach of Cold Storage Hardware Wallet, Protecting TIO Holders appeared first on CoinSpeaker.

2 months ago

Trade.io Exchange Hacked for $7.5M Worth of Tokens

Cryptocurrency exchange Trade.io lost $7.5M worth of their native Trade (TIO) token over the weekend, after it was found that a hacker was draining funds from their cold storage wallets. No users were affected as the funds taken were held by Trade.io.

2 months ago

Trade.io Crypto Exchange Reveals That a Hacker Stole 50 Million TIO Tokens

In a blog post released on Sunday, the lesser-known cryptocurrency exchange Trade.io revealed that it was recently the victim of a hack that saw an unauthorized user access 50 million of the platforms native TIO tokens, worth roughly $7.8 million, from a cold storage wallet. The hacker was exchanging the funds on the Kucoin and Bancor cryptocurrency exchanges and was able to exchange around 2.6 million tokens before security measures could be taken. Trade.io has halted TIO trading, Kucoin has temporarily halted deposits and withdraws and Bancor has delisted the token for the time being. (JF)

2 months ago

Forbes Launches Crypto Portal, Partner Trade.io Hacked for $7.5 Million in Crypto

Forbes Media today launched the beta version of it Forbes CryptoMarkets, in partnership with investment firm NewCity Capital and Trade.io, which suffered a hack that resulted in $7.5 million in cryptocurrency tokens being stolen from a cold storage wallet. Forbes Launches CryptoMarkets Data Portal for Tracking Crypto Prices Media powerhouse Forbes Media LLC, has unveiled a new cryptocurrency market and price data aggregation website, akin to CoinMarketCap. The new portal offers up-to-the-minute, comprehensive data on the top 200 cryptocurrencies by market cap. This includes trading volume data from 31 cryptocurrency exchanges, including Binance, Bitmex, and may other prominent names in the space. Forbes CryptoMarkets also includes content from interviews and articles from Forbes, as well as a “real-time newsfeed aggregating content from leading news organizations and companies.” Forbes will also leverage its unrivaled access to data to publish four different “CryptoMarket indices,” including the “Top Cryptocurrencies, Top 10 Global, Top 30 Global, and Top 10 Blockchain and dApps Global.” The initial offering of indices, Forbes says, are there to serve as an “informational tool” to demonstrate market trends, and will add more indices separated by “sector, industry, and cryptocurrency use-case” in the future. Forbes is launching the CryptoMarkets portal in a partnership that includes NewCity Digital Limited, investment firm NewCity Capital, and “next-generation financial institution based on blockchain technology,” Trade.io. Bad Timing: Forbes’ Partner Trade.io Hacked for $7.5 Million in Crypto Trade.io should be celebrating a successful high-level partnership with an American media mainstay like Forbes. However, the exchange and consultancy firm is currently licking its wounds after suffering an unusual theft of $7.5 million in cryptocurrency tokens. Trade.io confirmed via their Medium blog that a security breach had occurred, resulting in over 50 million in Trade (TIO) tokens being stolen from the firm’s cold storage wallets. The 50 million tokens are valued at $7.5 million at the current $0.15 price per TIO. The ongoing investigation has revealed that some of the TIO tokens had made their way to cryptocurrency exchanges Bancor and Kucoin, and the exchanges themselves are assisting Trade.io with the issue. What’s unusual is that the funds were stolen from the cryptocurrency exchange’s cold storage wallets, which are typically encrypted USB-devices or pieces of paper with private keys written down that the firm says it stored in safety deposit boxes - safety deposit boxes that the company says “were not compromised.” Regardless of where or how the tokens were stored, they somehow ended up in the clutches of hackers. Now the company is considering a fork of the TIO token codebase to render the stolen funds useless and preserve the price of the TIO token for other investors. The hack happened less than 24 hours before the publication went live with its announcement to launch the beta version of its CryptoMarkets product, in a partnership that involves Trade.io. Featured image from Shutterstock. The post Forbes Launches Crypto Portal, Partner Trade.io Hacked for $7.5 Million in Crypto appeared first on NewsBTC.

2 months ago

Trade.io Cold Storage Hacked, Loses $11 Million

Trade.io, a distributed wealth P2P shared liquidity pool exchange has lost 50 Million Trade Tokens (approx. $11 Million) in a hack. Trade.io has shut down deposits and withdrawals on its own platform and KuCoin. The Trade.io team claims that the funds disappeared from a cold wallet stored in safety deposit boxes in a bank. The team also confirmed that the safe deposit boxes were not compromised in any way. They're failed to give further explanation and are currently considering the option of conducting a fork. Trade Token (TIO) is priced at $0.15558, losing 14.64% in the last 24 hours. (VS)

2 months ago

$11 Million Stolen as Trade.io Cold Storage Was Hacked

A few hours ago, Trade.io, a distributed wealth P2P shared liquidity pool exchange, revealed that the exchange have suffered from a hack. This incident has resulted in the loss of around 50 Million TIO tokens that were stored on Trade.io’s cold storage wallet. At the time of the attack, the stolen coins were worth $11 Million. Following the incident, Trade.io has shut down the deposit and withdrawal of TIO from their platform and also from Kucoin. Not only were the funds stolen but after a further inquiry in the matter, Trade.io’s team noticed some irregularities in TIO pairs on Bancor and Kucoin. To avoid any further incident, both of these platforms have disabled the trade of TIO. Furthermore, TIO will not be listed on Bancor from now on, and TIO trading is also disabled on Trade.io exchange until further notice. The 50 Million TIO, that were maliciously withdrawn from the cold storage, were meant for the Liquidity Pool, and an estimated total 1.5M of the total amount was already transferred to Bancor and Kucoin. The investigation is ongoing, and both exchanges are assisting Trade.io to gather information. Trade.io has clarified that the hack occurred, despite their use of industry level of cold storage, which is then stored in safety deposit boxes in banks, along with all the corresponding materials. Trade.io also confirmed from the banks that the safe deposit boxes were not compromised in any way. A Hard fork to cure? To resolve this matter and protect their investors, Trade.io is considering the option of conducting a fork. This will make all the stolen tokens will become worthless. Trade.io has said that they will announce further action in the next 24 hours and that the participation in the Liquidity Pool will remain uninterrupted. Investors will be able to enter and leave the Liquidity Pool as per usual. The current attack on Trade.io is a depiction of how exchanges have become the focal point of the crypto industry. The competition is tough, and Trade.io has stated that “they will take strict action against the attackers and do their best to trace the stolen amount.” At the time of writing, the price of TIO had declined to $0.16. The following TIO chart can give clues about the time of the attack: TIO last 7 days. Marked is the possible decline following the attack. Source: Coinmarketcap The post $11 Million Stolen as Trade.io Cold Storage Was Hacked appeared first on CryptoPotato.

2 months ago

Important Notice: Please cease trading of TIO on HitBTC &am...

Important Notice: Please cease trading of TIO on HitBTC & https://t.co/QuZqjRRPDT. For the latest summary of whe… https://t.co/GfzOT6mtN8

2 months ago

IMPORTANT ANNOUNCEMENT: Please cease trading of TIO on HitBT...

IMPORTANT ANNOUNCEMENT: Please cease trading of TIO on HitBTC, https://t.co/QuZqjRRPDT and Bancor. Only trade TIO o… https://t.co/6pg4zyx7Oh

2 months ago

Learn how you can become eligible to earn extra ETH, BTC and...

Learn how you can become eligible to earn extra ETH, BTC and other crypto by locking your TIO into the liquidity po… https://t.co/5deRn6mZWJ

2 months ago


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