Hackers be hacking exchanges, contracts and all sorts. We highlight in this case-study what hacking did to StartCOINs price chart on the Bittrex Exchange.ย
StartCOIN / StartJOIN Hack
StartJOIN, a crypto-crowdfunding platform designed with StartCOIN as its primary funding currency, was hacked on May 30, 2016, and about 2.8 million START were stolen and appears to have then been sold to the market on the Bittrex Exchange - causing the price to fall from 4285 to 1244 satoshis - look a that size of this candle - record setting volume also.ย
The Hacker also compromised some of the social media and communication accounts; with the most aggressive slang being delivered via StartCOINs twitter account.ย
Reports suggested that the site was trying to restore operations and an investigation was started to find out more about the attack. StartJOIN has made it their top priority to make the users account secure for them to use. The platform continues to operate with limited functionality, whilst StartCOIN Holdings work on the release of its version 2.0 of their site. #V2
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The hack itself has been added to the list of, The Most Nefarious Hacks This Year - and its becoming a long list. But the community, the coin, and platformย continueย to push forward and is still here - perhaps the hack may even prove to be an unwelcome highlight in the years end.ย
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Disclaimer
The writer invests in FINTECH & ALTCOINS at their own risk. Trading and Investing can be highly risky and you should seek the advice of a trained professional. PRICEACTION OF CRYPS, accepts no liability for losses that may be incurred as a result of anything written in its Analysis Report and anything written on this website.