KICKICO announces grand competition, winners to get 2.5 million KICK
Blockchain-based crowdfunding platform KICKICO announced a grand competition on August 3, Friday. The prize fund for the winner is 2.5 million KICK.
In a Medium post, the company said the competition would have three rounds and a big final. The contest will start on August 8. KICKICO is keeping further details under wraps.
Read the announcement below:
“The KICKICO contest will consist of 3 rounds and Big Final. The winner takes it all! Almost 😉 Because we will have 22 of them! Apart from the winners of each round, we will also pick the most active ones who will compete for the great prize at the final round.”
KICKICO earlier on July 27 lost tokens worth $7.7 million.
KICKICO CEO Anti Danilevski had revealed the security breach in a Medium post. He stated the issue was under control and all KickCoins will be returned.
He claimed the hackers gained access to the account of a KICK smart contract – tokens of the KICKICO platform – on July 26 at 9.04 UTC. The team realized about the attack when they received several complaints from the victims who found tokens worth $800,000 missing in their wallets, Danilevski.
The ICO conducted a probe and found out that a total of 70 million KICK were stolen, which is equivalent to $7.7 million at the current exchange rate.
In the announcement, he said they fully restored control over the smart contract. KICKICO will return funds to the wallets of victims and asked them to reach out at firstname.lastname@example.org. The company assures to return all the tokens to KickCoin holders.
The post explains that hackers got access to the private key of the owner of the KickCoin smart contract and hid their results by “employing methods used by the KickCoin smart contract in integration with the Bancor network.”
“Hackers destroyed tokens at approximately 40 addresses and created tokens at the other 40 addresses in the corresponding amount. In result, the total number of tokens in the network has not changed. But thanks to the rapid response of our community and our coordinated teamwork, we were able to regain control over the tokens and prevent further possible losses by replacing the compromised private key with the private key of the cold storage.”
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