Trade.io Hacked, Loses 50 Million Tokens Worth $7.5 million

[silversurfer]

In a Medium blog post, Jim Preissler, the CEO of the trade.io cryptocurrency exchange, disclosed a security breach which allows hackers to steal roughly 50 million trade tokens (TIO) worth $7,5 million from a cold storage wallet owned by the company, as first reported by ZDNet.

What makes this hack very puzzling is the fact that, although Preissler says the bank safety deposit box which stored the cold storage devices was not compromised, the hackers still managed to get away with 50M TIO.
"We use industry recommended cold storage which are maintained in safety deposit boxes in banks, along with all corresponding materials. We have confirmed that the safety deposit boxes were not compromised," said Preissler.

Source: https://news.softpedia.com/news/trade-io...3360.shtml