ICO and ETH Security – Problem Spreading

If you remember the events last week that exposed Insuresx and the ETH Security related to the coins contributed to their ICO, it caused their ICO to be halted. Not only were they hacked once, but they were hacked twice.

It seems they are not the only one. Just three hours ago Sphre, and their Air platform sent this message to their slack members:

“Following a recent hack on the Sphreco (AIR) smart contract, we urge you to check at your ETH balance (The safest way to do so is to use *https://myetherwallet.com#wallet-info?verify-token=AIR*)

We have been informed that many ETH holders have been affected by the hack attempt.

You will have more information as soon as possible when we will update our blog, but at this moment we urge you to check your Ethereum balance.

Failure to do so may result in loss of your AIR tokens.

Thank you for your cooperation and understanding.

Jake Vartanian, Sphreco.”

ICOs and the ETH Security Related to Them

With all the ICOs that have been starting, I am amazed that they haven’t figured out how to secure the ETH they have raised. This is an issue that must be resolved, or we lose the chance of contributor confidencde in general.