$1.35M stolen in hack of Taylor cryptocurrency startup

DUNCAN RILEY | May 28, 2018

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A cryptocurrency trading assistant startup that recently completed an initial coin offering has been hacked, with around $1.35 million in Ethereum tokens stolen.The hack targeted a company called Taylor that raised Ethereum in a recent ICO in return for 10 million “TAY” tokens that would be the core of a cryptocurrency trading platform.That platform was pitched as a way for “people to earn small profits many times a day, every day,” sort of a take on day trading software but for cryptocurrencies. The platform is said to monitor major exchanges and performs technical analysis to find investment opportunities, signaling users to a potentially profitable trade and then automating the buy and sell process.

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