The developer of Taylor, cryptocurrency trading app, reported a security breach recently. The security breach occurred on May 22, 2018. Hence, the development team of Taylor has stopped the launch of the trading app which was initially planned for this month.
Cybercriminals have stolen around $1.35 million worth of Ether from the company’s wallets. This money was collected by the company through an Initial Coin Offering (ICO) round.
The company is investigating the security breach, but it believes that the criminal is the same hacker who supposedly hacked CypheriumChain and stole more than 17,000 ETH. It is speculated that this could be an exit scam.
According to the security experts, the cybercriminal stole money from multiple companies and moved it into a wallet used as an aggregator. The criminal then transferred the money to the same wallet which was involved in the CypheriumChain hack in March 2018.
As per the experts, the attacker was able to access one of the company devices. The hacker then gained the access to one of the 1Password files.
ALSO READ: Delete and Prevent Karne Ransomware Completely
“Today, when we arrived at the company office, we found that we have been hacked and all of our money has been stolen. We not only lost the balance in ETH (2,578.98 ETH) but also the TAY tokens (more than 7% of the total supply) from the Team and Bounty pools. Only the funds from the Founders’ and Advisors’ pools were not stolen as there’s a vesting contract making them inaccessible for now”, the announcement made by the company on Medium.
According to the company, TAY tokens could be soon traded for other cryptocurrencies. For this reason, the company asked the IDEX platform to suspend the trading of the TAY tokens temporarily, in an attempt to block the hacker.
ALSO READ: Remove SACRIF SETUP Adware Easily From Computer (UPDATED GUIDE)
Tips to Prevent virus and malware from Infecting Your System:
- Enable your popup blocker: Pop-ups and ads on the websites are the most adoptable tactic used by cybercriminals or developers with the core intention to spread malicious programs.
So, avoid clicking uncertain sites, software offers, pop-ups etc. and Install a powerful ad- blocker for Chrome, Mozilla, and IE
- Keep your Windows Updated: To avoid such infections, we recommend that you should always keep your system updated through automatic windows update.By doing this you can keep your device free from virus.According to the survey, outdated/older versions of Windows operating system are an easy target.
- Third-party installation: Try to avoid freeware download websites as they usually install bundled of software with any installer or stub file.
- Regular Backup: Regular and periodical backup helps you to keep your data safe in case the system is infected by any kind of virus or any other infection.Thus always backup important files regularly on a cloud drive or an external hard drive.
- Always have an Anti-Virus: Precaution is better than cure. We recommend that you install an antivirus like ITL Total Security or a good Malware Removal Tool like Download Virus RemovalTool
