trade.io Effectively Contains Breach of Cold Storage Wallet and Protects TIO Holders

Trade.io Press Release

Bitcoin Press Release: At 08:40 EST 20 October 2018, the trade.io security team was alerted to a large transaction originating from our wallet holding 50M Trade Tokens (TIO) owned by trade.io reserved for the liquidity pool. Immediately following the alert, our trade monitoring observed abnormal trading of TIO on external exchanges.

24th October, 2018. Lugano, Switzerland. These exchanges were immediately alerted to disable deposits/withdrawals and trading of TIO, and our security team began its investigation. The responsiveness by the various teams within trade.io prevented the situation from deteriorating and helped quarantine the issue.

Breach Contained

At no point was the trade.io exchange or liquidity pool accessed or affected, and both remain operational. The breach was limited to one particular hardware wallet that was purchased directly from the manufacturer. Consequently, no customer accounts were directly affected, or customer funds lost. Investigations are ongoing, but have so far concluded that there was no technical hack on the cold storage unit, and trade.io systems remain secure and unbreached. There is also nothing to indicate theft by internal actors.

Along with the management team, both KuCoin and Bancor responded promptly and are assisting trade.io in our investigation and have taken steps to quarantine the associated transactions.

We are actively taking steps to further lock down the situation, and prevent any other potential impact.

As a result of the incident, trade.io Management has decided to fork TIO. The name of the forked token will be Trade Token X with the ticker TIOx, similar to TIO it will be an ERC-20 token. Details of the fork are expected to be released soon.

Thanks to the Community
Lastly, while this security breach has been an inconvenience, we are happy to report again that no client assets were lost and we’re pleased with how efficient and responsive our entire team acted following the breach. We’ve been overwhelmed with the positive response from our clients which we affectionately call TIOnauts, and can’t thank them enough for their support and well wishes as we continue this special movement.

trade.io website: https://trade.io/
Chat on Telegram: https://t.me/TradeToken
Twitter: https://twitter.com/tradetoken?lang=en
Facebook: https://www.facebook.com/trade.io/?_rdc=2&_rdr
Meet the team: https://www.linkedin.com/company/trade-io/

Media Contact
Name: Marilia Kountouridou
Email: marketing@trade.io

trade.io is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

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Interest Mounts As GRAIN Announces ICO

Bitcoin press release – Innovative Blockchain solution for work agreements, GRAIN, using ethereum smart contracts to reinvent the way we work, manage and distribute payroll, is gearing up for a public token sale that will run run from 1st to 28th March. The ICO, is already attracting a lot of interest with 6,100 registering their interest at grain.io in the past two weeks alone.

January 31st, 2018, Lugano, Switzerland – GRAIN is unique in that it is the one of the first cryptocurrencies to be designed to meet the needs of employers and those that work for them. The difference with GRAIN is that it operates as a back office solution enabling work agreements to be placed on the Blockchain as Smart Contracts. These agreements contain all the details regarding the work, compensation, people involved and details concerning regulatory compliance.

Blockchain strategist for GRAIN, Erik Koster, explained the reasons behind GRAIN:

Grain has created an engine that allows labour contracts to be stored on the Blockchain meaning remuneration for that work can be made much more securely, fairly and transparently than is currently possible. Given the dynamic nature of today’s workforces, GRAIN believes that they have the potential to revolutionise the way people are paid in the future.’

Employers stand to benefit hugely. As a back office solution, GRAIN removes a lot of costs when it comes to running a business, especially those to third parties, such as payroll service providers. As the details regarding employees and their work status can be stored on the Blockchain, it also makes it much easier for businesses to demonstrate regulatory compliance with state bodies or tax authorities. There is the added advantage that GRAIN can facilitate cross-border payments without processing fees or FX charges.

Once the job is complete, the worker is paid in GRAIN in a fair, timely manner. This can then be automatically exchanged to the currency of worker’s choice. Users of the ecosystem also benefit from Harvest, a type of savings account that stores the profit generated by the Blockchain. Workers can choose to keep some of their earnings in the Harvest fund, for instance, to act as a pension fund.

To mitigate risk, GRAIN comes with a liquidity insurance mechanism to guarantee that the employer isn’t affected by fluctuations due to volatility in the cryptocurrency markets.

The Team
The team behind GRAIN are working hard to make sure that the engine is readily adopted by other teams when it comes to developing new tools and applications, so that GRAIN can be easily implemented by as many partners as possible. In fact, right now, the team at Flexentral are beta testing the GRAIN infrastructure for their own applications.

The Token Sale
There are 1,080,000,000 tokens in the GRAIN ICO, valued at €0.027 each, payable in ETH or BTC. The ETH/BTC price will be determined the day before the ICO begins. The minimum investment is 0.1 ETH. Prospective investors can register their interest at the Grain website.

About GRAIN
GRAIN is founded by its President and CEO Onno Hektor; a former senior executive for Microsoft, and board member André Bonvanie; a serial entrepreneur. They have recruited a highly experienced team of cryptocurrency professionals and advisors to ensure the success of the platform.

Introducing Grain:

How transactions work: https://www.youtube.com/watch?v=Vm4vYO56-ZY
Interview with the founders: https://www.youtube.com/watch?v=ro0DmPPrA-4&;
Interview about the roadmap: https://www.youtube.com/watch?v=ND6ijtegHhE

Media Contact

Name: Lucas Huizinga
Location: Lugano, Switzerland
Email: pr@grain.io

Visit the Grain website: https://grain.io/
Read the whitepaper: https://grain.io/whitepaper
Join Grain on BitcoinTalk: https://bitcointalk.org/index.php?topic=2766557.0
Chat with Grain on Telegram: https://t.me/joinchat/IAWYn0jj2m02434fbd73Tg
Subscribe on YouTube: https://www.youtube.com/channel/UCGSjeO28gA7EhtLjpJ8vldA
LinkedIn: https://www.linkedin.com/in/onnohektor/
Follow Grain on Twitter: https://twitter.com/Grain_io
Join Grain on Facebook: https://www.facebook.com/grain.io/
Chat with Grain on Discord: https://discordapp.com/invite/KryGjFv

Grain is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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