ID:
payfair-568
100 pts
Platform:
Type:
Category:
Method:
Data Sources:
Protocol
Key Management
Extended Method:
Private key leak, cold wallet
Days in Operation:
0
100 pts each
The PayFair project, an Ethereum-based startup that has been around for about three years, closed its site temporarily due to a compromised private key on its chief cold wallet. The funds were moved from the hacked wallet into a still unrevealed new cold storage. PayFair disclosed that the attack happened this September 29, as a result of hacking activity against its escrow platform. The exact way that the private key was compromised is yet unknown. The team’s explanation is that hacks are becoming more sophisticated.
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