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ID:

payfair-568

Date:

Status:

Incident Count:

September 29, 2019

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

-

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Protocol

Key Management

Extended Method:

Private key leak, cold wallet

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Days in Operation:

0

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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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