Cyberattack leaves Electroneum holders unable to access wallets

DDoS attack leaves Electroneum investors unable to access their wallets
  • Electroneum, a UK digital-currency startup that recently raised USD 40 million in their ICO, has been struck by a DDoS attack which has left investors unable to access funds in their wallets.
  • Electroneum is set to be a cryptocurrency that anyone can mine with just their smartphone. Their website and mobile mining app were scheduled to be released on Novermber 2nd, but the attack has forced them to delay the launch.
  • Some 140,000 token holders have had their funds frozen as they await the restoration of the network.
  • According the Telegraph, the company apologized for the chaos, stating: “We are working as hard as is humanly possible to complete the works and get everyone live so we can get on with the next (exciting) stage of the evolution of Electroneum.”
  • Many investors have taken to social media to vent their frustration, with one questioning: “Why didn’t they do all this testing before the launch?”
  • The UK’s Financial Conduct Authority has consistently underscored the fact that ICOs are unregulated crowdfunding sales and investors should be prepared to lose the entirety of their investment.
  • Electroneum’s CEO had not yet issued any official statement regarding the delay.

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