As a result of breaking of the Japanese Syndicate wallet stolen $10 million

Cryptocurrency wallet company’s Japanese Syndicate, which kept tokens of participants TokenGenerationEvent was hacked. The attackers were able to steal Ethereum, LevelUp, Orbs and ShopinTokens in the amount of $10 million.

Shopin, blockchain-service, offering the user certain websites and applications based on purchase history and preferences, has released the following statement:

«On Wednesday, may 30, 2018, Shopin issued a token to one of its leading partners in Japan, the Japanese Syndicate. A few days afterwards his wallet was hacked because cryptocurrency is not stored in a cold wallet or hardware. We are deeply saddened by this news and extend our sympathy to all Japanese members of the community Shopin that suffered from this attack».

«We were advised to keep funds by prima-block (third-party blockchain) that enables participants to combine their investments in intellectual contract that handles all the parameters and distribution, but was not heard – the head of the Japanese Syndicate decided to keep the tokens received in MyEtherWallet», – explained the head of Shopin Eran Eyal (Eyal Eran).

He insists that the leaders urged all participants of the transaction to exercise caution and use only cold storage.

«Despite the fact that from a legal point of view, the responsibility Shopin ended when the company moved tokens Japanese Syndicate, where they were successfully adopted, hurt our reputation and we will do everything to fix it,» said Eyal.

The company is investigating ways of abduction and even offered a ransom for refund or information about hacking methods.

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