KICKICO has lost more than 70 million KICK tokens (or KickCoins) worth an estimated $7.7 million. Hackers managed to gain direct access to the smart contract of the project’s blockchain network by obtaining the private key. The stolen funds did not permanently destroy, and the total number of tokens in the network remained the same after the incident, enabling the thief to fly under the radar. This incident is the latest in a long list of attacks against the cryptocurrency markets. Barely two weeks ago, decentralized exchange platform Bancor suffered a $23.5 million loss due to a cyber-attack.
Source: https://thehackernews.com/2018/07/kickico-cryptocurrency.html