On October 21, a crypto exchange Trade.io announced that on October 20, its security team was alerted to a large transaction from one of the wallets held in cold storage. As they investigated, they started noticing some irregular trading activity in TIO pairs on Bancor & Kucoin. The Trade.io team alerted both Bancor & Kucoin accordingly to disable any deposits & withdrawals, and did the same on trade.io. TIO Deposits & Withdrawals will be disabled on both Kucoin & Trade.io until further notice, and TIO will no longer be listed on Bancor.
While the investigation is ongoing, the Trade.io team confirms that the 50M TIO allocated for the Liquidity Pool being held in cold storage has been withdrawn, and 1.3M of that had been transferred to both Bancor & Kucoin respectively. Both exchanges are assisting trade.io in the investigation.
Trade.io says it uses industry recommended cold storage which are maintained in safety deposit boxes in banks, along with all corresponding materials. The team has confirmed that the safety deposit boxes were not compromised.
According to the announcement, the decision has been made to fork TIO. However, there is no timeline yet set, let alone a decision as to if it will remain an ERC-20 or will be housed on a different blockchain.
According to CoinMarketCap, TIO price is $0,153825 (-12,19%) at press time.