Taylor (TAY) Team Reported Funds Stolen

Taylor  team (TAY token) reported on May,22 in it’s blog on Medium, that the project have been hacked. And all of their funds have been stolen. All – including balance in ETH (2,578.98 ETH) and also team tokens and bounty (tokens from the Team and Bounty pools). The only tokens that are not stolen the ones from the Founders’ and Advisors’ pools. The reason: “because there’s a vesting contract making them inaccessible for now”.

Taylor is an easy to use all-in-one app that monitors the cryptocurrency markets, notifies with potentially profitable trades several times a day and let user trade effortlessly. And it’s founder  and CTO Thiago Régis said many times – the team is not a team of one application!

Taylor token sale was held from February 21, 2018 (14:00:00 UTC) to March 20, 2018 (23:59:59 UTC) with total supply: 10,000,000 (ten million) tokens and price: 1 TAY = 0.0007 ETH. With Bonus and on Ethereum platform. Token distribution: Private and Public Sale 76%, Founders 10%, Team & Advisors 7%, Referral and Bounty 7%.

And now Taylor team entitled the 22th of May – “a dark day for Taylor”.

But most of Taylor community in Taylor Telegram Group called it a scam. There are some reasons for such suspicion. According to the Roadmap and project blog it was announced new development update, including Beta launch, free to use. But on the 17th of May they announced only updates about new design and some details in setup and API.

Taylor still counts on community support. But confesses at the same time that it will not recover the stolen funds. And announces:  “Strong community is now the most important assets a company”. That sounds really tragic. Most optimistic fragment of the post  is “We are not going anywhere!”

Some steps to investigate the hackers attack was made already anyway. And it’s found that CypheriumChain, “fastest mineable blockchain with multi-level governance”, was hacked earlier in the same way on March, with more than 17,000 ETH stolen.

The cases of fraud in the cryptocurrency space are increasing day by day. Someone says that 4 of 5 ICO’s are scam. And that bitcoin is the largest scam. This is kind of conspiracy theory for sure. But it is known that Ethereum-based start-up by the name of Prodeum scammed its investors  on January (for $11 only – to say truth).

And hackers are not sleeping of course.  Crypto guru, angel and investor Ian Balina was hacked for $2 mln with simple phishing on April the 16th. MyEtherWallet DNS Hijacked on April 24th with $150,000 worth of ETH stolen.

Take care of your coins!

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