ICO Finishes Week in a Roundabout and Hilarious Way

The crypto world has found the last week very hilarious for multiple ICO events which don’t end in, and out of themselves. Let’s take a quick recap.

On June 4, a hacker has reportedly deposited a rather “unfeasibly large” quantities of HADE Tokens to IDEX and Forkdelta, withdrawing 26.5 Ethereums (ETH) afterward. The hacker was able to do so by taking advantage of a vulnerability in the transfer code of the said token.

Following the exploitation of HADE Token’s vulnerability in its transfer code, Blockbroker, which set out to prevent ICO scams, did what it swore it would prevent by doing an exit scam. The world has yet to confirm whether it was an intended joke or an inevitable irony as unanticipated by the backers of the said project. As if this was not ridiculous enough, Jay Clayton, chairman of the Securities and Exchange Commission, remarked of ICOs smuggling “bags of cash” to the US.

June 6 wasn’t very sunny either since one token distributor from the Shopin ICO has reportedly lost $10 mln when its crypto wallet was hacked. Additionally, another ICO Telegram channel was caught selling pooled tokens for shady projects that it doesn’t have an allocation for.

The next day, another ICO sent news.Bitcoin.com an email attempting to gain publicity regarding Apple allegedly stealing its logo. Apple obviously did not. As if the world has not had enough ICO jokes for the week, another writer named Nomadic Matt releases history’s first book ICO.

Friday was as gloomy as the other days, for another popular ICO named Fantom had its Telegram channel thieved by a hacker. After some time, the administrators of the channel took back the stolen channel. Elsewhere, an ICO competition which lasted two days concluded with Pigzbe receiving $600k worth in investments, thereby getting listed into the top three exchanges.

June 9 was historic and seemed to be the only day in the uneventful week which could have made everyone sigh in relief, as EOS finally got a ‘go’ signal to be launched into the mainnet. However, there seemed to be a shortage of tokens which are required for staking, requiring the project to make another 19,000 to push through with the launching.

The week ends in a roundabout way on June 10, as more shady deposits were made in IDEX. Also, Coinrail, a South Korean exchange platform, was hacked, with 2.6 bln NXPS tokens being stolen.

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