Taylor, a project touted as a smart cryptocurrency trading assistant notified today they’ve been hacked. Passing no judgment, they reported in an announcement just now, “Even though we have unfortunate news to share, we must tell our community the whole truth as we’re committed to the absolute transparency we owe you. That’s the only conceivable course of action we could take in order to live up to the trust and support you have given us.”
This was supposed to be the month the Taylor Mobile App Beta launched according to their brief roadmap.
The full notice the team left can be read below:
Today we arrived at the office and found out that we’ve been hacked and all of our funds have been stolen. Not only the balance in ETH (2,578.98 ETH), but also the TAY tokens from the Team and Bounty pools. The only tokens that were not stolen are the ones from the Founders’ and Advisors’ pools, because there’s a vesting contract making them inaccessible for now.
We are still investigating, but, as far as we know, the hacker is same person/group that supposedly hacked CypheriumChain (more than 17,000 ETH were stolen). The hacker collected the amount from multiple sources in a single wallet, then transferred it to a bigger one (the same as @CypheriumChain).
After that we noticed an attempt to dump the stolen tokens on IDEX, then we asked the IDEX team to delist TAY until we have a clear vision on the situation. This is why the market is not available at the moment. We also tried to contact someone at EtherDelta but we’ve got no response from them yet at the time of this writing.
If you follow our development, you are witnessing our evolution every week. Last week we released an exciting development update. This week we were planning to work on important things in order to release the beta version. As we have been saying: we are here to stay. We have great minds in our team and we are eager to make Taylor succeed in the long term.
Even though we took the duly security measures to prevent this kinds of situation, we could not stop what seems to have been a highly advanced and coordinated attack, so for now we have more questions than answers. Things will become clearer once we find the security breach that allowed the hacker to compromise our funds. If you have any sort of information that can help us find the hacker or recover the funds, please contact us on Telegram.
We will probably not recover the stolen funds, but we have one of the most important assets a company can have: a strong community. This is the time for you, community member, to show your support towards such a difficult situation for all of us. We’re doing the best we can to overcome this unexpected mishappening and grow even bigger and stronger, so your support is absolutely paramount to Taylor’s success.
We reassure that we will spare no efforts to find a way to mitigate the implications of this incident for every single legit token holder. We are not going anywhere!
We will keep you updated.
Thank you for your support.