Trade.io Suffers a Rare Cold Wallet Hack as it Loses $7.8 Million U.S. Dollars

Nilesh Maurya reports:

Unfortunately, hacks have been pretty common with cryptocurrency exchanges across the globe. But what Trade.io, a lesser-known Switzerland-based cryptocurrency platform, suffered was a rare attack as it affected the exchanges cold wallet.

According to the post released on the exchanges Medium blog, the exchange’s security team was alerted to a suspicious transaction involving an exchange-owned wallet. The wallet in question, which was reportedly kept under lock and key in cold storage, held TIO tokens, Trade.io’s native digital asset.

Read more on CoinGape.

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