KICKICO News and Price Analysis: KICK +30%; Recovering After The Hack. Thursday, August 2
Important KICKICO News
Hacker Steals $7,000,000 Worth Of KICK
A week ago, KICKICO officially admitted that they platform and smart contract have experienced a security breach after multiple users started reporting and asking why did their tokens disappeared from their wallets. During the further investigation it turned out that almost 70,000,000 KICK tokens were stolen.
The platform now slowly recovers after the attack and tries to solve the problem of lost tokens. The code vulnerability has already been fixed and the control over the smart contract has been fully restored. The KICKICO statement says: "The project team asks all those whose tokens have been stolen to email [email protected] for the return of funds to wallets. KICKICO guarantees to return all tokens to KickCoin holders. We apologize for the inconveniences, but claim that the situation is under control."
KICKICO has released an update to the initial hacking statement, where they inform that they had managed to destroy hacked tokens, which means that the overall supply and amount of tokens won't be affected: "As some of you have already noticed, hackers' tokens were destroyed yesterday. We created a new wallet which will be holding new tokens plus monthly bonus so nobody loses their profit. KICKICO will return tokens to its holders within three weeks from the date of each appeal, verification is carried out for every wallet individually."
KICK Token Price Analysis
What is interesting when it comes to KICK price is that in last 24 hours the token managed to get almost +30% to its value. It's very unusual to see the coin thrive after such negative news and vulnerability which caused many users to lose their tokens. Moreover, it's even more incredible as currently the cryptocurrency market experience a rather negative price movement with many top coins losing their value at around -5% daily.
After taking a first glance at the chart, one can easily notice that the hack had indeed echoed after few days and had a very significant impact on the price with this sudden fall from $0.1379 to $0.12. KICK recovered very quickly and started trading above $0.14 after only few hours. It is currently way past $0.15 and exploring the highs of $0.165. However, it's worth noting that it had been previously trading much higher reaching $0.2 in January, while the starting price immediately after the ICO phase in October last year was $0.27.
KICK/USD Price Chart, Thursday August 2nd:
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