Etherparty is a smart contract creation tool that enables users to create smart contracts on the blockchain. It’s a user-friendly tool. Etherparty said that its ICO (Initial Coin Offering) website has been hacked and the address for sending funds was modified to reroute the funds to the hackers.
The company detected the attack in just 15 minutes and shut down its website immediately to stop users from sending money to the hackers. They investigated the hack and recovered the website after 95 minutes, letting the ICO continue as scheduled. The blockchain company has promised to compensate any affected contributors, with its proprietary FUEL token, prior to the temporary website shutdown.
According to the founder of Etherparty:
“Our team has been consistently and successfully thwarting potential security issues to avoid further escalation. However, we do acknowledge and apologize for the temporary disruption to our otherwise successful launch day. Etherparty is eager and committed to compensating all affected contributors for the inconvenience.”
Despite all this, ICOs are insanely popular, allowing companies to raise large sums of money. they got off to a positive start, selling over 10,000,000 FUEL tokens in the first hour. The smart contract company sold over 400,000,000 FUEL tokens before the official launch in the pre-sale.