Tron Logo
Trade on HitBTC

Algo Capital loses millions after CTO’s phone was hacked

Algo Capital loses millions after CTO’s phone was hacked
0 0 465

Dear benchers! Hot news!

The investment company Algo Capital, focused on Algorand blockchain, invented by MIT professor Silvio Micali in 2017 as a possible solution to the scaling issues other blockchains face, lost several million dollars in USDT and ALGO tokens after its CTO's phone was hacked. According to last Friday news Pablo Yabo, CTO of Algo Capital, had his mobile compromised by hackers which allowed attackers to take control of a Yabo's Algo wallet.

“Yes, there was a security breach, we communicated to all the Algo Capital VC Fund Limited Partner’s and updated them about the incident.” — CEO David Garcia told CoinDesk in an email.

The company is taking full responsibility for the incident and committed to refund the full amount within 20 months.

Stay tuned!

06 Oct 2019
The views and opinions expressed in blogs are those of the authors and are not the official policy or position of ICObench. Any content provided by our bloggers or experts is of their opinion and they are fully responsible for it. ICObench is not legally responsible for the blog's content.

This user’s post This user all posts

20 Jan 2020 Benchy 0 0 209
ICObench Weekly Digest #3
Dear Benchers! Overall, during the last week, the crypto markets showed somewhat of green light where major coins had a chance to gain and to go bullish. Thus, the total market...

Cookies help us deliver our services. By using our services, you agree to our use of cookies.

Learn more Got it