Statement Regarding the KuCoin Hack and DAPPT Swap Arrangement

2020-10-17 11:50:00 · 1415 views · 4 min read

Update at 10 PM EST, 21st October: 

The distribution of the new token 0x96184d9c811ea0624fc30c80233b1d749b9e485b has completed based on the old DAPPT snapshot at block 11097473.

The stolen fund in the hacker account was re-distributed to the new Kucoin address: https://etherscan.io/tx/0xe938de1de17a58d2253375fa081da91e07f38697a650226c256cb8b14791e98b

Withdrawal and deposit will be open by Kucoin within the next 12 hours. 

 

To the Dapp.com Community,

 

 

On Sep 25/26, over $200 million worth of tokens were stolen from KuCoin exchange, and as part of the theft, 171,424,894 DAPPT (3.428% of total supply) with a market value of over $170,000 were stolen. We’ve immediately closed the deposit and withdraw on MXC and other exchanges that listed DAPPT. The hacker has no chance to liquidate the ill-gotten DAPPT. 

 

(The stolen DAPPT and its market value)

 

 

While this unfortunate situation was beyond our control, further rectifying this incident for all DAPPT holders is of utmost importance to us. We’ve worked with Kucoin team closely to finally take this tough decision to reissue all DAPPT tokens 1:1 via a token swap. The followings are the arrangements for the token swap: 

 

  1. A snapshot will be taken on block 11097473 at 04:00 AM UTC on 21, October 2020. DAPPT’s ERC20 tokens have been reissued 1:1 via the new smart contract, rendering the previous contract address, and tokens, obsolete. 

 

  1. The new DAPPT token is already issued and it was audited by PeckShield. Here is the new address: 0x96184d9c811ea0624fc30c80233b1d749b9e485b.

 

  1. The new DAPPT token will be distributed via airdrop to the holders of the previous token based on the snapshot on the Ethereum block 11097473. The DAPPT token balances at the KuCoin hacker's address will be mapped to 0xe10332741c59CED2BA96db514a9eD865dDF99b6a, an address that Kucoin controls. The entire token swap will take up to a few days, we will make a follow-up annoucement when it is all completed. 

 

  1. Deposit and withdrawals of DAPPT were temporarily suspended on KuCoin, MXC, and a number of other exchanges*. Please note that NO ACTION is required, if you left your tokens on an exchange such as MXC. We will coordinate with exchanges to update the contract address. If there are any problems with trading, deposits or withdrawals, please reach out to us on our official Telegram channel and we will liaise with the exchange.


 

We would like to thank the DAPPT, Kucoin and MXC community for their support and understanding at this time. 

 

 

Regards,

 

Dapp.com Team

 

 

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