• Poolz, an IDO platform, was recently the victim of a security incident.
• The team responded quickly, and within two hours the token was no longer available for trading.
• A fundraiser campaign was initiated in the aftermath of the incident to bolster security and create a more robust platform for users.
Poolz Security Incident
On 15 Mars a hacker succeeded in exploiting the token contract for the POOLZ vesting system. Some of the tokens that were allocated to public buyers were illicitly obtained and sold.
The Poolz team responded quickly, and within two hours the token was no longer available for trading. A rapid response team was assembled to prevent further damage and ensure a similar incident could not recur. Within hours of the attack, Poolz succeeded in having the hacker’s address flagged on leading blockchain explorers. The team also removed the remaining liquidity from Uniswap and Pancakeswap to protect users.
New Platform Token
The same day, Poolz commenced work on designing a new platform token, POOLX. The token is currently being audited by Certik, ArcadiaGroup, and ChainPort.
To support Poolz‘ efforts, a fundraiser campaign was initiated in the aftermath of the incident. Within 12 hours, $600K was raised in order to implement new and strengthened foundations. This will bolster security and result in a more robust platform for the benefit of all users.
Quotes from Founder
Poolz Founder Liam Cohen said: „We’re proud of our team’s swift and effective response to the cyber