Trade.io Hack

REPORTED LOSS $9.0M
Medium Access Control

What happened

Quick Summary

Trade.io experienced a security breach resulting in the loss of over 50 million Trade tokens (TIO) from its cold storage wallets.

Details of the Exploit

An unknown party managed to withdraw 50 million TIO tokens from Trade.io's cold storage wallets. These tokens were meant to be allocated for the Liquidity Pool. The stolen funds were the company's backup cryptocurrency, held in reserve for peak trading activity.

An estimated 1.3 million of the stolen tokens were transferred to both Bancor and Kucoin.

Block Data Reference

The Etherscan records of the stolen funds:

https://etherscan.io/token/0x80bc5512…0fa1df

The transactions to Bancor and Kucoin:

https://etherscan.io/tx/0x5a504fe7…c37991

https://etherscan.io/tx/0x5a504fe7…c37992

Case & protocol details

Classification CeFi
Protocol Type Exploit/Access control
Official Website trade.io/
Protocol Twitter/X @tradetoken

Evidence & learning

Attack pattern

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Access Control Attacks

Sources and on-chain records

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