Cryptocurrency Trading App Taylor Looses US$1.5M In Hack; Considers “Survival Fund Token Sale”

Taylor, a cryptocurrency startup developing a trading app, was hacked out of more than 2,500 ETH, or approximately US$1.5 million, in addition to 7% of the total supply of its own TAY token. The heist has put the project in jeopardy leaving the company with no other choice than either stop the project all together, stop working full-time on it, get funded by an angel investor or VC firm, or launch a “survival fund token sale.” The team is still investigating the heist but evidences suggest that the perpetrators are the same that hacked CypheriumChain out of more than 17,000 ETH, or nearly US$10 million in March.

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