Updates on the Taylor hack incident
2018-05-23 • Taylor •
https://medium.com/smarttaylor/updates-on-the-taylor-hack-incident-8843238d1670
Taylor reported that attackers stole its funds after gaining access to one of the team’s devices and taking control of a 1Password file. The company said the incident was not a smart contract exploit, shifting the defensive focus from contract logic to endpoint compromise and credential or vault access. Taylor observed funds from other people or companies moving to the same wallet involved in its case, suggesting the wallet may have been used across additional thefts. The team said more than 7% of the TAY token supply was stolen and proposed a token swap that would exclude the attacker-controlled addresses identified through transaction analysis.