Updates on the Taylor hack incident

Here are some more informations and the first actions

As you may know, we've been hacked and lost all of our funds. We are still investigating the cause and source of the hack. We still cannot disclose much information right now. What we can say is that it was not a smart contract exploit. Somehow the hacker got access to one of our devices and took control of one of our 1Password files.

Today we noticed that some funds from other people or companies were transferred to the same wallet involved in our hack. It seems like other people were robbed. We have some security specialists helping us track the activities and trying to find a solution. Everything has been informed to the police.

Once we have everything clear, we will make a public statement. We will keep you updated.

The TAY token

Since the hacker also stole a big portion of TAY (more than 7% of the total supply), we are considering to issue a new token and swap the old one. The goal is to make sure the hacker does not receive the new token. We analyzed all transactions made by him, and we know exactly where the stolen tokens are.

The new tokens will be sent to every address that had balance at the block number 5663273, except the hacker’s addresses. This action is necessary to keep a fair environment and distribution for token holders.

A complete plan is being developed and will be announced soon. Until that, please do not buy, sell or transfer any TAY tokens. Cancel all EtherDelta orders. Otherwise, you may lose your money and will not be able to receive the new token.

The bounty distribution

The Bounty program token distribution, which was planned for May 26th, is on hold until the new token is issued, distributed and unlocked.

As always, we've been open, transparent and honest with the community. We count on you to support us at these hard times.

Thank you.