Half a Million Dollars Stolen in ICO Phishing Scam, Enigma Responds

Enigma, a company building a machine-based investing platform and infrastructure for crypto-assets, suffered a serious setback on Monday (21st August 2017) when vulnerabilities in the security of its website and some social media accounts were taken advantage of by criminals to launch a phishing attack targeting potential investors in the project. Although the company did not lose any of its own funds, some members of the community were duped out of approximately US$500,000 by the scam – leading to a loss of trust and goodwill for the company in the immediate aftermath.

Preparing to launch an ICO in September for its Catalyst investment platform, Enigma hopes to provide a means for developers to build, test and execute micro crypto-funds. Using Catalyst is intended to simplify the investment decision process for crypto-assets; through Enigma Catalyst, users will be able to build their own crypto-hedge fund.