Taken from the telegram group:
QUICK SUMMARY: Due to a malicious action resulting in illegal theft of 16mil ICO tokens, BAR Token is being replaced with a forked token, TBAR. TBAR will replace all circulating BAR tokens. ***You will see TBAR show up in your Ethereum wallet. Please do not be alarmed, your tokens are safe and you were not compromised. Titanium’s MVP will still be released by target date of March 1st, 2018. ***
Dear Titans,
Today, in a malicious act, approximately 16mil BAR ICO Tokens were taken from Titanium company wallets. These wallets had been storing 4mil reserve BAR and 12mil team allocation BAR Tokens, recently minted by TBIS engineers. TBIS Inc. CEO, Michael Stollaire, has locked down all company accounts and notified authorities with case sensitive information regarding the perpetrators of this illegal theft.
For ICO investors and BAR token holders this malicious act means that a large part of the signature token for Titanium’s ecosystem (BAR) is now in the hands one or more criminals who may at any time choose to devalue the token by selling all of it. While it is the hope of the entire Titanium team that the perpetrators of this act will be brought to justice, we find it necessary to take unprecedented steps to provide a transparent solution immediately:
1)TBIS will fork their ICO token (BAR) and create a second token (TBAR) to be used in Titanium’s ecosystem for goods and services in place of BAR token.
2)TBAR will be issued to all BAR holders (both ICO participants and those who have acquired bar via exchange purchases or other means, excluding today’s malicious act).
-ICO contributors who have not moved BAR to an exchange or a different wallet since initial purchase will receive TBAR alongside BAR in their wallets.
-For those who have purchased via exchange or moved BAR to a different wallet, a simple form will be provided for verification before TBAR is released alongside the BAR already in their wallets.
3)Titanium has already asked that both official and unofficially announced exchanges cease allowing BAR token to trade and will ask that TBAR begin trading in place of BAR after distribution.
MVP production and release by March 1st, 2018, will not be affected.
Is that true? very sorry - they are a good project, pity that they are so crippled.
Hey thanks for your great post dear
I am following you now
I want to share something special may be that help you
TOP 3 CRYPTO ANALYST WITH SUCCESS RATE
@salahuddin2004 with success rate 100
@lorfdfruth with success rate 95
@cryptogean with success rate 92
Yep, the price has taken a beating!!
Hopefully will return and beyond.
I also hope that the team will stand!
I feel like news like this is showing up far to often and I don't see it slowing down anytime soon.
It really is isn't it, not just wallets either but exchanges, private keys stolen and more.
You just need to try and keep everything as secure as possible with hardware wallet, private keys written down and in seperate place etc
Congratulations @furn01! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPThat is awesome :-) Will go and have a look now.
Thanks