UPDATE: The Electroneum team just sent out an email stating that the wallet will be live by mid next week, which means around December 13th or 14th. Here’s the full update:
HackerOne are drawing to a close on their Private Challenge and not one bit of private data has been compromised or accessed by their team of awesome hackers!
They found a handful of little bugs, but did not gain access to private keys, wallets, user data or anything scary. That is a HUGE relief for all of us.
The HackerOne Challenge officially finishes on Monday and we are now rolling out the last of these little bug fixes and we will be launching (ahem!, cough! RE-launching) Electroneum by the middle of next week!
We have not been idle while HackerOne were busy, we’ve made improvements to the look, feel and functionality of the website wallet system (which will enable iPhone users to make transfers until the iOS app is launched) and the Android app, and we’ve been contacting hundreds of potential partners to ensure we have some joint ventures already negotiated for once we are up and running. Hopefully by the time we launch next week, we will have something signed and have our first public partnership(s) in place.
I’d like to thank everyone for their patience, after seeing NiceHash hacked for $64m USD just yesterday, I was glad we made the tough decision to engage HackerOne.
Have a great weekend everyone, we’ll be working straight through to ensure everything goes according to plan THIS TIME!
Electroneum is one of the hottest ICOs since Tezos, after hardcapping at $40 million with more than 240,000 registered users. However, their live wallet was supposed to be available on November 1st, as well as a mobile miner and the actual ETN coin. It’s been 3 weeks since and every ICO participant is locked out of their Electroneum wallets, due to security reasons.
The team behind Electroneum stated that after the launch several hundreds accounts were compromised, and they believed that those accounts were compromised because they used leaked email/pwds from other hacks (i.e. Yahoo). That’s when they started to stop the access to the wallet and began working on improving their security.
In the latest email sent by them, which starts with “Firstly, don’t panic – your ETN Coins are safe!”, they state the following:
- They stayed offline and since then they engaged HackerOne, who work for the US Department of Defence, Uber, Spotify etc. to try and penetrate their system.
- HackerOne is currently working with the Electroneum system on a closed, private, “challenge” to try and penetrate it. Details of what bugs they discovered so far are posted here: https://hackerone.com/electroneum
- The security analysis will take place for around 3 weeks.
- They estimate that the first or second week of December the wallets will be available again with all our ETN coins.
- They’re re-assuring users that they didn’t run off with the money.
- The ETN team is working on landing some commercial relationships to get firm agreements in place after launch, in the mobile phone (cell phone) industry, with a player that has over 50m active monthly subscribers.
I trust the team and I truly believe they are working hard on fixing the security issues. Recently, CryptoRich, a prominent cryptocurrency Youtuber that’s not affiliated with Electroneum, visited their offices and posted some interviews:
As you can see, there’s a real team working on Electroneum, and that makes me believe that ETN is still one of the most popular ICOs and future coins. You can keep an eye on any news regarding the crypto on this community: Google+ Electroneum Community.
If you want to see an Electroneum review from a 3rd party vlogger, here’s one I found interesting:
Lastly, if you are wondering why did they decide to release 21 billion coins which might devalue the coin, here’s a mathematical explanation on why there are actually lower supplies than Bitcoin:
Enough chit-chat, to the MOON with you Electroneum!