ETHO Team Statement
Announcement of a theft of 17M wrapped by a rogue party

The Team has been made aware that our wETHO ERC20 / ETHO bridge has been compromised. 

 

Not the contract itself, but we believe that a single actor with private keys to the bridge has been starting to imbalance: wETHO has been printed illegally and almost entirely to a single Kucoin wallet address. 

 

We will publish a full list of suspect addresses shortly. Many of the ETHO Addresses also point back to someone running several nodes.

wETHO on Ethereum blockchain: https://etherscan.io/token/0x99676c9fa4c77848aeb2383fcfbd7e980dc25027 (approximately 29M)

ETHO on the ETHO Blockchain (collateral for the bridge) https://explorer.ethoprotocol.com/address/0x2edFef4716612b705993C73e69728bEB6E28c57F/transactions (12M native ETHO) 

 

So there is a 17M ETHO imbalance-- counterfeit ETHO. This has started around October 2021. First with smaller batches, which went unnoticed, however the thief has become more brazen and increased the transaction size which was caught by one of our community members.

 

 

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As difficult as this is deposits on Kucoin have been stopped. We will also inform all other exchanges to stop depositing wETHO. Bridges have two sides, thus we are still investigating if this affects our main-net. 

 

We are currently trying to perform tracing to potentially freeze any funds obtained illegally. We are planning to publish all illegal mints and traces on our website as a blog as soon as we have the material available. This is a fairly complex thing, any 3rd party review is appreciated and the team is open to support. 

 

In closing, the Etho Team is made up of Community Members like yourselves. We are all volunteers. We run nodes, we contribute our time in addition to investment and purchases of ETHO and wETHO. We are in this together -- all of us have been damaged by this event. This selling pressure of the last few months has accounted for the price drop and it has been stopped as of today. 

 

We will do our best to bring forward as much information as we can, please re-check our website blog page for the latest hack information: 

 

It is more important, now than ever, that we stick together on this, work together to keep Etho intact through this storm. Thank you for your understanding. For now the best thing you can do is stay informed. 

 

 Sincerely, Team Etho