Upbit korea #hacker

By Punyin100 | What is erc20? | 28 Nov 2019

South Korean cryptocurrency exchange Upbit has reported that hackers have ransacked its Ethereum $ETH▼4.4% “hot wallet,” stealing 342,000 ETH — a cryptocurrency stash worth $48.7 million. The attack was confirmed in a statement posted to the cryptocurrency exchange's website by Upbit's CEO Lee Seok-woo earlier today.1 day

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What is erc20?

What is an ERC20 token? ERC20 is an official protocol for proposing improvements to the Ethereum (ETH) network and can be understood as a standard for tokens that are created on the Ethereum blockchain. For example, many ICO tokens are ERC20 tokens. ICOs, or initial coin offerings, are fundraising events where companies raise funds for projects by selling digital tokens. A traditional finance analogy would be IPOs, or initial public offerings. IPOs are when companies get listed on public stock exchanges