DETAILED REPORT ON THE PADD WALLET HACK

PADD UPDATE

Hello PADD ARMY!

I understand how furious you guys are at the moment.

Everyone is confused as you are. We were confused too.

The token address containing the tokens of our Seed Round and Strategic Investors was hacked.

Total Token in the wallet:  1,276,250 $PAD

Transaction Hash of when the token was sent:  https://explorer.kcc.io/en/tx/0xe6362a1fb5ee43fe01a7fd7037ca8d3e1813fce8d5e3f92bd0ca49f772914354

The initial liquidity of the token was deployed at 12: 30pm UTC.

Just shortly after the deployment – We set out to dispense token to our Private/Strategic Investors only to find out that the wallet was hacked alongside the 1.99 KCS in the wallet.

A close trace on the hacked wallet showed the following: 

NB: The area marked in Red shows the first wallet the hacker sent the tokens to.

Wallet address:  0xbd7834c5f6185a0a3c29cae152012e5308b78660

Further Tracking Shows the various wallet addresses in which the hacker moved the tokens to before dumping a total of 70,000 PAD tokens: (Screenshot below)

The Screenshot below shows the record of the hacker returning some of the tokens after we announced that we got hacked:

Records on KCC Explorer: https://explorer.kcc.io/en/address/0xbd7834c5f6185a0a3c29cae152012e5308b78660

This is just from one of the wallets.

PERSONAL NOTE:

Contrary to what was posted by KCLPAD, The Padd team sold no tokens. The token shown above was meant to be distributed to our Seed Round / Strategic Investors.

Before the KCLPAD TEAM announced that Padd sold 70,000 worth of token, we told them that our wallet was hacked and we asked them to investigate but all they had in mind was to protect their brand name.

As stated accordingly, Team tokens are locked for 6 months.

To further confirm what was stated – our private investors did not receive any token at the time of listing – this was because of the hack.

PADD X KCLPAD

Padd was nurtured and incubated by KCLPAD, as such they also helped us to deploy our initial liquidity during the relaunch.

Liquidity was pulled by KCLPAD because they thought we sold a token which we didn’t.

While we are grateful for the support they have offered so far, we are also not happy with the way they stated a false claim against PADD. The Padd team sold no token!

To Our Investors: 

Apologies are not enough to make up for the losses we might have incurred you. We will own up to our shit and ensure we all find a common ground.

We are investigating deeply to understand how our wallet was compromised.

TOTAL TOKEN INITIALLY MADE AWAY BY THE HACKER: 1,276,250 $PAD

Total Token Returned: 1,146,250 $PAD

Total Token Sold by the Hacker: 130,000 $PAD token

TEAM CONSEQUENCE:

The consequences stated below are not enough to compensate for the lost funds, however we can’t walk around like nothing happened. We are to be held responsible for the hack.

Team token Burn: 1 Million $PAD token will be burnt publicly for the whole community to see.

Team Token Lock: The remaining Team token will be locked for 1 year and will only be unlocked after we have built PAD up to the real standard that we envisage.

Thank you.

  • ALEX JAYPEE 
  • (Founder/CEO, PADD Finance)