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by baraah 3249 days ago
With the market cap beeing $360.000.000[0], and only 2% beeing in circulation, the value of the stolen tokens seems to be higher than the value of all coins in circulation.

2% of $360,000,000 are $7,200,000 and the hacker stole more than eight million.

Or did I get this wrong somehow?

[0] https://coinmarketcap.com/assets/veritaseum/

1 comments

2% represent the $360M(market cap, in circulation). 100% is 50 times that, $18B (total supply), i.e. 100M tokens.

What is stolen is 0.07% of 100M tokens which is 70K tokens, which is roughly $12M for current market price.

According to the founder, the amount of stolen tokens is 37k: https://bitcointalk.org/index.php?topic=1887061.msg20355530#...

That number also matches the number transferred (36,687.9382688909) to this wallet mentioned in the article: https://etherscan.io/address/0x3fff90bf314673194c3a265ed1c0a....

Also, according to two other articles (linked from the bitcointalk thread), cite the value of the stolen as US$4.5M, not US$8.4M:

http://www.altcointoday.com/ethereum-ico-veritaseum-suffers-... http://www.newsbtc.com/2017/07/24/yet-another-ethereum-ico-g...

Checking market charts around the time it happened (~00-08 July 24th), there's a significant dip in value, with the price going as low as US$~122: https://coinmarketcap.com/assets/veritaseum/#charts. At that rate the stolen tokens would be worth US$4.48M.

Then the 0.07% number was probably wrongly estimated by the founder, that number would be 0.037% then. He might have missed the 3 before 7. Anyway, that explains it.