PAID Network Attack Postmortem, March 7, 2021

Letter From Kyle Chassé

Dear PAID community,

First of all I would like to thank everyone for their unwavering support while we investigated the attack that happened on Friday, March 5th, at 20:00 UTC+2. An attacker exploited the PAID Network deployer contract to steal over 59 million PAID tokens.

The attacker used a compromised private key to the original contract deployer to leverage the upgrade function of the smart contract. The attacker then proceeded to ‘upgrade’ to a new smart contract which had the ability to burn and re-mint tokens.

With the upgraded…


Image for post
Image for post

We’re thrilled to announce a strategic partnership between PAID Network and e-Money. e-Money is committed to bringing financial inclusion and helping people worldwide have easy access to digital currencies while bridging blockchain with the traditional financial system. Built on Cosmos, e-Money is created for the issuance of a range of interest-bearing stablecoins which are fully backed with actual bank deposits and government bonds. e-Money currently supports the Euro (EUR), Swiss Franc (CHF), and Scandinavian currencies.

Their vision is to create a level playing field, providing equal access to financial services on a global scale, while greatly reducing cost.

They promise…


Image for post
Image for post

PAID Network is excited to announce its partnership with Polkacover, the first decentralized insurance marketplace for the DeFi and Crypto ecosystem.

Polkacover provides several insurance products tailored to safeguard crypto, DeFi and NFT asset users. Users can search, compare and buy multiple insurance products backed by traditional insurers or through the community-governed P2P insurance platform.

The widespread adoption of new consumer technologies across multiple industries has generated a new set of demands and expectations for insurance solutions. Presently, crypto insurance options are too niche in their coverage — or too complex to understand. …


Image for post
Image for post

PAID Network is proud to announce its partnership with Evolution Finance, a decentralized unique token economy aiming to port the top 50 market assets onto Ethereum with RenVM and other wrapping services for availability on its lending market.

Through the new partnership, Evolution Finance’s lending services will be integrated into PAID’s new IDO Platform Ignition, allowing users to collateralize their tokens and borrow against them to participate in upcoming IDO Sales. Users of Ignition who want to take part in IDO’s will no longer need to sell other assets, and can instead deposit accepted assets on Evolution through the website.


Image for post
Image for post

We are extremely excited to announce that decentralized streaming service AIOZ has elected to launch on Ignition. Receiving the support of Master Ventures and Innovion, AIOZ is the latest Ignition project stamping their mark on the crypto scene. The forward-thinking team have been working tirelessly to create a network infrastructure that will change the way we view online content forever.

The AIOZ whitelist is open! Join the AIOZ whitelist HERE

Is this the next industry to encounter innovation from a decentralized source?

The answer is yes!

AIOZ are disruptors in a space that is currently dominated by a select few…


Image for post
Image for post

PAID Ignition is coming in strong, just over a month since it was announced, the PAID IDO platform presents yet another top tier project that has committed to launch an exclusive Ignition IDO, PolkaFoundry. PolkaFoundry is the one-stop production hub for DeFi on Polkadot through allowing users to create borderless and frictionless DeFI applications. The IDO will commence on March 10, 2021, at 2pm GMT.

We are excited to announce you can now whitelist for PolkaFoundry’s IDO Whitelist HERE, and don’t wait! We close their whitelist Sunday, March 7th at 2pm GMT.

A one-stop dApp factory

PolkaFoundry provides interoperability between…


Image for post
Image for post

PAID Network is bringing in another win for the PAID community. On the heels of the successful launch of FUEL, and a successful first IDO launch with Shadows on the PAID Ignition launchpad, the team is bringing in another partnership that adds value across the entire PAID ecosystem.

We’re excited to announce a partnership with DAO Maker, the platform that re-created venture capital for the masses. As part of the agreement, DAO Maker, who internally leverages cutting edge on-chain analysis software, will provide PAID Network access to their proprietary data analytics technology.

A partnership for the long-term nature of projects


Image for post
Image for post

PAID is proud to announce its partnership with AllianceBlock, a decentralized, blockchain-agnostic layer 2 that bridges traditional and decentralized finance and automates the process of converting any digital or crypto asset into a bankable product.

Through this new partnership, PAID will gain access to AllianceBlock’s Liquidity Mining as a Service (LMaaS) program to benefit from multiple pools such as Balancer, Uniswap, Binance Smart Chain and more upcoming AMMs to be launched in the future. Additionally, AllianceBlock’s borrowing and lending platform will be integrated into PAID’s DeFi toolset. This will allow fundraising channels to be broadened, including NFT loans backed by…


Image for post
Image for post

We are proud to announce Shadows Initial Decentralized Exchange Offering (IDO) on Ignition Launchpad starts on Tuesday, March 2, 2021, 2PM GMT.

There will be a limited supply of 1,000,000 tokens for purchase on Ignition at a fixed price of $0.125 per $DOWS token on a first-come, first-serve basis to confirmed whitelist participants.

Congratulations to all our lucky lottery ticket holders!


Image for post
Image for post

PAID is proud to announce its partnership with the egalitarian project investment platform, Launchpool. Launchpool connects varied stakeholders in the crypto community and incentivizes them via its $LPOOL utility token. The partnership opens up the communities of both projects to an array of top-tier, private-round access opportunities.

More for the PAID and LaunchPool community

Thanks to this strategic partnership, $PAID token holders will be able to stake $PAID tokens during Phase 1 of Launchpool. PAID will join 8 other farming tokens on the Launchpool platform. …

PAID NETWORK

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store