Dear BAIC community members:
1、The BAIC smart contract is now updated and new BAIC tokens have been fully distributed into your accounts. If there are users who have not received tokens, please contact the BAIC team directly;
2、BAIC and KKCoin have been working closely to swap all BAI tokens to BAIC and will resume trading in the near future. Appreciate your understanding in the meantime;
3、The BAIC team thanks KKCoin for their prompt response and active cooperation throughout this incident. Trading of BAI tokens were suspended and suspicious accounts frozen immediately when malicious activity was reported. Only a single-digit amount of ETH was siphoned away, greatly minimizing the losses to users. The BAIC team will bear the cost of this incident to protect the rights of users and KKCoin.
4、Users who lost money due to these malicious actors will be refunded in the equivalent amount of ETH spent at time of purchase. Normal transactions are valid by default; If you have doubts on whether certain transactions are valid, please contact our customer service for verification.
5、Throughout this incident, the BAIC team witnessed KKCoin’s ability to handle problems proactively and efficiently. The BAIC team was impressed by KKCoin’s responsible approach and hopes for a long standing partnership in the future. From today onwards, KKCoin will be the official exchange for BAIC project partners.
Last but not least:
Emergence of new technologies is always accompanied by emergence of various problems. In this industry where revenue and risks are both present, the BAIC community has looked ahead from this incident and realized that exchange listing is only the first step of the relationship. Project parties must maintain close communication and cooperation with the trading platform at all times. Since the onset of this incident, both BAIC and KKCoin created a WeChat group immediately to facilitate the timely detection and treatment of abnormalities. Protecting our users’ assets are our highest priority and allowed us to minimize the amount of theft this round. Therefore, from today onwards, all BAIC project partners and exchanges will formally establish dedicated working groups to facilitate timely communication, ensuring that risks and problems are resolved at the earliest instance to protect investors. At the same time, it is recommended that BAIC community users trades only on exchanges that are formal partners with the BAIC team, to ensure the safety of your digital assets.
Finally, thank you to our community that have always stood by the team, allowing us to overcome one difficulty after another. Going forward, the BAIC team will commit 120% effort and focus to continue to work hard and achieve more.
Follow us on telegram (English) KKCOIN Global Telegram: https://t.me/KKGLOBAL
KKCOIN Team & BAIC Community
May 28th 2018