Affected by the recent loopholes of ERC20 smart contract, BAIC contract address was attacked at 05:42 on May 24, 2018(UTC+8), and this resulted in an abnormal transfer of 1 billion BAI tokens. At BAIC project team's request, CoinTiger suspended BAI deposit, withdrawal and trading on May 24. However, BAIC team has currently completed the necessary security upgrade of their smart contract and their platform is safe for transactions.
Based on the interest of users, CoinTiger actively negotiated and cooperated with BAIC project team to protect users’ interest, hence the following resolutions:
1. CoinTiger had made snapshot of users’ BAI assets at 05:41 on May 24th,2018(UTC+8). Users who hold BAI will receive equivalent BAIC tokens before BAIC trading is available.
2. If users once bought abnormal transferred BAI, the previous orders will be canceled, and CoinTiger will return ETH that uses spent to purchase BAI token. Otherwise, BAI project team will distribute BAIC equal to 5% of abnormal transfer BAI that users buy before as compensation.
3. CoinTiger will distribute ETH to BAI holders. Users who bought the abnormally transferred BAI tokens will be compensated extra 20%ETH of the total order after CoinTiger cancelled the previous orders. For users who did not buy the abnormal BAI, CoinTiger will distribute 0.05ETH as a gift.
For users who meet both conditions as specified above, ETH will not be distributed repeatedly (if you bought any portion of the abnormally transferred 400,000 BAI tokens with 1ETH after the snapshot was taken, the asset you can receive is 1.2ETH + 20,000 BAIC.)
4. BAIC/ETH trading pairs will be available at 16:00 on June 6th, 2018(UTC+8).
*ETH and BAIC will be distributed to qualified users’ account before June 13th, 2018(UTC+8).
Risk warning: Crypto-currency investment is subject to high market risk. Please make your investments cautiously. CoinTiger will make best efforts to choose.