[ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold

[GOLD_official]

Can you explain the massive price dump here? Never saw this one coming in a sudden way!!!



This is the first time I've seen this coin getting dumped this big instantly. Probably a whale dumper or something?

Dear cheezcarls,
On bitforex exchange, somebody sold a big amount of gold tokens. There were not enough buy orders to buy that amount that's why the price fall. Right now you can see that price on Coinmarketcap and Etherscan.

This can happen on any exchange with any cryptocurrency. Just wait for the working days (now is the weekend) and then you can exchange tokens on our marketplace at a price of 1 token equals 1 gram of gold

Regards,
Support Team @ Digital Gold
https://gold.storage

[masterrex]

Can you explain the massive price dump here? Never saw this one coming in a sudden way!!!



This is the first time I've seen this coin getting dumped this big instantly. Probably a whale dumper or something?

Dear cheezcarls,
On bitforex exchange, somebody sold a big amount of gold tokens. There were not enough buy orders to buy that amount that's why the price fall. Right now you can see that price on Coinmarketcap and Etherscan.

This can happen on any exchange with any cryptocurrency. Just wait for the working days (now is the weekend) and then you can exchange tokens on our marketplace at a price of 1 token equals 1 gram of gold

Regards,
Support Team @ Digital Gold
https://gold.storage

Hello! Admin can you check your smart contract there is an unusual activity that was happening it seems that the Gold Token supply was increasing by millions look at this address " 0xedffb62e23b9b7933f1684441007cda232d3bd8f " they are selling it by thousands, not just in Bitforex But also in UniSwap I suspected that the smart-contract was compromised.   

[hosseinimr93]

What's happening?  Is the smart contract compromised?
The total supply is increasing insanely.
The total supply should be 19,200. Even the supply shown by etherscan is 19,200.

Take a look at the balance of the address below.
0xedffb62e23b9b7933f1684441007cda232d3bd8f
It is holding more than 440 ​million tokens.

[cheezcarls]

Can you explain the massive price dump here? Never saw this one coming in a sudden way!!!



This is the first time I've seen this coin getting dumped this big instantly. Probably a whale dumper or something?

Dear cheezcarls,
On bitforex exchange, somebody sold a big amount of gold tokens. There were not enough buy orders to buy that amount that's why the price fall. Right now you can see that price on Coinmarketcap and Etherscan.

This can happen on any exchange with any cryptocurrency. Just wait for the working days (now is the weekend) and then you can exchange tokens on our marketplace at a price of 1 token equals 1 gram of gold

Regards,
Support Team @ Digital Gold
https://gold.storage

Ok but in the marketplace, there's a big fee if I wanna convert GOLD to BTC. So you mean to say I wanna convert it first to 1 gram of gold before fiat?

[Always AL]

why did the price drop dramatically?  I saw in Bitforex the trade is no longer available

[GOLD_official]

why did the price drop dramatically?  I saw in Bitforex the trade is no longer available

Dear Always AL,

Please use our marketplace for the price check of the GOLD token https://gold.storage/en/market Currently our tech team is sorting out what happened. All user funds are in a safe place. The gold is in the Bullionstar vault. https://www.bullionstar.com/myaccount/audit account   17081. You can personally check it here.

A snapshot of holders' wallets was taken before the Bitforex incident. All gold tokens which were on users' wallets are safe.

Regards,
Support Team @ Digital Gold
https://gold.storage

[cheezcarls]

why did the price drop dramatically?  I saw in Bitforex the trade is no longer available

Dear Always AL,

Please use our marketplace for the price check of the GOLD token https://gold.storage/en/market Currently our tech team is sorting out what happened. All user funds are in a safe place. The gold is in the Bullionstar vault. https://www.bullionstar.com/myaccount/audit account   17081. You can personally check it here.

A snapshot of holders' wallets was taken before the Bitforex incident. All gold tokens which were on users' wallets are safe.

Regards,
Support Team @ Digital Gold
https://gold.storage

Can you please answer the concerns of the community members here regarding the smart contract being compromised? Especially that your total supply already increased by millions? Any explanation on this?

[GOLD_official]

why did the price drop dramatically?  I saw in Bitforex the trade is no longer available

Dear Always AL,

Please use our marketplace for the price check of the GOLD token https://gold.storage/en/market Currently our tech team is sorting out what happened. All user funds are in a safe place. The gold is in the Bullionstar vault. https://www.bullionstar.com/myaccount/audit account   17081. You can personally check it here.

A snapshot of holders' wallets was taken before the Bitforex incident. All gold tokens which were on users' wallets are safe.

Regards,
Support Team @ Digital Gold
https://gold.storage

Can you please answer the concerns of the community members here regarding the smart contract being compromised? Especially that your total supply already increased by millions? Any explanation on this?

Dear Cheescarls,

The contract was audited by ChainSecurity https://gold.storage/Statement-of-Security-Audit-for-Gold.Storage.pdf  However, if it has been compromised, then all newly issued tokens have not been accepted for exchange on our marketplace.

How exactly the issue will be resolved is a task for our tech team.

Regards,
Support Team @ Digital Gold
https://gold.storage


Dear GOLD token holders,

Recently our smart contract was attacked. As a result the GOLD token smart contact (developed by Ambisafe) will undergo extensive security audit. Once the audit is competed a new contract will be created and user balances that existed prior to the first hacking activity restored.

Previous audit by Chain Security of year 2019 failed to discover the vulnerability.

Gold Storage has taken all actions according to all applicable industry standards to protect users and its assets.

We sincerely apologize for the inconvenience caused.

Regards,
Support Team @ Digital Gold
https://gold.storage

[wwzsocki]

...Recently our smart contract was attacked. As a result the GOLD token smart contact (developed by Ambisafe) will undergo extensive security audit. Once the audit is competed a new contract will be created and user balances that existed prior to the first hacking activity restored...

Of course is very sad info for Digital Gold project but I have trust in the team that they will resolve this situation.

As for now we need to wait for more updates but i am happy that my tokens are not compromised, only the price on exchange dropped not a big thing to be honest.

Especially if we can still sell at the good price on marketplace. Let's give them some time to fight the hacker. Fingers crossed team.

[tbct_mt2]

It is bad temporarily with this attack but the team shown their good plans to fix and move forwards.

Yesterday, when I check the account in Vault and discovered that the amount of gold in the vault is untouched (not moved) and matches with total Gold tokens have been minted by the team, it is the confirmation that only the smart contract was compromised. And nothing bad happened with the gold team.

As a long time supporter of this project, I wish best for the team and the project will come back stronger.

[GOLD_official]

...Recently our smart contract was attacked. As a result the GOLD token smart contact (developed by Ambisafe) will undergo extensive security audit. Once the audit is competed a new contract will be created and user balances that existed prior to the first hacking activity restored...

Of course is very sad info for Digital Gold project but I have trust in the team that they will resolve this situation.

As for now we need to wait for more updates but i am happy that my tokens are not compromised, only the price on exchange dropped not a big thing to be honest.

Especially if we can still sell at the good price on marketplace. Let's give them some time to fight the hacker. Fingers crossed team.

Dear wwzsocki,

You don’t have to worry about your funds. They are in a safe place. The next steps will be: creating a new smart contract, checking it, transferring the GOLD tokens to the holders’ wallets of the new smart contract.

The price has not changed. It is still 1 GOLD token equal to 1 gram of gold. The marketplace will work when the new contract will be created.

Regards,
Support Team @ Digital Gold
https://gold.storage

[Leviathan.007]

So sad to see the contract address got attacked. But thanks god all the funds are safe.
Dear GOLD_official,
Do you know when the new smart contract will be created and ready to use?

[GOLD_official]

So sad to see the contract address got attacked. But thanks god all the funds are safe.
Dear GOLD_official,
Do you know when the new smart contract will be created and ready to use?

Dear LEviathan.007,

I do not know this, since I am not in a dev team. But I know for sure that it is not necessary to rush devs in creating a new smart contract.

By the way, as a GOLD token user, I have my own questions. The Digital Gold LTD did not try to save money by creating smart contract on its own. They ordered such development by a large blockchain company then they gave the smart contract for the audit to the leaders in that sphere. Why that two companies made such big mistakes in their professional activities?

Regards,
Support Team @ Digital Gold
https://gold.storage

[Leviathan.007]

Dear LEviathan.007,

I do not know this, since I am not in a dev team. But I know for sure that it is not necessary to rush devs in creating a new smart contract.

By the way, as a GOLD token user, I have my own questions. The Digital Gold LTD did not try to save money by creating smart contract on its own. They ordered such development by a large blockchain company then they gave the smart contract for the audit to the leaders in that sphere. Why that two companies made such big mistakes in their professional activities?

Regards,
Support Team @ Digital Gold
https://gold.storage

Thanks for the answer,
Yes, no rush. Let them have enough time for creating the new contract and get it ready for the testing phase to make sure this won't be happen again.
All I can say regarding your question is you can not create a 100% secure smart contract, even the biggest and most experienced companies and devs make mistake some time, there is always a vulnerability and the attackers will find and abuse the vulnerability. In the other hand, Digital Gold is a valuable project, so, It's not surprising to see the smart contract got attacked. However, I believe after creating the new contract the team should spend some time for testing and scanning for the possible vulnerabilities to make sure about everything and increase the security level.

[wwzsocki]

You don’t have to worry about your funds. They are in a safe place. The next steps will be: creating a new smart contract, checking it, transferring the GOLD tokens to the holders’ wallets of the new smart contract...

Two more questions, can we still use Digital Gold Marketplace? Is it still functional and what with trading on exchanges?

[tbct_mt2]

Two more questions, can we still use Digital Gold Marketplace? Is it still functional and what with trading on exchanges?

The marketplace will work with the new smart contract, not now.

The marketplace will work when the new contract will be created.

The Digital Gold LTD did not try to save money by creating smart contract on its own. They ordered such development by a large blockchain company then they gave the smart contract for the audit to the leaders in that sphere. Why that two companies made such big mistakes in their professional activities?

It is all about professional management for your business. The company provides Vault for gold bars is trusted too. The recent problem with smart contract is from the provider and I appreciate your team solutions to try to order a new smart contract from another big tech company.

[GOLD_official]

You don’t have to worry about your funds. They are in a safe place. The next steps will be: creating a new smart contract, checking it, transferring the GOLD tokens to the holders’ wallets of the new smart contract...

Two more questions, can we still use Digital Gold Marketplace? Is it still functional and what with trading on exchanges?

Dear wwzsocki,

Please do not make any transactions with the GOLD token before the new smart contract release. The new smart contract will replace GOLD tokens in your wallet. After that, you can buy and sell them again through our marketplace or crypto exchanges.

Regards,
Support Team @ Digital Gold
https://gold.storage

[bf5580]

Hello. Unfortunately, I cannot see my balance on Bitforex. Do you understand? I want to be sure to be safe.

[GOLD_official]

Hello. Unfortunately, I cannot see my balance on Bitforex. Do you understand? I want to be sure to be safe.

Dear bf5580,

Please create the support ticket on Bitforex exchange. They will tell you the details about that.

Regards,
Support Team @ Digital Gold
https://gold.storage

[wwzsocki]

...

Thank you very much for fast answer, fingers crossed, I hope you will resolve this situation very fast and professional as always.


Anybody traded on exchanges? Is this still possible deposit, withdraw, is trading suspended as for now?

Hello. Unfortunately, I cannot see my balance on Bitforex...

Understand that Bitforex was the only one exchange that suffered the dump and price crash?