Bancor Network Token (BNT) with ‘massive malicious attacks’ raised more than $125 million USD

Bancor Network Token (BNT) fundraising took off with a dramatic start. Due to massive malicious attacks on network & resulting pending transaction bottleneck, BNT allocation event minimum time had to be extended to 3 hrs. which was initially decided as 1 hr.

BNT fundraising participation was extensive; the sale was huge. Many buyers waited for even more than half an hour to get the transaction through. Image shared by MyEtherWallet will leave everyone speechless.

bancor2

Bancor is already the one of the biggest crowd-sale in history with over $70M worth of Ethereum raised in its first hour. BNT managed to raise 396,720 ETH (worth more than $125 million USD), 396.7M BNT fundraiser token allocation with total 793.4M BNT supply.

However, a few people showed their loss of confidence in BNT because of violation of the ‘ICO rules’ during the fundraising, a few also demanded refund. They were unhappy with the extension of the minimum event time from 1 hour to 3 hours. ‘Malicious attack on the network’ was controversial in the community. Many believed that it was a hype created to increase the time line as no evidence of the attack was found

Nick Jhonson, from Ethereum.org tweeted,

To the best of my knowledge, there’s no malicious attacks ongoing on Ethereum at the moment. Pending TXs are mostly to you.

Changing the rules in the middle of a game is not so common in cryptocurrency fundraisers so far. It certainly dented the reputation in the community.

Well, overall we can say that ICO fever is still on. It will be really interesting to see what happens to the price once it opens up for trading.

For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, steemit and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

Subscribe to EtherWorld.co