6600 ETH ($1.5 million) was taken out of circulation due to a mistake in REX ICO contract

Some hours ago REX Token Sale was launched, and after 20 minutes the team realized something was awry with the contract transfer address. The ETH address used in the contract was indicated as Javascript hex and 0x03e4B00B607d09811b0Fa61Cf636a6460861939F was turned into 0x3e4b00b607d0980668ca6e50201576b00000000. This way the contribution of 6,687.6257271739995 Ether from the investors has been just burned.

Rex team acknowledged their mistake and promised to use his own funds to generate those missed tokens. However, they accumulated less than that till now. If there won't be enough investors (which is most likely due to this incident) they would lose more than gain during ICO.

The team will hold only 10% of tokens:

Weird that there's a bug bounty and nobody noticed such a trivial mistake. It states how fragile ethereum contracts are for organizing ICOs.

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