InsureX has announced that due to security attacks on its system it has halted its crowdsale with immediate effect, two days after starting its sale.
Founded in 2017, the London-based insurance blockchain startup had only launched the opening of its ICO crowdsale on the 11th July, becoming the first blockchain-based marketplace to be utilized for the trade and management of insurance products.
However, on the 13th July, the company announced that because of security attacks on its system over the last two days they had decided to stop the sale.
This action is not taken lightly but is necessary to protect existing IXT holders and stakeholders of InsureX. We have been working around the clock to keep the token sale open, but the sheer number of attacks is now overwhelming.