Other

"Government and Tencent-backed Aussie blockchain firm collapses"

2023-05-08 [vendor] Everledger
Primary Source ↗

Incident Details

Everledger was an Australian company that hoped to use blockchains to track provenance of diamonds, other precious gems, fine wines, and other luxury goods. Things apparently didn’t pan out, though, when an investor’s planned funding fell through and the company was placed into voluntary administration.Everledger had in the past raised US$37 million in funding. AUD$3 million (~US$2 million) of that funding came from the Australian government’s blockchain grants program in 2021.

Technical Details

Initial Attack Vector
Protocol collapse / insolvency
Vendor / Product
Everledger

Timeline

  1. 2023-05-08 Breach occurred
  2. 2023-05-08 Publicly disclosed