Veritaseum Leader Reggie Middleton's Reply On $8M Hack.

Below is the link and copy of the statement.

https://t.co/df79EMulC1

We were hacked, possibly by a group. The hack seemed to be very sophisticated, but there is at least one corporate partner that may have dropped the ball and be liable. We'll let the lawyers sort that out, if it goes that far.

Although I hate to see assets stolen, and I hate theives, the incident proved both the resilient demand for our tokens and the utility of the decentralized exchange EtherDelta.

The hacker(s) made away with $8.4M worth of tokens, and dumped all of them within a few hours into a heavy cacophony of demand. This is without the public knowing anything about our last traction.

I would like to make it known that we had the option to fork VERI, but chose not to. At the end of the day, the amount stolen was miniscule (less than 00.07%) although the dollar amount was quite material.

Another point that I would like to make clear is that Veritaseum tokens are software that represent our knowledge, advisory and consulting skills, products and capabilities. Without the Veritaseum team, the tokens are literally wortheless! If someone were to someone confiscate 100% of the available tokens, all we need to do is refuse to stand behind them and recreate the token under a new contract. Again, we aren't selling currencies, we aren't selling securities. We are selling capabilities, and ability for those capabiliteis to connect parties P2P for the autonomous transfer of value. You can get away with a large securiteis heist, or a large currency heist. The Veritaseum team is what powers the value behind the Veritas token. A large theft of those tokens after a fork is as valuable as stealing 90M empty plastic cups.

The "marketcap" as the media likes to refer to, may seem high to those who don't understand how we employ platform economics, but those who understand should see that number as drastically undervalued. We have a roadshow for the NYC & Conneticut hedge funds next week. The Sr. partner of distressed credit of one of the world's largest funds specifically took the meeting after hearing about what we are doing. "This is big, very big" (that is an exact quote from the person who arranged the meeitng, who is a 40 yr veteran of Wall Streat, a literal brand name know by nearly every experienced professional - someone who had aggressively jumped on board team Veritaseum to assist in business development), for we are simultamesouly lining up private and sovereign credits to Veritize. This is in addition to what may be our final meeting with one of the world's top ten securities exchanges to use our product. That is in addtion to our Veritizing a medical practice as a showcase for doctors and healthcare biz pros around the world to emulate (using Veritas, of course). Think of us just capturing 50 basis points of all of the medical practices and related healthcare businesses in the world https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Life-Sciences-Health-Care/gx-lshc-2017-health-care-outlook-infographic.pdf
Which will actually scale exponentially with out financial industry dealings (assuming we can capture .02% of that http://www.investopedia.com/ask/answers/030515/what-percentage-global-economy-comprised-financial-services-sector.asp
We have already landed the Jamaican Stock Exchange as VERI client just 30 days after the initial token offering. Actually, quite amazing...

Now, you can see how inconsequential the mere hack of a few million dollars