Trade.io

Trade.io, also known as Trade Token or TIO Exchange, was a cryptocurrency exchange platform headquartered in Switzerland. The organization issued its own native cryptocurrency, the TIO token, and maintained corporate liquidity reserves, which were held in cold storage. Its operational scope involved facilitating the trading of digital assets, with the TIO token central to its ecosystem. The platform's services were accessible to users engaged in cryptocurrency markets, though specific geographic reach or user base metrics are not provided in the available information. The company's structure and ownership details are not disclosed in the given context.

In October 2018, Trade.io experienced a significant security incident where approximately 50 million TIO tokens, valued at $7.5 million, were unauthorizedly withdrawn from a cold storage wallet associated with its corporate liquidity reserves. The company confirmed these assets were held in bank safety deposit boxes as corporate funds, separate from customer holdings, and reported no compromise to the physical storage itself. In response, Trade.io collaborated with exchanges Bancor and Kucoin to suspend all TIO transactions and trading during the investigation. The organization proposed implementing a token fork to invalidate the stolen assets and mitigate market impact, while stating that its regular platform operations continued unaffected. This event highlighted the security challenges associated with managing digital asset reserves for a cryptocurrency exchange.