Hackers have stolen Ethereum coins that amount to over $1m in value via the crypto startup BeeToken, after they targeted the company\'s initial coin offering.

Hackers attacked BeeToken\'s ICO using phishing attacks, and duped investors into transferring their crypto to an Ethereum address that had been set up by cybercriminals.

BeeToken warned its users via social media not to respond to any messages or emails asking them to transfer their cryptocurrency. Currently, reports state that there are a number of phishing emails in circulation that BeeToken users need to watch out for.

In a recent announcement, directed at its users, BeeToken stated that they would \"never ever\" share an Ethereum address with customers in an email. They also stated that they would not use QR codes in any emails or messages.

The company also set out to discredit assertions made by the hackers in their phishing emails, to help users distinguish the difference between genuine and suspect communications. BeeToken affirmed that they will not provide 100% bonuses; they also said that they have no intention of accepting over 0.3 ETH during the first day of their Token Generation Event. Discrediting a further claim made by hackers, the company asserted that they had no future plans to partner with the tech giant Microsoft.