An error in the codebase of the pNetwork DeFi gateway platform allowed an attacker to steal 277 bitcoin-backed bBTC tokens worth more than $ 12 million.
The project team did not disclose the details of the attack.but reported that it had discovered the vulnerability and took steps to fix it. Adding that the error allowed the hacker to gain access only to the Binance Smart Chain bridge and the rest of the funds are completely safe.
pNetwork also announced that it would pay the attacker a reward of $1.5 million if he returned the stolen funds.“Unfortunately, searching for vulnerabilities ispart of the game, but we all want to see the DeFi ecosystem continue to grow and returns – this is a step in this direction,” – said in the message.
As a result of the incident, the price of the control token of the PNT platform itself fell by more than 18%.
pNetwork is the internet protocol formoving digital assets between different blockchains. It does this by creating so-called wrapped tokens backed by the underlying cryptocurrency, which can then be used to earn money in decentralized finance projects.
Just last week, an unknown person tried to attack the Ethereum blockchain by adding 550 new blocks to the blockchain without proof of work done.
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