March 28, 2023

Hackers attacked the bZx service twice. Stolen Ethereum in the amount of $ 1 million

The developers of the DeFi protocol suspended their smart contract and explained what happened. IN community criticized startup team.

Hackers conducted two attacks on the bZx service, inAs a result, they managed to seize the Ethereum cryptocurrency in the amount of almost $ 1 million. The project published a detailed analysis of what happened, with a detailed description of how attackers were able to steal 3581 ETH.

The costs of the offender for the first attackamounted to $ 8.71 paid as transaction processing fees. BZx said it was integrating Chainlink service systems to avoid a similar situation in the future.

In the second case, the attack was carried out by manipulating the oracles, said project founder Kyle Kistner. He added that she was neutralized in the same way as the first.

After the incident, the company was criticized in the cryptocurrency community. For example, the creator of Litecoin, Charlie Lee, said that he did not believe in the future of DeFi, since they “absorbed the worst from two worlds.”

“This is just a demonstration of decentralization. No one can roll back a hack or exploit, unless we increase centralization. Why then are they better than what we have now? ”Asked Lee.

In early February, the amount of blocked funds in the DeFi market reached $ 1 billion. Since then, it has stably been above this mark, and since December, the figure has increased by about 50%.