July 21, 2024

Hackers robbed $ 25 million decentralized financing protocol

Hackers robbed $ 25 million decentralized financing protocol

As a result of hacking the dForce decentralized financing protocol, attackers managed to withdraw $ 24.9 million in bitcoins and ether from his wallets, which amounted to 99% of his assets.

The attack was carried out on Sunday morning at the block9899681. The project team is still looking for a vulnerability that hackers used to crack. After the attack, only 2.6 MTC and 101 ETN remained in the accounts of the protocol, for a total of about 18.9 thousand

However, the scheme is reminiscent of the January robbery of the decentralized exchange Uniswap, when using the imBTC token (backed byand dForce) the fraudster stole $ 300 thousand, repeatedly requesting the withdrawal of funds from the smart contract before updating the external balance. A similar algorithm was also used when breaking the DAO in 2016.

DForce CEO Mindao Young saidthat hackers contacted the project team and are currently negotiating. At the same time, the company also turned to law enforcement agencies and crypto-exchanges for help in several jurisdictions.

Recall that in February, the DeFi lending protocol bZx was hacked twice in less than a week.