December 11, 2023

Hackers stole $ 7 million from DAO Maker crowdfunding platform

The attackers converted the stolen USDC to Ethereum to prevent the stablecoin issuer from freezing the assets.

Hackers attack DAO crowdfunding platformMaker and withdrew $ 7 million in USDC stablecoins from it. This was announced by the analytical service PeckShield. The information was later confirmed by crypto journalist Colin Wu. According to him, the attackers converted the stolen funds into Ethereum.

According to Etherscan, cryptocurrencya wallet owned by hackers, at 18:10 Moscow time on August 12, 2261 Ethereum ($ 7 million) is stored. Wu notes that the stolen funds were converted to prevent the USDC stablecoin issuer from freezing the assets.

DAO Maker platform representatives reported inhis Telegram channel that the attack only affected the custodian smart contract. DAO tokens and staking assets were not affected by attackers, DAO Maker representatives assured. Since the morning of August 12, the DAO Maker token has fallen in price by 15%. Its price dropped to $ 1.65.

On August 10th, hackers hacked the Poly Network protocoland stole $ 611 million. It is currently the largest in the DeFi industry. On the evening of August 11, it became known that the attackers began to return the stolen funds. As of 18:00 Moscow time on August 12, the hackers returned $ 260 million to the Poly Network developers.