OMNI platform lost $1.4 million in ETH as a result of a cyberattack

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Blockchain security company PeckShield reported that the OMNI platform suffered a re-entry attack, with 1,300 ETH worth about $1.4 million being withdrawn from the platform.

The project lost money due to unscrupulousposting NFTs from the Doodle collection. To carry out the attack, the attacker first deposited the NFT as collateral for a loan in wETH. Once the loan was secured, the hacker removed all but one of the NFTs. This triggered a callback function that canceled the debt incurred when purchasing wETH.

After this, there are no more NFTs remaining on the platformenough to cover the resulting debt. Therefore, the position was liquidated by the system and the last NFT from Doodle was returned to the hacker. The OMNI team said the exploit did not affect customer funds because the misappropriated wETH were “internal testing assets.”

"OMNI is still in the stagebeta testing. No customer funds were lost, only internal testing funds were affected. "We have suspended the OMNI protocol until we complete our investigation and review by external security and auditing firms," ​​the statement said.

Let us remind you that last month, hackers, through the account of a PR manager, hacked the Discord of Bored Ape Yacht Club and stole NFTs worth $340,000.