Wednesday, December 7, 2022

Hacker Left Stolen $1M In Contract That Is Set To Self-Destruct

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A hacker left stolen $1 million on a smart contract that is set to self-destruct and apparently he was very excited by the success of his operation but ensured that crypto can never be moved so let’s find out more in our latest crypto news today.

In a rare comedic happening among DEFI exploits, the attacker fumbled the heist at the finish line and left behind over $1 million in stolen crypto. After 8 AM UTC on April 21st, the blockchain security and analytics company BlockSEC shared detected an attack on a little-known DEFI lending protocol dubbed Zeed which styled itself the decentralzied financial integrated ecosystem. The attacker exploited a vulnerability in the way that the protocol distributed the rewards and allows them to mint more tokens that are then sold and crash the price to zero but netted over $1 million for the exploiter. The analytics site PeckShiled noted the stolen crypto was transferred to the attack contract and a smart contract that quickly executes the found exploit.

The attacker was excited by the theft that they forgot to transfer more than $1 million worth of coins out of the attack contract before they set it to self-destruct and ensure the funds can never be moved. Using a blockchain scanner to see the attack contract address showing $1,041,237 worth of BSC-USD Binance Peg token is stuck in the contract and the successful self-destruction of the contract is confirmed on April 21.

The hacker left stolen funds in the smart contract and it is one of the most bizarre events since the Polygon hacked did an Ask me anything using messages on ETH transactions after stealing $612 million from the protocol in 2021 but the question and answer session revealed the attacker hacked for the fund and though cross-chain hacking is quite hot. The latest hack is on the smaller end about the amount stolen and other DEFI protocols hack whcih saw hundreds of millions drained off like the Ronin Hack where the attackers made off with $600 million.

Other notable DEFI exploits include the $80 million worth of coins stolen from Qubit Finance where the attackers tricked the protocol into thinking they deposited collateral allowing them to mint the asset representing bridge crypto. Deus Finance on the other hand was exploited when the hackers manipulated the price feed of a pair of stable coins resulting in the insolvency of the user funds that netted the hackers $3 million.

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