bt-crow.com Crypto-News
30 November 2021 15:21, UTC
Reading time: ~ 2 m
A hacker withdrew $ 31 million worth of crypto assets from the Polygon-based MonoX platform. The Block analyst Igor Igamberdiev drew attention to this.
I even started to get a little bored, but half an hour ago $31M were stolen from @MonoXFinance on Polygon and Ethereum.
— 5.7M MATIC ($10.5M)
– 3.9k WETH ($ 18.2M)
— 36.1 WBTC ($2M)
— 1.2k LINK ($31k)
— 3.1k GHST ($9.1k)
— 5.1M DUCK ($257k)
— 4.1k ME ($4.1k)
— 274 IMX ($2k) pic.twitter.com/BjtW7UlG6b– Igor Igamberdiev (@FrankResearcher) November 30, 2021
According to the observations of the researcher, the attacker kidnapped:
- 5.7 million MATIC tokens (worth approximately $ 10.5 million);
- 3900 WETH ($ 18.2 million);
- 36.1 WBTC ($ 2 million);
- 1200 LINK ($31 000);
- 3100 GHST ($9100);
- 5.1 million DUCK ($ 257,000);
- 4100 ME ($4100);
- 274 IMX ($2000).
Shortly after Igamberdiev’s tweet, MonoX representatives confirmed the hack.
This morning our contract has been exploited. We are sorry to our users who have deposited funds. The team is investigating and will try our very best to get the stolen funds back. We thank our community for your support.
— MonoX (@MonoXFinance) November 30, 2021
The developers have apologized to the investors. According to them, the incident is being investigated and measures are being taken to recover the funds.
MonoX representatives soon explained that the attacker managed to raise the price of the MONO token to the skies using a swap contract, and then purchase “all other assets in the pool” for it.
A method in the swap contract was exploited and boosted MONO token price to sky-high. The attacker then used MONO token to purchase all the other assets in the pool.
— MonoX (@MonoXFinance) November 30, 2021
Recall that in early November, the DeFi platform bZx lost $ 55 million as a result of the hack.
#DeFiplatform #MonoX #lost #million #result #hacking
