New DeFi hack hits 10+ projects and steals US$ 8 million

New DeFi hack hits 10+ projects and steals US$ 8 million" title="New DeFi hack hits 10+ projects and steals US$ 8 million" />

The most recent attack, which took place last Saturday (10), would have resulted in losses of approximately US$ 8 million (R$ 42 million).

ChainSwap representatives warned its users from their official Twitter account to not purchase any tokens native to the platform, ASAP, while investigating the attack.

Less than an hour later they published another tweet, warning users that they had captured the state of all token and LP wallets prior to the hack. They also stated that they would establish a compensation plan for lost tokens.

The attack would have affected more than 10 projects. Decentralized oracle Umbrella Network had over 3 million of its UMB tokens stolen. Meanwhile, hackers were also targeting projects like Antimatter, Dafi, Blank, Razor, and Oro.

The hack also affected Option Room, a user-controlled projection protocol. according to a saturday tweet, the attackers stole US$ 550,000 of its native token ROOM.

News most recent from ChainSwap revealed that the team froze the token mapping address of Binance Smart Chain (BSC), in an attempt to filter out the hackers' addresses.

“The smart contract was affected, but not the wallets that interacted with Chainswap. Individual wallet funds are safe,” the platform declared.

Since the hack, the ASAP price dropped considerably. Late on July 10th, the token took a sharp drop from a consistent position around the US$ 0.28 mark to US$ 0.22 in just five minutes.

It has since failed to regain that position, falling further to lows of US$ 0.18. At the time of publication, ASAP is worth US$ 0.20.

first strike

The July 10 attack is the second of its kind on ChainSwap this month. In the early hours of July 2, the platform reported an offensive that cost them US$ 800,000 (R$ 4.2 million) in losses.

As per their compensation plan, the ChainSwap team, with the help of the police and OKEx, managed to find the attacker's email address and entered into negotiations with them.

These negotiations resulted in the return of Corra and RAI tokens. The ChainSwap team bought back the affected tokens from the marketplace and issued refunds.

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