Home News Animoca Brands’ Lympo NFT platform hacked for $18M

Animoca Brands’ Lympo NFT platform hacked for $18M

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Hackers withdrew 165.2 million LMT tokens worth about $18.7 million at the time of the hack from the hot wallets of the sports non-fungible token (NFT) platform Lympo, a subsidiary of Animoca Brands.

Thus, according to the project team, the attackers compromised ten wallets:

0x5D32b87A43a2bd1f7df209d2F475b165d2c09E24

0x526232F70b97938E19394e57BC5eE1d5d929074e

0xB0a60eBA24f6CF18CFDED0672c5C7a7529DcC342

0x934dd62782BFe4a8E3f096E014266e5F5adc1b2a

0x877eECC3Ae4Bb28f048c16CD65A44cDE025345a1

0x36d97147cF8E1B75254748Cf0A102316fCc61697

0xA432C0081307733e801Ea7877e725F4E0adfbBfF

0x4b936321b0E3E2d919412502B6aDA09E9b7d484b

0x75912Da145cA00092AF317F8c3A84073A5665256

0x4C801611cdaB559861d4dB24155927F903DEa02A

In response to the attack, Lympo took a number of measures to prevent further losses. LMT tokens are temporarily withdrawn from various liquidity pools to minimize the impact on the price of the token after the hack.

Hackers exchanged most of the stolen assets for Ether

Moreover, the team noted that most of the reserves are in cold storage and are not affected by the incident.

“The attack is still being investigated, but we assure all LMT token holders that we are working hard to resume normal operations as soon as possible. We are preparing a comprehensive plan on how the effects of this attack will be remediated and will share it with our community as soon as it’s available,” said Lympo.

Presumably, the hackers exchanged most of the stolen assets for Ether (ETH) on the Uniswap and SushiSwap platforms. Furthermore, the price of LMT collapsed to $0.0093 after the hack – by about 92%.

Hot wallets hack

Previously, hackers attacked the hot wallet of LCX cryptocurrency exchange registered in Liechtenstein. The company reported the loss of ERC-20 tokens during the attack. LCX estimated the damage from the hackers’ actions at $7.94 million

Recall that earlier in December 2021, hackers withdrew more than $77 million in cryptocurrency from the hot wallets of the Singapore AscendEX exchange. In the same month, hackers withdrew more than $150 million from the Ethereum and BSC hot wallets of the BitMart cryptocurrency exchange registered in the Cayman Islands.

According to Crystal Blockchain, over the past ten years, the cumulative damage to cryptocurrency platforms and their users from the actions of hackers and scammers exceeded $12 billion.

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