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

Animoca Brands’ Lympo NFT platform hacked for $18M


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:











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 LMT tokens are temporarily withdrawn from various liquidity pools to minimize the impact on the price of the token after the hack.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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