Home News DeFi-project pNetwork lost 277 BTC due to a hacker attack

DeFi-project pNetwork lost 277 BTC due to a hacker attack


The attacker exploited a code vulnerability and withdrew 277 BTC (about $12.7 million) from the cross-blockchain protocol of decentralized finance (DeFi) pNetwork.

“We’re sorry to inform the community that an attacker was able to leverage a bug in our codebase and attack pBTC on BSC, stealing 277 BTC (most of its collateral). The other bridges were not affected. All other funds in the pNetwork are safe,” the project announced on Twitter.

The developers offered the hacker a reward of $1.5 million for a refund, although they considered such a development unlikely.

Offer to the black hat hacker

“Finding vulnerabilities is part of the game unfortunately, but we all want DeFi ecosystem to continue growing. Returning funds is a step in that direction,” pNetwork tweeted, referring to the hacker.

Later, the developers announced that they had prepared a fix for this vulnerability. And they also expect the restoration of bridges between networks within “a few hours”.

At the time of writing, the team had not released any additional information about the exploit.

Zabu Finance and MISO Launchpad

Recall that on September 13, 2021, a hacker removed assets worth $3.2 million from the Zabu Finance DeFi protocol on the Avalanche blockchain. The price of the native token of the ZABU project fell to zero after the incident.

Zabu Finance found that a hacker used a vulnerability in a smart contract. Moreover, he successfully withdrew 4.5 billion ZABU, which he sold on Pangolin and Trader Joe’s, receiving about $600,000. The protocol also burned 93.12 million ZABU remaining in the wallets of the team and the treasury.

On September 17, an attacker stole 864.8 ETH (~$3.09 million at that time) ) from the auction of NFT on the SushiSwap protocol MISO IDO (initial DEX offering) platform. On the same day, he returned all the stolen funds, transferring them in three transactions to the SushiSwap address.

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