Home News Grim Finance exploited for $30M

Grim Finance exploited for $30M


The team of decentralized finance (DeFi) platform Grim Finance reported a hacker attack, as a result of which the attackers stole $30 million.

Thus, hackers gained access to the Grim Finance wallet using a malicious token in the contract, using a “reentrancy” exploit. According to the project, all wallets have been compromised and assets are currently under threat.

Moreover, the developers have suspended accepting deposits and urged users to withdraw funds from the platform immediately. The Grim Finance team also contacted Circle, AnySwap and DAI. And reported the attacker’s address to block further illegal transfers of funds. On the platform, the hack resulted in a mass outflow of total value locked (TVL). Grim Finance has only $4.3 million in its vaults, and TVL has dropped 84 percent in the last 24 hours.

The Vulcan Forged NFT marketplace hack

Earlier, attackers compromised 148 wallets of users of the Vulcan Forged non-fungible token (NFT) marketplace and stole tokens worth $100 million. According to the company, hackers gained access to users’ private keys.

The team stressed that it had already asked the exchanges to blacklist the address of the wallet associated with hacking. They also reported that at one of the sites its owner could undergo the KYC procedure. But Vulcan Forged has not yet disclosed details.

In addition, the marketplace promised to compensate all the stolen PYR tokens and other coins if the attackers stole them. Therefore, the platform team has started developing a fully decentralized wallet configuration solution.

AscendEX hot wallets

Recall that previously in December, hackers withdrew more than $77 million from AscendEX hot wallets.

Furthermore, AscendEX promised to compensate for all the funds lost by users. Bitcoin exchange Huobi promised support to colleagues in eliminating the consequences of the attack.

PeckShield noted that hackers withdrew $77.7 million from the cryptocurrency exchange. According to analysts, the attackers stole $8.5 million in Polygon network tokens, $9.2 million — BSC, $60 million — Ethereum.

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