DeFi platform Grim Finance reported that hackers exploited a smart contract error and compromised wallets, withdrawing $ 30 million worth of tokens.
Cryptocurrency platform Grim Finance, launched on the basis of Fantom Opera, announced on December 19 on Twitter that it had been subjected to a hacker attack. As a result, more than $ 30 million worth of cryptocurrencies were stolen from the platform. The operator did not provide more detailed information about which tokens and in what volumes were withdrawn from the platform.
Hackers gained access to the platform’s wallet through the beforeDeposit () function using a malicious token contract. The exploit was found in a cryptocurrency wallet contract. Therefore, Grim Finance has suspended accepting deposits to wallets in order to protect users’ money from the potential risk of withdrawal by hackers.
The developers asked users to quickly withdraw assets from the platform, since all wallets are compromised and money is under threat of a hacker attack. The operator told Circle (USDC), DAI and AnySwap the attacker’s address to block further illegal transfers of tokens from the platform.
The project thanked companies such as Beefy, Tomb, SpiritSwap and FTM Alerts for providing information on the cyberattack. Grim Finance did not report on contacting law enforcement agencies or actions aimed at identifying intruders. The company warned users that all information on the investigation of the incident and the resumption of the platform’s work will later be posted on the official resource of Grim Finance.
This week, the gaming service Vulcan Forged lost about $ 100 million as a result of a hacker attack. In early December, hackers stole over $ 150 million in cryptocurrencies from the Bitmart exchange.
Crystal Blockchain Research analysts recently prepared a report on hacks and fraud in the cryptocurrency industry for the period from 2011 to 2021. At the end of the decade, the total equivalent of cryptocurrencies stolen by hackers exceeded $ 12.1 billion.
