• Mon. Jun 17th, 2024

DeFi Platform Breach: Tornado Cash Swirls Away with 442 ETH from Sturdy Finance

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ByMarcel Bich

Jul 3, 2023
DeFi Breach: Tornado Cash Steals 442 ETH
Marcel Bich
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A blockchain security analytics firm called PeckShield discovered a suspicious manipulation on the decentralized money platform Sturdy Finance. Experts claim that attackers used the vulnerability to influence pricing rather than breaking into the smart contract.

What Actually Happened at Sturdy Finance?

The location where the con artists sent the money was located by PeckShield. Furthermore, Tornado Cash cryptomixer has already received 442.6 ETH from it. The assailants withdrew $768,000 as a result, based on the current currency rate.

The Sturdy Finance team recognized the attack and halted all trading while an inquiry was underway.

“We are aware that the Sturdy protocol has been attacked. There is now no need for user action because all markets have been frozen and all money is secure.”

However, the business made no more mention of how the hack happened or how the attackers affected platform costs.

There was no more information concerning the DeFi-platform attack at the time this article was written.

Hackers Hijack DeFi

The De. Fi Rekt reports that nine cryptocurrency projects have been impacted this month by hacks, vulnerabilities, and frauds. On June 4, the largest event happened. Cryptocurrency worth $35 million was stolen by hackers who gained access to Atomic’s wallet. A flash credit hack on the Cellframe network and five thefts of Binance Chain tokens were also reported.

Over half of the $76.6 billion lost as a result of breaches, vulnerabilities, thefts, and fraud may be attributed to the Terra/Luna ecosystem’s collapse in May 2022.

 
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Marcel Bich

Marcel ‘s passion for the world of cryptocurrencies and his comprehensive knowledge of blockchain technology make him an invaluable asset to our team. He stays updated on the latest trends, regulations, and emerging technologies in the crypto space, ensuring that our audience receives accurate and up-to-date information.