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DOMAINS TOKEN-G

Ronald Maguire

08 June 2022 896 Read Crypto , Altcoins , Blockchain

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Elrond Blockchain Hacked, $1.65M Stolen

There has been a security breach on the Layer-1 blockchain Elrond. The hackers took $1.65 million worth of EGLD for free and sold it via Maiar DEX. Later, Maiar and related APIs were suspended by the authorities.

Exploiting the vulnerability in the liquidity of EGLD and weEGLD smart contracts, hackers exploited this vulnerability and seized large numbers of tokens. The hackers who stole the funds continue to hide their tracks by creating new addresses and transferring the funds to different networks. After the theft, the EGLD/USDC trading pair briefly dropped 95%.

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