According to reports from analytics firm PeckShield, decentralized exchange (DEX) protocol NonSwap was hacked and lost more than $1 million through 2 altcoins. Meanwhile, attacks on decentralized finance (DeFi) protocols do not stop.

NonSwap attackers steal 2 altcoins

PeckSheild found that NonSwap attackers stole 535,000 Tether (USDT) and 158 Wrapped Ethereum (WETH). USDTs were converted to ETH via the distributed network service 1inch (1INCH) and also transferred from Ethernet Square to the anonymous trading platform Tornado Cash. Tornado Cash is an unattended privacy solution for the Ethereum network based on zkSNARKs technology.

https://twitter. com/peckshield/status/1438061295534698498

The protocol enables users to disconnect in on-chain activity to improve transaction confidentiality between recipient and destination address. Hackers can also lose track of them in this way. Hackers used an invalid ‘K’ value check in the NowSwap double contract to attack the protocol.

DeFi hacks keep pace: Here are some recent hacks

Cryptocoin. com

As we reported , the DeFi hacking trend is spreading like wildfire and protocols are afraid that they may be the next victim. Recently, CREAM Finance has suffered directly from Defi protocol exploit for the first time. In the attack on August 31, C. R. E. A. M. lost 462,079,976 AMP tokens and 2,804,96 ETH tokens.

PolyNetwork, the cross-chain DeFi protocol, suffered the largest DeFi hack worth $610 million. The protocol was hacked on August 10, and the hacker managed to override the “accountants” permission. The hacker transferred the stolen funds to three different Blockchain wallets of Ethereum, Binance and Polygon. Most of the funds have been converted to USDC, USDT and BUSD stablecoins. However, the attacker recently returned all the money via a private key.

Following the PolyNetwork hack, Neko Network was also hacked and lost over 2 million stablecoins. The address of the Neko Network attacker received 2 million USDT, 390,000 BUSD and 1 BTCB. Dao Maker, a kidollarse funding platform, was also hacked last month, losing over $7 million USDC which was later converted to 2,261 ETH. According to one estimate, 9,000 to 10,000 USDC accounts on DAO Maker may have been affected by the hack.

Like it? Share with your friends!

Michael Lewis


Your email address will not be published. Required fields are marked *