Decentralized finance project “Neko Network” hacked and more than 2 million stablecoins were stolen
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Answer Decentralized finance project “Neko Network” hacked and more than 2 million stablecoins were stolen
Shortly after the attack and the unhealed “Poly Network” project hack, another decentralized finance project was hacked.
announce The “SlowMist” team that specializes in blockchain security says that the “Neko” project has been hacked, and more than 2 million stable cryptocurrencies have been stolen.
The hacker of the “Neko Network” project received 2 million USDT, 390 thousand BUSD and 1 BTCB.
Hackers used PancakeSwap to exchange stolen coins:
The attackers used the “Binance Smart Chain” blockchain-based “PancakeSwap” to exchange the stolen stablecoins with BNB.
2,871 BNB were returned to the network, out of a total of 6,390 BNB stolen.
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3519 BNB is still pending, although the intentions of the hackers do not indicate the possibility of returning the stolen amount.
The attackers kept transferring 100 BNB at a time, to the transaction mixing platform Tornado Cash.
The pirates have a total of 2,020 BNB left as of this Friday morning.
Attackers exploit a vulnerability in Neko’s lending protocol:
The hackers found a vulnerability in Neko Network’s lending protocol.
It is worth noting that the project is based on the Binance blockchain.
Hackers used this vulnerability in the protocol to mortgage assets in the name of users and the borrowed money was sent directly to the attackers’ address.
Neko network froze its pools, and couldn’t control the cryptocurrency due to the time lock setting, which takes 24 hours to develop the pool lock.
The pace of penetration of DeFi projects has become increasing, which made some experts sound the alarm that good protection is required, especially in light of the expansion of the use of various decentralized finance protocols and services, which have become carrying millions of dollars of users’ money.
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