The “Origin Protocol” project based on blockchain technology confirmed that it was hacked and millions of dollars worth of cryptocurrency were stolen.

The stablecoin OUSD is run by the Origin Protocol project, according to to source The losses were estimated at about $7 million from Ethereum and DAI.

For information, the company launched the digital stablecoin OUSD in September of this year.

in official postMatthew Lowe, founder of the Origin Protocol project, stated that out of the $7 million in stablecoins hacked, about $1 million were made by the company’s founders and employees.

The company added that the quick loan deal was the main reason behind the attack.

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The blog post notes that the attacker used “Tornado cash” and “renBTC” to launder and transfer money.

The management of the “Origin Protocol” project acknowledged the existence of a loophole and an error in re-entering the contract, as the attacker exploited the verification process, to pass on a fake stablecoin.

According to the “Origin Protocol” project management statement:

In the past few hours, we have made progress in understanding the attack and tracking the flow of funds from OUSD wallets to the attackers’ wallets.

We will be taking comprehensive action in the next few days in an effort to recover lost user funds before discussing a compensation plan for affected OUSD holders.

As a reminder, please do not buy OUSD on Uniswap or Sushiswap because current prices do not reflect the base value of OUSD.

The company “Origin Protocol” also left a message to the hacker telling him, or rather begging him to return the money, and the content of the message came:

We ask the hacker to do the right thing and return the money.

You have proven your superior skills as a hacker, and we are pleased to hire you as a security consultant.

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If you return 100% of the money, we promise not to prosecute you or take any legal action against you.

We humbly ask you to think of the hundreds of innocent people you hurt and return the money.

The value of the stablecoin has dropped significantly in the market.

The founder dismissed rumors of internal fraud or the rug being pulled from under users’ feet and said the company was not going anywhere because of the hack.

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