The “Roll” cryptocurrency platform was hacked and $5.7 million in Ethereum was stolen… Details here
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Answer The “Roll” cryptocurrency platform was hacked and $5.7 million in Ethereum was stolen… Details here
The most important challenges facing the crypto market, the hacks and technical problems that hackers exploit to steal cryptocurrencies.
The Roll Network allows users to mint unique branded digital tokens, in order to generate value and provide a way for fans and followers to demonstrate loyalty.
Yesterday, March 14, hot wallets on the Roll platform were attacked, draining all the tokens that the hacker transferred to Ethereum using Uniswap, according to the announcement.
In an explanatory blog post, Roll said it believes the incident was the result of an accidental assignment of private keys to its hot wallet, rather than an error in its smart contracts.
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Earlier today, the private keys of our hot wallet were hacked.
We are investigating this with the infrastructure provider, security engineers and law enforcement.
In addition, we are raising $500,000 for creators affected by this. pic.twitter.com/93pfyRGhi2
– Roll (tryrollhq) March 14, 2021
3000 Ethereum stolen from Roll
Blockchain analyst Igor Igamberdev researched the theft, then stated Bsay:
The attacker obtained approximately 3,000 ETH, worth about $5.7 million.
Already 700 social tokens have been sent to the “Tornado Cash” mixer to mix and hide digital traces.
Some of the codes affected by the theft include:
“WHALE”, “MORK”, “JULIEN”, “CHERRY”, “FWB”, “KARMA”, “ALEX”, “KERMAN”, “Skull”, “HUE”, “FIRS”.
One user of the platform and its creator, Maxim Hackward, commented, expressing his regret for the loss, saying:
I’m a content creator and our community just lost it all.
The PICA token went to 0.
It can be said that I lost my salary for several months.
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As smaller creative communities, we expect only more than this.
We hope for a full refund of what we lost.
But trust will be seriously damaged in any case.
User “Igamberdiev” indicated that it was possible that it was an insider scam, in which the private keys were handed over and that the victim gave consents to carry out the transfer function, stating as follows:
The facts point to a possible hack of the private key or an internal function.
Roll has apologized and announced a $500,000 fund to help creators and their communities.
It is hard to describe in words how devastating this is.
We are really sorry for what happened.
We take security seriously and strive to earn the trust of creators and communities with their social money but today we’ve missed it.
Social Digital Token Price Collapse:
Social icons provide a means for artists, content creators, and even celebrities to create followers for their fans and those who want to buy artwork or memorabilia.
As expected, the value of these digital tokens was severely affected after the hack.
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The digital token “WHALE” with a market capitalization of $155 million was affected, dropping 25% on the day.
While MORK collapsed by 72%, FWB fell by 96%, and KERMAN fell by more than 40%, according to social digital token tracker Coingecko.
Read also:
Five practical ways to protect your cryptocurrency wallet
How to protect the computer used for cryptocurrency trading
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