Hacker stole $ 2 million by hacking Akropolis DeFi protocol

Hacker stole $ 2 million by hacking Akropolis DeFi protocol

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Contents

Hacker stole $ 2 million by hacking Akropolis DeFi protocol
CONTENT

  • This is not the first DeFi protocol to suffer from an attack despite an audit.

  • Attacker withdrew about $ 2 million in DAI stablecoin

  • Capitalization of all protocols in the DeFi segment reaches a record level of $ 13 billion

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The attacker was able to steal about $ 2 million in the DAI stablecoin, according to the developers of the decentralized protocol Akropolis

An unknown attacker stole about $ 2 million in DAI stablecoin from the decentralized finance protocol (DeFiDecentralized Finance (DeFi) – this is financial services, technology-based blockchain, which offer users access to an open, efficient and … More) Akropolis. The developers of the protocol announced this on their official Twitter page. According to the official report, the hacker was able to break into smart contracts of savings pools despite repeated audits.

“We found smart contracts hacked in ‘savings pools’ that were audited twice,” wrote the developers.

The creators of the project claim that cryptocurrency staking pools remain safe. According to preliminary data, the hack affected only the Curve Y and Curve sUSD savings pools.

Update. Against the background of news about the hacking of the protocol, the price of the AKRO project token fell by more than 25%.

 

Source: coinmarketcap.com

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According to BeInCrypto, the contract was hacked on Thursday, November 12 at 15:05 Moscow time. The attacker has consistently carried out targeted attacks on Curve savings pools. In addition to the above attacks, the attacker also spent $ 2 million worth of Curve in DAI tokens by transferring assets to a different address. At the time of this writing, the stolen funds remain on the attacker’s account.

Source: etherscan.io

According to the description of the project on CoinMarketCap, the Akropolis project was founded in 2017 by Russian women Ekaterina Kurbanova and Anastasia Andrianova. The project was conceived as a distributed pension and savings fund resulting from the “inevitable collapse of the state pension system.” However, in August 2020, the company announced that it had shifted its focus to laying the foundation for the new AkropolisOS commercial capital pooling system..

Hacker stole $ 2 million by hacking Akropolis DeFi protocol

Quality assurance

It is noteworthy that this is not the first DeFi protocol verified by the auditing company CertiK, which has suffered at the hands of cybercriminals. Previously, other DeFi projects verified by CertiK, such as the stablecoin issuer Lien and the bZx lending protocol, have also been hacked..

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However, frequent hacks of DeFi projects do not at all alienate the capital of individual and large investors. The BeInCrypto editorial staff previously reported that the total capitalization of all protocols in the DeFi segment reached a record level of $ 13 billion, amid the rapid growth in the price of tokens.

Why and how the DeFi market will gain worldwide popularity in 2021 – read in a special material from BeInCrypto.

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Hacker stole $ 2 million by hacking Akropolis DeFi protocol

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