Cypher Protocol confronted a hack assault. The hacker drained practically $1 million and up to now the Cypher workforce did not persuade the hacker to return the funds.
Cypher is a decentralized finance (Defi) protocol on the Solana blockchain community. This Defi protocol gives margins utilizing Open Books order books and utilizing the asset agnostic order e book (AOB) to maximise worth discovery. There are another options of this protocol. For instance Margin buying and selling in spot markets, collateralized by USDC, BTC, ETH, and SOL.
Three days in the past, a hacker exploited the Cypher Protocol and drained $1,035,203 value of crypto property. The stolen crypto property embrace 38,530 Solana tokens (SOL) value about $23 every, in addition to $123,184 value of USD Coin (USDC) on the trade price of $1.00.
On 8 Aug 2023, The Cypher Protocol workforce knowledgeable about this incident publicly and confirmed that they’re working with some white hat hackers to research the incident.
On 9 Aug, The Cypher Protocol urged the hacker to return 90% of the stolen funds & hold 10% and in addition promised that it’ll not take any authorized motion if he’ll return the funds.
Immediately, the Cypher Protocol workforce prolonged the deadline for the hacker to return the funds by one other 24 hours and in addition confirmed that the hacker is in touch with the workforce.
SteaDefi Protocol
On 8 Aug 2023, We reported that SteaDefi Protocol was exploited & the hacker managed to build up practically 624 ETH.
The SteadDeFi workforce confirmed that they recovered $418k and now they’ll hint the hacker’s identification and in addition provoke authorized motion towards the exploiter.
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