Monday, January 18, 19:32
Home security Hackers steal $ 8m worth of cryptocurrencies from DeFi bZX protocol

Hackers steal $ 8m worth of cryptocurrencies from DeFi bZX protocol

Hackers were able to break into the DeFi bZx lending protocol and steal $ 8 million worth of cryptocurrencies. This is not the first time - in the year - that the DeFi protocol has been attacked.

This time, the hackers were much more effective as they stole a huge amount of money from the trading and lending platform. The hackers took advantage of a vulnerability that gave them access to the USDC, USDT, ETH and LINK, worth a total of $ 8 million.

DeFi bZX hackers

Anton Bukov, a member of the bZx team, posted the news on Twitter and admitted that the company once again fell victim a hacking attack. He also said that the hacking started because of one error on the line code for a smart contract.

How the attack happened

The researchers investigated in depth attack to learn how hackers were able to break into the DeFi protocol again. The report showed that there was a vulnerability in the "transferfrom0 protocol", which allowed the successful transfer of ERC20 between protocols.

This facilitated the start of the function during creation and iToken portability. Hackers were able to start a transfer operation using the same form - as well as the address of the main operation. Shortly afterwards, they used an InternalTransferFrom function with a single parameter to convert the code to defective.

After stealing $ 8 million from the DeFi protocol, the bZx hackers immediately corrected the "defective code".

This is not the first time bZx has been attacked

It seems that bZx is facing various problems since it is not the first time it has fallen victim to one attack. According to a previous report, a hacker successfully stole $ 1 million in ETH in two successful attacks in February.

The first attack took place on February 14 and the second occurred four days later and the hacker apparently used two completely different methods of attack.

LEAVE ANSWER

Please enter your comment!
Please enter your name here

Teo Ehc
Teo Ehchttps://www.secnews.gr
Be the limited edition.

LIVE NEWS

Android: How to make Signal the default messaging app

Signal is a popular encrypted messaging application that focuses on privacy. It is an alternative to ...

Google Cloud: We use some SolarWinds, but we were not affected by the hack

Google Cloud CISO Phil Venables has revealed that the cloud uses software from the vendor, SolarWinds, but states that the use ...

Scotland Environment Service: ransomware continues to affect us

The Scottish Environmental Protection Agency (SEPA) has confirmed that it was hit by a ransomware attack last month and continues to face ...

Backdoors and vulnerabilities were discovered in FiberHome routers

Backdoors and other vulnerabilities have been discovered in the firmware of a popular FiberHome FTTH ONT router. FTTH ONT stands for Fiber-to-the-Home Optical Network ...

GitHub apologizes to an employee who fired! What happened;

GitHub has admitted that it was wrong to fire a Jewish official who made "anti-Nazi" comments about the Capitol riots.

By 2030 AI will replace the people of cybersecurity

Security company Trend Micro recently conducted a new survey that reveals that more than two-fifths (41%) of IT leaders believe ...

Chinese Winnti APT targets organizations in Russia and other countries!

Security researchers at Positive Technologies have uncovered a series of attacks carried out by a Chinese APT hacking team targeting organizations in Russia ...

Silicon Valley is investing a huge amount of money in India

From March to November, even when COVID-19 destroyed economies around the world, the richest man in India ...
00:02:01

Microsoft, Salesforce, Oracle are designing a digital vaccination passport

A Covid digital vaccination passport is being developed jointly by a team of health and technology companies, as well as governments, airlines and ...

Google removes Chrome Sync from third-party browsers

Google says it will block the use of private Google APIs by third-party Chromium web browsers after discovering that ...