The staking and farming platform Bent Finance joins the list to become the sixth cryptocurrency establishment to be hacked in December. Upon recognition of the attack, asked investors to withdraw their common funds, and bounty claims were disabled on the compromised platform.
Bent Finance realized for the first time of the exploit on Monday at approximately 8:55 p.m. ET, at which point the company will not reported of no loss of funds. However, the community suspected that it was a carpet-pulling event when blockchain researcher PeckShield allegedly located the source of the hack transactions.
We have located the hack tx, which interestingly is sent from the Bent Finance: Deployer @BENT_Finance !!! What is going on ?! https://t.co/3L4F1gcNYJ
– PeckShield Inc. (@peckshield) December 21, 2021
We have located the hacking transaction hash, which was curiously sent from Bent Finance: @BENT_Finance Deployer !!! What’s going on?!
“Yes, we see the same thing and we are working on it right now,” said Bent Finance. while the team appointed two independent white hat developers to better understand the situation that was occurring. The company confirmed shortly after
1 / There was an exploit from the bent deployer address, it added balance of cvxcrv and mim to an address on an unvierifed update 20 days ago. We just discovered this today. There are multiple members on this team and we will make this right.
– Bent Finance (@BENT_Finance) December 21, 2021
1 / There was an exploit of the address of the bent deployer, which added balance of cvxcrv and mim to an address in an unverified update 20 days ago. We just found this out today. There are several members on this team and we will fix it.
Bent Finance continues to advise its pool investors to withdraw funds until the exploit is fixed with each update. However, the company has confirmed recover all stolen funds from the Bent curve pool:
“We recommend that you withdraw from the protocol until further notice. We are not going anywhere and we will recover from this one way or another. “
According to cryptocurrency fraud investigator and former United States Secret Service member Joe McGill of TRM Labs, the attackers managed to steal approximately 440 Ethereum (ETH), worth more than $ 1.6 million at the time of writing this article.
McGill’s investigations they hinted that the attack has been ongoing since December 12, which contradicts the finding of Bent Finance that suspects the presence of the attacker on the network since December 1.
In December alone, five crypto companies – including Grim Finance, BitMart, and AscendEX – cumulatively lost more than $ 600 million as a direct result of successful hacks.. However, further investigation is underway to identify losses from the Bent Finance exploit.
Bent Finance has not yet responded to Cointelegraph’s request for comment.
In parallel with ongoing exploits in cryptocurrency businesses, December also witnessed a momentary hack of Modi’s Twitter account, which was used to spread misinformation about the adoption of Bitcoin (BTC) in India..
As Cointelegraph reported, Hackers of unknown origin took control of the Prime Minister’s account on December 12 with more than 73.4 million followers to declare BTC as legal tender, in addition to announcing a 500 BTC giveaway for Indian citizens..
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