The cork protocol, a decentralized financial platform (DEFI), was struck by a intelligent contract exploited on May 28, resulting in a loss of approximately $ 12 million in digital ownership.
Cybersecurity firm said Cyvers took Hack at 11:23:19 UTC and was funded by an address ending with “762B.” According to the firm, the attacker used the exploitation to steal nearly 3,761 wrapped in staked ether (Wsteth), which was converted to ether (Eth) almost immediately after attacking.
“We are investigating a potential exploitation of the cork protocol and stop all contracts. We will report back with more information,” cork protocol co-founder Phil Fogel write In X.
The cork protocol exploit is the latest incident in hacking to affect the crypto industry while cybersecurity continues to be a major issue in the sector, Lowering Consumer Confidenceand motivation of calls to Improve security measures From the executives of the crypto industry.
Related: Hacken CEO saw ‘no shift’ in crypto security while April Hacks hit $ 357M
Cetus hacked $ 223 million days ago
Cetus Decentralized Crypto Exchange (DEX), a trading platform built on the SUI Network, is That -hack on May 22resulting in $ 223 million in stolen funds.
Sui Validator Froze most of the fundsSparking a debate about network centralization and the appropriate course of action for blockchain validators following a major hacking incident.
The Cetus team announced a $ 6 million large amount For white hat hats that help return the remaining stolen funds.
https://www.youtube.com/watch?v=ndv0rFehetq
Blockchain Security Firm DEDUB has released a post-mortem Report DISSECTING the details of the incident. According to the report, the hack is caused by a Exploit of liquidity parameters Used by the Cetus Automated Market Maker (AMM).
Hackers manipulate the field by changing values that are not determined by a most significant check (MSB). Changes in the most significant pieces of binary code are noticeably changing the amounts made by that binary code.
This allowed hackers to add massive amounts of liquidity to the system with only one keystroke and drain the other pool pools of the hundred -millions of dollars.
