With the growth of the economic volume of the crypto money industry, we have often encountered hacking events. This time, the DeFi protocol Sovryn has been hacked. He lost more than $1 million in this attack. Hackers used a price manipulation technique to monetize the protocol.
First, Binance’s cross-chain bridge BSC Token Hub suffered a critical hack today. Immediately after this news, a cyber attack took place on Sovryn.
Hackers withdrew some of the funds through the Sovryn AMM swap feature. Thanks to this feature, he managed to steal 211.045 USDT and 44.93 RBTC from the platform. The recovery process for these funds continues.
Finally, a spokesperson for Sovryn, Edan Yago, said that this is the first successful attack against the platform, even though it has been in operation for two years. He added that Sovryn is among the most audited DeFi platforms, focusing on security.
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