BlockSec blocked a suspected attack on NFT lending platform ParaSpace and recovered 2,900 Ethereum (ETH) on the platform.
A huge loss has been averted in the crypto industry. NFT lending project ParaSpace announced that they noticed a suspicious transaction and paused the entire ParaSpace protocol as a security measure.
Following this announcement, BlockSec announced that they blocked a suspicious attack on the platform and recovered 2,900 ETH in the protocol. BlockSec also stated that it has reached ParaSpace but has not yet received a response.
BlockSec Prevents ParaSpace Exploitation
BlockSec, which oversees smart contracts, announced that it has blocked suspicious attacks against NFT lending platform ParaSpace. BlockSec stated that it recovered 2,900 Ethereum (ETH) from these attacks and reported it to the team.
Earlier in the day, ParaSpace reported that it noticed several suspicious transactions on its platform and therefore stopped its operations. Stating that they do not allow any transactions in the contracts on the platform, the NFT organization stated that transactions such as withdrawal, deposit and liquidation will not take place.
We noticed a suspicious transaction, and as a security measure, we have paused the entire ParaSpace protocol.
Currently, no transactions (withdrawals, deposits, liquidations) can take place with our contracts.
We are currently investigating and will provide you with an update… https://t.co/3vrIciVF5C
— ParaSpace (@ParaSpace_NFT) March 17, 2023
ParaSpace also stated that it is investigating the processes and will update its community when it has more information. Later, the NFT platform stated that assets, including major NFTs such as BAYC and CryptoPunks, are safe.
Following these statements, a remarkable statement came by BlockSec. BlockSec announced that they blocked exploit attacks on ParaSpace and recovered 2,900 ETH (approximately $5 million).
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