The major issue of the DeFi altcoin market is cybersecurity, a scandalous claim has been raised by PeckShield, which has identified another multi-million dollar vulnerability.
PancakeSwap-based altcoin project deliberately left the doors open
In the early stages of DeFi protocol “Create Future”, CF, a BSC-based cryptocurrency, has a major flaw in its architecture. The developer team behind the project draws CF tokens from their investors’ balances using a transfer method. According to a warning from Peckshield earlier today, there is a serious problem with the CFToken (CF) smart contract of the “Creat Future” protocol.
When the contract is first drafted, one of its internal elements is made public by its developer. was brought. So it led everyone to empty wallets with other CFs. The time of the attack was six in the morning. So far, $1.9 million has been transferred and the price of CF has lost 100% in minutes. PancakeSwap (CAKE), the largest BNB Chain DEX, has issued CF in pairs with USDT and Wrapped Binance Coin (WBNB).
Recently, all social media accounts of the Creat Future (CF) protocol were deleted. However, automated services had announced a 130% increase in CF/USDT price on PancakeSwap three hours before the bug was discovered. Hundreds of DeFi and GameFi protocols have been targeted since the start of 2022, resulting in losses that could be in the eleven-figure range. Ronin, a critical piece of infrastructure for the Axie Infinity ecosystem, has been the victim of one of the largest hack attacks in crypto history worth $650 million in the past few weeks, as we have reported as Kriptokoin.com.
Ronin hackers continue to launder funds
Ronin Network, a side for Axie Infinity’s premium GameFi environment, was hacked for $625 million. PeckShield says hackers made frosts untraceable with Tornado Cash.
In the last weeks of March, Ronin (RON) reported that an attacker “used hacked private keys to withdraw counterfeit money” from the Ronin bridge in two transactions, with losses of 173,600 Ethereum (ETH) and 25.5 million USDC, or more than $625 million in current values.
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