As the cryptocurrency market grew, we began to encounter more and more hacking news. Now, a DeFi altcoin project is allegedly hacked.
A DeFi altcoin project allegedly hacked
According to a post from a crypto trader Twitter account alias DoganETH, Stader (SD), which builds staking middleware infrastructure, has been hacked. Citing his own experience, DoganETH claimed that his NEARs staked through Stader were stolen:
Stader announced the staking program on Near 4 days ago. I also staked all my NEARs on Stader. A deficit was found today and almost all liquid was stolen. I do not know what will happen. All my NEARs except cold wallet were in this protocol.
Stader 4 gün önce Near'da stake programı açıklamıştı. Ben de tüm nearlarımı Stader üzerinden stake ettim ve bugün bir açık bulundu ve neredeyse tüm likitide çalınmış. Ne olacak bilmiyorum, benim soğuk cüzdan dışı tüm nearlar bu protokoldeydi.
DOĞAN AKA HACK HUNTER YEMİN EDERİM. pic.twitter.com/VUicQ4v8E1
— 0xDogan.eth (@DoganEth) August 16, 2022
Stader has not yet made any statement on the subject. Although the authenticity of the claim has not yet been clarified, DoganETH says the size of the hack is approximately 11 million dollars:
I guess there is a hack of about 11 million dollars. Good luck to everyone affected, including me.
Yaklaşık 11 milyon dolarlık bir hack söz konusu galiba. Ben dahil etkilenen herkese geçmiş olsun 😀 Okulum 4 güne başlıyor, zaten uzaklaşacaktım ek bir fırsat oldu. @stader__near
Bilgi geldikçe haberdar ederim k*cı kurtarma derdindeyim.
— 0xDogan.eth (@DoganEth) August 16, 2022
As you can follow from the news of Kriptokoin.com, after the attack, there are sharp decreases in the prices of the relevant altcoins. Stader (ST) price is down about 10% at press time to $0.5146, according to CoinMarketCap data. However, the altcoin already seems to be in a downtrend over the past week. Therefore, it is currently not possible to say that it is connected with the hacking claim. However, it is possible that the clarification of the situation in the following hours will lead to drastic actions.
SD 1-day price chart / Source: CoinMarketCapWhat is Stader (SD)?
Stader is building core staking middleware infrastructure for multiple PoS networks for individual crypto users, exchanges, and custodians. In addition, Stader creates highly modular smart contracts so that third parties can leverage their components and create custom solutions.
In the short term, Stader, Terra, Solana, Ethereum, Near, Avalanche, Fantom etc. It builds native contracts on multiple blockchains, including The rewards aim to build an economic ecosystem to grow and develop solutions such as yield steering style farming with liquid staking, launchpads, gaming and more.
In the long run, the altcoin plans to unlock the platform approach and nurture third parties to develop various staking applications with the Stader infrastructure. Stader (SD) token, local government and value accrual token for Stader. The project establishes core mechanics that essentially link SD tokens to the Stader platform.
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