Mirror Protocol, a platform operating in the bitcoin and altcoin space, appears to be under attack and may have lost as much as $2 million already. Here are the details of the attack…
Altcoin suffered the second hack attack
As we have reported as Kriptokoin.com, just a few days after it was discovered that Mirror had been hacked for almost 90 million dollars seven months ago, the protocol’s failure It looks like he’s been under another attack. The attacker apparently took advantage of the inconsistent data between the price oracle’s old LUNC token and the new LUNA token. The abuse was reported by a Mirror community member who posted about it on the Mirror community forum. Then it quickly spread by Twitter user FatMan, who discovered the previous Mirror exploit four days ago.
According to FatMan, the price is oracle Hacking was possible due to an error in their configuration. This has been confirmed by Chainlink community member ChainLinkGod, who said that oracle is currently reporting the price of the new Terra 2.0 (LUNA) token ($9.80) instead of the original Terra Classic (LUNC) token ($0.0001). FatMan estimates that the exploit cost Mirror Protocol $2 million, but no official statement has yet been made as to the amount lost. However, it is known that the liquidity of mBTC, METH, mDOT and mGLXY pools has been drained.
Mirror Protocol developers did not take action
FatMan and Other crypto users are calling for Mirror developers to take action before the rest of the mAsset repositories like mAAPL and mAMZN are drained as well. Mirror Protocol is a decentralized application that allows the creation of digital synthetic assets that track the price of real-world assets such as stocks. Mirror’s core contracts are deployed on Terra Classic, but its assets are also available on Ethereum and Binance Smart Chain (BSC). It was previously hacked for $90 million, which was discovered seven months after the incident.
MIR is the management token of Mirror Protocol, a synthetic asset protocol created by Terraform Labs (TFL) on the Terra Blockchain. The value of MIR has dropped close to 8 percent in the last 24 hours after the news of the latest attack spread.
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