Abracadabra offers hacker 20% bounty after $13M breach
Abracadabra Finance confirmed a security feat affecting its GMCAULRRON smart contracts, causing a flight of around $ 13 million and takes action to recover funds.
The protocol has since deactivated the loan in all the boards and works with blockchain safety companies to follow the stolen funds, according to a press release from the company.
THE attackWhat Blockchain Peckshield Safety Company First reportedhas targeted the integration between the decentralized exchange of GMX and the loan contracts of Abracadabra.
“The total attack damage is currently being evaluated. We work with Guardian Audits, GMX and other security peers to identify the execution of the hack”, the company poster.
Abracadabra noted that its GMCAULDRS have undergone audits by Guardian audits before deployment and have been integrated into multiple security surveillance systems – including monitoring of Zeoshadow and response software in Hexagate. Despite these measures, the violation was only detected after the attacker has executed several transactions.
The Zeroshadow team finally alerted Abracadabra, which caused an immediate stop of all the borrowing functions.
The blockchain analysis firm was enlisted to follow the stolen assets, which were punctuated by Arbitrum (ARB) in Ethereum (Ethn) and consolidated in at least three addresses.
Abracadabra offers the striker a 20% bug bonus to return the remaining funds, declaring:
“For the pirate, we are happy to entertain negotiations for a bug bonus of 20% of the total. [email protected] or in chain at our Treasury address on ETH 0xdf2c270f610dc35d8ffda5b453e74db5471e126b. »»
A complete post-mortem of the last feat will be published once the survey is completed, said the company.
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