Hackers ransacked the wallet of the blockchain platform Nuls and steal $480,000 worth of cryptocurrency. The Altcoin, however, faced minor losses after the attack.
December 23, 2019, | AtoZ Markets – NULS Blockchain platform has become the latest victim on the success list of crypto hackers after a security breach leading to the theft of about $480,000 worth of NULS cryptocurrency.
The NULS team confirmed the attack in a tweet posted this morning. According to the team, 2 million tokens had been transferred by the hackers. Among these, 548,354 tokens entered the trading market and can no longer be traced. Notably, the compromised tokens make 2 percent of the company’s total token circulation of over 73 million.
A mandatory hard fork will take place as soon as possible
To prevent the hackers from cashing out the remaining tokens by pushing them into the trading market, the NULS team said they would conduct a mandatory hard fork at block 878,000 to destroy the tokens permanently “ASAP.”
Although there is currently no exact schedule for the upgrade, NULS said in its written statement:
We have contacted the exchanges, and they are cooperating with us actively. We are fully preparing the hark fork process and will release it as soon as possible. Sorry for the inconvenience.
NULS further noted that the cause of the attacked could be traced to the security vulnerability in version 2.2 of the NULS protocol, which has now been fixed. Node owners are, therefore, required to upgrade to the latest version to prevent further attacks.
NULS price drops slightly after hack
Unpleasant news like a security breach is one of the fundamental factors that affect the prices of tokens in the crypto market. Unlike other hacks, the news of the attack made no significant impact on the market value of the token. In the last 24 hours, NULS token shed around 0.55 percent of its value. However, weekly loss stands at over 13 percent.
NULS is ranked 147th in CoinMarketCap’s ranking and can be traded in Binance, OKEx, and Huobi. At the time of press, the cryptocurrency is down by only 1.62%, trading at around $0.24.
Last month, the South Korean crypto exchange UpBit was hacked and attackers stole around $50 million in Ether. Thereafter, the Whale Alert Twitter account started publishing data that shows – the hackers are transferring the Upbit stolen Ethereum in a small amount – from 1,000 ETH to 10,000 ETH. On December 3, another 20,000 ETH was moved.
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