Uranium Finance Reportedly Hacked for $50 Million


Uranium Finance joins the growing list of hacked projects on the Binance Smart Chain network after it was drained of more than $50 million. 

April 28, 2021 | AtoZ Markets – On the night of April 28, Uranium Finance, an automated market maker platform on the Binance Smart Chain reported a security incident that resulted in a loss of about $50 million.

Uranium Finance joins the growing list of hacked projects

Tweeting on Wednesday, Uranium revealed that the exploit targeted its v2.1 token migration event and that the team was in contact with the Binance security team to mitigate the situation.

On April 28, the developers planned to migrate the assets of liquidity providers to the new version of the protocol. However, in the process, a vulnerability arose, due to which hackers gained access to users’ funds.

 

Project representatives confirmed the incident:

“The Uranium Finance migration was exploited. The next address contains $50 million. It is now important to keep these funds with BSC. Tweet this address immediately to Binance and ask them to stop transfers. “

The hacker withdraws Ethereum from the project wallets through the Tornado Cash mixer.

Uranium Finance developers contacted Binance security experts to resolve the issue.

The team has created a Telegram group for victims of the hack while promising to provide updates on the progress being made to recover the stolen funds.

Meanwhile, speculation is rife as to whether the attack was an inside job, given the sudden decision to engineer another version upgrade barely 11 days after completing the v2 migration.

A Twitter user under the pseudonym BeTheb0x drew attention to a bug in the code of the new fork:

Wednesday’s hack is the second attack on the Uranium project in quick succession. Earlier in April, hackers exploited one of the platform’s pools, stealing about $1.3 million worth of BUSD and BNB.

Recall that in March, an unknown person hacked the blockchain platform for the release of “social money” Roll and stole 3,000 ETH ($5.7 million).

Think we missed something? Let us know in the comment section below.

Share Your Opinion, Write a Comment