Users of Uranium Finance lost $50 million due to a vulnerability in the protocol

in #uranium2 months ago

The cryptocurrency project Uranium Finance was attacked this Wednesday, the damage from which is estimated at $50 million. Uranium Finance uses the Binance Smart Chain blockchain and specializes in creating an improved automated market maker protocol.

According to the plan, today the assets of the liquidity providers were to be migrated to the new version of the protocol to implement additional features. In the process, there was a vulnerability that caused the loss of assets. The attack occurred at night, Moscow time. At this time, members of the project group in Telegram began to pay attention to suspicious transactions with Uranium Finance tokens on the market. Around 7 am, the fact of the attack was confirmed by the developers themselves.

"The migration of Uranium Finance has been exploited," they wrote – " The following address contains $50 million. Now it is important to keep these funds in BSC. Please all immediately start sending Binance tweets with this address and ask them to stop the transfers. If you have an account on Binance, please log in and report the theft immediately, they have a mechanism."

The hacker has already begun to withdraw assets to the ether, which he then launders through the Tornado Cash mixer. The developers reported that they had contacted the Binance security team. "If you own these assets or know someone who does, please contact me to settle the matter before it goes higher,"the project said on Twitter.

"Binance Smart Chain is in an interesting situation –" the MyCrypto team notes. – There are many full-fledged projects on it, but it is not just called "shitcoin casino". Uranium Finance registered a Twitter account a month ago and raised $50 million. Seriously?»