Crypto Criminals Deplete Odious Treasury of $18.5 Million Tokens
Criminals have once again tarnished the reputation of the digital space. This time, the Web3 streaming platform’s coffers used devious hacks to mine 18.5 million $AUDIO ($5.8m) tokens. Odias.
The brutal attack took place on July 23 and exploited a weakness in governance, staking and delegation agreements. However, Odias has revealed that it has now stopped exploitation and secured its remaining assets. Despite this, precautionary measures have also been taken to avoid any kind of hands malicious code The attackers may have been left behind.
The postmortem from this weekend’s attack is now live: https://t.co/aPUv2fPUm7
Highlights:
– Audited contracts were compromised due to an exploit in contract initialization code that allowed repeated calls to the “initialize” function.— Audius
(@audiusproject) July 25, 2022
After the heinous robbery, crypto sleuths discovered who the criminals were Token swapped for 705 ETH ($1m) uses the Uniswap protocol, and sets a lowball offer to guarantee a trade. After that, unsuspecting hackers funnel the ill-gotten funds through a private transaction tool and hide any further movements from the watchful eyes of the Web3 community.
Immediately after a hack, Audius conducts a thorough investigation of the incident, noting the damage caused, the reasons behind the theft, and the solutions needed to prevent a repeat incident. However, securing the platform from these unwelcome pretenders will require considerable effort.
Read the full report >> here
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*All investment/financial opinions published by NFT Plaza are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals should do thorough research on any product before making any type of investment.
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