On February 14, the developers of the MINER token, created based on the experimental ERC-X standard, reported an exploit of their smart contractwhich led to the loss of funds.
We are getting the exploit looked into by an expert onchain sleuth to make sense of what has happened.
Some other contracts — notably DN404 — are also getting exploited as we speak.
Again, please do not buy $MINER right now.
— Miner (@mineercx) February 14, 2024
At the time of writing, the attack is ongoing. The team claims that they were able to withdraw approximately 130 ETH (~$360,000) of liquidity.
According to them, a number of other contracts, in particular DN-404, faced similar hacking.
The MINER developers strongly recommended that users refrain from purchasing the token until the problem is resolved. An internal investigation is underway.
Cyvers Alerts analysts also reported malicious transactions in the MINER protocol. According to them, losses currently amount to about $460,000.
🚨ALER🚨Our system has detected multiple malicious transactions with @minerercx!
Total loss seem to be around $460K so far. But attack is still ongoing!
Attacker seem to be same as XAI Token Exploiter!
As there is no direct communication with team.
Please do reach to us for… pic.twitter.com/AXRhghMiQT— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) February 14, 2024
Over the last hour, the price of MINER has fallen by more than 60%, according to GeckoTerminal. The token is currently trading at $8.
Data: GeckoTerminal.
MINER is a collection of 100,000 avatars tied to the first tokens created based on the experimental ERC-X standard. It combines the asset characteristics of ERC-20, ERC-404, ERC-721, ERC-721A, ERC-721Psi, ERC-1155 and ERC-1155Delta.
ForkLog previously reported that the Duelbits crypto casino lost $4.6 million as a result of a hack.
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2024-02-14 15:35:39
#MINER #token #team #announced #attack #smart #contract
