The Cork Protocol, a decentralized financing platform (DEFI), was struck by an intelligent contract feat on May 28, resulting in a loss of around $ 12 million in digital assets.
The cybersecurity company Cyvers said that the hack had taken place at 11:23:19 UTC and was funded by an address ending with “762b”. According to the company, the attacker used the feat to fly about 3,761 stretched ether (Wsteth), which was converted into ether (ETH) almost immediately after the attack.
“We are investigating a potential feat on the Liège protocol and we stop all the contracts. We will report with more information,” wrote Phil Fogel, co-founder of the Cork protocol, on X.
The Cork exploit protocol is the last hacking incident to have an impact on cryptographic industry, cybersecurity is a major problem in the sector, reducing consumer confidence and encouraging calls to improve the safety measures for cryptographic industry leaders.
In relation: The CEO of Hacken sees “ no change ” in the safety of the crypto while Prur Hacks reached 357 million dollars
Cetus hacked $ 223 million $ 223 million
The Cetus decentralized Crypto Exchange (DEX), a trading platform built on the SUA network, was hacked on May 22, which led to $ 223 million in stolen funds.
The Validators SU have frozen a majority of funds, arousing a debate on the centralization of the network and the appropriate action plan for blockchain validators following a major hacking incident.
The Cetus team announced a bonus of $ 6 million for white hats pirates helping the remaining stolen funds.
https://www.youtube.com/watch?v=ndv0rfehetq
The blockchain security company DEDAUB has published a post dead report dissecting the details of the incident. According to the report, the hack was caused by a feat of the liquidity parameters used by the automated market manufacturer Cetus (AMM).
Pirates have manipulated the field by modifying the values that are not detected in a most important bits check (MSB). The most important modifications of the binary code considerably modify the values produced by this binary code.
This allowed the pirates to add massive quantities of liquidity to the system with only one strike and empty other liquidity pools of hundreds of millions of dollars.
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