Olympus DAO Was Stolen $300,000, Then Returned It All Within Days

A white hat hack resulted in the withdrawal of $300,000 of Olympus DAO’s OHM tokens after a vulnerability was found in the project’s smart contract. However, this is just a white hat hacker because all the money went back to the DAO just a few hours later.

On October 21st, the leading rebase token project by market valuation, Olympus, suffered a hack that resulted in 30,437 OHM tokens from the DAO being stolen approximately $300,000.

Blockchain security firm Peckshield detailed that hackers found the vulnerability through the project’s “BondFixedExpiryTeller” smart contract parameter. The developers behind the Olympus rebase token project have validated the $300k loss reports through the project’s Discord channel.

“This morning, an exploit occurred through which the attacker was able to withdraw roughly 30K OHM ($300K) from the OHM bond contract,”

The Olympus DAO devs told the members of the Discord channel.

However, just a few hours later, OlympusDAO updated the community with even better news: all tokens were returned by the attacker.

The olympus (OHM) token is down around 1.2% after the hack and is being traded for just under $10 per unit. Currently, the price has shown signs of recovering back to $10.03, up 0.11% within 24 hours.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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