Scam Alert

FriesDAO Wallet Was Hacked For A $2.3 Million Exploit

An anonymous attacker stole $2.3 million in tokens from FriesDAO, a decentralized autonomous organization. This comes after a rush of hacks and vulnerabilities this month, which appears to be a particularly awful month for cryptocurrency initiatives.

The hacker gained access to FriesDAO’s deployer wallet and transferred a huge sum of FRIES, the project’s governance tokens, into their own. Using their access to the deployer wallet, the culprit also siphoned additional tokens from a staking pool.

According to security company CertiK, the stolen tokens were sold for $2.3 million in stablecoins held at the hacker’s address.

The deployer wallet for FriesDAO was created with Profanity, a wallet-generator program known to have a major vulnerability.

Last month, security experts at 1inch discovered that malevolent hackers might compute the private keys of vanity addresses issued by Profanity to steal cash. Following 1inch’s publication, hackers used the vulnerability to steal $160 million in crypto assets from Wintermute.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.