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News

EraLend Attack Update: 31% Of Stolen Funds Transferred To CEX

August 22, 2023 - Around 2 mins mins to read

Key Points:

  • In the EraLend attack, the zkSync ecological lending protocol’s attacker has shifted tactics by transferring 31% of the stolen funds, approximately 410.8 ETH (around $757,000), to a cryptocurrency exchange (CEX).
  • This incident highlights the ongoing security challenges in the cryptocurrency landscape, underlining the need for robust security measures and a united effort among platforms and the community to prevent and respond to cyber threats.
The ongoing saga of the EraLend attack continues to unfold, as security agency PeckShield’s monitoring reveals significant developments. 
EraLend Attack Update: 31% of Stolen Funds Transferred to CEX

On August 22nd, the attacker behind the zkSync ecological lending protocol EraLend has initiated a noteworthy move, transferring approximately 410.8 ETH to a CEX. This transfer amounts to about 31% of the total stolen funds, marking a significant shift in the dynamics of this cyber incident.

The attack, which has been previously reported, involved a manipulation of the oracle machine’s price by the attacker. This manipulation led to the utilization of the USDC mining pool, ultimately resulting in losses of approximately $2.76 million.

With this recent transfer of 410.8 ETH, roughly equivalent to $757,000 in US dollars, to a CEX, the attacker’s motives and strategies come into sharper focus. This transfer accounts for a substantial portion of the stolen funds, potentially signaling a step toward cashing out or further diversification of the stolen assets.

As EraLend grapples with the aftermath of the attack, the situation underscores the ever-present challenges of security within the cryptocurrency landscape. Incidents like these highlight the importance of robust security measures and proactive responses by both platforms and the broader community.

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.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

News

EraLend Attack Update: 31% Of Stolen Funds Transferred To CEX

Key Points:

  • In the EraLend attack, the zkSync ecological lending protocol’s attacker has shifted tactics by transferring 31% of the stolen funds, approximately 410.8 ETH (around $757,000), to a cryptocurrency exchange (CEX).
  • This incident highlights the ongoing security challenges in the cryptocurrency landscape, underlining the need for robust security measures and a united effort among platforms and the community to prevent and respond to cyber threats.
The ongoing saga of the EraLend attack continues to unfold, as security agency PeckShield’s monitoring reveals significant developments. 
EraLend Attack Update: 31% of Stolen Funds Transferred to CEX

On August 22nd, the attacker behind the zkSync ecological lending protocol EraLend has initiated a noteworthy move, transferring approximately 410.8 ETH to a CEX. This transfer amounts to about 31% of the total stolen funds, marking a significant shift in the dynamics of this cyber incident.

The attack, which has been previously reported, involved a manipulation of the oracle machine’s price by the attacker. This manipulation led to the utilization of the USDC mining pool, ultimately resulting in losses of approximately $2.76 million.

With this recent transfer of 410.8 ETH, roughly equivalent to $757,000 in US dollars, to a CEX, the attacker’s motives and strategies come into sharper focus. This transfer accounts for a substantial portion of the stolen funds, potentially signaling a step toward cashing out or further diversification of the stolen assets.

As EraLend grapples with the aftermath of the attack, the situation underscores the ever-present challenges of security within the cryptocurrency landscape. Incidents like these highlight the importance of robust security measures and proactive responses by both platforms and the broader community.

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.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

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