Key Points:
The Blast game project, dubbed Super Sushi Samurai, unveiled its SSS token on March 17, with plans for the game’s official launch today.
The exploit, targeting a vulnerability in the smart contract’s mint function, saw an unidentified entity minting tokens and immediately dumping them into the SSS liquidity pool, causing the token’s value to plummet by over 99%, according to CoinGecko.
In response to the breach, the Blast game project team took to Telegram, acknowledging the exploitation and affirming ongoing efforts to analyze the code for further insights. Meanwhile, the exploiter reached out to the team, framing the incident as a “white hat rescue” hack and proposing to collaborate on compensating affected users.
The exploit took advantage of a flaw in the smart contract, enabling the attacker to inflate token balances and subsequently flood the liquidity pool with sell orders. Notably, a similar incident occurred last month, amplifying concerns over security in the crypto space.
In a recent development, the hacker intervened to mitigate the damage, rescuing $4.6 million worth of assets. This intervention involved the hacker exploiting the vulnerability to double their tokens through a token transfer.
Such exploits are not uncommon in the crypto sphere, especially on nascent networks like Blast, which recently went live and quickly attracted significant attention, with nearly $2.4 billion in TVL shortly after its launch.
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