Bent Finance Becomes 6th Hacked Platform In December, BENT Price Down 73%

Bent Finance staking and farming platform was the sixth crypto platform to be hacked this month. After the attack was confirmed, investors were asked to withdraw their funds and disable reward requirements on the compromised platform.

Bent Finance for the first time recognize Mining attack at 8:55 a.m. this morning (i.e. 8:55 p.m. last night 12/20 EST) – at the time the company was not reporting any loss of money. However, the community suspected a rug pull when blockchain investigator PeckShield identified the source of the hack transactions.

https://twitter.com/peckshield/status/1473175071560994816?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
“We came to the same conclusion and are working on it,” said Bent Finance as the team appointed two independent white hat developers to better understand the current situation. The company confirmed shortly thereafter:

“Twenty days ago there was an exploit from the developer address Bent that added cvxcrv and mim balances to an address in an unverified update. We only discovered that today. There are many members of this group and we will take appropriate action. ”

Bent Finance continues to advise its pool investors to withdraw funds until mining is fully completed. However, the company has confirmed it will get back any funds stolen from the Bent pool.

The price of the native BENT token has plummeted since the attack was announced and is still 73% in the red on that day. The token is currently trading at $ 4.12, down 74% from the all-time high of $ 15.9 set on December 19, 2021.

Source: Coinmarketcap

According to TRM Labs’ crypto fraud investigator and former US intelligence agent Joe McGill, attackers stole approximately 440 Ethereum worth more than $ 1.6 million as of press time.

McGill’s investigation suggests the attack has continued since December 12, contradicting Bent Finance’s findings since Dec.

In December alone, five crypto companies – including Grim Finance, BitMart and AscendEX – lost a total of more than $ 600 million to the hack. However, further investigations are ongoing to determine the damage done to Bent Finance.

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