Meter Is Hacked And Stolen Nearly $4.4 Million On February 5

Meter, an Ethereum sidechain, was attacked and stolen nearly $4.4 million on February 5.

Blockchain research company PeckShield revealed that 1391 ETH and 2.74 BTC were stolen during the incident. 

Meter allows smart contracts to scale and travel through heterogeneous blockchain networks. Around 2p.m on Saturday afternoon, this DeFi infrastructure announced it was hacked and urged users not to trade unbacked meterBNB circulating on Moonriver. 

A few hours ago, the multichain give users the details of its cyberattack via Twitter.

“Around 6am Pacific time we identified someone was able to leverage a vulnerability of the bridge to mint a large amount of BNB and WETH tokens and depleted the bridge reserve for BNB on WETH,” they said.

“We stopped all bridge transactions immediately and started an investigation,” they added, “Within 30 minutes we identified the issue to be a bug introduced in the automatic wrap and wrap of native tokens like BNB and ETH.”

Within just a few days there were several attacks on blockchain platforms. Recently, DeFi protocol Qubit Finance was stolen more than $80 million by hackers, making it the biggest theft this year.

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Hazel

CoinCu News

Within just a few days there were several attacks on blockchain platforms.