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Hacker Fails To Take $1 Million Loot After Exploiting DeFi Protocol

A curious thing occurred today in the DeFi ecosystem when a little theft occurred – and the hacker failed to make off with the stolen cash.

Hacker Fails To Take $1 Million Loot After Exploiting DeFi Protocol

The flaw was discovered in Zeed, a lesser-known DeFi protocol that bills itself as a “independent decentralized financial integrated ecosystem” based on BNB Chain.

The protocol was attacked around 7.15 a.m. UTC, with extra awards being minted. The token’s price plummeted to zero after the awards were sold on the market.

The hacker then destroyed DeFi the contract that was used in the exploit

Hacker Fails To Take $1 Million Loot After Exploiting DeFi Protocol

According to security specialist PeckShield, this meant that any tokens owned by the contract could no longer be moved.

PeckShield observed, “The hacker terminates the contract but forgets to send the profit.”

BlockSec, a blockchain security firm, adds, “Surprisingly, before self-destructing the attack contract, the attacker does not transfer the tokens gained. He/she was probably overjoyed.”

It’s unclear what may have stopped the hacker from stealing the tokens.

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.

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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