Cryptocurrencies worth $ 55 million were stolen from the DeFi bZx project

Decentralized lending protocol bZx reported that private keys for managing contracts on the Polygon and Binance Smart Chain networks have been compromised. This resulted in a loss of $ 55 million in assets.

The bZx platform has undergone another hacker attack. BZx specialists
wrote on Twitter that a few hours ago the private keys for managing contracts in Polygon and Binance Smart Chain were hacked. The bZx developers recommended that the users involved in pharming withdraw tokens from contracts based on the Polygon and Binance Smart Chain blockchains as soon as possible.

Later, the bZx platform reported that the leakage of private keys did not affect the bZx smart contract on Ethereum. Thanks to the deployment of a contract on Ethereum under the control of a decentralized autonomous organization (DAO), funds on this blockchain are also safe.

SlowMist, a blockchain security company, responded to a tweet from bZx developers, publishing information that attackers had withdrawn more than $ 55 million from the project. The stolen tokens are now located on five addresses that can be controlled by a hacker. Most of the tokens are “scattered” at three addresses, which contain about $ 18.4 million, $ 13.8 million and $ 15.5 million, respectively, the remaining funds are distributed among other addresses.

This was the fourth hack of the bZx project, and each time hackers are increasing the scale of their attacks. In February last year, attackers took advantage of the price oracle vulnerability and removed $ 350,000 worth of ether from the platform, and a few days later carried out a second attack, appropriating 2,388 ETH worth about $ 645,000. The rise in the amount of losses in dollars is primarily associated with the growing popularity of DeFi. However, the latest hack could deal a fatal blow to the project if it fails to recover a significant portion of the stolen cryptoassets.