Furucombo, a service that allows you to create and merge transactions across various DeFi protocols, has come under attack. Attackers stole ETH coins and various tokens worth more than $ 14 million.
Apparently, the attack was similar to the Pickle Finance hack in November 2020. The attackers “tricked” the Furucombo protocol – they presented their smart contract as a new version of the Aave project. The hackers then began to empty the wallets of users who had previously interacted with Furucombo and granted the protocol the right to transact.
“The elevated privileges mean you can withdraw funds from anyone who has worked with Furucombo,” said Emiliano Bonassi, a white hacker and co-founder of DeFi Italy.
Furucombo’s Twitter page now features official confirmation hacking. The developers reported that they revoked authorization from components associated with the attack – this should stop the hackers. However, for added security, they urge users to revoke permissions for the Furucombo smart contract.
A recent study by Crystal Blockchain showed that cybercriminals are now much faster at hiding stolen crypto assets. If in 2015 the stolen money could remain motionless for up to 365 days, then in 2020 the average withdrawal time of 80% of illegally obtained crypto assets was about 28 days. In five years, criminals have learned to withdraw money 13 times faster.
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