Decentralized finance (DeFi) project Curio has been hacked. The preliminary amount of damage is estimated at $16 million, according to experts from Cyvers.
🚨ALERT🚨@curio_invest has experienced a $16M exploit involving a smart contract based on @MakerDAO within their ecosystem!
The exploit appears to stem from a permission access logic vulnerability. The attacker leveraged this vulnerability to mint an additional 1B $CGT.… https://t.co/xWvvYzrWaI pic.twitter.com/mdrKyV3t9U
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) March 25, 2024
According to available information, the Curio project is focused on providing services to companies working with tokenized real-world assets (RWA).
On March 23, the protocol team warned about an exploit of the MakerDAO smart contract. At the same time, the developers explained that the incident occurred on the Ethereum side.
According to Cyvers, the attacker took advantage of a vulnerability in the access permission logic and issued an additional 1 billion CGT tokens. Their cost is estimated at $39.7 million.
Hacker holds $39.7 billion worth of CGT tokens Source: Etherscan.
Since the beginning of 2024, the volume of funds stolen in the crypto industry has exceeded $200 million, according to Immunefi. The indicator increased by 15.4% compared to the same period in 2023.
Source: Cryptocurrency
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