Protocol loses $1.5M, investigation underway

The UvToken project experienced a hack earlier today in which an attacker stole 5,000 BNB, worth approximately $1.5 million. The team is currently investigating the incident.

Digital asset management ecosystem UvToken has been hacked Update on Twitter. The team said that UvTokenWallet’s eco staking project was hacked and an investigation is currently underway. It also confirmed that other ecological projects have not been affected.

Peckshield said there were about 5,000 BNB stolen, which is worth $1.5 million. The funds have been transferred to crypto mixing service Tornado Cash to prevent it from being traced.

The team is currently working with Security Web3 looks to cyber security firm Encilia to join the companies to minimize damages, with both sides engaging in discussions on Twitter.

It is not clear exactly how much has been stolen and whether the UvToken hack has been prevented. The attack happened just a few hours ago, and there are no details on how exactly the Echo project was exploited.

UvToken is a decentralized digital asset management ecosystem that allows users to manage assets across multiple chains. It also includes wealth management services and a cross-chain exchange.

According to the project, UVToken is committed to providing a secure, convenient and efficient decentralized digital asset platform to the public through its unique technology.

UvToken claims to have aggregated all the functions of traditional wallets and through the design of decentralized contracts and product functions.

By building structured revenue-based products, it expands the development pattern of blockchain projects, improves capital utilization, and creates a one-stop progressive decentralized wallet service provider that integrates users, developers, and upper-layer applications. Is.

The project’s native token, UVT, tanked after the exploit. The coin was trading for $0.46 before it dropped more than 99% to $0.05.


All information contained on our website is published in good faith and for general information purposes only. Any action taken by readers on information found on our website is strictly at their own risk.

Source link

Leave a Comment