Thursday, May 26

Tag: DeFi

Another DeFi Project Under Attack Altcoin’s Price Drop By 90 Percent
CRYPTO COINS

Another DeFi Project Under Attack Altcoin’s Price Drop By 90 Percent

A rugpull took place in the DeFi area again. The rugpull victim of this weekend was ForceDAO. ForceDAO has been under a massive attack. The attack was caused by an error in the code of the xFORCE contract. The bug allows anyone to use the "deposit" function regardless of whether they hold FORCE tokens or not. This means that it is possible to print xFORCE tokens from the contract, for contractual purposes only, without locking any tokens in the vault. Therefore, everyone can exchange these tokens for FORCE using the "withdraw" function in the contract. It is stated that many attackers took advantage of this vulnerability earlier this morning. An attacker received 14.8 million FORCE for $ 24 million. But since then, he's returned the money to the pool. However, the other 4 people ...