MonoX Finance (MONO), a DeFi altcoin project, has been the latest victim of an attack, and early estimates suggest that the attackers managed to seize over $30 million in various cryptocurrencies. For details of the news Cryptocoin. com keep reading.
DeFi altcoin project hacked and coins stolen
By some estimates, the total amount stolen is around $31 million. These include $18 million in Wrapped Ethereum (WETH) and more than $10 million in Polygon (MATIC). Some of the other stolen assets are WBTC, GHST, DUCK, IMX, MIM and LINK.
The team of the DeFi altcoin project shared the incident in a statement on Twitter, claiming that a vulnerability in the swap contract was used by the attacker to artificially inflate the price of the MONO token and then buy all the digital assets in the pool:
Our contract was hacked this morning. We apologize to our users who deposited money. The team is investigating and will do our best to recover the stolen funds. Thank you to our community for your support.
In a long Twitter thread, MonoX desperately pleaded with the hacker to reach him:
We also really want to have a chance to talk to the “hacker”. We highly value what we produce for current and future MonoX, and most importantly our users and their funds; Please contact us.
Earlier in August, $610 million worth of crypto was stolen from cross-chain DeFi altcoin project Poly Network in the largest DeFi heist to date. After several weeks of headline drama, the hacker returned the entire amount, which led to a lot of speculation about his true intentions.