$ 50 million was allegedly stolen from #Uranium #Finance, a #DeFi project running on Binance Smart Chain.
Multiple cryptocurrencies worth $ 50 million have disappeared from the automated market maker ( #AMM) platform . The team behind the project claims the funds have been stolen, while the cryptocurrency community is looking at the possibility of this being a "rug pull."
🔥The 50 Million Dollar Riddle
The DeFi project announced the activities of its hackers targeting 2.1 token migration on Twitter. The team argued that the hackers took advantage of the flaws in the project's balance-modifier logic. This allowed them to increase the balance by 100 times and eventually spend roughly $ 50 million.
On-chain data shows that the stolen funds included 80 Bitcoin (BTC), 1,800 Ethereum (ETH), 26,500 Polkadot (DOT), 638,000 Cardano (ADA), 112,000 u92 (the project's local currency) and 5.7 million USDT.
The #hackers used #Tornado #Cash, an Ethereum privacy tool, to move 2,400 ETH . According to Etherscan, all transactions were done in batches of 100 ETH.
The Uranium Finance team assured that they are in contact with the Binance Security Team and that the process is being followed.