Osmart contract – a bug made it possible to steal 280 million

A hacker must have succeeded in stealing cryptocurrencies worth SEK 280 million by using a bug in the blockchain startup Monox Finance’s software for smart contracts.

An accounting error in the program should have enabled the hacker to increase the price of the Mono token and then use it to extract money from other entered tokens. The theft is said to have affected the blockchain for Ethereum and Polygon, which both support the Monox protocol.

Monox Finance writes that their insurance covers $ 1 million in losses. They are now working on the distribution of this.

Read also: Now US banks will receive clearer information about cryptocurrencies

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About Eshan William 92500 Articles
A 25 years old blogger. Other than gaming, I like watching documentaries and working on cars. A hardcore PC gamer is what I have always been and always will be.