DeFi aggregator raided by five hackers

Crypto Telegram  Signals Fledgling decentralized finance protocol ForceDAO has had a rough start, with several incursions from hackers taking place just hours after it launched.

The Ethereum-based yield aggregator had only just launched its airdrop campaign on April 3 when four malicious “black-hat” hackers managed to drain a total of 183 ETH worth approximately $367,000 at the time. One friendly “white-hat” hacker alsassisted the team by alerting them to prevent further losses.

Thanks to everyone technical and non-technical who helped along the way.

Especially to the White Hat who helped deter FORCE getting drained.

Following the incursion, the team made a decision to transfer 60 million FORCE tokens from the treasury multi-signature wallet into a deployer wallet to create and execute three votes that would effectively burn the FORCE balances in three of the hackers’ addresses.

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A flaw in the contract used by ForceDAO enabled the attackers to exploit this mechanism to mint xFORCE tokens which were then withdrawn and exchanged for ETH on the markets. The team acknowledged the attack would have been relatively easy to prevent.

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Following the launch and airdrop, FORCE token prices surged to over $2 on Apr. 4, but have since crashed over 95% to $0.05 at the time of writing.

DeFi aggregator raided by five hackers

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DeFi aggregator raided by five hackers

DeFi aggregator raided by five hackers

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DeFi aggregator raided by five hackers