Algorand-Based Tinyman AMM Exploited for $3.5M💰
Events Under the Spotlight
Stobox TOKEN Hacked
- Stobox, a technology and consulting company’s $STOX token’s deployer address, which was the same for Ethereum and Binance Smart Chain, was compromised resulting in stolen and liquidated funds.
MetalandDAO Rugged Investors
- MetalandDAO, a project listed on PancakeSwap on BSC, rugged investors for more than 40 wBNB. Stolen funds were swapped for ETH.
NFT project Bored Bunny Rug Pulled Investors
- Bored Bunny, an NFT project that’s collection of 4,999 unique NFTs on OpenSea, rug pulled investors for 2,000 ETH within hours of launch.
- Later, about 800 ETH were transferred to Binance exchange.
Arbix Finance Rug Pulled investors
- Arbix Finance rug pulled investors for more than $10 Million in BUSD, BNB, BTCB, CAKE, USDC, anyUSDT and anyETH.
- The stolen funds were sent to Ethereum using AnySwap.
Algorand’s DeFi platform Tinyman exploited for $3.5M
- Tinyman, an Algorand blockchain based trading platform was attacked, that cost the DeFi platform $3.5 Million.
- The attacker exploited unknown vulnerabilities, also known as 0 dayvulnerabilities in the Tinyman smart contracts.
- This provided unauthorised access to the platform’s liquidity pools to withdraw tokens which resulted in an increased volatile market aftermath the attack.
- The hacker burned and swapped Pool Tokens multiple times to steal locked funds off the platform.
- The Tinyman team later disclosed some information about the hack.
Vesper Finance exploited for $1M
- Vesper Finance was exploited during beta testing of its new beta Vesper Rari Fuse liquidity pool.
- The attacker manipulated an oracle to drain $1 Million DAI, ETH, wBTC and USDC from the beta lending pool by using an out-of-market pair of VUSD/USDC.
To the Numerophiles out there 🔢
Crypto scammers took a record $14 billion in 2021. — Source
Interest in Bitcoin and Ethereum Slides According to Google Trends Data, NFT Queries Skyrocket. — Source
Google Trends scores for the terms “bitcoin,” “ethereum,” and “cryptocurrency.” Screenshot taken on January 7, 2022.
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