QuillHash
Published in

QuillHash

IRA Financial Trust hack: $36M in crypto stolen💰

Events Under the Spotlight

  • After the attack, the team released an official postmortem, of the event. All NFT’s funds are safe.
  • Total 4,809,984 TMT tokens were compromised in the hack.
  • All the tokens at the Dragos, except USDT and ETH, are at the risk due to an exploited vulnerability in the protocol.
  • The attacker successfully took over the organization bypassing a majority vote in the pool.
  • The hacker minted 1,000,000,000 $BUILD tokens.
  • Funds were routed through Tornado Cash.
  • The attacker made a total profit of 4,828.7 BNB.
  • Titano team released an official announcement stating the reimbursement of tokens.
  • The hackers withdrew $21 Million in Bitcoin and $15 Million in Ether from the accounts of IRA Financial Trust.
  • The stolen funds were routed through Tornado Cash.
  • FutureSwap is a decentralized derivatives trading platform.
  • The attacker gained access to the account and transferred the rewards to the hacker-owned wallet on Arbitrum.

To the Numerophiles out there 🔢

  • British authorities just seized NFTs for the first time, in a £1.4 million fraud probe.

More From the Editor’s Desk

Consensus algorithms in a decentralized network like Bitcoin are similar to the central authority in a centralized system responsible for running a company’s database.

A good consensus mechanism is beneficial to the spread of blockchain technology in theory and practice. Check out below to get an insight on “Blockchain Consensus Mechanisms Beyond PoW and PoS”.

Word on the Block

Versus Series

Catch out the Key differences between various significant terminologies in the Blockchain.

--

--

Delivering Enterprise-grade blockchain technology to leading companies worldwide.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store