Cypher Protocol, a Solana-based decentralized futures exchange, halted its smart contract following a $1 million hacking attack. A crypto wallet suspected to be tied to the exploit has gained over $1 million in SOL and UDSC since the attack, it has been reported.
On August 7, Cypher informed its followers about the attack. Meanwhile, Cypher is probing the incident and has contacted the hacker to negotiate the potential return of the stolen money.
Trader Bags 800 ETHs By Baiting A Bot
A trader walked off nearly $1.5 million richer after tricking a bot copying his trades to buy a slew of NFTs at a mark-up. Hanwe Chang, a YouTuber and nonfungible token (NFT) trader, claimed to have earned 800 Ether (about $1.5 million) by tricking a trader's bot into purchasing his own inflated NFTs. Chang said in an August 5 Twitter post that he observed a bot replicating his bids on the NFT marketplace Blur and decided to fool it.
Raving Ape, an NFT-focused account, speculated that Chang purchased several Azuki NFTs with the same backdrop colour from a separate, anonymous wallet. Chang placed an inflated offer on the NFTs held in his anonymous wallet from his publicly-known hanwe.eth wallet, knowing that bots were duplicating his trades.
Chang accepted the inflated price from his anonymous wallet and was able to sell the NFTs at a large mark-up after a bot automatically duplicated it. The bot’s owner elizab.eth responded to Chang's article by saying the funds were stolen and offering a 10 per cent bounty if the money is returned.
All Funds Are At Risk: Steadefi
The leveraged yield aggregator Steadefi confirmed that it was hacked and said it’s willing to discuss a bounty with the exploiters. On August 7, the decentralised finance (DeFi) software Steadefi was robed off at least $334,000 in a hacking attack. In a social media statement, the app's developer stated that the attack currently "puts all funds at risk." According to DefiLlama data, the app's total value locked has dropped due to the attack.
The Steadefi crew announced on X, formerly Twitter, with the post: "NOTICE: Steadefi has been exploited and all funds are currently at risk." In addition, the team confirmed that an on-chain message was sent to the Ethereum address to bargain with the attacker. According to blockchain statistics, several big inflows began at 4:41 p.m. UTC into this address on the Avalanche chain.