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Hacker Stole $6.1 Mln Worth of AUDIO Tokens

25 July 2022 13:09, UTC
Anna Martynova

The hacker stole 18 mln AUDIO, native tokens of the Audius project, worth $6.1 mln. The team announced that the problem is currently being addressed to stabilize the platform. According to Peckshield experts, the cause of the incident is related to the unreliable storage system of the Audius token.

The hacker created a proposal that would initialize and establish itself as the sole custodian of the smart contract. After eliminating the threat, the company resumed the transfer of tokens, adding that the functionality of the smart contract is resumed after a thorough investigation and elimination of the vulnerability.

After the attack, the hacker sold $6 mln worth of stolen AUDIO tokens at $1.08 each. The project team carried out an immediate buyback of the token in order to protect investors and prevent a further decline in the price of the token. The team does not disclose the nature of the stolen assets, community or project money was stolen.

Image: Binance Academy