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On December 13, Vulcan Forged, an NFT marketplace, stated that 148 wallets storing the PYR token had been hacked. Over 4.5 million PYR tokens valued slightly under $100 million were taken by the attacker.
The treasury monies will be used to replace the PYR tokens. It's also concentrating on going to a truly decentralized wallet arrangement, though the details haven't been revealed.
Vulcan Forged is an NFT ecosystem including a DEX, asset management dashboard, marketplace, and the capacity to mint NFTs. It focuses mostly on the blockchain gaming environment, which has gained traction this year. With the success of games like Axie Infinity and The Sandbox, the play-to-earn model has risen to prominence.
Thefts in the crypto realm are still a problem for teams and investors. The year 2021 has seen a massive increase in the number of attacks. The total amount of money stolen over that time was almost $474 million, indicating that as the DeFi business grew, so did the number of attacks targeting it.
Attackers use flash loans as one of the most prevalent exploits, and such attacks have been common this year. Cream Finance was hit by a flash loan attack for the third time this year, losing $130 million.