Cypher Protocol has been exploited! However, the hacker has chosen an interesting way to cash out. What happened and will he return the funds? Check here -
Cypher Protocol, a Solana-based futures DEX, has been forced to pause its smart contract in the wake of an exploit that resulted in a loss of more than $1 million.Late last night, Cypher’s devs announced that they had suffered a “security incident”, resulting in the need to pause their smart contract until a post-mortem was carried out. An appeal to the hacker was also made, promising a discussion on the next steps should the bad actor care to reply.
To the hacker: We are writing to see whether you would be open to speaking with us about any potential next steps.The exchange’s mission, which is proudly stated in Cypher Protocol’s Twitter bio, was also cause for mirth.during mtnDAO, a hackathon co-hosted by Cypher Protocol and Marginfi, another Solana-based project.The exploit drained over 38k SOL tokens and more than 123k USDC, adding up to a total of $1,035,203 in ill-begotten gains.out.
Alternatively, the attack may have been carried out by someone in a country who does not cooperate with Western law enforcement, in which case ease of access to liquidity provided by big CEXs may be the only thing that matters.Since the attack, users have been reaching out to the hacker by sending NFTs with brisk messages to the address involved.“Seriously though, you used Binance and KuCoin to fund and to try and get 30k out. People will find you.
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