Breaking Hack Nets ~2600 ETH from Roll: Details Coming

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In Brief
  • Twitter users are reporting a hack involving social token pools.

  • Approximately 2600 ETH has been taken.

  • Details are still incoming.

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Details are scanty, but it seems that social token pools involving Roll were hit.

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Twitter users are posting about suspicious activity. At the moment, it seems that a hack stemming from use of the Roll social token platform ‘drained’ about 2600 ETH from social token pools.

What we Know

WARONRUGS, which pointed to the security problems on the PAID Network that later led to a Mar. 5 exploit, posted a tweet regarding the latest possible hack.

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Reading the MyCrypto.com thread brings an example in which 40 ETH was cycled through a series of tokens.

However, MyCrypto.com points out that this was only one set of transactions. Furthermore, MyCrypto.com points to @Barthazian as the source of information on the size of the exploit.

The Roll team is examining the events, but has not released a statement as of the time this report was published.

The BeInCrypto.com team will follow up on the story as information becomes available.

PAID Hack no Longer the Latest

If hackers hit the social token pools, then this will be only the latest in a series of exploits. The Mar. 5 hack of the PAID Network took advantage of the lack of a multi-signature requirement for fundamental changes to smart contracts. 

Before the PAID exploit, the DEX and bundler Furucombo lost $15 million on Feb. 27.

Crypto Still Struggles with Security

Hacking attacks have been a scourge upon the crypto community, and the bull run only attracts them. Akropolis platform saw a hacker siphon off $2 million. Unlike PAID, Akropolis had done a lot of homework on security.

Harvest Finance lost $24 million in a hack in October 2020. It appears that like today’s hack, at least some of the funds stolen in this case were washed through Tornado Cash. SushiSwap fell victim to a pinpoint exploit that targeted a specific token pair to the tune of $103,000. 

Since the details of today’s events are still incoming, it is too early to tell exactly what went wrong and how the affected parties will fare. Exchanges often repay losses. It can take some time, however. Mt. Gox was hit in 2014, and investors are still working on the outcome.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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James Hydzik is a finance and technology writer and editor based in Kyiv, Ukraine. He is especially interested in the development of regulation in the face of increasingly rapid technological change. He previously covered the CEE region for Financial Times banking and FDI magazines. An ardent believer in gut renovating eastern Europe one flat at a time, he currently holds more home renovation gear than crypto.

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