CORK Protocol, a decentralized financing platform, hit the smart contract exploit on May 28 and lost about $ 12 million in digital assets.
Cyber security firm CYVERS said that hacking occurred at 11:23:19 UTC and received funding at the address of “762b”. According to the company, the attacker stole about 3,761 wrapped ethers using the use and was converted to almost Ether (ETH) right after the attack.
Phil Fogel, co -founder of the CORK protocol, said, “We investigate the potential abuse of the CORK protocol and pause all the contracts. CORK protocol co -founder Phil Fogel wrote on X.
The CORK Protocol Exploy is the latest hacking event that affects the Crypto industry as cyber security is a major problem in this field, which has been raised to reduce consumer trust and improve security measures of encryption industry management.
relevant: Hacken CEO sees ‘No Shift’ in encryption security, with a $ 357m hack in April.
CETUS hacked before $ 222 million
Cetus DENCENTRALIZED CRYPTO Exchange (DEX), a trading platform based on the SUI network, was hacked on May 22, resulting in $ 223 million.
SUI Validators has frozen most of the funds, arguing about the appropriate behavioral process of blockchain validation tester after the centralization of the network and the main hacking incident.
The CETUS team announced a $ 6 million bounty for the White Hat hacker, which supports the return of the remaining theft.
https://www.youtube.com/watch?v=ndv0rfehetq
DEDAUB, a blockchain security company, has published a post -report that dissolves the accidents. According to the report, hacking was caused by the abuse of the liquidity parameters used by Cetus Automated Market Maker (AMM).
The hacker manipulated the field by changing the non -detected value with the most important bit (MSB) inspection. The most important bit of binary code is dramatically changed the value generated by the binary code.
This allows hackers to add a large amount of liquidity to the system with key stroke and release hundreds of millions of dollars of liquidity.
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