Events Under the Spotlight 🔎
Venus Protocol Loses $11M
Venus Protocol is an algorithmic money market protocol on BNB Chain.
It issued a statement saying that Chainlink’s suspension of $LUNA price updates after extreme volatility in $LUNA prices caused the price of $LUNA on the Venus lending market to remain at $0.107.
While the market price of $LUNA had dropped to $0.01 at that time.
After the price update was suspended, two addresses lent about $13.5 million in assets by staking 230 million $LUNA (worth about $2.3 million at the time), resulting in a loss of approximately $11.2 million to the protocol.
The Risk Fund would cover the lost funds.
Blizz Finance Depleted After LUNA Feeds Pause
Avalanche lending protocol, Blizz Finance, Tweeted the community that Chainlink suspended $LUNA oracles.
This action allowed several attackers to deposit millions of $LUNA and borrow all collateral at $0.1 per Chainlink oracle.
Due to the timelock mechanism, the protocol assets are exhausted.
Startup Ownly Hacked
Ownly, an art, and NFT gaming platform, disclosed a hack in their staking contract, and an investigation was underway.
The team reimbursed 5,000,000 $OWN tokens to the victims of the hacking incident.
The attacker drained all the $OWN tokens from the staking contract and sold the tokens for about 50 wBNB or ~$18k USD.
NeorderDAO fell for an attack
NeorderDAO suffered an attack where an attacker exploited a function of the smart contract to drain 70 million N3DR tokens.
The team released an incident postmortem, followed by a compensation plan.
RocketApe NFTs Discord hack
RocketApe, a list of NFTs Discord servers, was hacked to send phishing links to the members.
HoneySwap hijacked to insert a malicious smart contract
HoneySwap, a multi-chain DEX domain, was hijacked to insert a malicious smart contract address into the website.
The HoneySwap team later gained access to the main domain.
The team proposed a governance vote to reimburse the total amount lost to the incident, $20,000.
Discord server of Rarible hacked
According to reports, the Discord server of Rarible, a multi-chain NFT, was hacked to post phishing links.
The administrative team posted about no such event happening on the Rarible marketplace.
Icy.tools, NFT analytics tracking platform’s Discord server hack
Icy.tools, an NFT analytics tracking platform’s Discord server, was compromised.
The attacker gained access to the announcement channels and posted fake minting links in the community during the event.
To the Numerophiles out there 🔢
Instagram to get NFT Integration
More From the Editor’s Desk ✍️
The NFT economy has been spreading wings at a pace no one had imagined.
This, however, has multiplied the threats NFT buyers and projects have been facing, making them utterly apprehensive of all their investments getting washed out.
An emerging menace they have been encountering is hacking Discord accounts.
Check out how Discord hacks are an emerging threat to NFT transactions.
Word on the Block📦
Market Cap
Versus Series🛡️
Encryption VS Hashing
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