UPDATE 2: The missing funds are safe and will be returned to depositors. UPDATE 1: Here’s an article detailing the attack. 1,180,142.5653 EOS and 461,796.8968 USDT have disappeared from the flash loan system EOSX vault. The loss of funds apparently occurred as a result of a reentry attack code exploit on the vaults.sx smart contract. A white hat may have been responsible for this hack. EOS Nation is offering a 100,000 USDT reward to this mysterious hacker, payable after the stolen funds have been returned to the vaults.sx contract.
Well that IS a pleasant update to a very bad situation. Hopefully they learn from this and improve their code/security. Not many organization can survive breach of securities like this.
With cryptocurrency still in its infancy, there's bound to holes in the contracts that can lead to unfortunate results like this. If we really want the masses to openly adopt cryptocurrency, in general, I think it's important to see how hacks like this are handled to ensure safety down the line. Really glad to see that the missing funds are safe and hope that important lessons were learned to bolster the security behind people's crypto.
This is not a good look EOSX vault! But at least the lost/stolen/misplaced funds have been return to the vault.
It’s definitely something tragic and sad. I hope all the people affected recovers soon and let’s learn out of this unfortunate event to grow.
Good look for everyone
Well that IS a pleasant update to a very bad situation. Hopefully they learn from this and improve their code/security. Not many organization can survive breach of securities like this.
With cryptocurrency still in its infancy, there's bound to holes in the contracts that can lead to unfortunate results like this. If we really want the masses to openly adopt cryptocurrency, in general, I think it's important to see how hacks like this are handled to ensure safety down the line. Really glad to see that the missing funds are safe and hope that important lessons were learned to bolster the security behind people's crypto.