Uranium, a DeFi project based on the Binance Smart Chain was recently exploited to the tune of $50 million on the 28th of April. Uranium said that the exploitation occurred while migrating its protocol to the V2.1 version.
In a tweet, Uranium Finance announced:
“Uranium migration has been exploited, the following address has 50m in it [.] The only thing that matters is keeping the funds on BSC, everyone please start tweeting this address to Binance immediately asking them to stop transfers.”
The Block Research’s Igor Igamberdiev revealed that the DeFi project was drained of funds across several cryptocurrencies. The research showed that the drained tokes included Bitcoin (BTC) and Ethereum (ETH). Igamberdiev stated that the V2 version had a bug. As a result, access to the pair contracts is open to all. Also, anyone can withdraw all tokens.
Igamberdiev mentioned that the exploitation could be an insider job or a rug pull. He also noted that the Uranium team did not conduct a white-hat attack before migrating to the new version.
The Block highlighted the tokens drained and how much was taken from each. They are 80 BTCs ($4,3 million), 1,800 ETH ($4.7 million), 638,000 ADA ($0.8 MILLION), 26,500 DOT ($0.8 million), 34,000 wrapped BNB ($18 million), 17.9 million BUSD ($17.9 million), 5.7 million USDT ($5.7 million), and 112,000 U92 tokens, Uranium’s native asset.
Image Credits: Pixabay
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