Hacker pulled nearly $1.5M from Omni protocol
- July 11, 2022
- 0
An unknown person stole 1300 ETH (~$1.48 million) worth of assets from the Omni lending protocol using a reentry attack. It looks like a re-login hack. @ParallelFi @OMNI_xyz
An unknown person stole 1300 ETH (~$1.48 million) worth of assets from the Omni lending protocol using a reentry attack.
It looks like a re-login hack. @ParallelFi @OMNI_xyz Stolen funds just shuffled @TornadoNakit https://t.co/Nyunlkk3rr pic.twitter.com/XxxVyX80Fq
— Peck Shield Inc. (@peckshield) 10 July 2022
The platform provides the opportunity to borrow funds secured by NFTs. The hacker used tokens from the Doodles collection for the attack.
The attacker used secure credit in cryptocurrency to buy more NFTs. He withdrew the latter without returning the borrowed funds due to the vulnerability.
The hacker sent the stolen assets to the Tornado Cash mixing service.
The Omni team said that the protocol is in beta testing and therefore user funds are not affected by the incident.
Declaration:
1/ OMNI is still in testing (beta). No client funds were lost, only internal test funds were affected!
We suspended the OMNI protocol until we have completed the investigation and everything has been reviewed by external security and audit firms.
— OMNI (@OMNI_xyz) 10 July 2022
“We have suspended the OMNI protocol until we can complete the investigation and recheck everything with the help of outside security and audit firms,” the developers said.
Recall that in the first half of 2022, hackers targeting the crypto industry stole $ 1.97 billion as a result of attacks on 175 projects.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
