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Tuesday

29 September 2020

Defi Protocol Bzx Loses $8.1 Million in Third Hack This Year | News Bitcoin News

Defi Protocol Bzx Loses $8.1 Million in Third Hack This Year | News Bitcoin News


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Defi Protocol Bzx Loses $8.1 Million in Third Hack This Year.

So called decentralized finance (defi) lending platform Bzx on Sunday lost $8.1 million in a new hacking attack, the third this year, caused by a flawed code in its smart contracts.

The bug allowed the hacker to mint 219,200 LINK tokens (valued at $2.6 million); 4,503 ETH ($1.65 million); 1,756,351 USDT ($1.76 million); 1,412,048 USDC ($1.4 million) and 667,989 DAI (worth $681,000).

Marc Thalen, lead engineer at Bitcoin.com, first discovered the vulnerability in the smart contracts and reported it to Bzx, warning $20 million was at risk.

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